Latest news with #NFC-capable
The Star
5 days ago
- Business
- The Star
Here's how to buy or renew your My50 travel pass via the TNG eWallet app
Those who purchase the My50 travel pass via the TNG eWallet will need to link it to an enhanced NFC-capable TNG card for use. — CHRISTOPHER FAM/The Star Malaysians are now finally able to purchase their My50 travel pass from the comfort of their own home using the Touch 'n Go (TNG) eWallet app. The ability to do so was introduced on July 1, with Transport Minister Anthony Loke stating that the digitalisation effort would reduce the time commuters spend waiting in line at physical Rapid KL counters. For those unaware, the My50 pass is a 30-day pass costing RM50 that grants Malaysian commuters unlimited rides on Rapid KL transport services, including the LRT, MRT, BRT, Monorail, and Rapid Bus. Those who purchase the My50 travel pass via the TNG eWallet will need to link it to an enhanced NFC-capable TNG card for use, while those who prefer using their MyKad can continue to renew the pass at counters as usual. Do note that users will need to perform the electronic Know-Your-Customer (eKYC) verification in the app before being able to get their travel pass. More information on getting that done is available on the TNG eWallet website. How to get your pass Once users are logged in and have completed the eKYC process, they can start by navigating to the "Travel Pass" mini program. Just scroll down on the app's home page and tap on the "More" button. From there, they will be brought to the "All Services" menu, where they can tap on the "Travel Pass" option at the top of the screen. The page will then display the details on My50, along with the ability to link an Enhanced TNG card to the travel pass. Once users are logged in and have completed the eKYC process, they can start by navigating to the 'Travel Pass' mini program. — Screenshots from TNG eWallet app Users looking to purchase the pass can tap on the "Add card" button, which shows up as a plus symbol, and select an Enhanced TNG card that is already linked to the e-wallet account. For those who have not yet added a card, this can be done by selecting the "Add a card" option at the bottom of the page and following the on-screen instructions. Once a card is chosen, users will then be prompted to scan the card by holding it to the back of the device for five seconds. Users can pick from the Enhanced TNG cards they have already added, or link a new one to their TNG eWallet account. After that, they will need to select the activation date for the pass, which means they are not forced to use it immediately and can instead plan based on their intended travel schedule. Finally, the page will then allow users to tap on the "Confirm" button to proceed with payment, prompting them to scan the chosen card again by holding it to the back of the device to complete the transaction and activate the pass. Users who complete the transaction will then be able to check their active My50 pass in the TNG eWallet's "Travel Pass" mini program. Once paid, users can check their My50 pass status in the 'Travel Pass' mini program. It is worth noting that the TNG NFC charms are also compatible with the My50 pass, so commuters who prefer using the charm instead of a physical card have the option to do so.
Arab News
07-02-2025
- Business
- Arab News
Saudi e-commerce sales using Mada cards hit $53bn in 2024
RIYADH: E-commerce sales using Mada cards in Saudi Arabia reached SR197.42 billion ($52.64 billion) in 2024, a year-on-year growth of 25.82 percent, according to data from the Kingdom's central bank. Figures released by the institution showed that in December, sales totaled SR19.37 billion, representing a 42.06 percent increase compared to the same month in the previous year. These figures include payments for online shopping, in-app purchases, and e-wallet transactions, but exclude transactions using credit cards such as Visa and MasterCard. Mada, the Kingdom's national payment card system, supports both debit and prepaid services within its network. The cards utilize near-field communication technology for contactless payments, enabling secure transactions at both physical retailers and online. Mohammed Dhedhi, partner in the consumer and retail practice team at Kearney Middle East and Africa, told Arab News: 'The growing spending power in Saudi Arabia, driven by factors such as dual-income households and higher overall economic strength, is fueling market growth.' He added: 'Additionally, the proliferation of NFC-capable devices has significantly boosted the penetration of digital payment channels like Mada, further supporting the shift toward a more digital economy.' In addition to the surge in sales, the number of e-commerce transactions also experienced a significant rise, increasing by 28.86 percent year-on-year to nearly 1.13 billion transactions in 2024. December saw a 30.47 percent annual increase, reaching 105.73 million transactions. According to Dhedhi: 'Today, local Mada cards account for over 90 percent of cards issued in the country and over 95 percent of the total transactions made. One of the main reasons for Mada's popularity is because of how convenient it is to use.' He added that Mada is widely accepted both in-store and online across Saudi Arabia, providing secure transactions as it is operated by Saudi Payments, a subsidiary of the Saudi Central Bank. The growing adoption of Mada aligns with the government's push toward a cashless society, promoting the transition from cash to digital payments. Dhedhi explained that the COVID-19 pandemic significantly accelerated e-commerce penetration in Saudi Arabia, driving faster digital adoption across various sectors. This growth was further supported by increased investments from both regional and global players looking to expand their operations. He noted that in 2022, opened a Customer Fulfillment Center in Riyadh to improve