TrueMoney Malaysia now supports DuitNow QR, making it even easier to pay using the TrueMoney e-wallet

TrueMoney Malaysia now supports DuitNow QR, making it even easier to pay using the TrueMoney e-wallet

KUALA LUMPUR, 16 January 2024TrueMoney, Malaysia’s leading e-wallet and digital payment platform, today 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.

To use TrueMoney’s DuitNow QR feature, users simply need to launch the TrueMoney app, click “Scan” on the homepage, and scan any DuitNow QR Code to pay. 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.

Jessie Chong, Ascend Group’s Country Managing Director shared, “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. 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.”

Starting from 15 January to 29 February, TrueMoney users can not only embrace the convenience of the new DuitNow QR Code acceptance but also immerse themselves in the joy of TrueMoney’s “Huat’s Up” Chinese New Year campaign. As part of this celebration, users can seize the chance to receive TrueAngpao by spending a minimum of RM28 through DuitNow QR merchants, and TrueMoney merchants, as well as for bill payments and mobile top-ups, adding an extra touch of significance to the season.

Adding to the excitement, TrueMoney has also collaborated with Lotus’s, offering customers a rewarding experience. For every RM1 spent, users can earn 8x My Lotus’s Points. Moreover, a delightful RM8 cashback awaits those who make a minimum spend of RM88 using the TrueMoney e-wallet app throughout the Chinese New Year celebration.

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.


Unlocking financial empowerment with TrueMoney and Experian: Take control of your credit health!

Unlocking financial empowerment with TrueMoney and Experian: Take control of your credit health!

KUALA LUMPUR, 12 January 2024 – Striving for good financial health starts with a solid foundation, and to achieve that, having a clear understanding of the nuances of credit reports and scores is essential. Your credit health is a crucial factor influencing various aspects of life, not just a compilation of financial transactions. It reflects your credit history, emphasising the importance of maintaining a positive track record.

Credit scores, ranging from 300 to 850, provide a numerical snapshot of creditworthiness. A favourable credit history can lead to better terms and rates, whether buying a home, securing a credit card, or navigating various financial landscapes. Moreover, many lenders rely on credit scores for quick and standardised evaluation of creditworthiness.

Generally, people assume that credit scores only affect loans and rates, when in fact, credit scores extend beyond immediate financial decisions – they also affect employment opportunities, rental applications, and insurance premiums. 

TrueMoney Malaysia and Experian are committed to empowering individuals to care for their finances and are hence coming together to make credit health management more accessible and affordable than ever. As part of this collaboration, TrueMoney Malaysia Wallet users can enjoy a 20% instant rebate on selected Experian products by obtaining the exclusive promotion code on the TrueMoney Wallet application.

This initiative encourages users to monitor and enhance their credit health regularly. The selected Experian products, such as Personal Credit Report Plus (PCRP), MyBiz, TrackMyID, and JagaMyID, provide practical tools for understanding and safeguarding credit health.

While knowledge forms the foundation, true progress hinges on applying that knowledge strategically. 

Here are four practical steps to improve credit scores:

  1. Pay bills on time: Timely payments positively impact credit scores. Set up reminders or automatic payments to avoid late fees.
  2. Reduce credit card balances: Lowering credit card balances can improve credit utilisation ratios.
  3. Monitor credit regularly: Check credit reports for inaccuracies and signs of identity theft. Address discrepancies promptly for a more accurate credit profile.
  4. Diversify credit accounts: Having a mix of credit types, like credit cards and instalment loans.

Regularly reviewing your credit report ensures the accuracy of your credit information, identifies any unauthorised transactions, and addresses errors promptly. Moreover, it prevents identity theft by catching inaccuracies early, gaining insights into creditworthiness through score tracking, and ultimately, making informed financial decisions to safeguard your financial well-being.

In conclusion, understanding and managing your credit health is non-negotiable in the journey towards financial empowerment. TrueMoney and Experian’s collaboration offers practical tools and incentives for users to take charge of their credit health. By understanding the basics of credit reports and scores and implementing practical steps for improvement, individuals can navigate towards a more stable and secure financial future.


