Malaysian merchants processing cross-border remittances through the national DuitNow payment network face an outbound ceiling of RM3,000 a day for fund transfers to Singapore as of October 2026.

Domestic business transfers across the same network clear up to RM10 million per transaction, highlighting the gap between local retail payment rails and regional settlement links.

Operated by Payments Network Malaysia, known as PayNet, the retail payments platform functions under the primary ownership of Bank Negara Malaysia alongside commercial lenders. The infrastructure connects commercial banks and non-bank e-wallets into a single interoperable clearing system. Retailers and suppliers send and receive funds using proxy identifiers including mobile numbers, identity card records and verified Business Registration Numbers issued by the Companies Commission of Malaysia.

Consumer transactions clear up to RM50,000 per transfer through commercial banking applications, with transfers up to RM5,000 processed without consumer transaction charges. Above that threshold, financial institutions may levy a 50 sen fee, though individual retail banks retain discretion to waive the charge. Commercial users maintain higher headroom, clearing up to RM10 million per transaction subject to institutional credit and fraud underwriting terms.

Point-of-sale retail payments operate through unified QR standards. Merchants deploy a single static or dynamic QR code that accepts clearing requests from all domestic mobile banking applications and licensed e-wallets. Consumer payments remain fee-free at retail counters, while merchant discount rates apply to retail enterprises depending on their merchant acquirer contract.

E-commerce checkout integrations route directly through DuitNow Online Banking and Wallets, bypassing traditional payment card rails.

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