TNG Digital

What TNG Digital does

TNG Digital Sdn. Bhd. is a Malaysian private limited company headquartered in Bangsar South, Kuala Lumpur, founded in 2017 through a partnership between Touch 'n Go (a CIMB Bank subsidiary) and Ant Financial. It is Malaysia's first fintech unicorn and operates the TNG eWallet, a super-app regulated by Bank Negara Malaysia as an e-Money Issuer and Merchant Acquirer and registered with the Securities Commission Malaysia as a Registered Market Operator. The platform serves 25 million+ verified users in Malaysia with over 2 million merchant touchpoints nationwide and cross-border QR acceptance in 50+ countries via Alipay+.

The core technology is a cloud-native e-wallet platform hosted on Alibaba Cloud infrastructure, integrated with Ant International's Alipay+ GenAI Cockpit (which orchestrates 20+ LLMs including the Falcon TST model) and supporting biometric login, TapSecure one-tap approvals, NFC tap-to-pay, DuitNow QR, multi-currency Visa card processing and cross-border QR payments. The product is organised around four hubs (GOfinance, Near Me, Bills, Transport) and embeds savings (GO+, Save), investments (ASNB, Principal, e-Mas, e-Trade via Affin Hwang), insurance (WalletSafe, CarInsure, MotoInsure, SafeHome, SafeTrip, Med Insure, CI Insure, Perlindungan Tenang), personal financing (CashLoan), cross-border remittance (GOremit to 50+ countries), GOrewards loyalty with GOyang-GOyang geolocation rewards, GOtravel (AI trip planner, Visa Travel Card, Travel eSIM, overseas QR, SafeTrip), and EPOS360/BlueTap as an embedded SME mini-program co-developed with Ant International.

The business model is multi-stream: merchant discount rates and payment transaction fees across the 2M+ touchpoints; flat-fee GOremit cross-border remittances; insurance brokerage and agency commissions from a panel of 7+ underwriters (AIA, Allianz, Zurich, MSIG, Etiqa, Takaful Malaysia, Tokio Marine, Chubb, Great Eastern); investment product distribution with Principal Asset Management, ASNB and Affin Hwang; CashLoan referral fees; Visa card interchange and FX margins; advertising and promotional revenue via GOrewards with 100+ brand partners; SME terminal fees via EPOS360 BlueTap; EV charging transaction fees; Travel eSIM unit sales; and salary-account service fees from employers such as KK Mart under Jabatan Tenaga Kerja Semenanjung Malaysia approval. Distribution is primarily direct-to-consumer via the mobile app, complemented by employer-led onboarding, embedded partner technology (Setel/QuantumNexis/EPOS), and a growing physical service hub footprint.

Name

TNG Digital

Legal name

TNG Digital Sdn. Bhd.