Defending Against Cleaning Service Scams: Your Service Guide to Clean Homes

Defending Against Cleaning Service Scams: Your Service Guide to Clean Homes

KUALA LUMPUR, 1 December 2023 – In today’s bustling world, where time is a precious commodity, many rely on professional cleaning services to keep their homes in good condition. However, with the rise of internet platforms and the convenience they provide, scams involving cleaning services have grown increasingly, putting consumers at risk of losing money, suffering damage to their property, or even compromising their personal safety.

The allure of these cleaning services lies within their advantages – they save time, keep the house clean, and relieve people off the weight of household chores. Victims of cleaning service scams frequently find themselves in a tough situation, questioning the safety and validity of such services.

Here’s how people fall for these cleaning scams – scammers frequently use deceptive strategies, such as building fake websites or social media profiles and posing as legitimate businesses. To attract unwary clients, they may draw in consumers with seemingly irresistible discounts. Some may request upfront payments before services are rendered, often using manipulative tactics to pressure customers into making quick decisions.

The Solution: Clean it Right with Grabmaid & TrueMoney

To ensure a secure platform for users engaging with cleaning service providers, TrueMoney Malaysia has partnered with GrabMaid, a leading provider of professional cleaning services in Malaysia. This collaboration aims to reshape the cleaning service industry by emphasising safety, transparency, and reliability.

With its dedication to secure financial transactions, GrabMaid contributes its experience, while TrueMoney provides a secure platform for reservations. This partnership allows for accessible high-quality cleaning services and establishes a new safety standard in the industry. The platform prioritises the security of both the transactions and the services provided to customers, setting a standard for reliability in the cleaning service business.

GrabMaid provides a myriad of cleaning services, including basic cleaning for general tasks, post-renovation cleaning with stronger tools for dust and stains, and move-in-out cleaning for comprehensive property cleaning during the house-moving process.

Book secure cleaning services with TrueMoney in three simple steps: 

  1. Launch the TrueMoney Wallet and click on the “GrabMaid” icon.
  2. Select your preferred cleaning service, along with the date and time.
  3. Enjoy exclusive discounts by applying these promo codes:
    • TRUECLEAN2U: 8% OFF Basic Cleaning (House Cleaning, Office Cleaning, Spring Cleaning, and Airbnb Cleaning).
    • TRUERENO4U: 10% OFF Post-Reno Cleaning or Move In-Out Cleaning.

The escalating cleaning service scams have emphasised the need for a secure and reliable solution. TrueMoney’s collaboration with GrabMaid tackles this by providing a safe and secure platform for booking professional cleaning services. This partnership redefines the cleaning service business by emphasising safety, transparency, and customer happiness, providing clients with peace of mind and a hassle-free experience.

These exclusive discounts are only available when you access the GrabMaid booking system through the TrueMoney e-wallet app. Each promo code can be used just once per user, so make sure you don’t miss the chance to save on GrabMaid’s excellent cleaning services!


TrueMoney Malaysia’s exclusive partnership with eSport Arena @ UKM

TrueMoney Malaysia's exclusive partnership with eSport Arena @ UKM

KUALA LUMPUR, 6 November 2023 – Navigating finances as a student amid the demands of university life—juggling coursework, extracurriculars, and tight budgets—can be challenging. It’s crucial to find practical solutions for your daily necessities, such as accessing affordable food options and ensuring efficient financial transactions.
In line with this, TrueMoney Malaysia has exclusively partnered with eSports Arena @ UKM as the university is aiming to revamp Bangunan Pusanika, a 40-year-old building at Universiti Kebangsaan Malaysia (UKM), into a 24-hour centre catering to students, staffs, and the public, offering a myriad of conveniences under one roof.
The ambitious redevelopment of Pusanika aims to establish it as a holistic hub for food, grocery shopping, entertainment, and relaxation. This transformative space will comprise various zones, including leisure activities, food kiosks, and a diverse array of tenants such as eMart24, Tealive, 99 Speedmart, Zus Coffee, and more.
The leisure activities section run by the eSports Arena on the other hand, is poised to be a haven for gaming enthusiasts, featuring motion racing simulators, a golf simulator, a PlayStation 5 section, snooker rooms, dart stations, and 50 gaming PCs dedicated to eSports. This multifaceted approach caters to diverse interests, providing an engaging and inclusive environment for everyone.
Through this partnership, TrueMoney Malaysia will be the sole e-wallet payment method accepted for all leisure-related activities and small food kiosks. This collaboration aims to provide students and the public with a seamless digital payment experience through TrueMoney’s innovative financial technology solutions, with an additional benefit of bonus credit for customers using TrueMoney as their preferred payment method.

