TNG Digital Sdn Bhd, the company and owner of the TNG eWallet, announced that it plans on implementing eKYC for all customers using its service, shifting from
a stance of encouragement to mandatory implementation.
One proven benefit that TNG Digital touts with eKYC is the reduction of fraud; by making key security and verification features such as facial recognition a critical requirement, it could reduce the potential for fraud by 90%. Not only that, but it also claims that it will have the bragging rights of being one of the first eWallets in the country to implement a 100% eKYC security solution for its service.
To that end, TNG Digital is making it clear that it is implementing the eKYC by the end of this year and more specifically, between Q3 and Q4. As mentioned at the start of the article, whether its customers like it or not, they will need to fall in line with the upcoming security requirements. To put it in another way: either get with the program or lose access to many of the privileges the eWallet offers.
On a related note, TNG Digital did acknowledge that while there will be some resistance, it says that at least 77% of its customers have already verified themselves as eKYC users.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TNG eWallet Soundbox now offered from RM10/monthThe TNG eWallet Soundbox can help merchants prevent QR scams. When a customer makes a QR payment, the Soundbox will announce and display the transacted amount.
Read more »
Labuan Firemen Save Over 100 Wooden Houses from Potential DisasterLabuan firemen successfully averted a potential disaster by saving over one hundred wooden houses at the water village of Patau-Patau 2. Only one house was destroyed in the fire incident.
Read more »
W206 Mercedes C350e PHEV with 100 km EV range launched in Thailand, from RM420kMercedes-Benz has launched the W206 C 350 e plug-in hybrid in Thailand, arriving in the Land of Smiles for the 2023 model year in sedan form with the AMG Dynamic trim specification. This has launched …
Read more »
AEON Bank gets BNM nod to become Malaysia’s first Islamic digital bankAdvocacy of digital tech will facilitate introduction of innovative products Chance for AEON Group Malaysia to provide more to loyal customers & partners AEON Bank (M) Bhd (formerly known as ACS Digital Bhd) has announced approval from the Bank Negara Malaysia (BNM) and the Ministry of Finance to commence its digital banking operations in...
Read more »
DisruptInvest to gather 1000+ entrepreneurs, investors & corporates to drive startup investments & acquisitionsNEXEA and Digital News Asia announce the annual DisruptInvest Summit on the 23rd of May 2024.
Read more »