If you run an SME in Malaysia, you’ve probably come across DuitNow when looking for a quick way to pay suppliers, accept customer payments or send money.
This guide explains how DuitNow works, what it costs, its transaction limits and how your business can use DuitNow Transfer, DuitNow QR and cross-border payments. We also look at WorldFirst as a DuitNow alternative for when you need to pay or get paid in other currencies.
Key Takeaways
- DuitNow gives Malaysian SMEs several ways to make and receive local payments. These include instant transfers, QR payments, payment requests, online banking payments, and recurring collections.
- With DuitNow Transfer, you can pay someone using their mobile number or Business Registration Number instead of their bank account details.
- With DuitNow QR, one QR code lets you accept payments from customers of any participating bank or e-wallet.
- DuitNow has some cross-border features, but they cover only a few countries in Asia.
What is DuitNow?
DuitNow (sometimes written “Duit Now”) is Malaysia’s real-time payment ecosystem that connects participating banks, e-wallets, consumers, and businesses for instant transfers and other digital payment services. It’s run by PayNet (Payments Network Malaysia), the company behind Malaysia’s shared payment infrastructure. Bank Negara Malaysia, the central bank, is its largest shareholder.
DuitNow is widely used across Malaysia. Its main benefit is convenience: you can send or receive money without typing in bank account details. Instead, you pay someone using an ID they’ve registered, such as their mobile number, NRIC (Malaysian identity card) number or business registration number.
How does DuitNow work?
DuitNow works through PayNet’s real-time retail payments platform. The payer enters the recipient’s DuitNow ID, such as a mobile number or Business Registration Number, or scans a DuitNow QR code in their banking or e-wallet app. The payer checks the recipient’s registered name and authorises the payment. The money is then credited to the account linked to that DuitNow ID, usually instantly.
DuitNow Key Features at A Glance
Here are some of the major features DuitNow offers:
| Features | What it does | Best for |
| Instant transfers | Send and receive money in real time between supported banks and other payment providers. | Urgent payments to suppliers, customers, and other businesses |
| DuitNow ID | Lets you send money using a registered ID, such as a mobile number or business registration number, instead of bank account details. | Paying someone when you don’t have their bank details |
| DuitNow QR | Lets customers pay by scanning a QR code with their banking or e-wallet app. | In-person and online customer payments. |
| Account-number transfer | Send instant payments directly to a recipient’s account number. | Paying someone who hasn’t registered a DuitNow ID |
DuitNow Transfer
DuitNow Transfer lets you send money instantly to someone’s registered DuitNow ID, such as their mobile number, NRIC number, business registration number or passport number. It’s a quick way to pay suppliers, contractors and staff.
How to send money using DuitNow Transfer:
- Log in to your mobile banking app or your e-wallet account
- Select “DuitNow Transfer” as your payment method
- Enter the recipient’s DuitNow ID (for example, their mobile number, NRIC number, passport number or business registration number)
- Check that the registered name shown matches the person or business you mean to pay
- Add the amount and any other payment reference
- Approve the transfer using your bank’s usual security check, such as a PIN or one-time password
DuitNow transfer limit
Consumers can transfer up to RM50,000 per transaction at banks, and businesses can transfer up to RM10 million per transaction. Each bank or e-wallet can set lower limits, so check the limits on your own account. DuitNow Transfer is free for consumers for amounts up to RM5,000. A 50 sen fee may apply above this amount, although some banks waive it. Businesses should check transaction fees with their bank. For transfers to Singapore, DuitNow Cross Border Fund Transfer has a limit of RM3,000 a day.
DuitNow QR
DuitNow QR lets your customers pay you by scanning a QR code with their Malaysian banking or e-wallet app.
Because one code works across all participating banks and e-wallets, you don’t need a separate QR code for each provider. It suits shops, stalls and other in-person sales. Paying by DuitNow QR is free for customers. As a merchant, you may pay a merchant discount rate (MDR): a percentage of each sale, set by your bank or payment provider.
How to receive money using DuitNow QR::
- Apply for a DuitNow QR code through your bank or payment provider.
- Display the DuitNow QR code in your physical store or on an online platform.
- Payments you receive via DuitNow QR are typically credited instantly, subject to your bank or e-wallet’s terms.
Cross Border QR Payments
DuitNow Cross Border QR Payments lets visitors from China, Indonesia, Singapore, Thailand, South Korea and Cambodia pay you using their home banking or payment app, so you don’t need to handle foreign cash.
How Cross Border QR payment works:
- Register for DuitNow QR using a bank, e-wallet, or payment provider
- Enable cross-border QR acceptance
- Display your DuitNow QR code at your physical store or any other payment points
- Visiting customers from supported countries scan the QR code with their home bank or payment app
- You receive the money in ringgit (MYR) regardless of the currency the customer pays in.
