Many years ago when I was writing about e-wallets, I endorsed multiple e-wallets of my choice such as Boost & GrabPay. When Boost started to launch & when they had their “shake” cashback, I was one of the biggest fans until they changed their rewards system which also led to the loss of market share. Later on, I started to use GrabPay as my main e-wallet until recently.
Comparing how Grab & Touch’nGo’s e-wallet interface looks like, the Grab app is a one-stop solution when it comes to e-hailing, food delivery, grocery & other services. As for the Touch’nGo e-wallet, their app focuses a lot on payment related to their ecosystem followed by other third-party services. The reason why I like GrabPay compared to Touch’nGo previously was due to their GrabPoints where I can redeem discounts on food & other services. Over the years, the reward system has also changed and we are earning fewer points from our spending compared to the previous reward points. For some reason, many merchants have also prioritized on general QR pay codes instead of dedicated GrabPay codes which also affects Grab reward points. You won’t be able to earn Grab Points if you are paying using your GrabPay to general QR pay code. This has also led to less opportunity for me to redeem Grab Points each time I make a payment via e-wallet.
Touch’nGo on the other hand has also added multiple features over the years. Aside from having merchants from small to large, their payments are made available almost everywhere. I can pay for a Ramly burger using Touch’nGo e-wallet & even pay at a pricier restaurant too. Even my recent durian purchase was paid using Touch’nGo e-wallet.
When they started to introduce RFID toll payment, I was not the first who actually used this service until my brother gave me his RFID sticker. Even after I pasted the RFID sticker on my car, I was still using traditional Smart Tag & manual Touch’nGo lanes for some weird reasons. Shell has also recently introduced RFID payment where they will scan your RFID to proceed with payment. This is when I realize the convenience of RFID payment since it will be deducted directly from my e-wallet.
Aside from that, one of the features that I like the most about Touch’nGo is their GO+ where we can earn daily interest up to 2% per annum. An average of RM500 in my GO+ account allows me to earn RM0.04 per day. That is RM1.20 per month or RM14.40 per annum. It is the only e-wallet that offers daily interest therefore you should consider topping up your e-wallet to earn the daily interest. I am using my AirAsia card to top up & I am earning AirAsia points from each top-up (RM500 divided by 3 = 166 AirAsia Points). It is a win-win situation for me since I can just convert from credit card spending to Touch’nGo while still enjoying both rewards for AirAsia Points & daily interest. The only problem is, the Touch’nGo maximum top-up amount using a credit card is capped at RM1,000 & if the amount exceeds RM1,000, you will have to either pay 1% of the administration fee or you will have to select non-transferable.
There are other services where you can utilize such as parking, GOpinjam (loan services), GOprotect (insurance), bill payments, GOinvest (investment) & other services. During the festive season, they have also created a campaign where you can donate or receive “Angpow” or “Duit Raya”. I have also used Touch’nGo recently to purchase my latest CTOS report & I have made a purchase via Apple App Store recently. Aside from that, money transfers between individuals are made easy as I can easily transfer money to my friends or family.
To summarise my opinion on Touch’nGo e-wallet, it is an easy investment platform where we can earn a small token via GO+ & a convenient way of making a money transaction. My only wish for Touch’nGo is for them to enhance their rewards, especially on their Goal Hunters where they only limit to 10 stamps. Aside from that, I have no complaints as it has made my life convenient where I do not have to bring cash out anymore & I can make all my payments via my mobile phone.
OSS!
You can also check out my latest YouTube video on Why Do You Need Financial Planning?
