Malaysia has already established QR payment linkages between DuitNow and the respective national QR system of these countries in order to facilitate cashless transactions for small merchants who might not be able to use card terminals. The linkages include Singapore’s NETS, Thailand’s PromptPay, and Indonesia’s Quick Response Code Indonesian Standard (QRIS).
With the feature being implemented in MAE, users can use the app to directly make a payment to a merchant when overseas, which will automatically convert it to the local currency. Just open up the QR feature in the app, scan the merchant’s QR code, and key in the amount in the local currency. The app will then show the amount that will be deducted in Ringgit and you will have to authorise the payment if it is more than RM250. The daily transaction limit for cross-border QR payments is RM1,000 or its equivalent in a foreign currency, although you can change the daily limit in the app settings. In related news, Maybank is reminding its customers that by July, all online card transactions will require Secure2u authorisation through the MAE app.
BigPay recently enabled cross-border payments as well, but it does not support Indonesia yet. Moreover, it only allows Malaysians to make payments overseas whereas MAE also supports Malaysian merchants receiving payments from tourists. Last year, five Southeast Asian countries agreed to link QR codes to promote trade in the region as well as make travel more seamless. Malaysia now has cross-border QR payment linkages with Singapore, Indonesia, and Thailand, but it has yet to link DuitNow to the Philippines’ system. (Source: Maybank)
