KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said on Friday (Sept 29) that the imposition of a transaction fee for payments made via DuitNow QR and transactions conducted with credit cards will not burden the low-income group in the country.
Anwar, who is also Finance Minister, said he had met Bank Negara Malaysia (BNM) Governor Datuk Shaik Abdul Rasheed Abdul Ghaffour yesterday to get clarification on the matter.
“I discussed with the BNM Governor yesterday. According to him, it (transaction fee) will not be imposed on the lower group.
“What is important is that it will not burden the low-income group,” he told reporters after visiting the ‘Postnormal Times’ exhibition at the KL Jazz and Arts Centre here.
Yesterday, Payments Network Malaysia Sdn Bhd (PayNet) confirmed that a transaction fee will be imposed on vendors for payments received through the DuitNow QR platform and transactions conducted with credit cards effective Nov 1, 2023.
However, the 50 sen fee will be charged for transactions exceeding RM5,000 involving peer-to-peer fund transfers from one personal QR to another personal QR, not payments to merchants.
Asked about MCA president Datuk Seri Dr Wee Ka Siong’s suggestion that the transaction fee be abolished, Anwar said this matter should be handled by BNM. – Bernama
Paragraph 1: Prime Minister Datuk Seri Anwar Ibrahim has stated that the introduction of a transaction fee for DuitNow QR payments and credit card transactions will not burden the low-income population in Malaysia.
Paragraph 2: Anwar, who is also the Finance Minister, recently met with Bank Negara Malaysia (BNM) Governor Datuk Shaik Abdul Rasheed Abdul Ghaffour to seek clarification on the situation.
Paragraph 3: During their discussion, Anwar was informed by the BNM Governor that the transaction fee would not be imposed on the lower-income group in Malaysia.
Paragraph 4: Anwar emphasized the importance of ensuring that the low-income group is not burdened by this transaction fee during a press conference held after his visit to the ‘Postnormal Times’ exhibition at the KL Jazz and Arts Centre.
Paragraph 5: Payments Network Malaysia Sdn Bhd (PayNet) had confirmed on the previous day that a transaction fee would be implemented for payments received through the DuitNow QR platform and credit card transactions starting from November 1, 2023.
Paragraph 6: However, the 50 sen fee will only apply to transactions exceeding RM5,000 involving peer-to-peer fund transfers from one personal QR to another personal QR, rather than payments to merchants.
Paragraph 7: When asked about the suggestion made by MCA President Datuk Seri Dr Wee Ka Siong to abolish the transaction fee, Anwar commented that this matter should be addressed by the Bank Negara Malaysia.
Paragraph 8: Anwar’s reassurance that the low-income group will not be burdened by the transaction fee is based on his discussion with the BNM Governor, who confirmed their exemption.
Paragraph 9: This announcement by PayNet regarding the implementation of a transaction fee has triggered discussions and debates, with some expressing concerns about its potential impact on the low-income population.
Paragraph 10: The matter of abolishing the transaction fee is now under the purview of Bank Negara Malaysia, as suggested by Anwar in response to Dr Wee Ka Siong’s proposal.
Credit: The Star : News Feed
