PM to discuss DuitNow QR fee on Tuesday

The Prime Minister will be presiding over a special meeting regarding the imposition of a transaction fee for payments made through DuitNow QR on Tuesday, according to Fuziah Salleh.

Fuziah, the Deputy Domestic Trade and Cost of Living Minister, stated that the meeting would include representatives from Bank Negara Malaysia, the regulator of the country’s banking sector.

She expressed concern about the impact of the transaction fee on the approximately 1.874 million people who use the DuitNow QR platform for cashless transactions.

Fuziah made these remarks during the launch of the Melaka-level Rahmah Sales program, where Allex Seah Shoo Chin, the State Entrepreneur, Cooperative Development and Consumer Affairs Committee chairman, and Norena Jaafar, the Melaka Domestic Trade and Living Costs Ministry director, were also present.

In addition, Fuziah highlighted the potential negative effects of the transaction fee on the digitalization programs outlined in the 12th Malaysia Plan.

She cited the Retail Sector Digitalisation Initiative program, implemented by the ministry to facilitate digital payment methods for small entrepreneurs, and expressed concern about the impact on micro and small traders and consumers.

Last Thursday, Payments Network Malaysia Sdn Bhd (PayNet) confirmed the imposition of a transaction fee for vendors receiving payments through the DuitNow QR platform, effective November 1, 2023.

The lifting of the fee waiver, initially granted to promote DuitNow QR usage during its introduction in 2019 and extended due to Covid-19, was cited as the reason for the imposition of the fee.

However, MCA president Datuk Seri Dr Wee Ka Siong called for the fee waiver to be made permanent.

In response, certain banks such as CIMB, Public Bank, Maybank, Hong Leong Bank, and Hong Leong Islamic Bank announced their intention to temporarily waive the charges.

Meanwhile, Fuziah informed the public about the availability of local rice supplies at the Agro Madani Sales program and subsidized imported rice through the Rahmah Sales program.

She also mentioned that information about the sales programs’ locations can be found on the ministry and Federal Agricultural Marketing Authority (Fama) websites.