KUALA LUMPUR, Nov 1 (Bernama) — On 1 November 2019, Payments Network Malaysia (PayNet) and Grab, Southeast Asia’s leading everyday app, announced a landmark collaboration that will make GrabPay the first e-Wallet to adopt DuitNow QR, Malaysia’s National QR Standard.
DuitNow QR is established under Bank Negara Malaysia’s Interoperable Credit Transfer Framework (ICTF). ICTF mandates that PayNet, as the country’s shared payment infrastructure provider, implement an interoperable and common QR standard for Malaysia. 4 Banks are already offering DuitNow QR in their mobile banking apps, with 25 Banks expected to implement DuitNow QR over the next 6 months.