DuitNow QR Payments: Micro And Small Businesses Will Continue To Enjoy Zero-Cost Transactions; No New Costs For Individual Customers

Major banks and non-bank financial service providers will waive transaction fees for micro and small businesses accepting DuitNow QR payments.
(Credit: Malay Mail)

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Bank Negara Malaysia (BNM) would like to address concerns over the imposition of a transaction fee (1) by some acquirers (2) on businesses that accept DuitNow QR payments from 1 October 2023, following the end of a temporary fee waiver introduced in 2019.

The transaction fee is intended to cover costs and investments needed by the industry to upkeep their payment systems, including cybersecurity and fraud prevention controls, in order to maintain the high service and security standards for payment services.

DuitNow QR remains an affordable and cost-effective payment method. For individual customers, the usage of DuitNow QR to make payments will not attract any additional charges. For businesses, any transaction fee imposed on QR payments remains as low as, or lower than, fees imposed on payments using debit cards. Businesses using DuitNow QR as a payment method also do not need to incur recurring costs for POS terminal rental for card-based payment channels or additional overhead and administrative costs for handling cash payments.

The industry will take measures to minimise the potential impact of transaction fees on small businesses.

  • Major banks and selected non-bank financial service providers, who
    manage 75% of businesses currently accepting DuitNow QR payments,
    have announced that they will continue to waive the transaction fee for
    micro and small businesses accepting DuitNow QR payments.
  • In addition, PayNet3 will allocate resources to help defray the costs incurred by acquirers that continue to offer full waivers to micro and small businesses accepting DuitNow QR payments.

Together, these measures will enable micro and small businesses to continue to enjoy DuitNow QR payment services at zero cost, while ensuring that QR payment services remain efficient, reliable, and safe for all consumers.

BNM remains fully committed to supporting the widespread adoption of digital payments in Malaysia through a vibrant, secure, and inclusive payment ecosystem that is also sustainable over the long term.


1 The transaction fee applicable for business merchants is known as the Merchant Discount Rate (MDR), which is a common fee associated with the provision of electronic payment services. It is charged based on a percentage of the payment transaction value to cover processing costs. A business merchant would receive the payment made by their customers after deducting the MDR. Currently, debit and credit card payments also incur MDRs.

2 Acquirers are banks or non-bank financial service providers that provide merchant acquiring services that enable businesses, including micro and small businesses, to accept electronic payments for the sale of goods and services to their customers.

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