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PayNet to launch money transfer service using DuitNow


Group Chief Executive Officer of Paynet Peter Schiesser showing a application ‘DuitNow’ at a briefing yesterday.

Group Chief Executive Officer of Paynet Peter Schiesser showing a application ‘DuitNow’ at a briefing yesterday.

KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) and some 14 banks are expected to offer DuitNow, a new electronic payment service that allows customers to transfer money securely and instantly using recipients’ mobile number.

Bank Negara is the single largest shareholder in the company and PayNet is supported by 11 major financial institutions as its joint shareholders.

   

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