FOR IMMEDIATE RELEASE
16 February 2022
Enjoy QR Cross Border Payment convenience between Malaysia with both Indonesia and Thailand via Public Bank’s DuitNow QR
Businesses and consumers can now make instant payments using DuitNow QR Cross Border Payment between Malaysia with both Indonesia and Thailand using Public Bank’s PBe QR Service.
This would allow Public Bank customers travelling abroad to transact conveniently with merchants in Indonesia and Thailand using Public Bank’s mobile banking application, PB engage, while customers from Indonesia and Thailand can comfortably use their home countries’ banking accounts to pay merchants in Malaysia.
“With the Malaysian Government looking to open its international borders by March, the convenience of using Cross Border Payment and DuitNow QR linkage with both Indonesia and Thailand will further encourage economic activities with these nations,” said Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek.
This initiative marks a new milestone since Public Bank’s launching of the nation’s first DuitNow QR Cross Border Payment Acceptance in June 2021 to facilitate international QR Payment from Thailand and subsequently from Indonesia.
Developed in collaboration with Payment Network Malaysia Sdn. Bhd. (PayNet), Tan Sri Tay said that the Cross Border QR Payment linkage will also further Public Bank’s efforts to provide greater financial inclusion as part of Public Bank’s Environmental, Social and Governance (ESG) efforts.
“Businesses of all sizes, including Micro, Small and Medium Enterprises (MSMEs) can now accept payments efficiently and securely with cashless payments that are cost effective. This will lower the barrier of doing business for MSMEs as ASEAN borders gradually reopen. Meanwhile, for retail customers, apart from having a more convenient and safer option to make payment, they will also enjoy better foreign exchange rates. Hence, customers will get better value from their spending, contributing to a win-win solution for all,” Tan Sri Tay said.
Accelerating the usage further, Public Bank has been waiving the transaction fees for both retail customers and its PBe QR Merchants – including cross border QR Payments to and from Indonesia and Thailand until 31 December 2022.
About PBe QR
Launched in 2019, PBe QR service is a merchant acceptance facility enabling businesses to accept cashless payments in a safe and secured manner by accepting DuitNow QR Payments from any local banks and e-Wallet operators. DuitNow QR is a universal QR code provided by PayNet, a wholly-owned subsidiary of Bank Negara Malaysia.
PBe QR supports payment acceptance from any savings accounts, current accounts, e-wallets, and credit cards at a minimum to zero cost for merchants. The service has now been extended to accept DuitNow QR Cross Border Payment for payments to and from Indonesia and Thailand.
Merchants can easily register for PBe QR at Public Bank’s official website for instant approval without the hassle to submit documents and to start accepting QR payments immediately. PBe QR merchants will enjoy the benefits of accepting a cashless payment in a safe and secured manner that is settled instantly into their Public Bank account.
Mr. Peter Schiesser, Group CEO of PayNet and Tan Sri Dato’ Sri Tay Ah Lek, Managing Director & CEO of Public Bank Berhad during the Public Bank’s soft launch of the Malaysia’s National QR Standard: DuitNow QR on 17 July 2019. Public Bank was the first bank to adopt the standard.
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