Home Banking Retail based QR payment first launched in Public Bank of Malaysia

Retail based QR payment first launched in Public Bank of Malaysia

A woman walks past a branch of the Public Bank in Petaling Jaya, Malaysia October 3, 2019. Picture taken October 3, 2019. REUTERS/Lim Huey Teng

Malaysia-based Public Bank is the first bank in Malaysia that is facilitating a retail-based QR payment between Thailand and Malaysia. The bank has now extended its PBe QR service to support DuitNow QR Cross Border Payment between both countries. The bank gave a statement that it will pave the way to enable transactions with more ASEAN countries in the upcoming years. This is when the borders reopen after the pandemic. And also, to foster close collaboration with Payment Network Malaysia Sdn Bhd.

Public Bank managing director Tan Sri Tay Ah Lek told the media that the PBe QR, on top of the existing domestic DuitNow QR payment services will be a catalyst. It will be providing simple, cost-effective and secure solution to enable MSMEs in accepting cashless payments. He also added that they are very supportive of the nation’s push towards digitization. The increasing use of smartphones for banking, is helping them to deliver the most efficient and convenient payment services for their customers. The bank posted a net profit of RM1.38 billion. It further revealed that its revenue increased by 3.8 percent. During the first half of 2021, the bank’s net profit rose by 25 percent to RM2.91 billion.

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