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10 July 2019

[E-Wallet] Money-Back Guarantee by Touch'nGo eWallet?

In a recent study by Nielsen Malaysia on Malaysia’s shifting payment landscape, only 8% of Malaysians have adopted the use of e-wallets. Why? Withdrawing cash from bank ATM not risky? Using credit card not risky? Online banking transactions not risky?


One of the major reasons highlighted as a barrier to cashless adoption is that 46% of Malaysians are concerned about security measures and fraud risks related to digital payments.

What is Money-Back Guarantee?


In order to address this security and fraud risks and to boost consumers confidence, Touch'nGo (TNG) recently rolled out its "money-back guarantee" policy, dubbed as the first-ever safety and security policy for mobile payments in Malaysia



The "Money-back Guarantee" promises full compensation within 5 days if your TNG eWallet is being charged with unauthorised purchases or reload. Their enhanced security features protect you from any risk of losing your eWallet balances through unauthorised transactions:

  • Artificial Intelligence & Machine Learning - Track and analyse data to detect and prevent unauthorised transactions
  • Human Intervention - Dedicated risk team for further monitoring and strengthening the back-end security system



How to define "unauthorised transactions" ???


An "unauthorised transaction" occurs when the stored value (wholly or partially) is sent from your TNG eWallet account without you authorising it and due to no fault of your own.


Please note that if, however, you authorise/allow someone to access your TNG eWallet account (for instance, provide them with your login information or 6-digit pin) and they conduct transactions without your knowledge or permission, TNG will not be responsible for all the consequences arising from this manner of unauthorised use and such transactions will not be covered under this Moneyback Guarantee Policy.




Is this Feature comes Automatically?
No. If you want to be covered under ‘Money-back Guarantee’ Policy, then you have to:

  • Completed your TNG eWallet account upgrade by completing a full verification process and validated by TNG team
  • The source of funds for the unauthorised transaction must originate from the your own TNG eWallet account, and;
  • You must notify TNG in the manner prescribed herein within 60 days from the date of the unauthorised transaction.


Question: The unauthorised transaction happened on 18 June 2019, I filed my claim on 25 June 2019, but I only verified my account on 1 July 2019. Will I be covered?

Answer:  Yes, the user is covered since the eWallet account has been verified and the claim submission is done within 60 days of the unauthorised transaction date, 18 June 2019. However, the user shall be required to resubmit the claim after the user has verified his or her account.

Click here to Download and Read the full Terms & Conditions.


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