Finance Minister Lim Guan Eng today launched the Cashless Ecosystem for Cyberjaya, a collaboration between Cyberview and PayNet. In a media statement issued to Fintech News Malaysia, Najib Ibrahim, Managing Director of Cyberview shared that Cyberjaya will be the first city to adopt the national payments QR code known as DuitNow QR.
DuitNow QR is part of the Interoperable Credit Transfer Framework ( ICTF ) which mandates that PayNet, as the country’s shared payment infrastructure provider, implement an interoperable and common QR standard for Malaysia.
Peter Schiesser, Group CEO, PayNet revealed that currently, nine banks are already offering DuitNow QR in their mobile banking apps with 23 banks and for major e-wallets expected to implement DuitNow QR in the next 6 months.
The first bank and e-wallet to sign up for DuitNow QR were Public Bank and GrabPay respectively.
Cyberview is confident that with DuitNow QR the number of merchants in Cyberjaya to accept cashless payments will go up. The latest stats from them indicate that over 51% of merchants in Cyberjaya now accept cashless payments
