TrueMoney, a Malaysia-based e-wallet and digital payment platform under Ascend Money, a joint venture between The Charoen Pokphand Group (C.P. Group) and Ant Financial (Alibaba), has on Tuesday announced its enablement to pay with DuitNow QR.

With this new acceptance, TrueMoney e-wallet users can now use the application to make transactions seamlessly anywhere, from small stalls to retail shops that support the national QR standard, TrueMoney said in a statement.

As of 2024, TrueMoney Malaysia has established a robust network of 22,000 merchants and 35,000 payment points nationwide.

This remarkable growth, amplified by the acceptance of DuitNow, further solidifies its position as a key player in the fintech industry, witnessing significant growth since its launch in January 2023.

“DuitNow acceptance marks a pivotal moment for TrueMoney. Nearly 1.9 million people use the DuitNow QR platform, highlighting the growing preference for contactless payments,” said Jessie Chong, Ascend Group’s Country Managing Director.

“By strategically embracing one of Malaysia’s most popular QR payment networks, we empower millions of users with unmatched convenience and choice,

“In a crowded fintech landscape, supporting DuitNow QR positions TrueMoney as a comprehensive all-in-one payment solution,” she added.

Looking ahead to 2024, TrueMoney is set to launch online payment and international remittance services, further solidifying its commitment to providing financial flexibility both locally and globally.

These upcoming features underscore TrueMoney’s dedication to staying at the forefront of fintech innovation, ensuring that users can experience the future of digital finance today.

TrueMoney is a regional fintech company in Southeast Asia, with operations in seven countries, including Malaysia.

The firm has gained regional recognition as a wallet to use because of its wide array of services including payments, mobile top-ups, game top-ups, peer-to-peer transfers and so much more.

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.

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