Euronet Worldwide Announces Strategic Partnership with TNG Digital to Power One of the Largest Non-Bank Prepaid Card Programs in Malaysia
LEAWOOD, Kan. (October 31, 2022) Euronet Worldwide Inc. (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today a strategic collaboration with TNG Digital Sdn. Bhd. (TNG Digital) to expand the use of its Touch ‘n Go eWallet that serves approximately 18 million users in Malaysia.
TNG Digital provides financial and payments services to both retail consumers and small- to mid-sized businesses across the physical and online payments infrastructure in Malaysia. The Touch ‘n Go eWallet currently operates within the same payments ecosystem as banks in Malaysia. TNG Digital recently entered a partnership with Visa to develop a prepaid card solution, which also leverages Euronet’s REN payments platform, and link each card to a user’s Touch ‘n Go eWallet. This prepaid card program expands the reach of the Touch ‘n Go eWallet and allows its users to make payments to more than 80 million Visa merchants globally. The open loop card program will also provide seamless interoperability to its customers and help TNG Digital design more customized value offerings for its customers.
"Amid soaring demand for online and mobile alternatives, digital players such as TNG Digital are transforming financial services for consumers," said Himanshu Pujara, Managing Director, Euronet Asia Pacific. "Through this partnership, TNG Digital is further enhancing its proposition by enabling consumers to access funds in their wallets for all forms of transactions including in-store, e-commerce and ATMs. We are confident that the Touch ‘n Go eWallet will soon become one of the largest card issuers in Malaysia and continue its journey of providing financial payment convenience to millions of Malaysian citizens."