News & Reviews:   paynet

Malaysians can soon use PayNet’s DuitNow QR to pay for items in Southeast Asian countries and Japan after Japan revealed that they’re making their QR code payment systems compatible with Southeast Asian countries. Expected to be implemented by fiscal 2025, read on to find out more.

This week’s TechNave Business Bytes Week 3 for March 2024 features several stories on security advancements. OutSystems offers a new tool to simplify integrating AI into applications securely. TM launches a telemedicine app to improve access to healthcare, and Maxis partners with Dell to provide advanced cybersecurity solutions for businesses and more.

Today, Curlec by Razorpay announced that it is now a member of the national payments network and infrastructure, Payments Network Malaysia Sdn Bhd (PayNet). For those who don't know, Curlec is a full-stack payment solution provider under Razorpay. 

In regards to the recent news of additional charges for merchants via DuitNow QR, Touch 'n Go (TNG) Digital just announced that those will be waived. That's good news to many users who are reliant on the ewallet platform but it's only for now until further notice.

Things have really been stirring up about the MDR (Merchant Discount Rate) for DuitNow QR Payments. Maybank has joined the MDR “until further notice” group with Public Bank while CIMB will extend the MDR waiver on DuitNow QR Payments until the end of the year. PayNet or Payments Network Malaysia Sdn Bhd have also announced an official statement clarifying more details. 

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.