TNG Digital, the company that manages Touch ‘n Go eWallet (TNG eWallet), has officially launched e-Mas (not to be confused with Proton’s EV sub-brand), which allows Malaysians to invest in digital gold easily from the eWallet app. The latest investment product is part of the TNG eWallet’s efforts to provide financial empowerment and accessibility for all Malaysians.
With e-Mas, TNG eWallet users can start buying gold from as little as RM10. Users can monitor the daily gold prices from the same app, and buy and sell their gold using their eWallet balance.
TNG eWallet e-Mas wants to make it easy to buy and sell gold
The gold investment product is made possible with CIMB Bank as the liquidity provider and is open to Malaysians aged 18 years old and above. The e-Mas feature is available only for TNG eWallet users who have completed the eKYC (electronic know your customer) process.
According to the FAQ, e-Mas is not Shariah-compliant as the gold investment offering is only available in digital format. One of the requirements for Shariah-compliant gold investment is that it needs to be fully allocated physical gold. TNG Digital says it understands the importance of Shariah-compliance and they are working with CIMB to offer Shariah-compliant gold investment options in the future.
Take note that gold investment is not an interest-bearing product as the investment is purely based on the buying and selling of gold based the daily gold prices. Like most investment products, there’s no guarantee for earning returns for gold and it isn’t protected by PIDM.
How to buy and sell gold on Touch ‘n Go eWallet?
To get started with your gold investment, just launch the Touch ‘n Go eWallet app and then go to the investment tab or search for e-Mas. On the e-Mas page, you can tap on “Start Now” after accepting the terms and conditions.
The e-Mas interface is quite straightforward and you can tap on “Buy Gold”, followed by entering the desired amount in either RM or grams. The total amount will be reflected on the bottom of the screen. Once you’ve confirmed the amount, the transaction will deduct the amount from your eWallet balance and the amount of gold will be displayed on the home screen of the e-Mas section.
To sell your gold, just tap on “Sell Gold” on the e-Mas page, select the amount you wish to sell or tap on the preset percentage. Once the transaction is confirmed, the amount will be credited to your eWallet balance.
To keep track of your investment, the e-Mas selection also has a built-in price chart which displays the current price of gold with the price history in weekly and monthly views. According to TNG Digital, there are no extra fees or charges when you buy or sell gold via e-Mas. The gold price offered for each purchase and selling is the prevailing gold price quoted at the time of the placement of purchase and selling.
The FAQ states that the quoted price shall be determined by TNG Digital at its sole and absolute discretion taking into account all factors which include prevailing world and local market conditions for gold, the exchange rate between USD and MYR and the gold fineness.
For more info, you can visit TNG eWallet’s e-Mas page.