Website

https://tngdigital.com.my

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

TNG Digital operates TNG eWallet, a BNM- and Securities Commission Malaysia-regulated super-app serving 25 million+ Malaysian consumers with payments, savings, investments, insurance, financing, remittance, rewards and travel, distributed across 2 million+ merchant touchpoints domestically and 50+ countries via Alipay+.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Merchant discount rate / payment transaction fees: Core e-wallet revenue generated from payment processing fees and MDR on transactions routed through TNG eWallet (DuitNow QR, TNG QR, Visa card payments, NFC tap-to-pay). Revenue scales with monthly payment volume and merchant touchpoints (~2M nationwide).
2. GOremit cross-border remittance fees: Flat-fee revenue on cross-border transfers to 50+ countries to bank accounts, cash pickup points, or local e-wallets like bKash, GCash, and PayMaya.
3. Insurance brokerage and agency commissions: TNG Digital Sdn. Bhd. is a registered agent of Allianz General Insurance Company (Malaysia) Berhad and Zurich General Takaful Berhad, and acts as a platform partner of MSIG Insurance (M) Bhd. AIA General Berhad underwrites several products (WalletSafe, Med Insure, CI Insure, SafeHome, SafeTrip). Earns distribution commissions on products including WalletSafe, CarInsure, MotoInsure, Med Insure, CI Insure, SafeHome, SafeTrip, and Perlindungan Tenang.
4. Investment product distribution and platform fees: Distribution fees on unit trust, ASNB, and Private Retirement Scheme (PRS) sales via partnerships with Principal Asset Management, Amanah Saham Nasional Berhad (ASNB), and Affin Hwang Investment Bank Berhad. Also earns on gold (e-Mas) transactions and GO+ management fees.
5. CashLoan financing referral fees: Referral and platform fees on personal financing products (RM100 to RM150,000, 1 week to 7 years) underwritten by partner banks; revenue scales with loan origination volume.
6. e-Trade brokerage commissions: Competitive brokerage commissions on Bursa Malaysia stock trades routed through the e-Trade module, with Affin Hwang Investment Bank Berhad as executing broker.
7. Card issuance and interchange: Revenue from issuing Touch 'n Go eWallet Visa Basic and Travel Cards, including interchange on domestic and overseas card spend, plus FX margins on overseas transactions.
8. Merchant promotions and rewards marketplace: GOrewards marketplace monetizes promotional placements, voucher sales, and brand campaigns with over 100 partner brands. GOyang-GOyang drives gamified location-based voucher discovery with merchant partners like Baskin Robbins, Caltex, MR. D.I.Y, Guardian, etc.
9. EPOS360 SME platform and BlueTap terminal fees: Revenue from SMEs using the EPOS360 AI-powered digital business platform and EPOS360 BlueTap smart terminals (Malaysia's first TNG eWallet tap-to-pay terminal). Co-developed with Ant International's EPOS subsidiary.
10. EV charging transaction fees: Transaction-based revenue on EV charging sessions at 6,000+ points across Malaysia and Singapore, accessed through the in-app EV charging feature.
11. Travel eSIM sales: Unit revenue on Travel eSIM data packages sold for 190+ countries, starting from RM7 per package.
12. Salary account service fees: Service fees from employers (e.g., KK Mart) using TNG eWallet as an approved salary account channel for migrant workers. Jabatan Tenaga Kerja Semenanjung Malaysia has approved TNG eWallet as a salary account provider.
13. Embedded health and lifestyle services (transaction-based): Transaction-based revenue share from embedded services such as QuantumNexis Ziloy digital mental health, integrated directly into the TNG eWallet app.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels9 records

Core offering

TNG Digital operates the TNG eWallet, Malaysia's largest e-wallet super-app with 25 million+ verified users, delivering an all-in-one mobile platform for payments, money management (GOfinance), rewards (GOrewards), and travel (GOtravel). The platform integrates embedded financial services including savings (GO+, Save), investments (ASNB, Principal, e-Mas, e-Trade Bursa Malaysia stock trading), insurance distribution, personal financing (CashLoan), cross-border remittance (GOremit), and a co-branded Visa card — all delivered via a single regulated mobile application.

Product overview

TNG Digital operates TNG eWallet, a single unified all-in-one super app following a platform-plus-modules architecture. The TNG eWallet app serves as the central core platform, organising its 22 million+ user offering around four core hubs: GOfinance (financial services), Near Me (location-based services), Bills (bill payments), and Transport. Within GOfinance sits an integrated suite of modules including savings (GO+, Save), investments (e-Mas, e-Trade, ASNB, Principal), an Insurance Suite (WalletSafe, CarInsure, SafeTrip, SafeHome, CI Insure, Med Insure, MotoInsure, Perlindungan Tenang), CashLoan financing, the TNG eWallet Visa Card, and GOremit remittance. Lifestyle modules include GOrewards (with GOyang-GOyang geolocation rewards) and GOtravel (with AI-powered trip planner, Travel eSIM, and Overseas QR Payment). TNG Digital also operates EPOS360 and EPOS360 BlueTap as an embedded SME mini-program within the app.

Differentiator

Problem solved

Functional benefit

Products and services

• TNG eWallet
• TNG eWallet Visa Card (Basic and Travel)
• GOremit Cross-Border Remittance Service
• CashLoan Personal Financing
• EPOS360 SME Digital and Payments Platform
• EPOS360 BlueTap Smart Terminal
• Travel eSIM
• GO+ Shariah-Compliant Savings
• ASNB Investment Subscriptions
• e-Trade Bursa Malaysia Stock Trading
• Insurance Distribution Suite

Quantifiable outcome

• 160,000+ migrant workers paid through TNG eWallet in 2025 (up from zero pre-launch)
• +10 more outcomes

Named customers13 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration24 records

AI capability10 records

Feature11 records

Partnerships

20 partnerships are on record, tiered core, flagship and minor.

