E-payment via NFC available in Malaysia in 2 months’ time

KUALA LUMPUR: Prepaid e-payment card provider, Touch ‘n Go Sdn Bhd (TNGSB) will enable its customers to use their smartphone as Touch & Go card via near field communication (NFC) technology in two months’ time.

NFC is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually no more than a few centimetres. Present and anticipated applications include contactless transactions, data exchange, and simplified setup of more complex communications such as Wi-Fi and also possible between an NFC device and an unpowered NFC chip or called as “tag”.

TNGSB’s chief executive officer Abdul Karim Md Lassim said the company was collaborating with Maxis and CIMB for the pilot project. He added that TNGSB is targeting to sell 1.3 million cards this year and also working to enable Touch ‘n Go users able to reload their cards using current account and saving accounts too.
TNGSB is a private limited company incorporated in October 1996 whose shareholders are CIMB Group Holdings Berhad, MTD Capital Berhad and PLUS Expressways Berhad. It’s core product – Touch ‘n Go card provides users with a means to perform cashless low value transactions which is simple and convenient. It totally discards the need to carry and search for loose change when making payments.

by VSDaily.com Team