MCA president Datuk Seri Wee Ka Siong has urged Payments Network Malaysia Sdn Bhd (PayNet) to extend the waiver on the merchant discount rate (MDR) for DuitNow QR users, citing potential benefits for small merchants and banks.
“Most (DuitNow QR users) are small merchants who would receive cash payments if they did not use DuitNow QR.
“So, banks will also benefit from the reduction in cash handling costs if merchants prefer using the DuitNow QR method over cash,” the former transport minister said in a Facebook post today.
He pointed out that many DuitNow QR users are small-scale merchants who might resort to handling cash payments if the waiver is not extended.
Moreover, Wee argued that such a waiver would align with the Malaysian government’s ongoing efforts to promote digitalisation and cashless transactions.
Earlier, PayNet confirmed that effective Nov 1, vendors using the DuitNow QR code platform would incur a transaction fee and the MDR waiver for DuitNow QR payments to merchants, which had been in place since 2019 and extended during the COVID-19 pandemic would also be lifted.
PayNet clarified that the MDR is not a new fee or an additional charge.
Furthermore, it stated that the imposition of MDR on DuitNow QR payments is not expected to impact the prices of goods and services.
Addressing concerns that businesses might pass on the MDR costs to consumers, PayNet noted that purchases made with credit and debit cards already incur MDR.
“Purchases using credit and debit cards are already subject to MDR. Products and services purchased with credit or debit cards are priced the same as cash purchases,” it added. – Sept 28, 2023
