News & Reviews:   paynet

Amidst various reports of increased costs for those using DuitNow QR codes or QR codes to make wireless payments, Payments Network Malaysia Sdn Bhd (Paynet) recently confirmed that all applicable DuitNow QR payments will be charged MDR or the Merchant Discount Rate starting from 1 November 2023.

Earlier today, Payments Network Malaysia Sdn Bhd (PayNet) and Ant Group signed an agreement to provide seamless digital payments for travellers. The two companies want to expand cross-border payments in the region. This agreement will give travellers access to digital payments at over 1.8 million merchants across Malaysia.

Just recently, Alliance Bank made an announcement that the MyDebit Cash Out fee has been revised. Starting from 1 July 2022 onwards, the initial RM0.00 fee will become RM0.50 per cash-out transaction by every MyDebit cardholder.

Shopee, in partnership with Payments Network Malaysia, has officially announced that ShopeePay eWallet will be the first of its kind to join the DuitNow 2.0. With that said, users will have the freedom to transfer their funds seamlessly up to 40 banks as well as 5 other eWallet platforms.