With the concern over charges imposed when using DuitNow QR payment, both the Ministry of Domestic Trade and Cost of Living and Bank Negara will be discussing the matter at a Special Meeting of the Livelihood Action Council.
Deputy Minister Senator Fuziah Salleh said, “With 1.874 million users on the platform (for cashless transactions), imagine there are almost 1.9 million users who use this DuitNow, how much profit it will be for the bank”. The Ministry said it fears there will be an impact on consumers, the transaction charge for the use of the platform was feared to slow down the country’s digitisation program as formulated under the 12th Malaysia Plan (RMK12).
He said the Ministry had previously held the Retail Sector Digitisation Initiative Program (ReDI), to help small businesses in management, especially in making it easier for consumers when opting for digital payment methods. “We are worried about the traders (small and micro), it is already difficult for them to participate (ReDI program), we are worried that these traders will be affected (by transaction charges), and thus this may slow down the digitisation program as required by the government in RMK12 and could end up consumers absorbing the cost,” he said.
So far most major banks have agreed not to charge transaction charges for now.
