GrabPay rolls out DuitNow QR to spur cashless payment adoption

KUALA LUMPUR: GrabPay, the in-app wallet of Grab, has rolled out the GrabPay DuitNow QR across the country to encourage nationwide adoption of cashless payments and the digital economy.

In a statement today, it said DuitNow QR, which is operated by Payments Network Malaysia Sdn Bhd (PayNet), would provide consumers with a safe, easy payment method for in-store purchases and give merchants access to millions of consumers who have adopted the digital-first lifestyle.

It said many Malaysians have adopted contactless payments during the pandemic and the national QR code would make it even easier for consumers to shop safely, reducing physical contact and saving shoppers’ time.

The e-hailing service operator said according to a Bank Negara Malaysia report, the volume of e-wallet payments and merchants accepting QR code payments have increased by 131 per cent and 165 per cent respectively since 2019, indicating that businesses are prepared for cashless payments.

It said with this seamless unified payment option, merchants would see efficiencies in their day-to-day operation thanks to the reduction in managing physical cash, sales reconciliation and paperwork.

“We see many opportunities at Grab to encourage businesses of all sizes to digitalise and embrace digital payments. In the past year, we have welcomed a wide variety of merchants to the platform, from small businesses to large nationwide chains and many consumer goods brands,” Grab Malaysia head of GrabPay Priyanka Madan said.

She added that the implementation of DuitNow QR code is timely, considering recent economic shifts and the most critical needs of users and merchants, enabling both sides to easily, safely and quickly transact with each other while allowing shoppers to have every opportunity to be more economical with their spending. – Bernama