Beyond the eSports Arena, only Tealive is currently accepting the e-wallet, but the upcoming launch of DuitNow in January 2024 will unlock the potential for TrueMoney users to make payments at other participating merchants within Bangunan Pusanika.

Opening its doors to the public, Bangunan Pusanika extends its offerings beyond UKM, attracting a wider community and boosting TrueMoney’s reach. This inclusivity strengthens the UKM ecosystem and positions TrueMoney as a key contributor to campus vibrancy.


Malaysia’s leading e-wallet TrueMoney now accepted at all 320 BHPetrol and 794 Petron service stations nationwide to promote digitalization

Malaysia's leading e-wallet TrueMoney now accepted at all 320 BHPetrol and 794 Petron service stations nationwide to promote digitalization

  • This expands TrueMoney’s footprint to over 30,000 payment points in Malaysia.
  • BHPetrol and Petron are the latest additions to TrueMoney’s growing network of prominent merchants, which includes Lotus’s, MyNews, CU Mart, and many others. 

KUALA LUMPUR, 3 October 2023 – TrueMoney, Malaysia’s leading e-wallet and digital payment platform, today announced its partnership with two of Malaysia’s premier petroleum companies, BHPetrol and Petron. The addition of these two large mobility retailers allows TrueMoney users to enjoy seamless and effortless payment at all 794 Petron and 320 BHPetrol service stations across Malaysia.

TrueMoney users can now enjoy a hassle-free experience when refueling, making purchases, or accessing essential services at any BHPetrol service or Petron station location. This partnership marks a significant milestone for TrueMoney, along with both Petron and BHPetrol, as it simplifies the payment process of millions of Malaysians who rely on these fuel and service stations every day.

Ir. Azizul Azily Ahmad, Chief Executive Officer of BHPetrol stated, “At BHPetrol, we have always been committed to ensuring our customers have the best experience with us. This partnership with TrueMoney allows our customers, whether they are filling up their tanks or taking care of their vehicular needs, to enjoy a hassle-free, cashless payment experience. Now TrueMoney users can use their e-wallet to make payment as easy and seamless as possible at our stations.”

Furthermore, in addition to the above, TrueMoney customers can now take advantage of cash reload benefits at participating merchants, which include BHPetrol stations, Petron petrol stations, Five petrol stations, Billion Shopping Centre, Hai-O Raya and many more. This expansion extends the company’s network to encompass a total of 7,475 outlets offering the convenience of cash reload.

Facilitating Malaysia’s digitalization through e-wallets

The landscape of digital payments in Malaysia is undergoing a transformation, driven by the remarkable growth of the e-commerce sector. As reported in an article, Malaysia’s e-commerce market witnessed a substantial expansion, surging from US$3 billion in 2019 to a remarkable US$46 billion in 2020. Industry experts have predicted a further leap of US$13 billion by 2025.

This growth contributes to the significant rise of digital payments, including e-wallets. According to research, the number of digital payment users is expected to continue its upward trajectory between 2023 and 2027, with an estimated increase of 3.2 million users, marking a remarkable 19.04 per cent rise. Additionally, this e-wallet revolution is being propelled by the increasing trend of cashless and contactless payments, especially among millennials, Gen X, and Gen Z individuals.

Jessie Chong, Ascend Group’s Country Managing Director, shared, “At TrueMoney, we recognize that as everyday consumers, we’re all seeking greater convenience. Adding Petron and BHPetrol to our network, allows our users to enjoy the ease of having their credit cards and cash right in a mobile app. Our customers already enjoy some of the most appealing perks like cashback rewards and giveaways. They can now enjoy these benefits and more when paying at any one of the over 1,100 stations around the country.

Newly launched in the country in January, the company now has expanded its e-wallet ecosystem to approximately 12,000 merchants and 30,000 payment points spanning retail, gaming, technology and more. TrueMoney aspires to offer unparalleled convenience and accessibility to its customers while expanding its footprint in the financial services sector, strengthening its position as a leading player in the industry.