Learn more: How to receive international payments in Malaysia [2026]
DuitNow Request
DuitNow Request lets you send a payment request to a client or business partner using their DuitNow ID. They get a notification in their banking or e-wallet app, check the details and approve the payment. Neither side needs to share bank account details.
DuitNow Request generally has a daily limit of RM50,000 for individual payers and a limit of RM10 million per transaction for corporate payers. Each bank or e-wallet can set its own limits.
How to request payments with DuitNow Request:
- Log in to your preferred online banking or e-wallet app
- Enter the payer’s DuitNow ID, the amount and a payment reference
- Review the payer’s information, then send your DuitNow Request.
DuitNow Online Banking/Wallets
DuitNow Online Banking/Wallets is a checkout option that lets customers pay you online straight from their bank account or e-wallet, without entering card details. It suits e-commerce businesses that want an alternative to card payments.
Here’s how to receive payment with DuitNow online banking/wallets:
- Enable DuitNow online banking/wallets via a bank or payment provider
- Add it as a payment option on your website or app
- At the checkout, the customer selects DuitNow online banking/wallets
- The customer chooses their preferred bank or e-wallet.
- The customer is then redirected to their payment provider to review and authenticate the payment.
DuitNow AutoDebit
DuitNow AutoDebit lets you collect one-off or recurring payments directly from a customer’s account once they’ve given permission, much like a direct debit. It suits recurring payments such as utility bills, insurance premiums and subscription fees.
Here’s how DuitNow AutoDebit works:
- Register for DuitNow AutoDebit via a bank or payment provider
- Ask the customer to provide consent through their banking app, e-wallet, or business platform
- The customer sets the payment terms, such as the maximum amount you can collect
- Once the customer approves, you can collect payments within those terms
- The customer doesn’t need to approve each payment.
Learn more: International Business Payments: A Complete Guide for Malaysian SMEs
How to Register and Receive Money From DuitNow
You register for DuitNow through your bank or e-wallet provider. To accept DuitNow QR payments, you’ll also need to sign up as a merchant with a participating bank or payment provider.
To register a DuitNow ID so you can receive payments:
- Log in to your participating bank’s mobile or internet banking app
- Find the DuitNow registration or DuitNow ID option
- Select the DuitNow ID you want to link. This could be your business registration number
- Choose the bank account you want payments to go into
- Review the details and complete the registration process.
You don’t need a DuitNow ID to send money, only to receive it. To receive money from DuitNow, share your registered DuitNow ID or DuitNow QR code with the payer. Payments are credited to your linked bank account or e-wallet, usually instantly.
Each DuitNow ID can only be linked to one account at a time. For DuitNow QR, businesses need to choose a supporting bank or e-wallet provider and register as a merchant.
Once your merchant application is approved, your provider issues a DuitNow QR code that accepts payments from all participating banks and e-wallets.
Pros and Cons of DuitNow
DuitNow handles most everyday payments within Malaysia well. If your business needs to hold or pay in other currencies, you’ll need another tool alongside it.
Here are the pros and cons of DuitNow:
Pros
- Transfers between participating banks and e-wallets are usually instant, and businesses can send up to RM10 million per transaction. Fees vary by provider.
- Merchants can receive payments from banks and e-wallets with a single DuitNow QR code.
- You can pay using simple IDs such as a mobile number or NRIC number. Businesses registered with SSM (the Companies Commission of Malaysia) can use their Business Registration Number (BRN).
- Businesses can complete a one-time registration through a participating bank or e-wallet to link their verified BRN to an account.
- Payments are secured by your bank or e-wallet’s usual checks, such as a one-time password (OTP), fingerprint or face recognition, or a PIN.
Cons
- DuitNow’s inbound Cross-Border QR Payment coverage is currently limited to Indonesia, Singapore, Thailand, China, Cambodia, and South Korea.
- For cross-border QR payments, the customer’s bank or e-wallet sets the exchange rate, and you can only receive the money in ringgit (MYR), not in foreign currency.
- Transaction limits and fees vary by bank and e-wallet provider. Check with your providers to confirm your account limits.
Can You Use DuitNow for Overseas Transfers?
DuitNow Transfer is mainly for payments within Malaysia. The one overseas option is DuitNow Cross Border Fund Transfer, which lets you send money to PayNow users in Singapore.
This works because DuitNow is linked to PayNow, Singapore’s equivalent service. The service is designed for person-to-person payments and is capped at RM3,000 a day, so it isn’t built for regular supplier payments.
