Photo 1 - RHB - Dato’ Fad’l Mohamed
KUALA LUMPUR: RHB Banking Group, in partnership with Payments Network Malaysia (PayNet), has introduced the Dynamic DuitNow QR (DNQR) Soundbox with a keypad feature, marking a major step forward in the group’s fight against financial fraud.
The bank said the Dynamic DNQR SoundBox is an innovative device supporting both static and dynamic QR payments, designed for seamless transactions, reducing human error, and enhancing operational efficiency.
Equipped with an integrated calculator function, it speeds up payments, making it ideal for high-volume transaction environments such as food and beverage outlets and retail stores.
“The Dynamic DNQR Soundbox exemplifies our commitment to safeguarding merchants and consumers in an increasingly digital landscape. Real-time voice and visual alerts provide reassurance and security, effectively mitigating risks associated with cashless transactions,” RHB managing director of group wholesale banking Datuk Fad’l Mohamed said in a statement.
Launched in December 2023, RHB's DNQR Soundbox enhances transaction security with voice and display notifications upon payment.
RHB has deployed nearly 4,000 DNQR merchants, with 5,000 touchpoints equipped with the Soundbox. This initiative has seen a substantial uptick, with over 600 new-to-bank merchants onboarded, witnessing a 33% increase in DNQR transactions from over 260,000 to close to 352,000, and transaction values rising from RM12mil to RM16mil within five months.
Meanwhile, Paynet senior director, commercial division Azrul Fakhzan Mainor said: “At PayNet, we believe that innovation and security go hand in hand. Our collaboration on the Dynamic DNQR Soundbox with RHB underscores our dedication to creating a secure, efficient, and inclusive digital payment landscape.”
“By supporting the cashless agenda, we aim to drive greater adoption of digital payments, empowering businesses, and consumers alike to engage in safer, more efficient transactions. Together, we are committed to protecting consumers and merchants while advancing the nation's digital economy.”
