ASEAN’s leading e-payment provider, TrueMoney, announced today new and improved features for its TrueMoney Wallet application, designed to serve all of the financial needs for people in Thailand and in the ASEAN region, according to a company statement. Apart from the current services of bill payment, mobile top-up, money transfer, and online and offline payments, in the future, users will be able to transfer money to friends and family abroad, buy plane tickets and book hotel rooms, order and pay for food, borrow money and make investments in mutual funds, among other financial activities via TrueMoney Wallet. The app will also include credit rating and advance fraud prevention features.
Moreover, via its partnership with Apple and ANT Financial Services Group, TrueMoney consumers in Thailand are now able to pay for purchases in the App Store, Apple Music, and iTunes directly from their TrueMoney account. TrueMoney customers with a new or existing Apple ID can select “TrueMoney” as a payment method in their account settings from their iPhone, iPad, iPod touch, and Mac, or on iTunes from their PC. The new payment option will be configured automatically and immediately allows for one-tap purchasing from their Apple devices, including the iPhone, iPad, Apple Watch, and Apple TV.
The newly-improved TrueMoney Wallet app was unveiled by Ascend Group CEO Punnamas Vichitkulwongsa, who envisions TrueMoney Wallet becoming a Super App that crosses through all areas of life for users in Thailand and in the ASEAN region. TrueMoney Wallet is now live on Google Play Store and iTunes.
“We call this the emergence of the Super App because the services available through the updated TrueMoney Wallet and those which are planned for future phases will complement each other. What will end up happening is that this app will serve all the financial needs of our lives,” said Mr. Punnamas. “FinTech is no longer enough and we took a further step to introduce ‘FinLife’ or ‘Financial Lifestyle’ because TrueMoney Wallet really does have the potential to meet all of an individual’s needs, all the way from day-to-day financial needs to bigger and more substantial things.”
TrueMoney Wallet also includes partnerships with 7-Eleven, True Coffee, and many other leading retailers and food chains which will be unveiled later this year.
Apart from services in Thailand, TrueMoney has also expanded regionally and now has operations in 5 other Southeast Asian countries. These include Myanmar, Indonesia, Cambodia, the Philippines, and Vietnam. Given the need for financial inclusion and consumers’ readiness for digital service in the ASEAN region, the opportunity for growth is significant.
With its regional focus on the unbanked, underbanked, and underserved population, TrueMoney has created a network of over 50,000 agents throughout the 6 countries. Here in Thailand, TrueMoney is focused on digital Thai consumers who are ready for ‘FinLife’ of having financial services available anytime, anywhere through TrueMoney Wallet.
“TrueMoney Wallet is made by Thai people for Thai people and for everyone in the ASEAN region. Every day we are seeking to break the old barriers to financial stability and build economic growth and generate wealth for millions of people,” said Mr. Punnamas. “But it has to start by the adoption of digital financial innovations – and the first step is downloading TrueMoney Wallet.”
TrueMoney will continue to innovate and add new services in the future to increase convenience for consumers across ASEAN.