KUALA LUMPUR, Oct 4 (Bernama)– Touch’N Go Sdn Bhd (TnG) is looking at increasing the usage of its cashless payment system at retail outlets by 10 per cent per year for the next five years.
TnG’s retail segment now constitutes less than two per cent of its total card usage while more than 90 per cent is from highway tolls with the remainder from rail and bus services as well as parking sites.
Its chief executive officer Abdul Karim Md Lassim said hopefully within the next five years, TnG would have a breakdown of 50 per cent for retail outlets and 50 per cent for the transportation sector.
“After we perfected the art, we hope to move by leaps and bounds. 50-50 is the ideal situation. We don’t want to be known only in the transportation sector,” he told Bernama after the official opening of its head office at Bangsar South by Works Minister Datuk Shaziman Mansor.
Karim said TnG will be actively increasing customer touchpoints at its pilot general retailers such as 7-eleven, Burger King, Dunkin Donuts, The Chicken Rice Shop and Starbucks while looking for more participating retail outlets.
“We’re also focusing on micro payment, which is the purchase of RM200 and below,” he said.
TnG’s total card base now exceeds nine million.
Meanwhile CIMB Group chief executive Datuk Seri Nazir Razak earlier said since becoming a majority shareholder in TnG, CIMB Group has come up with a RM200 million investment plan to enhance TnG’s IT and systems infrastructure.
“We see this as a strategic and necessary move to ensure TnG remains fully focused on providing superior services at multiple convenient touchpoints,” he said.
CIMB Group owns 52 per cent of Touch’N Go Sdn Bhd.