The feature is available to TNG eWallet users, allowing them to earn returns on their GO+ balance which will be credited daily.
“GO+ will also carry a ‘cash-out’ feature that will allow movement of funds seamlessly between the user’s eWallet and designated bank account, ” said the group’s chief executive officer Effendy Shahul Hamid in a statement to launch the product.The GO+ product is anchored on the Principal e-Cash Fund, a money market fund managed by Principal Asset Management, a leading Asean asset management company.
The product combines TNG eWallet’s expertise in technology and ecosystems and Principal’s strengths in investment strategy and fund management. Touch ‘n Go eWallet is the first eWallet provider to obtain approval as a recognised market operator by the Securities Commission of Malaysia. The approval enables the company to directly distribute capital market products, including money market unit trust funds, through the TNG eWallet platform, without having to be directed to a third-party application.
With GO+, Principal Asset Management chief executive officer Munirah Khairuddin said all Malaysians, irrespective of their financial background, could now start to invest and inculcate the habit of investing, saving, whilst spending.