Hong Kong TNG Wallet Details Features of Release Version 2.0
TNG Wallet has announced the launch of TNG Wallet 2.0 – the next step in its Hong Kong digital payment ecosystem. TNG Wallet 2.0 has three significant upgrades: 365 days year-round cash withdrawal hotspots, bank transfer and instant credit card top-up service, and TNG Membership. Other recent achievements include facilitating e-payment for taxi rides in Hong Kong and winning various international FinTech accolades.
The addition of 27 year-round cash withdrawal hotspots offer users emergency cash access to progress TNG Wallet’s strategy of transforming Hong Kong into a “cashless” city. Launching a cash withdrawal service in consideration of local market practice allows TNG users to enjoy both cash and cashless spending convenience in daily transactions. Partnering with First International Resources Ltd. and Unison Foreign Exchange Ltd., TNG Super VIP members can now withdraw up to HK$50,000 in cash per day from their TNG Wallet by scanning the QR code of the withdrawn amount with their smartphone and entering the transaction PIN at the 27 strong Unison and MTR line-bound First Exchange hotspot network.
Joining the new TNG Membership will allow members to have access to premium transaction, value storage, withdrawal and top-up experiences through TNG Wallet. A three-tier membership structure provides different cashless payment options, allowing users to register for Normal, VIP or SVIP membership. Users will benefit from an array of basic services such as Person-to-person (P2P) Money Transfer to friends, Real-time Bill Payment, Person-to-merchant (P2M) Payment, Receiving Payment, e-Coupons and e-Tickets, to upgraded services like bank transfer, credit card top-up and cash withdrawal exclusively for VIP Members and SVIP Members. The process is said to take 30 seconds for normal members but those seeking VIP Member applications, users are required to submit personal information through their smartphone; whereas for SVIP Member, users have to complete a registration in person.
Alex Kong, Founder and Chief Executive Officer of TNG, stated: “The flexible TNG Membership is highly customisable for users to tailor their e-payment needs. TNG will expand its offerings to members from time to time for optimal user experience.”
Bank Transfer service allows VIP and SVIP members to transfer the stored value in their TNG Wallet to over 20 licensed banks without any handling fee. The service has a minimum transfer amount of HK$100 with no limit and unlimited daily transaction that will be settled within one working day at the earliest.
Apart from Bank Transfer services, TNG VIP or SVIP members can have extra top-up convenience, anytime and anywhere, by link up their credit cards (applicable to VISA Card and MasterCard issued in Hong Kong only) with the same printed name of users to their TNG Wallet upon membership registration. Once the application is verified, the credit card will be added as a top-up option for TNG Wallet.
Kong remarked: “Our VIP or SVIP members can link up more than one credit card with their TNG Wallet after submitting an application via their smartphone, and this provides added convenience in times of urgent or unexpected cash need.”
After reaching cooperation agreement with the city’s prominent taxi operators, TNG Wallet has also detailed progress with furniture chain store Pricerite.
After connecting 32 Pricerite outlets in Hong Kong with TNG Wallet, Kong commented: “TNG Wallet allows enterprises to minimise their operating costs, and leverage the convenience of e-payment to attract customers. We are looking to extend our cooperative network and collaboration with the Hong Kong business community across all industries, to speed up the development of the e-payment industry and bring more tangible and cost-saving e-Wallet benefits to our merchants and users through the ever-widening adoption of such a concept.”
Through cooperation with charitable organisations Mother’s Choice and Helping Hand, TNG Wallet is also a direct channel for charitable donations.
Kong explained: “High administrative costs have always been a concern for fundraising activities among charities, and TNG Wallet offers them an effective solution. From now, Hong Kong people can make charitable donations via TNG Wallet with just a few clicks on their smartphone, while charitable organisations no longer require a large number of street fundraisers; this significantly increases efficiency and reduces administrative costs. It has only been eight months since TNG Wallet’s inception and launch, and TNG Wallet will continue to innovate and dedicate its leading-edge technology to optimise its existing services and launch new features. The more intuitive TNG Wallet 2.0 significantly enhances our Membership system, service coverage as well as cash withdrawal, top-up and transfer features, and we are confident that TNG Wallet 2.0 will soon become a “must-have” among Hong Kong people.”