Touch ‘n Go eWallet users are required to complete electronic Know-Your-Customer (eKYC) verification by the 20th of December, 2024, to maintain full access to their accounts. TNG Digital, the company behind the popular eWallet, announced this today.
What Does This Mean for TNG Users?
Users who have not completed eKYC verification are currently restricted to a low eWallet balance and, in addition, have access to basic features only. These features include payments, toll usage, NFC card top-ups, and RFID. However, after December 20, non-verified users will face progressive restrictions, which will ultimately lead to complete account deactivation.
Why is eKYC Important?
TNG Digital aims to become Malaysia’s first fully eKYC-enabled eWallet platform. This move is intended to enhance user protection, strengthen regulatory compliance, and reduce the risk of account takeovers. By implementing eKYC, the company aims to achieve a fraud rate that is 90% lower than the market average for card payments.
How to Complete eKYC Verification
The eKYC process is automated and requires users to submit a photo of their MyKad along with a selfie. Once verified, users can enjoy the full range of features offered by the TNG eWallet.
TNG Digital encourages all users to complete the eKYC verification process. Doing so will help avoid any disruptions to their digital financial services. It is important to complete the verification as soon as possible. You can also head over to the support page for more information.
