The company is contending for a share of the yet to be exploited digital payment market
Hong Kong-based digital wallet operator, TNG Fintech Group has partnered with convenience-store chain 7-Eleven to run a mixture of all-hours services including online payment, real-time withdrawal and topping up across Hong Kong.
With claims to have more than 600,000 users in the territory and over 180,000 cash pick-up points across 13 countries, the digital wallet company, has set its sights on easing access to finance for the unbanked and under-banked population that is said to account for half of the world’s people.
Alex Kong, founder and chief executive of TNG said, “The name ‘TNG’ stands for ‘the next generation’. We operate more like a traditional bank, offering an alternative option for people like me who had great difficulty opening up a bank account when I arrived in Hong Kong 10 years ago.”
With eyes on expanding its business footprint to 100 countries and regions by year-end, the company is beefing up its network of partners and is poised to close a funding round with a targeted valuation of US$500 million and is targeting a listing in either Hong Kong or New York in the coming three years. Source: The Nation PWKD07092017
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