PETALING JAYA: CIMB Bank and Public Bank have decided to extend the waiver of the merchant discount rate (MDR) on vendors accepting payments via the DuitNow QR code platform.
Public Bank has opted to postpone the lifting of the MDR waiver “until further notice”, while CIMB will maintain the waiver until Dec 31.
Earlier today, Payments Network Malaysia Sdn Bhd (PayNet) confirmed that vendors would be charged a transaction fee for payments received via DuitNow from Nov 1.
It said debit and credit card payments were currently subject to MDR, of which there was a waiver for QR payments.
It added that the MDR was not a new or additional charge, but was waived to promote the use of QR payments when it was introduced in 2019.
PayNet said it not did not expect prices of goods and services to be affected by the MDR fee, pointing out that purchases made with credit and debit cards already incurred MDR.
