If you’re fan of China’s TaoBao and Tmall, there’s now another way to pay for your purchases on these shopping havens. Cashless payment solutions provider Revenue Group Berhad and TNG Digital have teamed up to now enable shoppers to use the Touch ‘n Go eWallet as a payment option.
Alibaba’s TaoBao and Tmall are the world’s largest e-commerce marketplaces with monthly active mobile users totalling 755 million in June 2019.
To date, Touch ‘n Go eWallet has over five million registered users with more than 80,000 merchants onboard.
Revenue Group and TNG Digital recently signed a Memorandum of Understanding (MOU) which allows Touch ‘n Go eWallet users to make purchases on TaoBao and Tmall on Revenue’s revPAY platform.
RevPAY offers a single platform that facilitates acceptance of payment transactions across various payment channels—from EDC terminals to virtual payments (e-commerce and mobile channels) to QR-code payment.
Revenue Group’s managing director and group CEO Eddie Ng Chee Siong said the strategic partnership with TNG Digital is in support of the government’s aspiration to accelerate the creation of a robust and secure digital payments ecosystem.
The strategic collaboration will also help drive Revenue’s electronic transaction processing segment as it sets to gain from the 1.5 percent transaction processing fee.
“We at Touch ‘n Go eWallet want to continue being the enabler for a truly cashless society and what better way then, than to be available as a payment channel on the world’s largest e-commerce marketplaces, Taobao and Tmall,” said Ignatius On, CEO of TNG Digital Sdn Bhd.
Malaysians can currently purchase items from TaoBao and Tmall via Revenue’s BuyMall.com.my.
TNG Digital is rapidly expanding use and business cases for its e-wallet, spreading across mobility (PayDirect and RFID for toll payments), shopping, bill payment, telco reloads, parking, F&B, and entertainment.