SMEs to continue enjoying transaction fee exemption for using DuitNow QR code payment

PUTRAJAYA: The transaction fee for using the DuitNow quick-response (QR) code will be waived for small and medium enterprise (SME) businesses. 

Following the National Action Council on Cost of Living (NACCOL) meeting today, Prime Minister Datuk Seri Anwar Ibrahim said Bank Negara Malaysia (BNM) has clarified the matter. 

He also said that Payments Network Malaysia Sdn. Bhd. (PayNet) will also do its part to ensure SMEs are exempted from the extra charge. 

"PayNet will allocate resources to help finance the costs incurred by payment service providers, especially non-bank providers that continue to offer full exemptions to micro and small businesses," he said in a statement today. 

The issue of possible transaction fees to be imposed for payments made through the DuitNow QR code from Oct 1 onwards was reported in a portal recently. 

PayNet responded saying there would not be any new fee for using the transaction service.

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