The MCA president says the operational costs borne by banks were minimal.
Ayer Hitam MP Wee Ka Siong said banks had collected higher revenue every year and did not need to collect service fees from DuitNow merchants.
Wee, who is Ayer Hitam MP and MCA president, said the DuitNow QR code system was “simply a display of stickers on the walls or the payment counters” and did not require any maintenance work as required for countertop terminals used to authorise and accept credit card payments.“Therefore, the operational costs borne by the banks are minimal,” he said in an online posting.
As a retail system, it allows the public to pay for purchases from their bank accounts or through an e-wallet system such as Touch ‘n Go, Grab Pay, or Boost by scanning a DuitNow QR code displayed by merchants. Wee, a former federal minister, said the implementation of cashless payment via DuitNow and other e-wallet systems meant that Bank Negara Malaysia as the central bank had less need to print new currency notes and coins.Bank Negara is the major shareholder of Payments Network Malaysia, which set up the DuitNow payment system. Eleven commercial banks are also PayNet shareholders.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
There is much to learn from Japan's 5G and ETC systems, says Dr WeePETALING JAYA: There is much to learn from Japan's 5G and Electronic Toll Collection (ETC) systems, says Datuk Seri Dr Wee Ka Siong.
Leggi di più »
Sarawak Plans to Give Free Tertiary Education for Sarawakians in State-Owned Institutions by 2026The Sarawak State Government is confident that it can offer free tertiary education at state-owned institutions of higher learning to Sarawakians by 2026. As reported by Malay Mail, Sarawak Premier Tan Sri Abang Johari said that he has asked state Education, Innovation and Talent Development Minister Datuk Roland Sagah Wee Inn and his deputy Datuk […]
Leggi di più »
Hong Leong banks will continue to waive transaction fees for DuitNow QRKUALA LUMPUR: Hong Leong Bank and Hong Leong Islamic Bank (HLB) will continue to waive transaction fees and charges for all merchants accepting paymen...
Leggi di più »
Hong Leong banks will continue to waive transaction fees for DuitNow QR paymentsKUALA LUMPUR, Sept 30 ― Hong Leong Bank and Hong Leong Islamic Bank (HLB) will continue to waive transaction fees and charges for all merchants accepting payments via DuitNow...
Leggi di più »
US commission orders three major US banks to pay over US$50m for swap reporting failuresWASHINGTON, Sept 30 — The US Commodity Futures Trading Commission on Friday ordered Goldman Sachs, Bank of America and JPMorgan to pay a total of over US$50 million (RM235...
Leggi di più »