KUALA LUMPUR, 1 February 2022: Cross-border QR Payments between Malaysia, Thailand and Indonesia are now available, enabling convenient instant payments using just mobile phones.
Further to the joint announcement between central banks of Malaysia and Thailand last year and the joint announcement between the central banks of Malaysia and Indonesia on 27 January 2022, Payments Network Malaysia Sdn Bhd (PayNet) confirmed the payment channels.
• The link with Thailand’s National ITMX has been completed and QR payments are now interoperable between both countries. Travellers between Malaysia and Thailand can opt to make e-payments using their respective home country’s interoperable QRs at participating merchants.
• In partnership with ALTO, ARTAJASA, JALIN & RINTIS, Cross-Border QR payments between Malaysia and Indonesia are now live and interoperable between both countries. Similarly, the link between DuitNow QR and Quick Response Code Indonesian Standard (QRIS) will allow travellers between Malaysia and Indonesia to make instant e-payments at participating merchants.
Paving the way for the Malaysia-Thailand collaboration is Public Bank Berhad, which became the first Malaysian bank together with Razer Merchant Services as the first merchant acquirer provider to participate in the linkage as well as Kasikornbank and Siam Commercial Bank from Thailand.
As for enabling the Malaysia-Indonesia link, among the participating banks are Bank Indonesia, CIMB Niaga, Bank Sinarmas, Bank Central Asia, Bank Mega, Bank Permata, Bank Syariah Indonesia as well as Bank BPD Bali along with Bank Mandiri as the merchant acquirer.
The Malaysia-Indonesia link will also allow payments from eWallets via ShopeePay, Ottocash, DANA, and LinkAja. In the coming months, more banks and merchant acquirers from all three countries respectively are expected to participate.
Malaysians abroad can make payments at participating merchants in Thailand or Indonesia by simply launching their mobile banking or eWallet app to scan the merchants’ QR codes in the respective countries. Conversely, the people from Thailand and Indonesia visiting Malaysia can do the same by scanning DuitNow QR standees to make payments at any participating merchants in Malaysia.
These innovative approaches towards cross border linkage of the financial sector will help establish an international link between merchants and customers in ASEAN countries. This will help accelerate the development of a healthier competitive market and boost regional and international economic activities. With plans of future links with other emerging economies in the ASEAN region, it opens the door for Malaysian industries and businesses to expand beyond our physical borders, contributing to Malaysia’s global trade.
About Payments Network Malaysia Sdn Bhd
Payments Network Malaysia Sdn. Bhd. (“PayNet”) is a national payments network and shared central infrastructure for Malaysia financial markets. It is also the operator of MyDebit domestic debit card scheme with over 46 million cards in circulation.
For more information, visit http://www.paynet.my/