If you pay overseas suppliers regularly, foreign exchange (FX) costs add up. Banks and payment providers may charge a transfer fee and also add a margin to the exchange rate, so the rate you get is less favourable than the market rate. Both increase what each payment really costs you.
WorldFirst is designed for cross-border business payments. World Account lets businesses hold and convert multiple currencies and pay suppliers internationally. It provides visibility into international payment costs, so you can view the exchange rate and applicable fees before confirming any transaction. With WorldFirst, there are no set-up, subscription or monthly fees, and it’s free to receive funds. Fees apply to some outgoing payments, such as SWIFT transfers, and vary by currency and payment type. You’ll see all transfer fees upfront. See WorldFirst’s Malaysia pricing page for current fees.
Learn more: Best multi-currency accounts in Malaysia [2026]
Discover WorldFirst – An Alternative to DuitNow
DuitNow works well for instant ringgit payments, recurring collections and QR payments within Malaysia. But if you regularly deal in foreign currencies, you’ll need something built for cross-border payments.
For example, with DuitNow Cross-Border QR you always receive ringgit, even when the customer pays in their own currency. You can’t keep US dollars to pay a US supplier later.
WorldFirst USD account lets SMEs receive, hold, convert, and pay in USD. You get US account details (an account number and routing number), so customers and marketplaces such as Amazon can pay you as if you had a local US account.
FAQs on DuitNow in Malaysia
1. Is DuitNow only available in Malaysia?
Mostly. DuitNow is built for payments within Malaysia, but some services work across borders: inbound cross-border QR payments from China, Korea, Singapore, Thailand, Cambodia, and Indonesia, and fund transfers to Singapore.
2. Can I send foreign currency through DuitNow?
No. With DuitNow, you pay and get paid in ringgit. To pay international suppliers or send money in other currencies, you’ll need a cross-border payment provider such as WorldFirst.
3. Do I need a bank account to use DuitNow?
Not necessarily. You can use DuitNow through a participating Malaysian bank or a supported e-wallet. The services available depend on your provider.
4. Is there a DuitNow app?
No. DuitNow is not a separate app. You use DuitNow inside the mobile banking or e-wallet app of a participating bank or e-wallet provider, for example when you select DuitNow Transfer or scan a DuitNow QR code.
5. What is the difference between DuitNow Transfer and DuitNow QR?
With DuitNow Transfer, you enter the recipient’s DuitNow ID, such as their mobile number. With DuitNow QR, you scan the recipient’s QR code instead, which is quicker for in-store payments.
6. Can businesses use DuitNow for customer payments?
Yes. You can accept in-store payments with DuitNow QR, take online payments with DuitNow Online Banking/Wallets, send payment requests with DuitNow Request, and collect authorised recurring or one-off payments with DuitNow AutoDebit. With Cross-Border QR, you can also accept payments from visitors who use supported overseas payment apps.
7. Is DuitNow available for international business payments?
Only to a limited extent. If you need to pay overseas suppliers, receive foreign currencies or hold several currencies, you’ll need an international payment provider. WorldFirst lets businesses send and receive international payments, hold multiple currencies, and manage cross-border transactions through a World Account.
Sources
- https://knowledgebase.paynet.my/hc/en-us/articles/49585989620633-How-Do-I-Use-DuitNow-QR
- https://docs.paynet.my/docs/duitnow-qr/merchant-presented-qr/cross-border-inbound-qr
- https://knowledgebase.paynet.my/hc/en-us/articles/49694307247897-Frequently-Asked-Questions-FAQs
- https://knowledgebase.paynet.my/hc/en-us/articles/49583136924441-How-do-merchants-onboard-to-DuitNow-QR
- https://paynet.my/faq/business-duitnow.html
- https://knowledgebase.paynet.my/hc/en-us/articles/49584176719513-How-Can-Merchants-Use-DuitNow-QR
- https://paynet.my/faq/personal-duitnow.html
- https://paynet.my/business-solutions/duitnow-transfer.html
- https://docs.paynet.my/docs/transfer/overview
- https://knowledgebase.paynet.my/hc/en-us/articles/49480623045657-How-Do-I-Register-for-DuitNow-Transfer
- https://knowledgebase.paynet.my/hc/en-us/articles/49583836392345-Is-DuitNow-QR-Safe-to-Use
- https://paynet.my/personal-solutions/duitnow-crossborder-fund-transfer.html
- https://www.bnm.gov.my/-/mysg-pmt-en
- https://knowledgebase.paynet.my/hc/en-us/articles/49748850759577-Frequently-Asked-Questions-FAQs
- https://docs.paynet.my/docs/autodebit/overview
- https://www.worldfirst.com/my/pricing/
