KUALA LUMPUR, Nov 15 (Bernama) — TNG Digital Sdn Bhd (TNG Digital), the owner and operator of Touch ‘n Go eWallet, has committed to incorporating the five key measures imposed on banks by Bank Negara Malaysia to combat financial scams.
Touch ‘n Go eWallet, according to CEO Alan Ni, places a high value on privacy and security features to protect users’ interests.
“We believe the safeguards we’ve put in place will provide our users with peace of mind that the money in their e-wallet is secure.”
We hope that by using the Touch ‘n Go eWallet in their daily lives, we will be able to get closer to more Malaysians, which is in line with our vision of creating a more financially literate society,” he said in a statement today.
Other strategies, according to the company, include instituting a verification and cooling-off period for first-time enrollment in services such as secure device or profile document, as well as limiting e-transaction authentication to one mobile device or secure device per account holder.
According to TNG Digital, another strategy is to have a dedicated customer service channel or hotline for incident reports and suspicions of scams and fraud.
“Once implemented, these security standards are expected to further strengthen safeguards against fraudulent transactions, strengthening confidence and trust among Malaysians, merchants, and e-wallet communities,” it said.