KUALA LUMPUR: Public Bank customers will be able to make instant payments with the DuitNow QR cross-border payment between Malaysia and Indonesia or Thailand via Public Bank’s PBe QR Service.

       The bank said in a statement that this would allow customers travelling abroad to transact conveniently with merchants in Indonesia and Thailand using Public Bank’s mobile banking application – PB engage.

       Similarly, customers from Indonesia and Thailand can use their home countries’ banking accounts to pay merchants in Malaysia.

       “With the Malaysian government looking to open its international borders by March, the convenience of using cross-border payment and DuitNow QR linkage with both Indonesia and Thailand will further encourage economic activities with these nations,” said Public Bank managing director and chief executive officer Tan Sri Tay Ah Lek.

       This initiative marks a new milestone since Public Bank’s launch of the nation’s first DuitNow QR cross-border payment acceptance in June 2021 to facilitate international QR Payment from Thailand and subsequently from Indonesia.

       DuitNow

       Developed in collaboration with Payment Network Malaysia Sdn Bhd (PayNet), Tay said the cross-border QR payment linkage will also further Public Bank’s efforts to provide greater financial inclusion as part of its environmental, social and governance efforts.

       “Businesses of all sizes, including micro, small and medium enterprises (MSMEs) can now accept payments efficiently and securely with cashless payments that are cost effective. This will lower the barrier of doing business for MSMEs as Asean borders gradually reopen.

       “For retail customers, apart from having a more convenient and safer option to make payment, they will also enjoy better foreign exchange rates. Hence, customers will get better value from their spending, contributing to a win-win solution for all,” said Tay.

       Public Bank has waived the transaction fees for retail customers and its PBe QR Merchants, including for cross-border QR payments to and from Indonesia and Thailand, until Dec 31, 2022.