TNG Digital Sdn. Bhd recently made a notable policy shift to discourage cash-outs through credit card reloads into its e-wallet, TNG eWallet.
Effective February 23, the company will impose a 1% fee on all credit card top-ups.
This decision aims to deter the practice of converting credit card balances into cash in bank accounts and to offset the substantial costs associated with credit card reloads that TnG Digital has been subsidizing since its inception.
Previously, users enjoyed a free-of-charge RM1,000 reload limit for credit cards, but this limit was reduced from RM5,000 in October 2023.
The platform is now urging users to explore alternative methods such as DuitNow transfers or debit card reloads, which remain free of charge.
The company emphasises that bank transfers via DuitNow offer the same convenience as fund transfers among bank accounts.
Alan Ni, the CEO of TnG Digital Sdn. Bhd, highlighted the company’s role as a leading financial institution serving over 20 million e-KYC verified users.
He emphasised the need to strike a balance between convenience, security, and the long-term sustainability of operational costs.
While credit card top-ups will still be available, the introduction of the 1% fee aims to encourage users to adopt cost-free alternatives like DuitNow transfers or debit cards, fostering a more secure and sustainable ecosystem for digital transactions.
