TNG Digital Sdn. Bhd., the parent company of TNG eWallet, has announced that all users must complete electronic Know-Your-Customer (eKYC) verification from December 20, 2024.
In a press release shared with WeirdKaya, the company stated that the initiative, launched earlier this year, aims to improve security, enhance features, and comply with regulatory requirements.
eKYC enables users to verify their identity digitally by uploading an ID card and a selfie for facial recognition.
Users simply upload a photo of their ID card and take a selfie for facial recognition, eliminating the hassle of paperwork or in-person visits. The system securely matches user’s ID with their photo to confirm their identity.
Verified users gain enhanced protection, as eKYC adds an extra layer of security by reducing the risk of fraud and unauthorised access.
Alan Ni, CEO of TNG Digital, said that implementing full eKYC is an important step in strengthening platform security and minimizing risks.
This measure is crucial in enhancing platform security and reducing the risk of account takeovers,” he said.
Currently, non-eKYC users are limited to a low eWallet balance and can only access basic payment and toll features, including NFC card top-ups and RFID.
With the full implementation of eKYC on 20 December, all new users will be required to complete eKYC verification to use TNG eWallet.
For existing non-eKYC users, their access will be gradually restricted. These users will face increasing limitations until their TNG eWallet accounts are fully verified, and eventually they will lose access to their eWallet entirely if not verified.
