GrabPay ties up with PayNet to adopt DuitNow QR

KUALA LUMPUR: Payments Network Malaysia (PayNet) and Grab have announced a landmark collaboration that will make GrabPay the first e-wallet to adopt DuitNow QR, Malaysia’s National QR Standard.

DuitNow QR is established under Bank Negara’s Interoperable Credit Transfer Framework (ICTF), which mandates that PayNet, as the country’s shared payment infrastructure provider, implements an interoperable and common QR standard for Malaysia.

With its admission to the DuitNow QR scheme, Grab will add DuitNow QR support in the Grab app by the first half of 2020.

“We are honoured to be the first e-wallet to adopt DuitNow QR. With this partnership, we are confident that it will propel GrabPay further to provide a seamless and safe payment method for customers and merchants, ” Ooi Huey Tyng (pic), managing director of GrabPay Malaysia, Singapore and the Philippines, said in a statement yesterday.

She said DuitNow QR is interoperable and provides users with a frictionless and rewarding payment method for consumers while providing our merchants with a safe and cost-effective way to collect payments.

“Our strategy has always been focused on being hyperlocal and our partnership with PayNet is yet another example of being customer-centric in our approach in growing Malaysia’s cashless society as it makes it even more affordable and accessible for all Malaysians to do so, ” she said.

DuitNow QR is an extension of the DuitNow service launched in December 2018, which allows bank customers to transfer money instantly and securely on a 24/7 basis. — Bernama

Source: TheStar