In December 2018, Payments Network Malaysia Sdn Bhd (PayNet) and banks in Malaysia successfully launched DuitNow, a service that allows bank customers to transfer money instantly and securely to a recipient's mobile phone number at online banking channels.
On Jan 8, PayNet initiated the DuitNow Launch Campaign offering a total of RM3.6mil worth of amazing prizes for those who register and transfer using the service.
Registered DuitNow customers have until May 31 to stand a chance to win a RM1mil dream home. The grand prize winner gets to select a property worth up to RM1mil from the portfolios of IJM Land, Sime Darby Property or S P Setia.
"We wanted to allow the grand prize winner the flexibility to choose a property at a location of their choice," said PayNet Group CEO Peter Schiesser.
DuitNow works directly with banks in Malaysia with the primary mission of providing instant transfers directly to bank accounts. In a market where there are many ways to transfer money, DuitNow offers the convenience of just a mobile phone number as a mode of transfer.
No matter what bank a customer has, the money is transferred and received instantly.
In addition to mobile phone numbers, customers can send money instantly on a 24/7 basis to other DuitNow IDs such as MyKad or business registration numbers, just by accessing the Funds Transfer menu from their respective banks' Internet or mobile banking platforms.
Sending money up to RM5,000 is free for consumers and SMEs.
To receive money, bank customers need only perform a one-time registration for DuitNow by linking their mobile numbers, MyKad or MyPR numbers, passport numbers or business registration numbers with their bank accounts.
Consumers have the flexibility to change the receiving bank as and when they want. For example, if bank ABC is the current registered DuitNow bank, all a customer has to do is log on to XYZ bank's Internet or mobile banking platform to register with XYZ.
The registration will automatically be transferred from ABC bank to XYZ bank.
Bank customers can join the contest by registering for DuitNow at their bank. Every DuitNow funds transfer to a unique DuitNow ID each day counts as one contest entry.
Customers who previously registered or were pre-registered for DuitNow are already eligible for the contest and can proceed to earn contest entries by sending money.
Visit duitnow.my or your preferred bank for more information.
About Payments Network Malaysia Sdn Bhd (PayNet)
PayNet is Malaysia's premier payments network and central infrastructure for financial markets. It innovates, builds and operates world-class payment systems and financial market infrastructures that safely, reliably and efficiently enable the functioning and development of Malaysia's financial system as well as the economy as a whole. Bank Negara Malaysia (BNM) is PayNet's single largest shareholder, with 11 Malaysian's banks as joint shareholders. For more details, visit paynet.my.