DuitNow QR Programme by Payments Network Malaysia Sdn Bhd (PayNet) in collaboration with TNG Digital (TNGD)

KUALA LUMPUR, Nov 1 (Bernama) -- As part of its ongoing commitment to build an inclusive, accessible, and efficient payments and financial eco-systems for Malaysia, Payments Network Malaysia Sdn Bhd (PayNet) in collaboration with TNG Digital (TNGD) has expanded the interoperable national QR standard to Langkawi through its DuitNow QR Programme.
 
From 25 October till 12 December 2021, the DuitNow QR Programme will provide cash incentive to the first 2,000 merchants in Langkawi who successfully register for the Touch ‘n Go eWallet DuitNow QR to enable them to access seamless payment collection for their operations.
 
The programme aims to support businesses impacted by the Covid-19 pandemic, particularly in the tourism sector. To support the government’s travel bubble initiative, the DuitNow QR Programme will focus on merchants in Langkawi with hopes to kick start their business through the acceptance and acceleration of digital payment instruments.
 
Khairuan Abdul Rahman, Director of Retail Payment Services of PayNet said “As the national payments operator, PayNet is fully committed to support our country’s shift towards a cashless future in an inclusive manner. DuitNow QR offers interoperability and standardised QR payments, so that customers can make QR payments via any of the 32 banks and eWallets at over 900,000 touch points across the country. Our collaboration with TNG Digital will enable merchants to join our fast-growing ecosystem which will hopefully accelerate their recovery from the pandemic and revive the economy in Langkawi.”
 
Meanwhile, Ignatius Ong, Chief Executive Officer of TNG Digital said, “The pandemic has accelerated the adoption and usage of digital payments as consumers’ daily habits, consumption patterns and ways of thinking have changed. This collaboration with PayNet allows us to extend this seamless, fast, convenient, and safe platform with DuitNow QR for both merchants and consumers in Langkawi. We hope this endeavour will help revitalise the merchants as well as the economy on the island.”
 
An integrated, comprehensive solution for business, TNGD simplifies the merchant onboarding process with its merchant dashboard within the Touch ‘n Go eWallet app. Dedicated to managing and tracking sales transactions, the merchant dashboard provides merchants with the convenience and tools to manage their business at their fingertips. The benefit for merchants is that they would only need to maintain one acquirer account to accept QR transactions. This simplifies their operations especially for small businesses as they would only need to refer to one statement to view all QR-code transactions.
 
With nearly 90,000 visitors recorded since the Langkawi travel bubble commenced as of mid-October, the expansion of DuitNow QR to Langkawi is expected to benefit merchants as tourist arrivals increases. Apart from addressing hygiene concerns in handling cash, merchants no longer need to display multiple QR codes at payment counters. Customers can scan with their bank mobile app or eWallet of choice to pay via a single DuitNow QR code.
 
For more information and updates, visit www.touchngo.com.my and log on to https://www.facebook.com/touchngoewallet/. The Touch ‘n Go eWallet is available for download on the Apple App Store and Google Play Store respectively.

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.
 
About DuitNow QR
DuitNow QR is Malaysia’s National QR Standard established by PayNet under Bank Negara Malaysia’s Interoperable Credit Transfer Framework which allows interoperability between all participating Banks and eWallets. For more information, please visit www.paynet.my
 
About TNG Digital Sdn Bhd
TNG Digital Sdn Bhd (“TNGD”) founded by Touch ‘n Go Sdn Bhd and Ant Group (“Ant”), parent company of Alipay, China’s largest digital payments platform. Established in 2017, TNGD is the owner and operator of Touch ‘n Go eWallet, Malaysia’s number one eWallet company, with over 16 million registered users. Combining Touch ‘n Go’s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant’s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, the Touch ‘n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. For more information, please visit www.touchngo.com.my    

Source: Payments Network Malaysia Sdn Bhd (PayNet)

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Ms Amy Pang
Tel: +603 2264 8689
Email: amy@paynet.my 

Name: Adeline Ong
Tel: +6013 397 4471
Email: adeline@touchngo.com.my

--BERNAMA