Public Bank enables QR cross-border payment convenience between Malaysia with Indonesia and Thailand

PETALING JAYA: Businesses and consumers can now make instant payments using DuitNow QR cross-border payment between Malaysia with both Indonesia and Thailand using Public Bank’s PBe QR Service.

This would allow Public Bank customers travelling abroad to transact conveniently with merchants in Indonesia and Thailand using Public Bank’s mobile banking application PB engage, while customers from Indonesia and Thailand can comfortably use their home countries’ banking accounts to pay merchants in Malaysia.

“With the Malaysian government looking to open its international borders by March, the convenience of using cross-border payment and DuitNow QR linkage with both Indonesia and Thailand will further encourage economic activities with these nations,” said Public Bank managing director and CEO Tan Sri Tay Ah Lek.

This initiative marks a new milestone since Public Bank’s launching of the nation’s first DuitNow QR cross-border payment acceptance in June 2021 to facilitate international QR payment from Thailand and subsequently from Indonesia.

Developed in collaboration with Payment Network Malaysia Sdn Bhd (PayNet), Tay said the cross-border QR payment linkage will also further Public Bank’s efforts to provide greater financial inclusion as part of Public Bank’s environmental, social and governance efforts.

“Businesses of all sizes including micro, small and medium enterprises (MSME) can now accept payments efficiently and securely with cashless payments that are cost effective. This will lower the barrier of doing business for MSME as Asean borders gradually reopen. Meanwhile, for retail customers, apart from having a more convenient and safer option to make payment, they will also enjoy better foreign exchange rates. Hence, customers will get better value from their spending, contributing to a win-win solution for all,” Tay said.

Accelerating the usage further, Public Bank has been waiving the transaction fees for both retail customers and its PBe QR merchants – including cross-border QR payments to and from Indonesia and Thailand until Dec 31.