• Alibaba CloudcoreTechnology or Integration · 12 June 2026Provides cloud infrastructure for TNG eWallet (along with Ryt Bank and Instapay) to deliver secure, scalable digital financial services that meet Bank Negara Malaysia regulatory requirements. Alibaba Cloud's Malaysian footprint has grown to five data centers (including Johor) — its largest cloud infrastructure presence in Southeast Asia.
• KK Mart (KK Group of Companies)coreGTM or Marketing Partner · 20 April 2026Partnered with TNG Digital to pay migrant workers' salaries through the TNG eWallet. KK Mart is the first major employer to roll out e-wallet salary for migrants. The partnership serves migrant workers who cannot open traditional bank accounts (~45% of Malaysia's migrant worker population).
• QuantumNexis Malaysia (Healthcare Triangle subsidiary)coreStrategic or Co-development Partner · 25 February 2026Strategic partnership to integrate QuantumNexis's Ziloy digital mental health platform into TNG eWallet, providing assessments, wellness tools, and access to licensed professionals to over 25M Malaysian users. Transaction-based revenue model; expected to generate six-figure revenue for QuantumNexis over the next two quarters. Plans to expand across Southeast Asia.
• EPOS (Ant International subsidiary)flagshipStrategic or Co-development Partner · 15 January 2026Co-developed and jointly launched EPOS360 and EPOS360 BlueTap in Malaysia — an AI-powered digital and payments platform for SMEs embedded as a mini-program within TNG eWallet. EPOS360 BlueTap is Malaysia's first tap-to-pay experience using TNG eWallet on a single smart terminal supporting DuitNow QR and major eWallets. Endorsed by MDEC. Ant International plans to expand the platform to Singapore.
• MYDINminorGTM or Marketing Partner · 22 December 2025Co-marketing partnership offering RM5 school uniform discounts via TNG eWallet ahead of the 2026 school term, with support for 100 underprivileged children in Klang Valley communities.
• Ant International (Alipay+ GenAI Cockpit)flagshipTechnology or Integration · 14 November 2025Adopted Ant International's Alipay+ GenAI Cockpit AI-as-a-Service platform to power customer service automation, personalization, and fraud detection for TNG eWallet. The platform leverages 20+ leading LLMs (including Ant's Falcon TST model). Also provides the cross-border Alipay+ QR rails enabling GOremit.
• PETRONAS Dagaan Berhad (Setel)flagshipStrategic or Co-development Partner · 1 June 2025Setel (launched 2018 by PETRONAS Dagaan Berhad) embedded its proprietary pump-and-pay technology into the TNG eWallet in June 2025, enabling cashless fuelling at over 1,000 PETRONAS stations nationwide.
• Principal Asset Management BerhadflagshipStrategic or Co-development PartnerManages the GO+ (Principal e-Cash Fund, Shariah-compliant) and Save (Principal Islamic Money Market Fund) products distributed via TNG eWallet. Principal manages nearly RM88.1 billion in assets across Southeast Asia. Also provides the Invest and Retire features (Private Retirement Schemes) on GOfinance.
• Amanah Saham Nasional Berhad (ASNB)flagshipStrategic or Co-development PartnerEnables ASNB account opening in 1 minute within the TNG eWallet, the first and only e-wallet to manage ASNB accounts in-app. Includes ASB financing from CIMB. RM118 million allocation for ASM 3 subscriptions via GOfinance.
• Affin Hwang Investment Bank BerhadcoreStrategic or Co-development PartnerProvides the broker for the e-Trade cash-upfront stock trading feature on Bursa Malaysia embedded in TNG eWallet, with real-time market data, paperless onboarding, and competitive brokerage fees.
• AIA General BerhadflagshipImplementation/ SI/ Consulting PartnerUnderwrites multiple insurance products distributed through TNG eWallet, including Med Insure (RM100k annual limit, from RM20/month), CI Insure (payout up to RM300k), SafeHome (fire insurance up to 66% less), WalletSafe, and SafeTrip travel insurance (from RM3).
• Allianz General Insurance Company (Malaysia) BerhadcoreImplementation/ SI/ Consulting PartnerTNG Digital is a registered agent of Allianz. Allianz underwrites CarInsure, MotoInsure, WalletSafe, and Perlindungan Tenang products distributed via the TNG eWallet.
• Zurich General Takaful BerhadcoreImplementation/ SI/ Consulting PartnerTNG Digital is a registered agent of Zurich. Zurich Takaful underwrites CarInsure, MotoInsure, WalletSafe, and Perlindungan Tenang products.
• MSIG Insurance (M) BhdcoreImplementation/ SI/ Consulting PartnerTNG Digital acts as a platform partner of MSIG. MSIG underwrites CarInsure, MotoInsure, and Perlindungan Tenang products.
• Bank Negara Malaysia (BNM)flagshipOthersRegulator of TNG eWallet as an e-Money Issuer and Merchant Acquirer. BNM has approved TNG eWallet as a salary account channel for migrant workers (via Jabatan Tenaga Kerja Semenanjung Malaysia). TNG eWallet was the first e-wallet to integrate BNM's National Fraud Portal. Partners in Perlindungan Tenang national micro-insurance scheme.
• Securities Commission MalaysiaflagshipOthersTNG eWallet is registered with the Securities Commission Malaysia as a Registered Market Operator, enabling it to distribute investment products (unit trusts, ASNB, PRS, gold, GO+, Bursa Malaysia stock trading) directly in the app.
• GOremit cross-border partners (bKash, GCash, PayMaya)coreTechnology or IntegrationThrough the GOremit service (launched July 2023), TNG eWallet users can transfer money to supported e-wallets like bKash (Bangladesh), GCash (Philippines), and PayMaya — enabling low-cost remittances to over 50 countries via one flat fee.
• GOyang-GOyang merchant partners (Baskin Robbins, Caltex, MR. D.I.Y, Guardian, Cha Tra Mue, Health Lane Pharmacy, Llaollao)minorGTM or Marketing PartnerMerchant brands participating in the GOyang-GOyang gamified geolocation rewards feature, where TNG eWallet users can shake their phones to discover vouchers and deals at nearby locations.
• Takaful Malaysia, Etiqa General Takaful, Tokio Marine, Chubb, Great EasternminorImplementation/ SI/ Consulting PartnerAdditional insurance/takaful underwriters and partners distributing products through TNG eWallet (MotoInsure, CarInsure, Perlindungan Tenang, SafeTrip, etc.).
• Malaysian Anti-Corruption Commission (MACC)coreOthersTNG Digital signed the Corruption-Free Pledge with MACC, aligning with the national anti-corruption agenda and MACC's TRUST principles. Pledge was signed in the presence of TNG Digital CEO Alan Ni, senior management, and MACC representatives.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Regional players

