TNG Digital Sdn. Bhd. provides Malaysian employers and migrant workers with a hassle-free payroll management solution, allowing direct payment to be performed from employers’ business banking accounts to workers’ eWallet using their DuitNow account number.
In Malaysia, migrant workers account for 20% of our workforce, actively contributing to vital industries such as service, manufacturing, plantation, and construction. Unfortunately, hundreds of thousands of migrant workers face challenges in opening a bank account. Consequently, many migrant workers receive their salaries in physical cash, leaving them vulnerable to financial losses, such as theft and fraud.
Alan Ni, Chief Executive Officer of TNG Digital Sdn. Bhd. said “Handling physical cash is also problematic for employers as withdrawing and disbursing physical money makes the payroll process cumbersome, affecting productivity and profitability. Touch ‘n Go eWallet allows employers to shift away from handling physical cash. They can now directly disburse payments to their migrant workers’ eWallets from their business bank accounts, streamlining the process.”
Similar to any traditional bank by providing an account number, every Touch ‘n Go eWallet comes with a DuitNow account number. Possessing a DuitNow account number allows users to seamlessly send and receive money across all banks in Malaysia, just like a traditional bank account. This seamless capability is facilitated by Payments Network Malaysia’s (PayNet) real-time payment platform (RPP), providing an effective alternative for the unbanked.
As a salary payment alternative, the Touch ‘n Go eWallet by TNG Digital will benefit migrant workers and employers.
In an effort to complete TNG Digital’s value proposition as an alternative financial service provider to migrant workers, users have the option to get a Visa card that allows them to withdraw their eWallet funds as cash from ATMs and make purchases at all Visa-enabled merchants, both physical and online.
Earning a salary in Malaysia means that migrant workers will have the need to send money home. Traditionally, migrant workers will visit the physical branches of remittance service providers for the same purpose. However, the repetitive monthly process of carrying and traveling with physical cash will expose them to the same problems.
Now with GOremit, a fully digital cross-border remittance service in the Touch ‘n Go eWallet, migrant workers can easily send money to their loved ones in their homeland, to support their family’s living expenses or for savings purposes.
GOremit allows users to transfer funds overseas to 58 countries, including Indonesia, the Philippines, Singapore, Thailand, Vietnam, Bangladesh, India, Nepal, Pakistan, Sri Lanka, and more, through a convenient and secure platform. These countries encompass the majority of where these migrant workers are from.
“This initiative is aligned with Bank Negara Malaysia’s financial inclusion framework 2023–2026 and TNG Digital’s ESG initiative – Tech 4 Good, aiming to continuously promote financial inclusion for the underserved,” added Ni.