KUALALUMPUR, 7 June 2021 – Touch ‘n Go Group today announced that it has achieved a very important milestone where its financially inclusive investment product GO+ is concerned. The Group announced that GO+ users have surpassed the1 million mark. All this was achieved in just over two months. GO+ was launched on 29 March 2021.
“We are pleased that we’ve been able to get to this milestone in just over two months, and well ahead of our internal estimates. We will now build on this success and add more varied products in this category. We will also be making improvements to GO+ on the back of some very encouraging customer driven feedback and data on user experience,” said Effendy Shahul Hamid, Group Chief Executive Officer, Touch ‘n Go Group.
“Many of our users found the fungibility function between the GO+ balance and Touch ‘n Go eWallet use cases very attractive, and that drove sign-up’s. Another data point we were also encouraged by is the reach of this proposition and its agendas around inclusion. 73% of GO+ users are from outside the Klang Valley, and that number continues to grow,” added Effendy.
Touch ‘n Go launched GO+ on 29 March 2021 as its first step into the area of digital financial services. GO+ is a financially inclusive investment product that allows Touch ‘n Go eWallet users and all Malaysians to gain access to low-risk money market investments for as low as RM10. Aside from being able to earn more than banking current accounts, GO+ balances can also be used across all Touch ‘n Go eWallet payments use-cases.
In addition to GO+, Touch ‘n Go also introduced +Kawan campaign which allows referrers’ to reap the benefits from referring their friends/families to onboard to GO+. Referrers earn 1% p.a. bonus return rate per friend, with no limit on the number of friends they can invite. To date, a record of top three referrers has introduced 153, 133 and 74 of their friends (referees)respectively with the +Kawan campaign. Furthermore, referees who have inserted the referral code will stand a chance to win a SonyPlay Station 5 for him/herself and also the referrer.
The funds in GO+ are managed by Principal Asset Management (“Principal”),Malaysia’s largest fund manager. The funds are invested predominantly intoshort term bank deposits with the top banks in the country (e.g. Public Islamic Bank, CIMB Islamic, RHB Islamic Bank and Hong Leong Islamic Bank) thusemphasising the funds are well managed, safe and secure.
Touch ‘n Go eWallet is the first eWallet provider to obtain approval to operate 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 Touch ‘n Go eWallet platform, without having to be directed to a third-party application.
Click here for more information and updates about GO+