Transactions via debit cards and DuitNow will continue to remain free of charge.
The decision, according to TNGD’s Chief Executive Officer, Alan Ni, is aimed at addressing excessive withdrawals from credit cards to bank accounts and reducing the significant costs associated with credit card transactions borne by TNGD.
Ni emphasised that TNG eWallet users have the option to choose DuitNow for top-ups, which involves fund transfers between banks, providing a balance between convenience, security, and the long-term cost sustainability of the company. He encouraged users to utilise DuitNow or debit cards for top-ups, as both options are free of charge.
He further explained that while credit cards remain a valid top-up channel, users are urged to consider DuitNow or debit cards, both of which are free alternatives.
This move follows TNGD’s October 2023 decision to reduce the monthly free limit for credit card top-ups from RM5,000 to RM1,000. The adjustment was made to control credit card withdrawals to bank accounts, aligning with TNGD’s efforts to manage costs effectively.