Alp Capital, a supply chain financing company, today (June 6) announced that in collaboration with AmBank, it has launched a dynamic DuitNow QR payment channel that is integrated with cloud-based point-of-sale (POS) system, Xilnex. The integrated DuitNow QR accepts payments in ringgit and selected cross-border currencies.
The new POS integrated DuitNow QR feature is provided to all of Xilnex’s existing and new customers with no setup fee, apart from the normal transaction-based merchant discount rate (MDR). By automating the generation of a DuitNow QR that specifies the exact amount of each sale transaction, it not only expedites payment but also reduces the risk of fraud and inaccuracy that comes with having retail customers manually key in a figure for payment.
Retail staff no longer need to manually verify that the correct amount is paid by each customer, resulting in higher security. In addition, time spent to reconcile POS transactions with payments received separately through e-wallets can be greatly reduced due to the integration of the POS system with the DuitNow QR.
Alp Capital and AmBank will hold a joint marketing campaign in June 2023 that will run until 31 December 2023, with cash prizes to be rewarded to the top 3 DuitNow merchants with the highest transaction value and top 3 DuitNow merchants with the highest number of transactions. Each merchant must have a minimum transaction value of RM10,000 throughout the campaign period to qualify.