• Consumers across the country now have DuitNow QR via GrabPay. seamless access to daily needs and retail needs
• The integration of DuitNow QR enables companies to easily benefit from the digital economy.
Petaling Jaya, June 8th, 2021: GrabPay, the in-app wallet of Superapp Grab, recently introduced the “GrabPay DuitNow QR” nationwide.
DuitNow QR is operated by Payments Network Malaysia Sdn Bhd (PayNet) and is Malaysia’s national QR that aims to promote the nationwide adoption of cashless payments and the digital economy through the use of an interoperable QR code. DuitNow QR will provide consumers with a safe and easy way to pay for in-store purchases and give merchants access to the millions of consumers who have adopted the digital lifestyle.
Many Malaysians introduced contactless payments during the pandemic. According to a report by Bank Negara Malaysia, the volume of e-wallet payments has increased 131% since 2019. The national QR code will make safe shopping even easier for consumers, reduce physical contact and save shoppers time.
The number of merchants who accept QR code payments has also increased. The same report by Bank Negara Malaysia found that the number of merchants registering for QR code payment acceptance has increased 165% since 2019, suggesting that businesses are prepared for cashless payments. With this seamless, unified payment option, merchants will see efficiency in their day-to-day operations thanks to the reduction in physical cash management, sales matching and paperwork.
“We see many opportunities at Grab to encourage businesses of all sizes to digitize and accept digital payments. Over the past year we have welcomed a wide variety of retailers to the platform, from small businesses to large national chains to many consumer product brands. We are excited to be a part of the DuitNow Real-time Retail Payments Platform (RPP) ecosystem so that retailers across Malaysia can serve Grab users while consumers find it even easier for them to purchase important items. The implementation of the DuitNow QR code takes into account the recent economic changes and the most important needs of users and retailers. Both groups can process transactions with each other easily, securely and quickly, and buyers have every opportunity to be more economical with their spending, ”said Priyanka Madan, Head of GrabPay, Grab Malaysia
The GrabPay DuitNow QR code is easy to use. GrabPay users simply start the Grab app, open the QR scanner and scan any DuitNow QR code to pay. With Grabs Merchant Discovery, GrabRewards and Save with Points features, GrabPay users can easily identify GrabPay DuitNow Preferred Merchants, collect points and save money on every transaction.
Grab’s continued commitment to safer online and digital transactions
As online and digital payments grow, Grab is committed to making digital payments safer, more convenient, and seamless. Some of the recent efforts to protect our users and their GrabPay wallets include:
• An in-app security center to educate and update users on how we’re protecting their wallets
• Partnerships with globally recognized security systems with award-winning fraud detection to ensure that all GrabPay transactions are secure
• Strong in-house fraud and security team with robust processes and tailor-made algorithms to prevent and detect fraud
• Regular reminders to users to watch out for fraud and not to reveal TAC codes
For more information on GrabPay DuitNow QR please click HERE.
Comments from traders and consumers
Daniel Shia, Sunlight Pharmacy – Due to the pandemic, we had to limit the number of customers in our store. So we were very happy to accept digital payments like GrabPay DuitNow QR. It really makes a huge difference because consumers are finding it easier and faster to pay too!
Lo Kiu Wen – As a frequent Grab user, I’m so happy that GrabPay DuitNow QR makes it even easier for me to use my wallet in any store! The best part is that every time I go to a preferred GrabPay merchant I can collect points or use them to pay for my things.
Grab is the leading superapp platform in Southeast Asia, offering everyday services that are important to consumers. Today the Grab app has been downloaded to millions of mobile devices and gives users access to over nine million drivers, dealers and agents. Grab offers a wide range of on-demand services in the region, including mobility, grocery, package and grocery delivery, mobile payments and financial services in 428 cities in eight countries.
Via DuitNow QR
DuitNow QR is Malaysia’s national QR standard, which was set up by PayNet as part of the BNM’s Interoperable Credit Transfer Framework. With the DuitNow QR, users can make payments from any participating bank or the e-wallets mobile app, and merchants only need to display a QR code – the DuitNow QR – to accept payments. 31 participants are currently offering DuitNow QR, and more can gradually join in. More information is available at www.duitnow.com.my.