E-wallet review: What is GoPayz? | eWhallet

E-wallet review: What is GoPayz?

Esther Ng

Introduction of GoPayz

  • If you are looking for an optimal way to insure, invest and exchange currencies all within one space, GoPayz is for you. 

  • The latest digital wallet brings innovative finance services that can be utilised in the form of both a virtual and physical card as GoPayz comes with optional Visa, Mastercard, and UnionPay physical card options. 

  • GoPayz was introduced in July 2019 as U Mobile’s latest fintech development. It became highly competitive for its wide range of affordable and inclusive financial services. It is widely accepted as it is supported by an array of local and international retailers.

Unique features of GoPayz: 

  • The GoPayz card enables users to withdraw physical cash from the e-wallet via an ATM Machine that accepts Card Schemes cards, and it only costs RM1. 

  • The GoPayz Basic Wallet has a maximum account balance limit of RM2999, and  the Premium Wallet has a balance limit of RM5000. Users can top-up their account using their credit/debit card or by purchasing credit at any 7-Eleven store.

  • You can transfer funds to a charity of your choice with a few clicks. 

  • GoPayz is the first e-wallet in Malaysia who offered contactless HCE solution, “Tap and Pay” for customers who own NFC-enabled smartphones with the partnership with UnionPay International.

  • GoPayz supports Zakat payments. GoPayz covers Kedah, Perak, Pulau Pinang, Selangor, and Wilayah Persektuan. 

  • All transactions are monitored by the latest fraud detectors as GoPayz is powered by Bank Negera. 

  • It is known to be universally accepted. From online to retail, GoPayz purchases can be done via GoPayz’s Mastercard, UnionPay, Visa virtual and physical cards.

  • GoPayz purchases can be done via the app which eliminates the hassle of waiting in long queues. 

Financial Services of GoPayz

    1- It provides an extensive list of insurance, which are budget-friendly.

  • One of the most prominent features are the micro-products from GoLife Plus for as low as RM13 on a monthly basis, with coverage of up to RM 76,000. This offers Malaysians some protection in the event of unforeseen injuries or death. 

  • It provides a Family Takaful protection plan for RM18 on a monthly basis for a coverage up to RM204,000. 

    2- Remittance & Foreign Currency Exchange

  • You can also do remittance and currency exchange services on GoPayz, allowing you to purchase foreign currency or remit them at any time, anywhere. Thanks to the partnership with MaxMoney. For remittance, it takes 5 minutes to reach your loved ones when you remit money to your home country or you can even opt for pick-up at your preferred outlet. As for currency exchange, you get competitive rates and the option of delivering your foreign currencies to your doorstep, or collect them at any MaxMoney branch. There’s even a Speed Delivery service that delivers within 3 hours!

    3- Investments are easy to make as GoPayz allows you to grow your unit trusts with just RM100 on a monthly basis. 

  • Invest in funds offered by FSMOne, Malaysia’s largest online unit e-commerce marketplace. 

  • Explore the advantages and disadvantages of multiple unit trust funds, and multiply your cash. 

  • It offers a wide set of portfolios to meet your individual goals and needs. 

GoPayz provides lifestyle services 

  • You can transfer funds (peer-to-peer), purchase mobile prepaid top ups, pay for utilities and phone bills.

  • You can also find other services – Hungry (food delivery), Youbeli (online marketplace), CatchThatBus (transport), Tripcarte (attractions & activities), Ticket2U (online ticketing) and more.

GoPayz is rewardful 

  • Earn as you spend with GoPayz. Be rewarded monetarily with GoPointz where you can offset payments and redeem e-vouchers from a wide variety of lifestyle partners.

The only charges that will occur on GoPayz: 

  • A physical GoPayz card causes RM16 upon registration.

  • ATM cash withdrawals are only rm1. However, cash withdrawals overseas will cost RM10. 

  • Card replacement cost RM16. 

  • A physical statement request fee costs RM5. E-statements are free of charge.

  • Each sales draft is RM15.

  • Conversion of overseas transactions will be determined by the card schemes on the day of the conversion and shall be inclusive of 1% foreign exchange conversion charge.

Who can use GoPayz?

  • All Malaysian citizens aged 18 and above are eligible for the app.

  • It is applicable to foreign workers within Malaysia, all they have to do is provide details of their stay in Malaysia to get registered. 

GoPayz has been proven to be a successful multifunctional tool in today’s financially driven and tech-savvy era. Sign up with GoPayz for a better state of living now.