How will TNG eWallet aid pensioners facing banking access issues?

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TNG eWallet to Provide Alternative Pension Access for Retirees Facing Banking Difficulties

TNG Digital Sdn Bhd is supporting the Public Service Department's (PSD) initiative to offer an alternative pension payment channel through the TNG eWallet. This platform aims to assist eligible pensioners who encounter challenges accessing their monthly pensions via conventional banking methods, particularly those with frozen or restricted accounts. The initiative is expected to benefit 835,146 pensioners and derivative pension beneficiaries.
Facilitating Access for Vulnerable Pensioners

The TNG eWallet serves as a crucial alternative payment channel for pensioners unable to access their funds through traditional banks. This is especially relevant for individuals whose bank accounts may be frozen or restricted, a situation that can arise from various circumstances, including falling victim to financial scams. By providing a digital alternative, the initiative aims to mitigate the hardship faced by these retirees in accessing their essential income.
Offering a Fee-Waived Visa Card Option

Eligible pensioners participating in this initiative will have the opportunity to apply for a TNG eWallet Visa Card without any fees. This card is directly linked to the user's eWallet balance, enabling them to make payments, shop, and withdraw cash. The card's global acceptance by Visa merchants and its functionality at ATMs worldwide offer pensioners flexibility in managing their daily expenses and accessing their pension funds conveniently.
Leveraging Existing User Base for Inclusivity

TNG Digital highlighted that the TNG eWallet platform is already utilized by over 3.4 million verified users aged 60 and above. This existing widespread adoption among senior citizens provides a strong foundation for the success of the new initiative. The company's CEO, Alan Ni, expressed confidence that this established user base demonstrates the accessibility and inclusivity of digital financial services for older Malaysians, ensuring that no eligible pensioner is excluded from receiving their pension payments.

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How will TNG eWallet aid pensioners facing banking access issues?

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