delivery speed and meet the growing demand from consumers. Saudi Arabia's growing spending power, supported by factors including dual-income households and a robust economy, continues to drive market expansion. At the same time, the widespread adoption of NFC-enabled devices has propelled the use of digital payment solutions like Mada. As a result, the Kingdom is witnessing a rapid shift toward a more digital economy, with seamless and secure transactions becoming an integral part of the evolving e-commerce landscape. The rise in e-commerce activity aligns with Saudi Arabia's goal to make digital transactions account for 80 percent of the retail sector by 2030, with 70 percent conducted online by the same year. According to the International Trade Administration, the Saudi e-commerce market, valued at $5.15 billion in 2023, accounted for 6 percent of the Kingdom's $92.6 billion retail market. Dhedhi said: 'To improve online shopping experiences, Saudi Arabia's Ministry of Commerce has introduced reforms focusing on refunds, delivery options, and payment choices.' He added: 'These changes aim to address consumer concerns such as unclear warranties, limited delivery coverage, slow complaint resolutions, and delayed refunds. Retailers are now required to submit performance reports and conduct consumer awareness campaigns.' According to Dhedhi, Saudi Arabia's e-commerce market growth will be driven primarily by appliances and electronics, which will account for 23 percent of total growth, with a compound annual growth rate of 8 percent from 2024 to 2028. The fashion sector is expected to contribute 18 percent, also growing at 8 percent CAGR, while health and beauty will make up 14 percent, expanding at a much faster 16 percent CAGR. The dominance of electronics and appliances reflects a strong demand for advanced technology and gadgets, particularly among younger, tech-savvy consumers. In addition, the rising popularity of beauty and home care products aligns with an increasing focus on self-care and wellness across the Kingdom. Meanwhile, the food and beverage segment is projected to experience the highest growth rate at 25 percent CAGR, although its overall market size remains smaller compared to other leading categories, according to Dhedhi. 'The rise in food and beverage e-commerce reflects a growing demand for convenience. Quick commerce has been growing rapidly, and while it historically took players much longer to achieve profitability, the current focus on dark stores and improved unit economics is accelerating this process,' Dhedhi said. He also noted that while this shift has accelerated growth in the sector, it has also intensified competition. This dynamic ultimately benefits market players in Saudi Arabia by fostering innovation and enhancing service quality. According to the International Trade Administration, Saudi Arabia's digital economy is expanding rapidly, driven by substantial government investments and widespread adoption of emerging technologies. As of 2023, the Kingdom's Information and Communications Technology sector was the largest and fastest-growing in the Middle East and North Africa region, valued at $40.94 billion and contributing 4.1 percent of gross domestic product, the report stated. The Kingdom ranked second among G20 countries on the UN International Telecommunication Union's ICT Development Index in 2023, highlighting its strong digital infrastructure. Over the past six years, Saudi Arabia has invested $24.8 billion in this area, leading to a 99 percent internet penetration rate and mobile internet speeds of 215 megabits per second, nearly double the global average. These advancements place the Kingdom among the top 10 countries globally for mobile internet speed, according to the ITA. Saudi Arabia was an early adopter of 5G technology, with coverage reaching 77 percent of the country — significantly above the global average — and 94 percent in Riyadh, positioning it among the world's leading cities for 5G accessibility. This high-speed internet expansion is fueling growth in e-commerce, telecommunications, and digital services, the ITA added. The number of e-commerce users is projected to reach 34.5 million by 2025, with penetration rising from 66.7 percent in 2023 to 74.7 percent by 2027, according to the report. Digital payments are also surging, aligning with Vision 2030's goal of a cashless society. Electronic payments in retail transactions surpassed 57 percent in 2021, exceeding the 55 percent target set by the Financial Sector Development Program. This shift is expected to further accelerate e-commerce growth, attracting more investment in digital financial services. Dhedhi said: 'Millennials, who constitute around 50 percent of the population, are key drivers of e-commerce growth due to their digital fluency and tech-savviness.' He added: 'Expats, on the other hand, prioritize the delivery experience more than locals and show a strong preference for international brands or diverse product offerings, contributing to a broader assortment in the offerings.' Dhedhi said quick commerce players are tapping into the demand for fast delivery, affordable subscriptions, and influencer partnerships to target younger consumers. By offering low delivery costs, they are setting new convenience standards. Chinese e-commerce giants including Shein and Temu have successfully attracted Gen Z and millennials with trendy, affordable products, despite occasional compromises in product quality, he said. Urbanization and rising female workforce participation are further fueling the shift to online retail, with families increasingly relying on e-commerce for groceries, fashion, and household items. Dhedhi noted that these demographic shifts are broadening the customer base, diversifying consumer behavior, and fueling the expansion of Saudi Arabia's e-commerce sector, which plays a pivotal role in the Kingdom's economic transformation.
