Slowly but surely, global wallet services are becoming the new norm. In the traditional financial sector, that is much easier said than done, though. It is rather interesting to see how many companies are trying to offer Bitcoin-like traits through their global wallet service. Hong Kong-based TNG Wallet is no different in that regard.
TNG Wallet Integrates Four New Features
One of the primary selling points for TNG Wallet is their upcoming list of new features. A total of four new features will be launched in the upcoming wallet release. Interestingly enough, all of these features are available in Bitcoin today in some capacity already. It looks like the engineers are taking a page out of the cryptocurrency playbook.
The first new feature allows for real-time global money transfers. Bitcoin users have been able to use such a service for over seven years now, as cryptocurrency is a global initiative. TNG wants to allow users to transfer funds in real-time from the app to over 800 banks in 12 countries. Calling this effort “global” seems to be a bit of a stretch, as 12 countries is only a small market.
Global bill payments are another feature TNG is working on. Although this is not natively available to Bitcoin users just yet, companies such as BitBill and Bitwala offer a solution to that problem. Additionally, companies around the world – primarily in Germany and Japan – are starting to accept cryptocurrency payments for monthly bills directly.
Topping up mobile airtime has been possible with Bitcoin for quite some time now. Although this option is limited to a few Bitcoin wallet providers right now, there is a growing demand for these services in India and other developing regions. It is convenient to use instant real-time payments for such a service, and Bitcoin fits that bill perfectly. TNG will offer a similar functionality, which will be available across 64 operators in 10 countries.
One big difference between the Bitcoin ecosystem and TNG wallet is the focus on foreign exchange. Although exchanging cryptocurrency to foreign currency is certainly possible, it will require a combination of different exchanges to do so. TNG , on the other hand, supports 16 foreign currencies at favorable exchange rates.
There are obvious similarities between the Bitcoin ecosystem and what TNG Wallet is trying to achieve. It would make more sense for the Hong Kong-based company to integrate cryptocurrency at some point in the future. For now, it seems unlikely this will be the case anytime soon, though.