How does TNG eWallet address banking access issues for pensioners?

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TNG eWallet Facilitates Pension Access for Retirees Facing Banking Challenges

TNG Digital Sdn Bhd is supporting the Public Service Department’s (PSD) initiative to provide an alternative pension payment channel via the Touch ‘n Go (TNG) eWallet. This platform aims to assist eligible pensioners who encounter difficulties accessing their monthly pension funds through traditional banking methods. The initiative is particularly designed for those whose bank accounts may be frozen or restricted, a situation sometimes exacerbated by falling victim to financial scams.
Provision of an Alternative Payment Channel

The core of TNG Digital's support lies in offering a viable alternative to conventional banking for pension disbursements. This mechanism is crucial for pensioners facing access restrictions, ensuring they can still receive the essential income they rely on. The PSD has indicated that this initiative, along with expanded MyPesara Plus benefits, will benefit 835,146 pensioners and derivative pension beneficiaries.
Enhanced Accessibility through a Dedicated Visa Card

Eligible pensioners under this programme have the option to apply for a fee-waived TNG eWallet Visa Card. This card is directly linked to the user's eWallet balance, enabling a range of transactions. Pensioners can use it for everyday payments and shopping, and importantly, it facilitates cash withdrawals at ATMs.
Global Transaction Capabilities

The TNG eWallet Visa Card extends its utility beyond domestic use, allowing for payments at Visa merchants worldwide. This feature provides pensioners with flexibility in managing their finances, whether for local purchases or while travelling. The card's direct link to the eWallet balance ensures that funds are readily available for withdrawal or spending, aligning with the goal of accessible financial services.
Commitment to Financial Inclusion for Seniors

TNG Digital's Chief Executive Officer, Alan Ni, has emphasized the company's commitment to financial inclusion, stating the objective is to ensure no eligible pensioner is deprived of their pension payments. The existing user base of over 3.4 million verified users aged 60 and above on the TNG eWallet platform demonstrates the potential for digital financial services to be both accessible and inclusive for the senior demographic. The introduction of the fee-waived Visa card aims to further simplify the management of daily expenses for these pensioners.

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How does TNG eWallet address banking access issues for pensioners?

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