KUALA LUMPUR: Wise has connected directly to Payments Network Malaysia (PayNet), enabling its users to make payments via DuitNow QR and simplifying Malaysian ringgit transfers.
In a statement, the global financial technology company said Malaysia is the ninth market globally and fifth in the Asia-Pacific region where it has gained direct access to a domestic payment system.
The integration allows Wise users to scan and pay using DuitNow QR codes directly through the Wise app. The feature is being rolled out progressively and will expand to support all DuitNow QR codes nationwide over the coming weeks.
Wise said the direct connection also supports DuitNow Transfer, allowing users to send money using a recipient's mobile number or National Registration Identity Card (NRIC), with recipient name verification before funds are transferred.
The company said direct access to domestic payment systems reduces reliance on intermediaries and is expected to improve transaction efficiency over time.
Wise added that the infrastructure is also available to banks and financial institutions through Wise Platform, enabling partners using its application programming interface (API) to perform real-time recipient verification for MYR transfers.
"Connecting directly to the local payment system and offering access to DuitNow QR is one example of how Wise is making moving money simpler.
“We want to take the friction out of the everyday transactions in Malaysia, bringing greater ease and convenience to consumers,ˮ Wise Malaysia country manager Yen Ting Chiam said.
