TNG Wallet is the most popular e-Wallet in Hong Kong with the largest P2P network, being the only e-wallet for taxi payments, and widely available at numerous point-of-sales including 7-Eleven, retails, restaurants, and outlets.
AREA OF FOCUS:
Mobile payment in Hong Kong is arguably one of the most competitive marketplaces in the region particularly given the relative size of the population (5.4 million smartphone users according to Statista and 87% smartphone penetration according to Nielsen, Google & Ipsos).
Since its launch in 2015, TNG has become Hong Kong’s leading e-Wallet with the largest P2P network with over 370,000 downloads and usage rate, comprising around 5% of Hong Kong’s population. TNG is the only e-wallet for taxi payments, and widely available at 2,000 retail outlets. With offers such as zero transaction fees and immediate cash withdrawal, TNG is targeting smartphone-savvy migrant workers with a newly launched instant money transfer service to 12 countries. Nogle has facilitated and procured funding to invest in TNG and establish a new joint venture for expanding TNG’s footprint in Southeast Asia.
Key features of TNG Wallet:
Global Instant Money Deposit/Transfer/Withdrawal
TNG is HK’s first licensed e-Wallet to offer cross-border financial transactions. TNG users can top-up using their credit card or at local 7-Elevens, then transfer money via the TNG app to over 800 banks in 12 other countries. Recipients can immediately withdraw cash at more than 190,000 available cash pick-up points.
Merchant Payment, Bill Payment & P2P Transfer
TNG users can pay merchants at point-of-sales (POS), make bill payments, or transfer money with each other, without incurring transaction fees, across TNG’s network.
Foreign Exchange (Real-time)
TNG users can now transact in 16 foreign currencies in real-time at very favorable exchange rates compared to traditional channels. They can collect currencies purchased from any of 27 conveniently located foreign exchange outlets in HK within three days.