Touch ‘n Go Sdn Bhd will invest RM60mil in upgrading its back-end
clearing system and introduce a new financial technology (Fintech)
capability by year-end.
Chief executive officer Syahrunizam Samsudin said the revamp effort would enable the company to have a sophisticated back-end system that is capable of handling bigger volume from smartcards to future mobile app usage.
The revamp is expected to accommodate the company’s effort to introduce a new mobile payment technology for easier and cashless payments in the transport and retail sectors.
“In our journey to improve our technology platform, we are now embarking on a very ambitious ecosystem to place a very capable payment system in the hands of the people.
“The public can expect innovations like mobile app and digital wallet
that will allow payment transactions to be made electronically,” he said
on the sidelines of the Bursa Malaysia Bhd and Hong Leong Investment
Bank Bhd (HLIB) Stratum Focus Seminar in Kuala Lumpur on Thursday.
The third installment of the jointly organised Bursa-HLIB half-day seminar themed Fintech Challenging Status Quo focused on what and how disruptive technologies can affect the world and how businesses can adapt to reposition themselves to capitalise on this wave of change.
Syahrunizam said in spearheading the Government's push towards a cashless society, Touch n Go, being the leader in micropayments in Malaysia was now managing 16.2 million active cards.
“We are dealing with an average of five million transactions per day involving 1.8 million customers,” he added.
CIMB Group is Touch ‘n Go’s largest shareholder with a 32% stake.
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Chief executive officer Syahrunizam Samsudin said the revamp effort would enable the company to have a sophisticated back-end system that is capable of handling bigger volume from smartcards to future mobile app usage.
The revamp is expected to accommodate the company’s effort to introduce a new mobile payment technology for easier and cashless payments in the transport and retail sectors.
“In our journey to improve our technology platform, we are now embarking on a very ambitious ecosystem to place a very capable payment system in the hands of the people.
The third installment of the jointly organised Bursa-HLIB half-day seminar themed Fintech Challenging Status Quo focused on what and how disruptive technologies can affect the world and how businesses can adapt to reposition themselves to capitalise on this wave of change.
Syahrunizam said in spearheading the Government's push towards a cashless society, Touch n Go, being the leader in micropayments in Malaysia was now managing 16.2 million active cards.
“We are dealing with an average of five million transactions per day involving 1.8 million customers,” he added.
CIMB Group is Touch ‘n Go’s largest shareholder with a 32% stake.
Click here for Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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