TNG Wallet partners with 7-Eleven stores
TNG Wallet is partnering with 7-Eleven Hong Kong to launch 24×7 payment and cash-withdrawal services.
Consumers will be able to pay for purchases using TNG Wallet at all 7-Eleven stores while verified TNG Wallet users will be able to withdraw cash from their accounts thereafter. TNG already offers a top-up service at 7-Elevens. The co-operation with 7-Eleven extends its global cash pick-up points up to more than 180,000.
Since receiving a stored-value facilities licence from the Hong Kong Monetary Authority last August, TNG has built an international fintech infrastructure and network with such services as global remittance, person-to-person (P2P) money transfer, global bill payment, global SIM card airtime top-up, foreign currency exchange and purchases, and cash withdrawals.
At Hong Kong’s 7-Eleven stores, its wallet users can withdraw up to HK$500 (US$64) a time.
Advanced services such as cash withdrawal is limited to verified SVIP and VIP users. Users can register for a SVIP account through a face-to-face identity process that takes about 15 minutes. To register for a VIP account, users need to upload a digital copy of their ID card.
TNG Wallet founder/CEO Alex Kong says there has been more than 600,000 downloads of the app so far.
Beyond Kong Kong, TNG Wallet can be used in 12 countries – Bangladesh, China, India, Indonesia, Malaysia, Nepal, Pakistan, Singapore, Sri Lanka, Thailand, the Philippines and Vietnam. Verified users can remit money instantly to anyone in these countries, and there are more than 180,000 cash pick-up points.