KUALA LUMPUR: Touch 'n Go Sdn Bhd has added another feather to its cap by winning the Nation's Favourite Brand Award in the Fintech Category—Mobility Solutions at the recent BrandLaureate Best Brands Awards 2022/2023.
Chief executive officer Praba Sangarajoo said the company is honoured to receive this recognition as the nation's favourite brand for mobility solutions and extends gratitude to all Malaysians for their trust over the years.
"We have endeavoured to bring greater levels of seamless cashless convenience and security by leveraging innovative homegrown technology to deliver unique value propositions to our users.
"This award serves as a recognition of the hard work and collaborative efforts of our dedicated teams of talented Malaysians within Touch' n Go," he said in a statement.
Praba explained that Touch' n Go has been continuously exploring new ways of enabling users to have a more hassle-free travel experience, especially for those who commute daily.
"Touch 'n Go RFID (radio-frequency identification) was developed to provide a more seamless and convenient way of making toll payments.
"Beyond enabling seamless payments for tolls, we have also expanded the RFID mobility use case to allow contactless fuel payments.
"With more and more people appreciating the contactless and seamless convenience that RFID offers, we have seen strong growth in its adoption and usage, and we now have close to three million customers, and this number is rapidly growing," he said.
Looking forward into the future, Praba said that given the strong RFID adoption amongst Malaysians, the company is confident that Touch 'n Go RFID, wholly developed by Malaysian talents, will be a key enabler for the multi-lane fast flow (MLFF) implementation in Malaysia.
"We are constantly innovating to cater to the diverse needs of our users in Malaysia's evolving digital landscape.
"This award motivates us to continue developing and introducing differentiated products and services using our homegrown talents and technology, which add value and provide seamless cashless convenience to our users' daily lives," added Praba.
Touch 'n Go has led the digital transformation of Malaysia's progress towards a cashless society for more than two decades, with the Touch 'n Go card playing a significant role as one of the initial drivers of cashless mobility.
The company has since expanded this payment form factor across other mobility verticals, creating an integrated platform within the nation's increasingly complex mobility ecosystem for people to conveniently pay for tolls, bus, ferry and rail transportation, and parking.
The introduction of Touch 'n Go's Near-Field Communication (NFC) reload capabilities was a massive game changer to how Touch 'n Go products are used for cashless payments as it enabled users to perform conveniently reloads directly via their mobile phones within seconds,
anytime, anywhere.
Besides the enhanced Touch 'n Go card, the company added special design cards and charms to its NFC-enabled product range, allowing more personalisation for its users.
Users are also assured that their transactions using these products are safe and secure through the Touch 'n Go e-wallet.
Beyond tolls and transit, Touch' n Go's cashless convenience extends to seamless payments for carparks.
There are currently approximately 1,500 Touch 'n Go-enabled parking sites nationwide where users can handle having enough cash for parking or locating a machine or kiosk to make payment.
To cater to the needs of its users looking for convenience and peace of mind when parking their car, Touch' n Go has recently introduced its personal accident insurance/takaful, ParkInsure, which is available via the Touch 'n Go e-wallet.
ParkInsure provides affordable insurance protection at a premium of only RM5 per month, designed with accessibility for all segments of society.
Coverage starts when users use their Touch 'n Go card to enter a carpark.