TNG Digital and UNHCR empower Malaysia’s refugees with financial access through TNG eWallet

 TNG Digital Sdn. Bhd. ('TNG Digital'), Malaysia's largest integrated fintech player, have joined forces with UNHCR, the UN Refugee Agency, to advance financial inclusion for refugees and asylum-seekers in Malaysia. This recent effort is the latest in TNG Digital’s ongoing commitment to providing vulnerable communities with seamless access to essential financial services. 

Following the signing of a Memorandum of Understanding between TNGD Digital and UNHCR on World Refugee Day 2024, refugees registered with UNHCR in Malaysia can access a wide range of essential financial services via the TNG eWallet. These services include making payments, reloading eWallet balances, receiving and transferring funds, and using the Touch ‘n Go eWallet Visa Card for online/offline payments and ATM withdrawals. Additionally, users benefit from enhanced security through the Money-Back Guarantee policy and can earn GOrewards points for exciting deals and cashback. This partnership aims to empower refugees with the financial tools and services necessary to build resilience, improve their livelihoods, and contribute more fully to Malaysia’s economy. 

Refugees and asylum-seekers often face systemic barriers to financial services, leaving them exposed to economic instability and social exclusion. TNG Digital’s ongoing efforts to address these challenges reflect its broader mission to champion financial inclusion for underserved groups, including refugees, migrants, and the unbanked. 

Alan Ni, Chief Executive Officer of TNG Digital, emphasised the company’s dedication to making a positive impact: “At TNG Digital, we believe financial access is indispensable for economic survival and integration. Through our Tech4Good and Digital and Financial Inclusion initiatives, our core sustainability pillars, we harness the power of innovation and technology to empower refugees with essential financial tools and services, enabling them to build resilience, achieve greater independence, and contribute to Malaysia’s economy. Our partnership with UNHCR reaffirms our commitment to driving meaningful change for those who need it most.” 

UNHCR Representative in Malaysia, Louise Aubin added, “This collaboration with TNG Digital exemplifies the crucial role that the private sector plays in protecting and achieving long-term solutions for refugees. This partnership will provide refugees with access to financial services that many of us often take for granted – as simple as allowing them to securely save money and participate in the local economy to better care for themselves and their families.” 

“UNHCR is deeply appreciative of TNG Digital’s commitment to enhancing the self-reliance of refugees – a key stepping stone in supporting the dignity and self-reliance of refugees.” 

The launch of this meaningful initiative was made possible through the generous support of TNG Digital’s long-term partners, PayNet and Visa. As steadfast advocates for financial accessibility, both partners have consistently demonstrated their commitment to driving inclusive financial solutions through their work. Their sponsorship played a crucial role in bringing this effort to fruition and kick-starting its journey toward greater financial inclusion. 

“At PayNet, we believe financial access is a fundamental right, and we are committed to ensuring that no one is left behind in the digital economy. As Malaysia’s national payments infrastructure provider, we collaborate with partners like TNG Digital to enable secure and inclusive payment solutions that bridge financial gaps. This initiative with UNHCR demonstrates the power of collaboration in expanding access to essential financial services for refugees, helping them integrate more seamlessly into the economy while ensuring a safe and regulated payment ecosystem,” said Gary Yeoh, Chief Marketing Officer at PayNet. 

“At Visa, we believe that financial inclusion is crucial for fostering economic growth and social stability. By enabling financial inclusion and ensuring more people have access to digital payments, we empower individuals and communities to have access to essential financial services and be part of the digital economy. We work directly with Governments, NGOs, multilateral organisations, and our financial services partners and are incredibly proud to partner with UNHCR and TNG Digital today to provide refugees in Malaysia with essential financial services through the TNG eWallet. This partnership underscores our commitment to creating inclusive financial solutions that help build resilience, improve livelihoods, and contribute to a more inclusive society," said Previn Pillay, Visa Country Manager for Malaysia. 

As of end May 2024, Malaysia is home to over 192,170 refugees and asylum-seekers registered with UNHCR, primarily from Myanmar and other conflict-affected regions. This partnership underscores the critical role of financial services in fostering resilience and self-reliance among forcibly displaced individuals.  

By enabling greater financial access for refugees, this collaboration not only improves their livelihoods but also contributes to Malaysia’s vision of a more inclusive and prosperous society. 

To learn more about TNG Digital’s efforts to drive financial inclusion for refugees in Malaysia, visit https://www.touchngo.com.my/ewallet/financial-inclusion/unhcr/.