According to the press release, DuitNow QR is operated by Payments Network Malaysia Sdn Bhd (PayNet), and is designed to encourage nationwide adoption of cashless payments and the digital economy through the use of an interoperable QR code. Therefore, DuitNow QR will provide consumers with a safe, easy payment method for in-store purchases, and give merchants access to the millions of consumers who have adopted the digital-first lifestyle.
The initiative comes as many Malaysians adopted contactless payments during the pandemic. According to a report by Bank Negara Malaysia, the volume of e-wallet payments have increased by 131% since 2019. Consequently, the national QR code will make it even easier for consumers to shop safely, reducing physical contact and saving shoppers time.
Furthermore, to use the solution, GrabPay users simply launch the Grab app, open the QR scanner, and scan any DuitNow QR code to pay. With Grab’s Merchant Discovery, GrabRewards and Save with Points features, GrabPay users can easily identify GrabPay DuitNow Preferred Merchants, earn points, and save money on every transaction.
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