From left: Mr. Brian NgShih Chiow; Group Chief Operations Officer of REVENUE Group Berhad, Mr. Eddie Ng Chee Siong; Managing Director and Group Chief Executive Officer of REVENUE Group Berhad, Ms. Jess Lew Chah Lee; Marketing Manager of Tmall World, Malaysia and Mr. Ignatius Ong; CEO of TNG Digital Sdn Bhd. Corp officially enters Malaysia and soon to Korea and United States
Kuala Lumpur, 1 October 2019 – Cashless payment solutions provider REVENUE Group Berhad (“REVENUE” or the “Company,” Bloomberg: REVENUE:MK) has teamed up with TNG Digital Sdn Bhd (“TNG Digital”) to provide additional online shopping options to Touch ‘n Go eWallet users to shop on Alibaba-owned Taobao website and Tmall marketplaces. Taobao and Tmall are the world’s largest e-commerce marketplaces with a monthly active mobile users of 755 million in June 2019.
REVENUE, which provides a host of payment solutions, is known for its revPAY platform which facilitates payment acceptance for Taobao and Tmall customers in Malaysia. To formalise the partnership, REVENUE and TNG Digital had recently signed a Memorandum of Understanding which allows Touch ‘n Go eWallet users to shop on two marketplaces and make payments using their e-wallet application on REVENUE’s revPAYplatform. Mr Eddie Ng Chee Siong the Managing Director and Group Chief Executive Officer of REVENUE said the strategic collaboration with TNG Digital is in support of the government’s aspiration to accelerate the creation of a robust and secure digital payments ecosystem.
The Company sees this collaboration as further strengthening its value proposition by providing its customers with ease and secured mobile and web payment options through itsrevPAY Malaysia e-banking platform – thus moving the country further into the realm of digital payments. “The business interests of our customers is always important to us and we continue to strive to develop innovative products and solutions that will help them to grow. Our latest effort has led to a strategic collaboration with TNG Digital and with the additional payment options and services made available to consumers via the Touch ‘n Go eWallet on ourrevPAY’s platform, consumers shopping on Taobao and Tmall will have the flexibility to make payment according to their personal preference and behaviour,” he added.
“Today, shopping online makes up a big part of the lives of Malaysians and with the easy access to these sites where purchases can be made from a single tap, it is more important than ever that the Touch ‘n Go eWallet is present. As Touch ‘n Go eWallet, we want to continue to be the enabler for a truly cashless society and what better way then, than to be available on a payment channel on one of the world’s largest e-commerce website, Taobao. I am optimistic that our users will enjoy this new payment channel and expect a good take-up rate,” said Ignatius Ong, CEO of TNG Digital Sdn Bhd.
The Touch ‘n Go eWallet offers a range of lifestyle offerings - from purchasing movie tickets, retail shopping to F&B and entertainment. Additionally, the Touch ‘n Go eWallet is also championing mobility through the introduction of PayDirect and RFID system for toll payments. To-date, the Touch ‘n Go eWallet has over 5 million registered users and more than 80,000 merchant acceptance points. The strategic collaboration with TNG Digital will help to drive REVENUE’s electronic transaction processing segment moving forward as it is set to gain from the electronic transaction processing fee.
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