KUALA LUMPUR: TNG Digital Sdn Bhd has disbursed over RM1 billion into payroll accounts of migrant workers, reinforcing its commitment to enhance financial inclusion for unbanked and underserved communities, by the end of 2024.
TNG Digital CEO Alan Ni highlighted the success of its financial inclusion initiatives, emphasising the company’s role in enabling secure salary disbursements.
“With accreditation from Department of Labour of Peninsular Malaysia, TNG Digital’s digital ecosystem facilitates direct wage deposits into TNG eWallet accounts, ensuring safer and more efficient payroll management system for workers,” he said
“This reflects our dedication to ensuring individuals, regardless of their status, can securely receive and manage their income,” he said at a media launch announcing the partnership between TNG Digital and the United Nations High Commissioner for Refugees (UNHCR) on Feb 12.
The move, in collaboration with UNHCR, underscores TNG Digital’s commitment to integrating vulnerable communities into the formal financial system, ensuring greater economic participation and security.
The initiative stems from a memorandum of understanding (MoU) signed on World Refugee Day 2024, enabling UNHCR-registered refugees in Malaysia to access a range of essential financial services via TNG eWallet.
The services include secure payments and fund transfers, Touch ‘n Go Visa Card, ATM withdrawals and GOrewards loyalty points for redeeming cash back vouchers and deals.
The effort aims to address long-standing financial barriers faced by refugees, who often struggle to access banking services due to their legal status.
Ni said that through TNG Digital’s partnership with regulators, including Bank Negara Malaysia, the eKYC (electronic Know-Your-Customer) verification process has been refined to ensure secure identity validation via UNHCR records.
He said refugees and asylum seekers often operate in the informal economy, leaving them vulnerable to unstable income streams and financial insecurity. By including them into a regulated financial system, ha added, TNG Digital’s initiative enhances their financial security and economic independence.
Beyond providing essential financial access, TNG Digital is exploring future financial solutions for refugees, including microfinancing, savings programmes and insurance access, to enhance their self-reliance.
“Malaysia continues to evolve as a regional fintech hub, this initiative signals a major step toward financial inclusivity, ensuring that no one is left behind in the country’s digital economy,” Ni said.
UNHCR representative in Malaysia Louise Aubin stressed that such partnerships are crucial in protecting and empowering displaced communities. “This collaboration enables refugees to securely receive wages, manage savings and participate in the local economy, basic financial rights that many of us take for granted,” she said.