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TrueMoney Malaysia partners with Lotus’s Malaysia for Lotus’s Members Month to launch the largest promotion and giveaway for the brand

TrueMoney Malaysia partners with Lotus’s Malaysia for Lotus’s Members Month to launch the largest promotion and giveaway for the brand

  • This is the largest promotion organised by TrueMoney Malaysia for Lotus’s Malaysia customers

KUALA LUMPUR, 18 August 2023TrueMoney, one of Southeast Asia’s leading fintech companies, announced today their collaboration with Malaysia’s preferred supermarket chain Lotus’s to supercharge Lotus’s Members Month with one of its largest promos and giveaways in Malaysia. To enjoy the benefits of the promotions, users are required to make transactions using the TrueMoney e-wallet application and conveniently purchase their everyday essential items with a simple scan.

Jessie Chong, Ascend Group’s Country Managing Director, said, “We are thrilled to announce our collaboration with Lotus’s, as we continue to bring exciting promotions to our users and enhance their grocery shopping experience. We anticipate that with this promotion, we can showcase the ease of grocery shopping with our e-wallet while having the chance to have access to amazing promotions, cashback and benefits. We are also excited to offer our customers the opportunity to earn valuable rewards through the True-Merdeka campaign and multiply their My Lotus’s Points during this special promotion.”

In conjunction with Lotus’s Members Month, customers have the opportunity to receive 10 times the usual My Lotus’s Points for every RM1 they spend at Lotus’s when using the TrueMoney e-wallet app on weekends starting this 21st of September. This advantage is not restricted to weekends alone; customers can also get 2 times My Lotus’s Points for every RM1 spent through the e-wallet. These collected points can be changed into preferred vouchers, or coupons, or used to reduce their final bill upon checkout, which is valid for both in-store and online transactions.

Having been established in 2003, TrueMoney has expanded to more than seven Southeast Asian nations, including Malaysia. The company has become a prominent fintech company in the region, offering various advanced financial solutions such as cashless payments, mobile top-ups, and bill payments. With a continuously growing network of over 12,000 merchants and 30,000 payment points spanning retail, gaming, technology, and more, TrueMoney has demonstrated substantial growth in Malaysia since its launch in January. 

Maximising promotions as a new user

With TrueMoney e-wallet promotions at Lotus’s, shopping becomes an adventure full of rewards and surprises. Users get an opportunity to maximise various promotions by planning their shopping spree for maximum points and cashback.

  • For instance, until September 30th, spending RM20 during the weekends will earn new users RM2 cashback from the TrueQuest campaign, a random cashback up to RM66 from the True-Merdeka campaign and a remarkable 10x Lotus’s Points boost.
  • Moreover, if new users plan their shopping from October 15th to 18th, they will get RM2 cashback from TrueQuest, enjoy 50% cashback from the TrueMonthly Campaign, and double their My Lotus’s Points.
  • For those ready for an October shopping spree from the 1st to the 14th, spending RM100 as new customers yields RM2 cashback from TrueQuest, an impressive RM10 cashback from Ten-Tastic Cashback Campaign, and 2x My Lotus’s points.

With these strategies, TrueMoney aims to continue collaborating with Lotus’s in hopes of driving customer engagement, enhancing the shopping experience and boosting sales within the retail industry. These promotions provide customers with added value and incentives to make purchases whether it is by offering discounts, loyalty rewards, cashbacks and promotions.

As of 2023, more than 50 million people across the SEA region have used TrueMoney’s e-wallet app. This expansion will not only benefit the existing TrueMoney users but also attract new customers who are seeking convenient and secure digital financial services. By offering a wide range of financial solutions, TrueMoney Malaysia aims to cater for the diverse needs of individuals, further establishing itself as a leading player in the fintech ecosystem within Malaysia.


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TrueMoney facilitates staff benefits for Charoen Pokphand (C.P.) Group and Lotus’s in Malaysia

TrueMoney facilitates staff benefits for Charoen Pokphand (C.P.) Group and Lotus's in Malaysia

  • This innovative solution offers employees from both companies to enjoy benefits and rewards such as cashback
  • The TrueMoney e-wallet has continued to show strong growth in Malaysia since its launch in January 2023

KUALA LUMPUR, 16 August 2023TrueMoney, one of the prominent e-wallet services in the country, today 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.

