Hong Kong digital wallet provider TNG Wallet has launched Merchant Dollar, a new service allowing merchants to issue designated dollars under their own brands.
Merchant Dollar will allow TNG Wallet users to purchase multiple types of branded Merchant Dollars in advance to be able to make purchases in designated stores without the need for cash, credit cards or coupons. Merchants will also be able to offer consumers special offers to entice them to purchase Merchant Dollars.
To promote the launch of the new offering, TNG has teamed up with Crostini to launch an offering allowing every purchase of Crostini Dollars over HK$100 to gain a 10% bonus per Hong Kong dollar spent.
“TNG Wallet is pleased to have Crostini under our merchant umbrella. With the launch of Merchant Dollar, our merchant partners can enjoy improved business cash flows and wider options in marketing to promote customer loyalty. The advantages of Merchant Dollar opens up a win-win-win business playing field,” TNG Wallet founder and CEO Alex Kong said.
“Nowadays electronic payment is a significant trend within the financial technology field. With increasingly mature e-wallet functions, the introduction of merchant dollar creates a new payment method, which is expected to lead the paperless payment to a brand new stage.”
He said TNG Wallet is in active negotiations to introduce Merchant Dollars from other merchants.