Thailand’s TrueMoney enters our country!
TrueMoney was co-founded by Ant Financial, an Alibaba Group subsidiary, and Thai payment company Ascend Money. TrueMoney electronic payment currently has over 50 million users.
TrueMoney e-wallet is the first in Malaysia to support scanning code payment in the Lotus hypermarket chain. TrueMoney e-wallets can be used to scan QR code payments in Lotus’s. TrueMoney, on the other hand, does not yet support DuitNow QR in Malaysia, so it cannot scan the DuitNow QR code in Malaysia.
To promote the TrueMoney e-wallet, you can now receive an RM8 cash rebate when you spend RM38 at Lotus’s and pay with TrueMoney, and each user can receive two cash rebates. You can get an RM5 cash rebate if you use Visa Card as your preferred top-up method and top up RM50.
Users can load their TrueMoney e-wallet with funds from a credit card, debit card, or FPX. Ordinary users can only deposit RM200 into the TrueMoney e-wallet, whereas premium users can deposit up to RM10,000. To become premium users, users must simply complete a simple eKYC electronic identity verification procedure.
TrueMoney accepts payments in Malaysia, Vietnam, Cambodia, Myanmar, and Indonesia, in addition to Thailand. TrueMoney has over 88,000 payment locations in Southeast Asia.