Bank Negara: PayNet to cover costs so banks can continue waiving DuitNow QR charge for small businesses

KUALA LUMPUR, Sept 29 — Bank Negara Malaysia (BNM) has today announced that major banks and some financial service providers — which handle 75 per cent of businesses that...

KUALA LUMPUR, Sept 29 — Bank Negara Malaysia has today announced that major banks and some financial service providers — which handle 75 per cent of businesses that accept DuitNow QR payments — will continue to waive the fee for the service.

“BNM remains fully committed to supporting the widespread adoption of digital payments in Malaysia through a vibrant, secure, and inclusive payment ecosystem that is also sustainable over the long term,” it said in a statement here. “DuitNow QR remains an affordable and cost-effective payment method. For individual customers, the usage of DuitNow QR to make payments will not attract any additional charges,” it said.

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