• 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 2023 – TrueMoney, 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.