Two major banks putting off charge for DuitNow QR payments

New rules: PayNet said debit and credit card payments were subjected to MDR, while there is currently a MDR waiver for QR payments. — SHAARI CHEMAT/The Star

PETALING JAYA: Several financial institutions, including Public Bank and CIMB, have announced a waiver of the merchant discount rate (MDR) for vendors accepting payments via the DuitNow QR code platform.

CIMB has decided to postpone the MDR until the end of the year, while Public Bank will maintain the waiver until further notice.