DuitNow QR payment transaction fee will not burden low-income group, says Anwar

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said on Friday (Sept 29) that the imposition of a transaction fee for payments made via DuitNow QR and transactions conducted with credit cards will not burden the low-income group in the country.

Anwar, who is also Finance Minister, said he had met Bank Negara Malaysia (BNM) Governor Datuk Shaik Abdul Rasheed Abdul Ghaffour yesterday to get clarification on the matter.

"I discussed with the BNM Governor yesterday. According to him, it (transaction fee) will not be imposed on the lower group.

"What is important is that it will not burden the low-income group,” he told reporters after visiting the ‘Postnormal Times’ exhibition at the KL Jazz and Arts Centre here.

Yesterday, Payments Network Malaysia Sdn Bhd (PayNet) confirmed that a transaction fee will be imposed on vendors for payments received through the DuitNow QR platform and transactions conducted with credit cards effective Nov 1, 2023.

However, the 50 sen fee will be charged for transactions exceeding RM5,000 involving peer-to-peer fund transfers from one personal QR to another personal QR, not payments to merchants.

Asked about MCA president Datuk Seri Dr Wee Ka Siong’s suggestion that the transaction fee be abolished, Anwar said this matter should be handled by BNM. - Bernama