BigPay has announced its participation in the DuitNow ecosystem operated by Payments Network Malaysia (PayNet).
This means that BigPay users will soon be able to use DuitNow for instant domestic money transfers. In addition, BigPay customers will be able to use DuitNow QR, Malaysia’s national QR code standard, for payments at merchants.
DuitNow QR is Malaysia’s national QR code standard established under Bank Negara Malaysia’s Interoperable Credit Transfer Framework (ICTF) that will work for everyone in Malaysia. In short, merchants will only need to show one interoperable DuitNow QR code and customers will be able to freely choose their preferred mobile payment method.
While the BigPay card allows its users to pay at POS terminals, withdraw money from ATMs, both in Malaysia and abroad, BigPay users will now have the choice to pay directly with their app using DuitNow QR.
BigPay is expected to go live on DuitNow later this year and will be an early adopter of new payment functionality under Phase 2 of DuitNow (DuitNow 2.0) – encompassing request-to-pay, real-time debits and debit consents on-file.
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