GrabPay, the in-app wallet of super app Grab, recently rolled out the “GrabPay DuitNow QR” across Malaysia.
Operated by Payments Network Malaysia Sdn Bhd (PayNet), DuitNow QR is Malaysia’s National QR designed to encourage 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, easy payment method for in-store purchases, and give merchants access to the millions of consumers who have adopted the digital-first lifestyle.
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Many Malaysians adopted contactless payments during the pandemic. According to a report by Bank Negara Malaysia, the volume of e-wallet payments have increased by 131 per cent since 2019. The national QR code will make it even easier for consumers to shop safely, reducing physical contact and saving shoppers’ time.
The number of merchants accepting 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 risen by 165 per cent since 2019, indicating that businesses are prepared for cashless payments. With this seamless unified payment option, merchants will see efficiencies in their day-to-day operations thanks to the reduction in managing physical cash, sales reconciliation and paperwork.
“We see many opportunities at Grab to encourage businesses of all sizes to digitalise and embrace digital payments. In the past year, we have welcomed a wide variety of merchants to the platform, from small businesses to large nationwide chains and many consumer goods brands. We are pleased to be a participant of DuitNow Real-time Retail Payments Platform (RPP) ecosystem to enable retailers throughout Malaysia to serve Grab users, while consumers themselves will find it even easier to purchase essential items. The implementation of the DuitNow QR code is timely considering recent economic shifts and the most critical needs of users and merchants. Both groups can easily, safely and quickly transact with each other, and shoppers have every opportunity to be more economical with their spending,” said Priyanka Madan, Head of GrabPay, Grab Malaysia.
The GrabPay DuitNow QR code is simple to use. GrabPay users simply launch the Grab app, open the QR scanner and scan any DuitNow QR code to pay. With Grab’s Merchant Discovery, GrabRewards and Save with Points features, GrabPay users can easily identify GrabPay DuitNow Preferred Merchants, earn points and save money on every transaction.
Grab’s ongoing commitment to safer online and digital transactions
In line with the growth of online and digital payments, Grab is advocating for safer, more convenient and seamless digital payments. Some of the recent efforts introduced to protect our users and their GrabPay wallets include:
- An in-app safety centre to educate and keep users updated on how we are protecting their wallets
- Partnerships with globally-recognised security systems with award-winning fraud detection to ensure all GrabPay transactions are safe
- Strong in-house fraud and security team with robust processes and customised algorithms to prevent and detect fraud
- Periodic reminders to users to be mindful of scams and to not disclose TAC codes
For more information about GrabPay DuitNow QR, please click HERE.
About Grab
Grab is the leading super app platform in Southeast Asia, providing everyday services that matter to consumers. Today, the Grab app has been downloaded onto millions of mobile devices, giving users access to over nine million drivers, merchants, and agents. Grab offers a wide range of on-demand services in the region, including mobility, food, package and grocery delivery services, mobile payments, and financial services across 428 cities in eight countries.
About DuitNow QR
DuitNow QR is Malaysia’s National QR Standard established by PayNet under the BNM’s Interoperable Credit Transfer Framework. With the DuitNow QR, users can make payments from any participating bank or e-Wallets’ mobile app, and merchants only need to display one QR code- the DuitNow QR- to accept payments. Currently, there are 31 participants offering DuitNow QR, with others to join in progressively. For more information, please visit www.duitnow.com.my.
Source: Grab Malaysia (Press release)
