Malaysia’s central bank is moving to phase out proprietary QR payment networks as part of a plan to create a single, interoperable QR payment system nationwide by 2028 in push for unified network.
Under the Interoperable Fund Transfer Framework issued by Bank Negara Malaysia (BNM), existing proprietary QR networks must be discontinued by 30 June 2028. During the transition period, affected operators will also be prohibited from onboarding new merchants into closed-loop systems.
Move toward one national QR system
The policy aims to ensure consumers can use any participating bank or e-wallet app to make payments through a shared QR system, instead of relying on separate provider-specific networks.
Banks offering QR payment services are required to join the shared infrastructure and allow customers to pay merchants across all participating institutions. Similarly, merchant acquirers must ensure that merchants can accept payments from users of any participating bank or e-wallet.
DuitNow QR to serve as core infrastructure
The shared system will be based on Malaysia’s Real-time Retail Payments Platform, operated by Payments Network Malaysia Sdn Bhd (PayNet).
This infrastructure supports:
- DuitNow Transfer
- DuitNow QR
PayNet is 35.5% owned by Bank Negara Malaysia, alongside 11 Malaysian financial institutions, including Maybank.
Rising use of digital payments
According to BNM, Malaysians now conduct at least 1.5 electronic payment transactions per person per day, reflecting strong adoption of digital and mobile banking services.
The central bank said the shared infrastructure connects bank accounts and e-money accounts, enabling both fund transfers and merchant payments within a unified system.
Loyalty programmes still allowed
BNM and PayNet clarified that businesses will still be able to offer:
- Loyalty programmes
- Promotions and discounts
- Other value-added services
These can continue within the shared QR payment ecosystem.
What this means for you
- You can use any bank app or e-wallet to scan and pay
- You won’t need to check whether a shop supports your specific e-wallet
- One QR code at the counter will work for almost all payment apps
- Merchants only need one QR system instead of multiple providers
- Everything will be unified under DuitNow QR
In short: “One QR code, all payment apps work.”
Transition timeline
- Now – 2028: Transition period
- 30 June 2028: Deadline for discontinuation of proprietary QR networks
The move is part of BNM’s broader goal to build a fully interoperable digital payment ecosystem, allowing seamless QR payments across all banks and e-wallets in Malaysia.
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