Touch ‘n Go eWallet, Fave partner to scale QR payments and rewards in Malaysia

• Touch ‘n Go eWallet users can now use their eWallet on the Fave app 
• Enables businesses to facilitate contactless retail spending amidst recovering economy

Fave is now a payment partner with Touch ‘n Go eWallet, allowing payment via its eWallet on the Fave app. 

In a statement, the payments app provider said the move was made to incentivise users and offer convenience amidst lockdown lifting, whereby customers using Fave with linked Touch ‘n Go eWallet will receive up to 20% in cashback and collect goal hunter stamps.

This collaboration is aligned with Fave’s vision to create an integrated payment ecosystem where all shopping experience is rewarding and whilst continuing the momentum to adopt to cashless payments. 

Joel Neoh (pic, right), chief executive officer (CEO) of Fave, said Malaysians’ payment preferences are becoming increasingly diversified as a wide variety of digital payment methods have gained traction across the country. 

He added that the new generation of smart consumers now have an abundance of options to choose from when they shop, whereby they can opt in for rewarding cashless payments as well splitting payment into installments with buy now, pay later (BNPL) solutions.

“By partnering with Touch ‘n Go, we continue to offer innovative ways to pay while giving consumers every reason to choose contactless payments for a smarter and more rewarding shopping experience. This partnership allows consumers to stack rewards while using Touch ‘n Go eWallet to pay with Fave app,” Neoh said. 

Fave users will be able to use the Touch ‘n Go eWallet as the payment of choice and enjoy stacked perks in the form of cashback and goal hunter stamps for every transaction. The frictionless payment experience makes it easy for Fave users to optimise their spending and savings while having more options to choose from the eWallets they want to spend with all on one platform.

Ignatius Ong (pic, left), CEO, TNG Digital Sdn Bhd said “As we continue to expand the touch points of Touch ‘n Go eWallet, we also want to provide better and more robust user experiences when it comes to cashless transactions.” 

“Despite the current pandemic, we have seen the trend of increased adoption of eWallets, as well as more customers opting for online shopping to enjoy in the comfort of their homes.  This connectivity was a long time coming,” he added.

A survey conducted by ​​UOB Kay Hian Research indicates that Malaysia saw more than 60% growth in cashless transactions via digital payments from 2019 to 2020. The growing penetration of mobile transactions and increased digitalisation, it said will drive the mobile payments industry in the coming years. 

Additionally, Malaysia’s e-payment industry is expected to deliver a CAGR of 37% for 2021-2023 as consumer adoption continues to be driven by the pandemic and government support for cashless payment.

Users that download Fave app and link Touch ‘n Go eWallet on Fave app can enjoy up to RM8 cashback for their first purchase and earn a goal hunter stamp for each RM10 spent with Touch ‘n Go eWallet on Fave app.

Here’s how you can start using Touch ‘n Go eWallet to Fave:

1. Select Touch ‘n Go eWallet as your payment method on Fave app on the payment screen
2. You will be redirected to your Touch ‘n Go eWallet
3. Complete the payment, which will automatically link your Touch ‘n Go eWallet to Fave app for future purchases.

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