TrueMoney, a Thailand-based e-wallet services provider, has officially facilitated with Thailand’s Charoen Pokphand (C.P.) Group and supermarket chain, Lotus’s, to empower staff benefits in Malaysia.

Starting from May, Lotus’s staff can enjoy the convenience of facilitated offers and benefits from TrueMoney, while C.P. Group staff will receive these benefits beginning in August, TrueMoney said in a statement on Wednesday.

According to the statement, TrueMoney Malaysia aspires to establish more staff benefit arm partnerships with prominent corporations in the coming years.

In these potential collaborations, corporations will have the opportunity to extend exclusive staff discounts for purchases made at Lotus’s stores or any of the existing TrueMoney e-wallet merchants.

Moreover, TrueMoney plans to introduce curated marketing campaigns, including staff referral programs, exciting lucky draws, engaging roadshows, and other innovative initiatives.

“Through our e-wallet, C.P. Group and Lotus staffs will have access to a wide range of businesses, as well as amazing promotions, cashback and benefits to reward them,” said Jessie Chong, Ascend Group’s Country Managing Director.

According to her, this is an innovative and practical way to extend employee benefits that is both easy and encourages adoption.

“We hope that through this facilitation, staff can enjoy a seamless and secure cashless payment journey with the TrueMoney e-wallet whenever they spend at Lotus’s or any of our participating merchants,” she added.

TrueMoney is a regional fintech company in Southeast Asia, under Ascend Money, a joint venture between The Charoen Pokphand Group (C.P. Group) and Ant Financial (Alibaba),

Having launched in Malaysia in early 2023, TrueMoney Malaysia has experienced substantial growth, boasting around 12,000 merchants and over 30,000 payment points that encompass retail, gaming, technology, restaurants, and more.

Operating in six other countries, the TrueMoney e-wallet has impressively surpassed 50 million downloads of its e-wallet app, catering to a vast user base across Southeast Asia.

TrueMoney also has the largest agent network with over 88,000 agents, helping its customers send money seamlessly both domestically and overseas, capturing markets such
as Cambodia, Myanmar, and the Philippines.

Following the facilitation, every staff member at Lotus’s can now enjoy a 10 percent cashback in TrueMoney e-wallet credits when making purchases at Lotus’s stores using the e-wallet app.

The cashback applies to all transactions without any minimum spend requirement, with a cap of RM50 per staff member per month.

Additionally, Lotus’s staff will earn 3 times Lotus points for every MYR 1 ($0.22) spent, as opposed to the standard 2x Lotus points earned by regular customers.

C.P. Group employees will also now have the opportunity to receive a 5 percent cashback on their purchases at Lotus’s stores when utilizing the TrueMoney e-wallet app, without any minimum spending requirement, but with a maximum cap of MYR 25 ($5.39) per staff member per month.

“On top of cashback and Lotus’s member points, we frequently organize curated lucky draws and engaging marketing campaigns to offer employees a chance to win exciting prizes,” said Chong.

Through the firm’s initiatives, she said the firm aims to create a mutually beneficial ecosystem where staff members can enjoy the perks of TrueMoney and savor the advantages of digital payments seamlessly.

“We look forward to delivering exceptional value and experiences to their employees and customers alike,” she added.

By pursuing such strategic partnerships, TrueMoney said it strives to foster a comprehensive ecosystem of digital payment services, providing enhanced benefits and convenience for both corporate employees and the wider Malaysians.

With its wide range of services and offerings, the brand said it aims to be the go-to platform for all digital payment needs in Malaysia.

The C.P. Group was founded in the early 1920s as a conglomerate focused on agri business-production and processing and service-telecommunications, logistics and

The C.P. Group currently has investments in 21 countries and economies.

In 1974, the C.P. Group was incorporated in Malaysia primarily in the poultry integration Industry.

The C.P. Group Malaysia consists of two groups with different types of businesses which are the agro-industry and foods business group and the aquaculture business group.

Lotus’s Stores Malaysia Sdn Bhd (Lotus’s Malaysia) is a member of the C.P. Group since December 2020.

Having acquired Tesco Malaysia’s business in December 2020, Lotus’s Malaysia has assumed the operations of all existing Tesco stores, employing 9,000 employees across one head office, two distribution centers and 65 stores throughout Peninsular Malaysia.

Lotus’s also has an extensive online grocery home shopping network with over 100 delivery trucks and operations in Penang, Johor Bahru, Melaka, Negeri Sembilan and Ipoh in Malaysia.

Thailand e-wallet provider TrueMoney enters Malaysia