PETALING JAYA: Touch ‘n Go eWallet users must complete electronic Know-Your-Customer (eKYC) verification by Dec 20 to avoid gradually losing access to their accounts, TNG Digital announced today (Nov 20).
TNG Digital said in a statement that non-eKYC users are currently restricted to a low eWallet balance and limited features such as basic payments, toll usage, NFC card top-ups, and RFID.
ALSO READ: My50 pass to be integrated with Touch ‘n Go e-wallet – Loke
It said that with the full implementation of eKYC on Dec 20, all new users must complete eKYC verification to access TNG eWallet and users who fail to verify will face progressive restrictions, eventually losing access to their accounts entirely.
Previously, TNG Digital announced its goal of becoming Malaysia’s first fully eKYC-enabled eWallet platform, aiming to enhance user protection and reinforce its commitment to regulatory compliance.
CEO Alan Ni emphasised that the implementation of eKYC enhances security by significantly reducing the risk of account takeovers, enabling TNG eWallet to achieve a fraud rate that is 90% lower than the market average for card payments.
The company mentioned that eKYC is an automated process requiring users to verify their identity by submitting a MyKad photo along with a selfie.
