Touch ‘n Go has introduced a new Premium tier to its Touch ‘n Go eWallet smartphone application, increasing the virtual wallet size to RM20,000 or four times larger than the current limit.

The eWallet provider starts off first-time users at Lite tier, where the eWallet size is RM200. Users will be upgraded from Lite to Pro once they have verified their account with Touch ‘n Go.  

Shell and Touch ‘n Go have started the purchase of fuel via the RFID tag. More about the pilot programme here.

A key benefit of account verification is the money-back guarantee feature for additional protection from unauthorised transactions. For those who are on the Pro tier, the eWallet size is increased to RM5,000, with the annual transaction limit at RM60,000. Thanks to the verification of identity, the transfer of money is also available in the Pro Tier.

To update to the Premium tier, the user would need to make a transaction with either of the Touch ‘n Go eWallet’s “premium” products- Go+ investment feature or CarInsure. Once you are upgraded to the Premium tier, you will be given the option to increase your eWallet limit to RM20,000 or keep it at RM5,000. The monthly transaction limit will also increase to RM25,000, or RM300,000 a year.

An eWallet size containing a RM20,000 balance would certainly be beneficial to the Go+ investment feature, as it is marketed to return up to 1.47% p.a., returned daily (RM0.80 a day). Meanwhile, CarInsure is a product that provides quotation and purchase of motor insurance premiums conveniently from the smartphone application.

Find out more about the new Touch ‘n Go eWallet tier system here.

A huge reason why the usage of Touch ‘n Go at carparks is low- the service charges. The company has plans to remove the surcharges. More about it here!