• OVO (PT Visionet Internasional): OVO is one of Indonesia's largest e-wallets with payments, financial services, and merchant acceptance. It is a regional peer operating in the same Alipay+ ecosystem but in a different geography.
• DANA Indonesia: DANA is a major Indonesian e-wallet offering payments, investments, and financial services via super-app-style integration. It is a comparable Southeast Asian e-wallet peer in a different geography.

Direct peers

• GCash (Mynt / Globe Telecom): GCash is the Philippines' leading e-wallet, integrated with Alipay+ for cross-border remittances. It is a GOremit payout partner and a directly comparable super-app e-wallet in the broader Ant/Alipay+ ecosystem.
• Shopee (Sea Limited): Sea Group operates ShopeePay, a major Malaysian and regional e-wallet bundled with its e-commerce platform. It competes head-to-head with TNG eWallet for consumer payments and merchant acceptance in Malaysia.
• BigPay (AirAsia Group): BigPay is an AirAsia-affiliated digital financial services app offering a prepaid card, payments, remittance, and travel features across Southeast Asia. It overlaps directly with TNG eWallet on travel payments, card, and remittance.
• Grab Holdings: Grab operates GrabPay, the leading Southeast Asian super-app e-wallet with payments, financial services, mobility, and food delivery. It is TNG's principal direct competitor in the Malaysian consumer e-wallet and embedded finance space.
• Boost Holdings: Boost is a Malaysian e-wallet originally from Axiata and now jointly owned with RHB Bank, offering payments, bill payments, and financial services. It directly competes with TNG eWallet for Malaysian consumers and merchants.
• MAE by Maybank: MAE is Maybank's mobile-only e-wallet and digital banking app, combining payments, savings, investments, and QR acceptance across Malaysia. It is one of the bank-led competitors targeting TNG's super-app positioning.

Others

• Touch 'n Go Sdn. Bhd. (parent): Touch 'n Go is TNG Digital's largest shareholder and operates the separate Touch 'n Go Card and RFID toll business. It is comparable in branding and infrastructure ownership but is an enabler/shareholder rather than a competitor.

Emerging players

• Setel (PETRONAS): Setel is PETRONAS's fuel payments app, whose pump-and-pay technology is now embedded inside TNG eWallet. It is a partner in fuelling but a direct competitor in mobility payments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/tng-digital

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TNG Digital