For those who have been using DuitNow will know that the service allows instant transfer to desired persons over online bank accounts, however for business usage this service was yet to be available until now. HSBC Malaysia will be the first bank in Malaysia to launch DuitNow Request for businesses which is a secure, real time payment service that allows all businesses to control their payments especially when it comes to streamlining the collection of repetitive payments from multiple customers.
This new solution, will eliminate the time consuming and labour intensive follow-ups to customers who fail to make their daily/monthly payments on time. Another benefit of this solution is that it can be scaled to meet the needs of both small and large businesses across different industries. By using a simple 3-step process, Duitnow Request enables businesses to collect payments from multiple customers at one go. Customers need to just send a Duitnow Request instruction via the bank account to their customer, once they receive the notification and approve the request funds will be credited instantly.
DuitNow Request is an extension of Payments Network Malaysia’s (PayNet) DuitNow ecosystem which was developed to simplify the payments journey by using mobile number or MyKad number. Shayan Hazir, Country Head of Global Liquidity and Cash Management, HSBC Malaysia added that the aim of the bank is to support the customers by providing them with access to payment and collection services that are innovative, intuitive and powerful to help them navigate through these challenging times.
The DuitNow Request feature for businesses, is industry agnostic. What this means is that it can be used by all types of businesses including insurance providers and retailers to help them transform and digitise their collections by making it more seamless and convenient.