TrueMoney, one of Southeast Asia's leading fintech companies, announced today the expansion of its e-wallet ecosystem to include Malaysia's preferred convenience stores, myNEWS and CU Mart. The addition of these two large retailers allows Malaysian consumers to conveniently purchase a wide range of items from both merchants, enabling them to access food and beverages, personal care products, and other essential necessities with just a simple scan.
Established in 2003, TrueMoney has experienced remarkable growth, expanding its operations to encompass seven countries, including Malaysia. With over 50 million downloads of its app, TrueMoney has successfully reached and served a vast user base across Southeast Asia.
Through this partnership, merchants can also take advantage of TrueMoney's e-wallet offerings and solutions, benefiting from various marketing promotions, such as instant cashback and giveaways. This collaboration aims to enhance the customer experience and provide greater convenience and value to merchants and consumers.
TrueMoney Malaysia users can now make transactions at approximately 10,000 merchants and more than 25,000 payment points, including retail, game credit top-up, insurance and restaurants, with myNEWS and CU Mart being the latest additions to this growing list of merchant partners.
Dang Tai Luk, Founder and Group CEO of myNEWS Malaysia stated, "From our humble beginnings as a newsstand to becoming the largest homegrown retail convenience store chain, we have been committed to our customers. We strongly believe our customers must enjoy every aspect of their experience in our store, including how they pay. Your convenience is our first priority. Both TrueMoney and myNEWS share this goal and this shared commitment to customer-centricity is what makes our partnership with TrueMoney so promising. Together, we aim to provide Malaysians with unparalleled convenience in their daily lives, fostering a long and fruitful partnership.”
With an extensive network of stores across various cities nationwide, both myNEWS and CU Mart have solidified their presence in the country, where each store offers daily and personal care essentials such as household items, personal hygiene products, pharmaceutical products, ready-to-eat meals, hot foods and exclusive drinks and snacks at an affordable price and convenience.
Ever since its launch six months ago, TrueMoney Malaysia has rapidly expanded its presence and the growth trajectory remains strong, with continuous developments anticipated in the coming months. Notably, popular local and international brands such as Lotus's Malaysia, Tealive, Chatime as well as Super Dining Group including Rakuzen, Sushi Zanmai, Sushi Jiro and many more have embraced the TrueMoney e-wallet app, contributing to the advancement of digital payments in Malaysia.
Jessie Chong, Ascend Group’s Country Managing Director, said, "We are actively expanding TrueMoney's coverage in Malaysia, connecting with more local and international merchants. Our aim is to become a preferred choice for digital purchases, providing Malaysian customers with an enhanced experience at our merchant payment points. With our in-app instant cashback and payment convenience, customers can enjoy a seamless and rewarding digital transaction experience. We are committed to growing our network further, enabling more merchants to integrate the TrueMoney eWallet into their systems, and fostering a positive e-wallet ecosystem for our business partners and customers.”
From August onwards, TrueMoney e-wallet users can take advantage of the TrueMonthly 50% Cashback campaign, receiving up to 50 per cent cashback on payments made at all myNEWS and CU Mart outlets from the 15th to 18th of each month. Furthermore, TrueMoney is also providing an exclusive RM2 cashback to e-wallet users for purchases at myNEWS, available from 1st August until 30th September, with a minimum spend of RM15.