This will allow users to perform contactless transactions across PayNet’s DuitNow QR network of merchants. BigPay will also support DuitNow which offers instant fund transfers to local bank accounts.
DuitNow QR is Malaysia’s national QR code standard which allows merchants to accept payments via online banking and e-wallet providers with a single QR code. This eliminates the need of displaying multiple QR codes at the counter and merchants will need to open only one acquirer account to accept payments from all supported platforms.
At the moment, DuitNow QR has a total of 26 participants which consist mostly of established banks. PayNet aims to add 15 more banks and e-wallet providers over the next six months.
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