With DuitNow, customers can send money instantly on a 24/7 basis to DuitNow IDs such as mobile numbers, MyKad or business registration numbers just by accessing the “Funds Transfer” menu from their respective banks’ internet or mobile banking channels. Sending money up to RM5,000 is free for consumers and SMEs.
To receive money, bank customers need only perform a one-time registration for DuitNow by linking their mobile numbers, MyKad or MyPR numbers, passport numbers, or business registration numbers with their bank accounts.
Bank customers can participate in the contest by registering for DuitNow at their bank and every DuitNow funds transfer to a unique mobile number or DuitNow ID each day counts as one contest entry. Customers who previously registered or were pre-registered for DuitNow are already eligible for the contest and can proceed to earn contest entries by sending money.
“DuitNow is the result of a multi-year collaborative effort by Payments Network Malaysia (PayNet) and Malaysian banks to modernise Malaysia’s retail payments infrastructure and introduce innovative new services. DuitNow delivers a quantum leap in e-Payments value proposition by making payments fast, frictionless, and accessible for all Malaysians,” said Mr Peter Schiesser, the Group Chief Executive Office of PayNet.
With the launch of DuitNow, banks will begin migrating Instant Transfer (e-IBFT), which is running on decades-old technology, to the DuitNow platform and migration is expected to be completed by June 2019. Compared to Instant Transfer, the new DuitNow platform has the flexibility to support new future functionality such as QR payments, request-to-pay transactions, instant debits as well as extended messaging payloads for businesses.
“We are excited to initiate the DuitNow Launch Campaign which we hope will encourage more Malaysians to discover the unparalleled convenience of sending money and making payments with DuitNow. We have lined up amazing prizes for winners of the campaign. Winning one of our prizes will truly be a life-changing experience,” said Mr Schiesser.
The grand prize winner will have the privilege of selecting a property worth up to RM 1 mil from the portfolio of IJM Land, Sime Darby Property or S P Setia. “We wanted to allow the grand prize winner the flexibility to choose a property at a location of his or her choice,” added Mr Schiesser.
or your preferred bank for more information. About Payments Network Malaysia Sdn Bhd (PayNet)
PayNet is Malaysia's premier payments network and central infrastructure for financial markets. We innovate, build and operate world-class payment systems and financial market infrastructures that safely, reliably and efficiently enable the functioning and development of Malaysia's financial system as well as the economy as a whole. Bank Negara Malaysia (BNM) is PayNet's single largest shareholder, with eleven Malaysian's banks as joint shareholders.SOURCE: Payments Network Malaysia Sdn Bhd (PayNet)
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