Recently, Bank Negara Malaysia (BNM) announced that micro and small businesses will continue to benefit from DuitNow QR payment fee waivers.
Since then, Touch ‘n Go (TnG) has also announced that it will continue to waive transaction fees and charges for all merchants accepting payments via the DuitNow QR payment service until further notice.
In a statement made today, TNG Digital Sdn Bhd (TNGD) said that a reasonable merchant fee is to for the industry to cover upkeep costs for payment systems. This includes support services for cybersecurity and fraud prevention in the long run.
However, it confirms that no additional fees will be implemented for its merchants for the time being.
TNGD chief executive officer Alan Ni said that this move aligns with their company’s role as the leading digital wallet provider in Malaysia. He added that TNGD always strives to ensure that their payment services are accessible to small and medium-sized businesses.
Payments Network Malaysia Sdn Bhd (PayNet), which operates DuitNow QR, has also made a statement to clarify that no fee will be imposed for using the payment transfer service.