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.

Jessie Chong, Ascend Group’s Country Managing Director, said, “We are truly honoured that TrueMoney has been chosen as the official staff benefit arm for esteemed organizations like C.P. Group and Lotus. Through our e-wallet, their staff have access to a wide range of businesses, as well as amazing promotions, cashback and benefits to reward them. 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.” 

Following the facilitation, every staff member at Lotus’s can now enjoy a 10% 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 3x Lotus points for every RM1 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% 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 RM25 per staff member per month.

More than ‘just’ an e-wallet

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.

“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. Through our initiatives, we aim to create a mutually beneficial ecosystem where staff members can enjoy the perks of TrueMoney and savor the advantages of digital payments seamlessly. We extend our sincere gratitude to C.P. Group and Lotus’s for entrusting us with the responsibility of being their staff benefit arm, and we look forward to delivering exceptional value and experiences to their employees and customers alike,” continued Jessie.

By pursuing such strategic partnerships, TrueMoney 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 aims to be the go-to platform for all digital payment needs in Malaysia.


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TrueMoney partners with CRIT Esports Malaysia to power esports in the country

TrueMoney partners with CRIT Esports Malaysia to power esports in the country

  • This is the brand’s first foray into the growing gaming and esports market in Malaysia
  • TrueMoney will be running a TrueGamerz giveaway until 7th September 2023 with RM10,000 worth of prizes up for grabs 

KUALA LUMPUR, 8 June 2023TrueMoney Malaysia and CRIT Esports Malaysia, are partnering to sponsor the first-ever celebrity esports PUBGM (PlayerUnknown’s Battlegrounds Mobile) team called CRIT MVP. This new initiative aims to bridge entertainment and gaming in Malaysia by bringing local gaming influencers and their fans closer.

CRIT MVP will be composed of the following influencers:

  • Muna Shahirah (253K Instagram followers)
  • Kuza (66k Instagram followers)
  • Cikgu Misai (618.7K TikTok followers)
  • Jajazuber (98.9k Instagram followers)
  • Yepz (196.5K TikTok followers)
  • Roxxy (83.8K TikTok followers)

Kein Ai Ng, Head of Marketing and Partnerships, TrueMoney Malaysia, said, “We are excited to partner with CRIT Esports Malaysia as they look to innovate the local esports scene. TrueMoney has always been at the forefront of innovation in financial services and we have become one of the fastest-growing e-wallets in the country. Through this partnership, we look forward to reaching out to the growing gaming community in Malaysia and also supporting its growth.” 

TrueMoney Malaysia’s network of e-wallet payment points has grown from 15,000 to 25,000 in just a month, providing greater convenience to customers.

As part of the collaboration, TrueMoney will be working with CRIT Esports Malaysia to run the TrueGamerz Giveaway from now till 23rd July 2023 and will be giving away RM5,000 worth of prizes including a Sony PlayStation®5 Disc Version and the Sony WH-1000XM5 Headphones.

Changing the face of esports and entertainment in Malaysia

The primary objective of this unique endeavour is to create a dynamic and engaging space that merges the best aspects of esports, pop culture, and marketing. By bridging the gap between gaming enthusiasts and their favourite celebrities, CRIT Esports Malaysia will facilitate unprecedented fan interactions, fostering a sense of community and excitement in the process.

This initiative will provide a unique platform for both gaming and non-gaming entities to tap into a fast-growing audience of gamers. TrueMoney is excited to be an inaugural partner in this revolutionary new phase of esports and entertainment in Malaysia.

TrueMoney, which entered the Malaysian market in January 2023, is committed to expanding its merchant network by partnering with leading brands in various industries. The company aspires to emerge as one of the top e-wallet providers in Malaysia by offering a wide range of secure and convenient payment solutions to its customers in the years to come.


TrueMoney Reaches 15,000 Local Payment Points Just Four Months After Launch

TrueMoney Reaches 15,000 Local Payment Points Just Four Months After Launch

TrueMoney, one of Southeast Asia’s leading fintech companies, announced a major milestone for the e-wallet ecosystem in Malaysia. With over 15,000 payment points in Malaysia from a variety of industries, including retail, F&B, gaming, and cafes, TrueMoney has shown strong growth in both the merchant and consumer side since launching in the market. 

