Touch ‘n Go eWallet Joins the DuitNow Eco-system
Touch ‘n Go eWallet will adopt the DuitNow QR, Malaysia’s National QR Standard and become a participant in the DuitNow eco-system, operated by Payments Network Malaysia (PayNet).
DuitNow QR will foster an efficient, competitive and innovative payment landscape in Malaysia by enabling interoperability, promoting collaborative competition and providing fair and open access to the shared payment infrastructure. Through DuitNow QR, users can make payments from any participating Banks or eWallets’ mobile apps. Merchants would only need to display one QR Code, the DuitNow QR, to accept payments.
“With DuitNow QR, a merchant needs to sign up with only one bank or eWallet acquirer, and customers of all participating banks and eWallets would be able to make DuitNow QR payments to the merchant using their respective mobile apps,” said Mr Peter Schiesser, Group Chief Executive Officer of PayNet.
DuitNow QR is an extension of the DuitNow service launched in December 2018, which allows Bank customers to transfer money instantly and securely on a 24/7 basis at Banks’ Internet or mobile banking channels. DuitNow fund transfers can be directed using the recipients’ mobile numbers, MyKad or business registration numbers.
Touch ‘n Go eWallet has been an advocate for financial inclusivity by making it easier and more convenient for Malaysians to go cashless. Since its launch in 2018, Touch ‘n Go eWallet, currently has a user base of 9 million with 135,000 merchant acceptance points, actively reaching out to a broad spectrum of merchants ranging from local grassroot merchants all the way to large retail chains.