TNG eWallet, Arus Oil partner to power Malaysia’s circular economy for a sustainable future

• Users can recycle used cooking oil and get paid directly into their eWallet
• Encourage M’sians to recycle used cooking oil, earn rewards & positively impact the environment

TNG Digital Sdn. Bhd, Malaysia's largest integrated fintech player, has taken a significant step towards sustainability by launching a groundbreaking partnership with Arus Oil (My Protech Sdn Bhd), marking the company's first venture into the circular economy. In a joint statement, the parties stated that this collaboration enables TNG eWallet users to recycle used cooking oil (UCO) and receive payments directly into their eWallets, turning waste into money while contributing to a more sustainable future.

Used cooking oil is often discarded rather than repurposed, leading to environmental pollution and wasted resources. Improper disposal can also result in oil entering the sewerage system, eventually polluting rivers and seas. To combat this, TNG Digital and Arus Oil are encouraging both households and businesses to adopt sustainable and efficient oil recycling practices through Arus Oil via TNG eWallet.

Alan Ni, CEO of TNG Digital, shared, “We are excited to launch our first environmental, social, and governance (ESG) partnership with Arus Oil, aimed at promoting recycling and sustainability. As the country’s leading eWallet, we believe our responsibilities extend beyond providing financial products and services. We are committed to building a comprehensive and sustainable ecosystem through our TNG eWallet platform, enhancing the overall well-being of our users and the environment."

“With this initiative, we encourage Malaysians to recycle their used cooking oil, earn rewards, and make a positive impact on the environment through our platform. This partnership with Arus Oil represents a significant step towards a greener and more sustainable future for all,” he added.

“This initiative not only mitigates risks related to environmental contamination but also supports the creation of renewable energy and the reduction of waste, while providing households and businesses with tangible financial benefits,” Ni said.

Arus Oil, which began its oil collection efforts in 2017, has already collected 1,000 tonnes of UCO through designated collection points. Now, with TNG eWallet as its first eWallet partner, Arus Oil aims to streamline and simplify the recycling process and ensure that proceeds are credited directly to users’ eWallets in real-time.

Syazwan Majid, CEO of My Protech, shared, "At Arus Oil, we are driven by the belief that sustainability is not just an obligation but an opportunity to positively impact our environment and society. This partnership with the No. 1 eWallet in Malaysia aligns with our mission to lead the nation towards a greener future by turning waste into a resource. By facilitating the recycling of UCO through the cashless platform, we are empowering Malaysians to contribute directly to environmental preservation and renewable energy, while earning rewards. Together, we are not just imagining a sustainable future—we are actively building it."

Household UCO can be collected and stored in a glass bottle or jerry can, provided it is kept in a non-flammable location at room temperature. Restaurants handling larger volumes of UCO are advised to use barrels. Users who wish to sell their UCO to Arus Oil via TNG eWallet can follow these simple steps:

1. Tap on the Arus Oil icon within the TNG eWallet.

2. Click on "Create Appointment."

3. Enter the necessary details and upload a photo of the UCO to be collected.

4. Arus Oil will contact the user to arrange a pickup at their convenience, with a minimum pickup quantity of 5 kg.

Money earned from recycling UCO will be credited instantly to users’ TNG eWallets, which can be used for payments and more, adding value to this environmentally friendly action.

Currently operating within the Klang Valley, Arus Oil plans to expand its services to additional locations, including the northern region and East Malaysia. During the campaign period from 9 September to 23 September 2024, the public can also bring UCO to the Arus Oil Collection Facility at 30, Jalan Industri USJ 1/4, Taman Perindustrian USJ, 47600 Subang Jaya, Selangor, recycle it via the TNG eWallet app, and receive a special rate of RM3/kg.