[nazrey]

TNG launches GO+
By Farah Adilla March 29, 2021 @ 11:10am

KUALA LUMPUR: Touch 'n Go (TNG) Group has today launched GO+, a financially inclusive investment product.

This will allow Touch 'n Go eWallet users and all Malaysians to gain access to low risk money market investments for as low as RM10.

TNG Group chief executive officer Effendy Shahul Hamid said GO+ was the first step as the company moved into digital financial services.

"It was designed to address core customer pain points, promote financial inclusion and

"New norms in light of Covid-19 have seen a boost to everything digital, and we're fortunate to have been able to be agile and pivot to bring GO+ to the market ahead of time," he said during the virtual launch today.

On January 13, the company announced that its subsidiary TNG Digital Sdn Bhd had been granted conditional approval to operate as a Recognised Market Operator (RMO) by the Securities Commission (SC).

Touch 'n Go eWallet is the first eWallet provider to obtain approval to operate as a RMO by the SC.

The conditional approval will enable the company to directly distribute capital market products, including money market unit trust funds, through the Touch 'n Go eWallet platform, without having to be directed to third-party applications.

TNG said GO+ enabled an easy and convenient method for Touch 'n Go eWallet users to earn returns on their GO+ balance. The returns will be credited daily.

GO+ will also carry a "cash-out" feature that will allow movement of funds seamlessly between the user's eWallet and designated bank account.

In order to add greater usability, GO+ balances can also be used for all eWallet payments use cases.

The GO+ product is anchored on Principal e-Cash Fund, a money market fund managed by Principal Asset Management.

The product co-creation collaboration essentially combines Touch 'n Go eWallet's expertise in technology and ecosystems and Principal's core expertise in investment strategy and fund management.

GO+ is available effective March 29.

https://www.nst.com.my/business/2021...ng-launches-go