CONNECT WITH US
Fintech

Fintech

MOF Denies Claims of QR Payment Service Charges Starting 1 Nov

Fintech News Malaysia logo

Published on

Add as a preferred source on Google
MOF Denies Claims of QR Payment Service Charges Starting 1 Nov

Malaysia’s Ministry of Finance (MOF) has denied claims that QR payments will incur a new service charge from 1 November 2026, clarifying that it has made no such announcement.

In a Facebook post on Sunday (18 October), MOF described a circulating poster making the claim as false and urged the public to verify information through its official channels before sharing it.

The poster appeared on Facebook and Threads and did not identify any specific QR payment scheme, bank or e-wallet.

The clarification comes amid changes to merchant fees for DuitNow QR, although these charges are separate from the alleged service fee.

PayNet, which operates DuitNow QR, states that consumers can make payments without additional charges.

However, merchants may incur a merchant discount rate (MDR), calculated as a percentage of each transaction.

Banks and other payment providers that process these transactions determine the applicable rates.

The distinction previously caused confusion in 2023, when a temporary MDR waiver introduced in 2019 ended on 1 October.

Following public concerns, Bank Negara Malaysia (BNM) clarified that consumers would not face additional DuitNow QR charges. Major banks and selected non-bank providers also agreed to continue waiving merchant fees for micro and small businesses.

Together, these providers served approximately 75% of businesses accepting DuitNow QR at the time.

More recently, RHB Bank announced revised DuitNow QR merchant fees effective 26 October 2026.

60% for credit card payments.



Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.