The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) today launched a cross-border QR code payment linkage between Singapore and Malaysia.
This payment linkage will allow customers of participating financial institutions to make retail payments by scanning NETS QR and DuitNow QR codes. It will support in-person payments through the scanning of physical QR codes displayed by merchants, and online cross-border e-commerce transactions.
The NETS-DuitNow QR code payment linkage is a key milestone in the on-going collaboration between Singapore and Malaysia to enhance cross-border payments connectivity. With pre-pandemic annual traffic between the two countries averaging 12 million visitors, the payment linkage will provide merchants and consumers with a more seamless and efficient means to make and receive payments.
This…
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