TnG Digital Will Mandatory eKYC Verification For All Their Users By The End Of 2024

The eKYC or electronic Know Your Customer system is a customer verification process that is done digitally, and Touch'n'Go Digital, through their TnG eWallet product has announced that they will implement eKYC for all their new and old customers by the fourth quarter of 2024.

Alan Ni, CEO of TnG Digital today announced at a media event that 77 percent of existing customers have done eKYC verification to ensure their accounts are secure and enable TnG Digital to help customers in terms of issues such as financial fraud and so on.

He further said that TnG eWallet will send a reminder to their users who have not yet done eKYC verification to do so, and said that this eKYC process will be mandatory for all old and new users of TnG eWallet by the third and fourth quarter of this year (2024).

For users who do not perform eKYC verification after a certain date to be announced later, Alan said that the unverified TnG eWallet account will be closed, but only after several reminders are given to perform the verification, or to empty their digital wallet account.

When asked why this was done, Alan said that this was to further reduce the rate of digital transaction fraud, and with eKYC verification, it would be easier for TnG Digital to help their users if their accounts were compromised.

So far, the only statement given regarding when this mandatory eKYC verification process will be implemented is in the third or fourth quarter of this year.

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