KUALA LUMPUR: Homegrown e-wallet Boost has announced that it is now part of the PayNet Real Time Retail Payment Platform (RPP) and will adopt DuitNow QR, effective today.
Boost chief executive officer Mohd Khairil Abdullah said this new participation by Boost is timely as it expands its offline digital payment offerings and capabilities to help break the Covid-19 cycle in a safe and contactless manner.
“We are thrilled to be part of the DuitNow QR network and work hand-in-hand with PayNet to contribute towards charting the next chapter of the country’s digital and cashless transformation.
“It will no doubt help the economy recover by enabling Malaysians to keep safe and contactless when going out with more movement freedom during this conditional movement control order (CMCO) and recovery movement control order (RMCO) period and beyond,” he said in a statement, today.
DuitNow QR is Malaysia’s national QR code standard established by Payments Network Malaysia (PayNet) under Bank Negara Malaysia’s (BNM) Interoperable Credit Transfer Framework (ICTF).
The DuitNow QR functions as a standardised and unified QR code that offers a cashless, contactless and convenient way of shopping for all e-wallet users, including those not on the Boost platform.
Meanwhile Paynet group chief executive officer Peter Schiesser said having Boost onboard the DuitNow ecosystem will further strengthen their contribution in enabling businesses, especially micro-enterprises and small and medium enterprises (SMEs) to accept digital payments and to weather the impact of Covid-19.
“With Boost’s strong user and merchant base that extends to Sabah and Sarawak adopting DuitNow QR, the rapidly expanding national DuitNow ecosystem is set to drive higher ePayments adoption and wider financial inclusion in the country,” he said.
Boost made its mark as the first major e-wallet in the country back in October 2017 and has rapidly grown its footprint to nearly nine million users.
Now, with the DuitNow QR code, it increases its merchant base to over 231,000. – Bernama