Maybank and Public Bank have decided to waive DuitNow QR transaction fees on merchants indefinitely. PayNet has previously said the fee will be imposed on merchants starting 1 October 2023.
The national payment network operator, Payments Network Malaysia yesterday confirmed that a transaction fee will indeed be imposed on merchants whenever they receive a DuitNow QR payment. Technically known as the merchant discount rate , the company said that this is nothing new and it was supposed to be implemented much earlier but was deferred due to the COVID-19 pandemic.
In addition to that, PayNet also pointed out MDR is not a new idea as it has also been implemented for debit and credit card payments. The transaction fee for DuitNow QR transaction will be officiallyMeanwhile, Maybank said that it has not imposed any fees related to DuitNow QR so far and has assured merchants that the policy will remain as it is for the time being. The bank added that it will inform merchants ahead of time if there are any changes to the policy.
Similarly, Public Bank has also decided to waive the DuitNow QR transaction fee until further notice. In fact, the bank has announced this even before PayNet publicly revealed 1 October as the official implementation date. This is with the exception of credit card-based DuitNow QR payment which will still be charged 0.25% of the transaction value. That being said, this type of payment is only available for merchants that signed up for the bank’s Enterprise Plan and even then, it is still up to them to accept such payments.
In addition to Maybank and Public Bank, another major local bank that has also waived the DuitNow QR transaction fees on merchants is CIMB. However,
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Maybank Jadi Bank Ke-3 Umum Pengecualian Caj QR Duitnow Selepas CIMB & Public BankMenurut Maybank pihaknya tiada rancangan untuk mengenakan fi transaksi ke atas vendor yang menggunakan kemudahan itu buat masa ini.
Read more »
After Public Bank, Maybank says it too is waiving DuitNow QR charge indefinitelyKUALA LUMPUR, Sept 28 — Maybank has announced that it has no plans to impose transaction fees rate on vendors accepting payments via the DuitNow QR code platform for the time...
Read more »
No charges imposed on DuitNow QR merchants at present, says MaybankKUALA LUMPUR: Malayan Banking Bhd (Maybank) today informed that the bank has not implemented any fees in relation to Duitnow QR and that this will continue until further notice.
Read more »
Maybank: Tiada caj dikenakan ke atas peniaga DuitNow QR pada masa iniKUALA LUMPUR: Malayan Banking Bhd (Maybank) hari ini memaklumkan bahawa bank itu tidak mengenakan sebarang yuran berkaitan dengan Duitnow QR dan ini a...
Read more »
Terus kecualikan caj guna QR DuitNow, Wee beritahu Paynet; bankPayNet mengesahkan pengguna aplikasi QR DuitNow itu akan dikenakan caj bermula 1 Nov ini.
Read more »
Tiga bank tidak mengenakan sebarang caj berkaitan dengan DuitNow QR.Tiga bank tidak mengenakan sebarang caj berkaitan dengan DuitNow QR.
Read more »