KUALA LUMPUR: Bank Negara and the Monetary Authority of Singapore (MAS) plan to begin a phased linkage of Malaysia’s DuitNow and Singapore’s PayNow real-time payment systems. “Customers will also be able to make retail payments by scanning DuitNow or NETS QR codes displayed at merchants’ storefronts. Following the launch, Bank Negara and MAS will progressively expand the DuitNow-PayNow linkage to incorporate a wider range of features and participants. Bank Negara said the DuitNow-PayNow linkage represented another significant milestone in the history of close ties between Malaysia and Singapore. Bank Negara assistant governor Fraziali Ismail said this initiative would further strengthen the economic ties between Malaysia and Singapore, as well as serve as a key enabler to support post-pandemic economic growth.
