I have a lot to fear when using e-wallets.
It has however been somewhat alleviated when I know that security measures are put in place to make transactions more protected. The one that really caught my eye was Touch ‘n Go eWallet’s new Money-back Guarantee policy. This policy is the first-ever policy in Malaysia that ensures your eWallet is safe and secure to use. This is the first time I’m hearing of such a policy from e-wallet service providers.
The Touch ‘n Go eWallet has all the benefits you’d expect from an e-wallet. And more. As far as I know, the Touch ‘n Go eWallet is the only one with unique features for toll payment. It is especially convenient as it ties in with RFID and PayDirect. I now enjoy rebates as I pass through tolls with the eWallet.
Money-back Guarantee Policy
Now, on to the part I find most beneficial of the Touch n’Go eWallet to us user – its Money-back Guarantee Policy. The policy was introduced just a few months ago as there was a need to address users (like me) who needed assurance that they can avoid being scammed as they made payments online.
Verification of your identification is the most important step for Money-back Guarantee policy. As per the above steps, you’ll need to take a picture of your NRIC as well as a photo of yourself to get verified. The process is depicted below.
Touch ‘n Go eWallet’s policy addresses concerns many of us have regarding the security of eWallets. It’s especially risky with so many cases.
Just by googling eWallet scams, I’ve found a few cases. The most recent case I heard involved a user from Kluang, Johor where she had more than RM2,000 stolen from her through a particular e-wallet app.
Furthermore, vendors and merchants making an honest living are prone to all sorts of fraud cases involving fake notes. If all the retail outlets or mamaks or small vendors would start to use the eWallet, we could definitely see a reduction in these cases.
With Touch ‘n Go eWallet, they have a security guarantee in place through this policy to make sure that unauthorised transactions will be dealt with accordingly.
Submission of Claims
Upon successful verification of your Touch ‘n Go eWallet account, you’ll notice a Protection Shield’ icon visible on your edit profile button.
If you find that you’ve been charged with unauthorised transactions in your eWallet account, you can then click on the Money-back Guarantee Policy in the app. You may submit your claims via tngd.my/mbg or within the app itself.
You will then be prompted to a form. The next step of the verification process involves filling up the form with details of the case and attaching proof of receipts and any other relevant documentation.
The eWallet team will then investigate and if the claims are proven legitimate, refunds will be processed and reimbursed within 5 working days.
With such initiation by TNG Digital, users should feel more at ease using their eWallet. The transition from cash to cashless isn’t and will not be easy for some. However, knowing that such a policy is in place should see Malaysia converting to a cashless society. I look forward to seeing what Touch ‘n Go eWallet will have in store in the future for its users.
If you need more convincing or just wants to be educated about digital safety, check out this special Cashless Confidential video series here:
If you haven’t already, sign up for Touch ‘n Go’s eWallet. Download their app, use my referral code – fc7gwv and don’t forget to get verified via the app.
Using the code will get you 5x toll rebates up to a maximum of 50x.