Since its founding in 2003, TrueMoney has expanded its operations to seven countries including Malaysia and established the largest agent network in the region, comprising over 88,000 agents. With this extensive network, users can enjoy seamless domestic and international money transfers as well as a wide range of innovative financial solutions, including cashless payments, mobile top-ups, bill payments, and much more.

Jessie Chong, Ascend Group’s Country Managing Director, said, “We are excited to have a good milestone for the brand with over 15,000 payment points in Malaysia, in short 3 months since launch. This ensures our customers can use the TrueMoney e-wallet at even more merchants, giving them a convenient and safe payment option. We now cover a wide range of different merchant categories from F&B and groceries to general retail and so much more. However, we know that this is still the beginning for the brand, and we remain excited to see TrueMoney become a relevant payment option in Malaysia.”

We aim to become the preferred e-wallet of choice for Malaysians as it marks a significant milestone for the company, with notable names such as Lotus Malaysia, Senheng, Tealive, BilaBila mart, DipNdip, Econsave and Elken among the latest additions to the platform. Leveraging the TrueMoney e-wallet marketing solutions, these merchants can now take part in a range of marketing promotions, including digital vouchers, cashback, and instant discounts.

From now until 31st July 2023, TrueMoney e-wallet users can enjoy up to RM10 cashback when making payments using the e-wallet at participating merchants. Additionally, we are also offering a special RM3 cashback (min. RM15 spend) campaign with Tealive Malaysia nationwide.

“At TrueMoney, we believe that every transaction should reward our users. That is why we are thrilled to announce a year-long lineup of exciting campaigns in 2023, packed with promotions, giveaways, cashback, and other user rewards. We have many exciting plans in the pipeline, all designed to enhance our users’ experience and provide greater value. We can’t wait to share these campaigns with fellow Malaysians and make every transaction more meaningful,” continued Jessie.

As of 2023, TrueMoney’s e-wallet app has been downloaded by over 50 million people in Southeast Asia, demonstrating the company’s dedication to providing a seamless and secure e-wallet payment experience. We aspire to establish more partnerships with well-known merchants, enhancing its mission to empower communities and promote financial inclusion throughout Southeast Asia in the future.


TrueMoney, Southeast Asia’s leading e-wallet provider, enters the Malaysian market with Lotus’s Malaysia

TrueMoney, Southeast Asia’s leading e-wallet provider, enters the Malaysian market with Lotus’s Malaysia

  • TrueMoney can be used at all of Lotus’s locations nationwide, making shopping easier for Malaysians.
  • TrueMoney’s e-wallet offers a wide range of new financial solutions, including cashless payments, mobile top-ups, and bill payments, among others.
  • Over 50 million people around the region use TrueMoney as their preferred e-payment method.

KUALA LUMPUR, 12 January 2023 – TrueMoney, a leading fintech company in Southeast Asia and a subsidiary of Ascend Money, is thrilled to announce that it has launched in Malaysia today. With a focus on providing a seamless payment solution in the digital age, TrueMoney is now the official payment provider for all of Lotus’s locations across the country.

Founded in 2003, TrueMoney operates in six countries and has the largest agent network with over 88,000 agents to seamlessly send money both domestically and internationally, as well as an e-wallet that offers a wide range of new financial solutions, such as cashless payments, mobile top-ups, bill payments, international remittances, and many more.

Dale Kim, Ascend Money’s Managing Director of International Business, said “TrueMoney has been a leader in financial solutions for over 9 years with a mission to provide innovative financial services to all. We see so much opportunity for improving the lives of the people in Southeast Asia by providing accessible and easier access to payment solutions in the region. With the launch of TrueMoney in Malaysia, we now offer our e-wallet solution in 7 markets and are excited to extend our goal of improving the lives of everyone in the region.” 

With TrueMoney’s hassle-free e-wallet and contactless QR Code payments, Lotus’s customers can now make prepaid and game credit top-ups, as well as pay utility (eg. electricity, water) and phone bills in addition to their day-to-day expenses with simplicity. Furthermore, customers will be able to make peer-to-peer transactions through the True Money app and trace every transaction they conduct because every action is recorded in real-time.

