Maybank has made an official announcement reaffirming its commitment to not imposing transaction fees on vendors who accept payments through the DuitNow QR code platform, at least for the foreseeable future.
In their recent statement, the bank emphasized that this fee-free practice would remain unchanged until they provide further updates. The announcement read, "We wish to inform that Maybank has not implemented any fees in relation to DuitNow QR, and this will continue until further notice."
Maybank also stated they will keep merchants informed, stating, "Any changes to this will be communicated ahead of time to the merchants." This statement confirms that merchants will receive prior notice should there be any alterations to the current fee structure.
It's worth noting that Payments Network Malaysia Sdn Bhd (PayNet), the operator of DuitNow QR, recently clarified that debit and credit card payments currently incur a merchant discount rate (MDR), while MDR for QR payments remains exempt. However, a subsequent announcement by PayNet indicated the withdrawal of the MDR waiver for DuitNow QR payments from November 1st, 2023, which received mixed reactions.
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Public Bank has joined Maybank in indefinitely waiving the DuitNow QR charge, while CIMB has opted to waive it until the end of this year.
Source: Malay Mail
