KUALA LUMPUR, February 4 – AirAsia’s BigPay will soon launch its DuitNow QR payment support very soon in the second quarter of 2021.
This would allow users to conduct contactless transactions on PayNet’s DuitNow QR merchant network. BigPay will also support DuitNow which offers instant money transfers to local bank accounts.
DuitNow QR is Malaysia’s national QR code standard that allows merchants to accept payments through online banking and e-wallet providers with a single QR code.
This eliminates the need to display multiple QR codes at the counter, and merchants will only need to open a single acquirer account to accept payments from all supported platforms.
At present, DuitNow QR has a total of 26 participants, mostly established banks.
PayNet aims to add 15 additional banks and e-wallet providers over the next six months.
At the time of writing, ShopeePay is the only supported eWallet platform and other providers such as Boost, GrabPay and Touch ‘n Go eWallet are still not available.
BigPay Co-Founder Salim Dhanani said: “BigPay is committed to providing transparent, secure and convenient banking services to over 1.3 million users in Malaysia and Singapore, with expansion planned in the next few months. ASEAN countries.
“We are delighted to confirm that DuitNow QR payment is on track as part of our pipeline of new products and innovations that will be rolled out in the near future, enabling users to pay at a wide range of merchants across Malaysia.
“BigPay, with the ambition to be the region’s challenger bank, offers a range of new features planned for 2021, including cash top-ups at local convenience stores, insurance, digital loans and wealth management. “
Meanwhile, AirAsia Digital President Aireen Omar said, “We are delighted that BigPay is launching the DuitNow QR product with PayNet.
“The national payment system not only allows BigPay users to go cashless in several ways, but also encourages merchants to use cashless, like those of airasia Food, Shop and Fresh, a mainstay of the digital economy. from Malaysia.
“We will see BigPay increasingly providing financial services to our consumer and business base within airasia Digital and we are excited about the launch of DuitNow QR. “
Currently, BigPay users can pay with their prepaid Mastercard which is supported by most payment card terminals around the world. Support for DuitNow QR will increase acceptance of BigPay, especially when dealing with small businesses that do not accept card payments.
In addition, DuitNow will also allow BigPay users to seamlessly transfer funds to local bank accounts with just a registered mobile number or IC number.
In addition to payments, BigPay received Community credit license which will allow them to offer instant loans to individuals and small businesses at lower rates very soon.