Jessie Chong, Ascend Group’s Country Managing Director, said “We, TrueMoney, have now expanded into the Malaysian market, marking the company’s 7th Southeast Asian country of operation. Through our e-wallet, we offer seamless payment and convenience to all users, with a wallet size of RM10,000 and the utmost assurance of safe and secure payment. We aim to leverage our international presence to create a holistic and dynamic approach to creating a payment ecosystem within Southeast Asia that benefits individuals and SMEs; which includes cross-border payments in the pipeline. We might be the new kid on the block, but we bring with us a strong tech infrastructure and pre-existing businesses to connect with users in Malaysia.”

The TrueMoney e-wallet is currently available in Malaysia via both the Apple App store and Google Play store. Users of the TrueMoney e-wallet will also be able to receive instant benefits upon activation, apart from enjoying Lotus’s cashback and points, along with a RM10 TrueQuest reward.

To make its mark in the country, TrueMoney has decided to make everyone’s grocery shopping experience more convenient for Malaysian consumers. By partnering with Lotus’s Malaysia, TrueMoney provides consumers with the convenience they need to effortlessly transact and manage their expenses for their essentials with its app.

Vivian Yap, Executive Director, Customer of Lotus’s Malaysia shared “Given today’s climate, consumers are more technologically sophisticated, they seek seamless, easy, and convenient shopping experiences all the time. As part of Lotus’s ongoing digital transformation, we are delighted to welcome TrueMoney to Malaysia and to our customers. By incorporating TrueMoney into our e-wallet service portfolio, our customers have more cashless options at all of our 65 stores. Not only will customers have an easy cashless option with TrueMoney, but it will also be very rewarding as TrueMoney Malaysia will reward our customers with My Lotus’s loyalty points. My Lotus’s loyalty points can then be used to pay for purchases, giving them further savings on their shopping.”

As of 2022, more than 50 million people across the SEA region have used TrueMoney’s e-wallet app. TrueMoney Malaysia hopes to form more local partnerships with well-known merchants in the future and build up the whole ecosystem of financial services.

About Ascend Group
Harnessing the power of innovative technology, data analytics, and robust platforms, Ascend Group operates through its subsidiaries, which include: Ascend Money (Fintech), Ascend Commerce (e-Commerce) and True IDC (Data Center and Cloud Services for corporations). Founded in Bangkok, Thailand, Ascend Group’s companies have now expanded across the region with local operations in Cambodia, Myanmar, Vietnam, Indonesia, the Philippines, and Malaysia. By collaborating with world-class tech talents, reputable partners, regulators and communities across the region, Ascend Group aims to create better opportunities for all in Southeast Asia today and in the future through digital services and infrastructure.

About TrueMoney
TrueMoney is a regional fintech company in Southeast Asia, under Ascend Money, a joint venture between The Charoen Pokphand Group (CP Group) and Ant Financial (Alibaba), with a mission to enable everyone access to innovative financial services to empower their daily lives. With operations in 7 countries, including Malaysia, TrueMoney 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 our customers send money seamlessly both domestically and overseas, capturing markets such as Cambodia, Myanmar, and the Philippines.

About Lotus’s Malaysia
Lotus’s Stores Malaysia Sdn Bhd (Lotus’s Malaysia) is a member of the Charoen Pokphand Group Co Ltd (C.P. Group) since December 2020. The C.P. Group is a multinational conglomerate, operating across various industries ranging from agricultural, and industrial to service sectors. C.P. Group currently has investments in 21 countries and economies. 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 centres and 65 stores throughout Peninsular Malaysia. Lotus’s also has Malaysia’s most extensive online grocery home shopping network with over 100 delivery trucks and operations in Penang, Johor Bahru, Melaka, Negeri Sembilan and Ipoh.

As a testament to the work that it has been doing in delighting customers every day, Lotus’s was awarded the Best Foreign Retailer and Fair Price Shop Award 2020 by the Ministry of Domestic Trade and Consumer Affairs in November 2021. Lotus’s was also awarded the Caring Employer Award in 2021 by the Ministry of Women, Family and Community Development in conjunction with the International Day of Persons with Disabilities. 

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Business Address : 
True Money Malaysia Sdn. Bhd. 
Unit L4-01, Level 4, Wisma Capital A, No. 19, Lorong Dungun, Off Jalan Dungun, 50490 Kuala Lumpur.

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