Ever since the beginning of the week, Touch 'n Go e-Wallet have been hinting about the launch of an upcoming investment feature called GO+, so much so they've included a countdown timer. This is a feature that allows you to make money with your e-wallet balance instead of letting it sit there when not in use.
GO+ will be officially released on March 29, 2021, but some users already have this feature enabled in their updated app. Screenshots of the new feature have also appeared online and Touch 'n Go has made a comprehensive FAQ about GO+ on the e-wallet application.
When you plan to top-up your wallet, you will be prompted with the advantages of GO+, that is the ability to use your e-Wallet credit line to invest in low-risk money market funds. The indicative rate of return for this investment is 1.35%, but will fluctuate according to market conditions.
Although this seems to be slightly lower than the average fixed deposit rates now, the interest for GO+ is calculated and deposited daily, so there is technically no lock-up period. The best part is it only takes a minimum of RM10! That's right, you can start your investing journey at a lesser price than a cup of Starbucks!
Who will be the one managing your money, you ask? GO+ is based on Principal e-Cash, a money market fund managed by Principal Asset Management in partnership with CIMB Bank which according to them "aims go provide liquidity and income for investors".
The service is only available for verified Malaysian TnG e-wallet account holders of 18 years old and above. We believe it will attract many retail investors and average joes thanks to its ease of investment and low risks. You can seamlessly transfer the money to and from your e-wallet and your GO+ account so there are no worries of insufficient balance for payments. Not only that, you can even withdraw the money straight into your own bank accounts!
Since it has gotten conditional approval from the Securities Commission (SC) of Malaysia to be a recognized market operator (RMO), many people have been looking forward to the launch of GO+. This has allowed e-wallets to distribute capital market products directly to the public without the help of third-party platforms or applications. With the launch of GO+, Touch 'n Go e-wallet and Principal e-Cash have become the pioneer in the e-wallet investment solution space.
So, wait no more and update your Touch 'n Go app right now to unlock this low capital, low risk investment opportunity without any additional capital other than the money you already have in your e-wallet!
