GrabPay Becomes Malaysia’s First E-Wallet To Adopt DuitNow QR
Grab has announced a partnership with Payments Network Malaysia (PayNet), which will make GrabPay the first e-wallet in Malaysia to adopt DuitNow QR.
What is DuitNow QR?
DuitNow QR is part of the DuitNow service that launched in December 2018, which allows bank customers to pay and receive money instantly through internet or mobile banking channels.
DuitNow QR acts as the common QR standard for Malaysia. It is interoperable, which means that users can make transactions with any bank or e-wallet that supports DuitNow QR.
While four banks in Malaysia currently support DuitNowQR within their own mobile apps, Grab’s partnership with PayNet is the first time an e-wallet is adopting Malaysia’s National QR Standard.
What does this mean for you?
As a merchant, you’ll only need to sign up for one bank or e-wallet, and customers of all participating banks and e-wallets will be able to make DuitNow QR payments – regardless of what mobile apps they are using.
As a consumer, this means no more fumbling through your apps to find the right e-wallet to complete your purchase. If you see a DuitNow QR code, you’ll be able to make the payment with any participating e-wallet.
Malaysians won’t have to wait too long to enjoy this convenience, as DuitNow QR is set to be incorporated into the GrabPay app during the first half of 2020.
Not a fan of GrabPay? Don’t worry – another 15 e-wallet providers and non-banks have also registered for the DuitNow QR service.