Starting from April 25th, TNG eWallet users will be charged a 1% conversion fee for using their QR payment feature abroad. This fee aims to discourage the practice of cashing out credit card balances and offset the high costs of processing credit card transactions. The fee is already included in the daily exchange rate for cross-border transactions.
April 25th, e-payment platform TNG eWallet users will be charged a 1% conversion fee for using their QR payment feature abroad. Previously, users only encountered this charge for manual credit card reloads exceeding RM1,000.
Additionally, the company seeks to offset the high costs associated with processing credit card transactions. As TNG eWallet sees increasing popularity for overseas payments, it is now available in 40 countries. The move comes as TNG eWallet in February encourage its users to utilise debit cards or DuitNow bank transfers for e-wallet reloads, in order to prevent a 1% charge for reloads via credit card.
TNG Ewallet QR Payments Conversion Fee Abroad Cashing Out Credit Card Transactions
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