Highlights

Digi moves into fintech sector with e-wallet app, vcash

 Publish date: Thu, 9 Nov 2017, 11:04 PM

SHAH ALAM: As Malaysia is heading towards becoming a cashless society, Digi Telecommunications Sdn Bhd (Digi) today introduces vcash - a e-wallet mobile application.

Announcing its entry into the fintech space, Digi is offering Malaysians an easy way to pay, send, request and store money in their smartphones regardless of banks or telcos they are using.

Beyond payments, vcash also enables funds transfers between vcash users and non-vcash users, facilitates cash deposits and withdrawals at any time, and purchase of items from the in-app vcash store.

Digi's Chief Digital Officer Praveen Rajan said users do not have to pay any transaction fees for using any of vcash features.

The company also announced its nationwide merchant line-up with notable brands including Astro Go Shop, Ezbuy, Fish & Co., Life Juice, Manhattan Fish Market, Mydin, NY Steak Shack, Sam's Groceria, and Tony Roma's, where Malaysians can use vcash to pay for purchases.

To date, vcash is available at 500 physical touchpoints nationwide, and the brand aims to grow these touchpoints to 2,000 by year-end.

Apart from its ease of use, Praveen said vcash is also convenient as it can be used at any time and place, and allows the user to keep an eye on their expenditure online.

"Users only need to download the app, set up an account and deposit money into it before making payments.

"Simply scan the merchant's QR code and input the payable amount to make payment. All transactions are completed with a six-digit PIN or fingerprint authorisation," he said, touching on the security aspect of the app.

He also said that users have the choice to deposit money into the app at any Digi store or they can do it online via FPX or JomPAY.

In addition, vcash will also be made available as a payment option for merchants under MOLPay and iPay88's online payment gateway networks, enabling consumers to transact using vcash with thousands of online merchants nationwide.

vcash is offered by Digi in partnership with Valyou Sdn Bhd, an e-money issuer authorised by Bank Negara Malaysia (BNM) and is now available for all Malaysians on the Google Play Store or Apple App store for free.

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