TnG eWallet To Impose 1% Overseas Transaction Charge Starting April 25, 2024

TNG Digital, the company behind the Touch n’ Go eWallet service, today announces that it will soon implement a ‘nominal 1% overseas transaction conversion fee’ for its cross-border QR payment feature. The new policy will come into effect starting April 25, 2024.

The company has noted that this fee is standard across the industry (including eWallets, credit cards, and debit cards) – however, it chose to subsidize such fees until now to promote the use of its eWallet service for international payments. “However, with the increase in overseas travel, we understand the need to ensure our business sustains in the long run. We are committed to continue to provide a seamless cross-border payments to our users,” Alan Ni, CEO of TNG Digital, stated in a press release.

With the implementation of the new fee structure, TNG Digital promises to remain transparent regarding this process – users performing any international transactions will see the transaction charges in real-time before the payment approval.

The company has noted that the fee structure for the TnG eWallet Visa card is not affected by the addition of this fee. It also promised for its conversion fee to be “one of the most competitive rates in the market, all the while maintaining complete transparency in the fee structure.”

Pokdepinion: If you want to avoid the fees for now, best do it before the new policy kicks in.