DuitNow is Malaysia's national real-time payment platform, operated by Payments Network Malaysia (PayNet). It allows instant fund transfers between banks and e-wallets using proxy identifiers — like a mobile number or national ID — instead of a full bank account number. Launched in 2018, it has become the backbone of domestic digital payments in Malaysia.
DuitNow works by linking your bank account or e-wallet to a proxy ID — typically your Malaysian mobile number (starting with 01x), NRIC (national ID), passport number, army ID, or business registration number. When someone wants to pay you, they enter your proxy ID instead of a bank account number. PayNet's directory resolves the proxy to the correct account in real time, and the funds arrive within seconds. This eliminates the risk of mistyping long account numbers and works across all participating banks and e-wallets on a single network.
DuitNow has two main products. DuitNow Transfer is the account-to-account instant payment described above — used for P2P transfers, bill payments, and business payouts. DuitNow QR is Malaysia's standardized QR payment code, based on the EMVCo standard, accepted at merchants nationwide. Both run on the same underlying PayNet infrastructure. DuitNow QR replaced the older FPX QR system and is now accepted at virtually all Malaysian retail checkout points, from convenience stores to hawker stalls.
DuitNow itself only processes ringgit (MYR) transfers within Malaysia — it is a domestic rail, not a cross-border network. However, it is the final delivery mechanism for money arriving in Malaysia from abroad. When a sender in the US, UK, or Middle East sends money to a Malaysian recipient via Wise, a crypto rail, or another provider, the funds are typically delivered into a Malaysian bank account that is linked to DuitNow. This means recipients can access incoming remittances instantly via their DuitNow-linked mobile banking app once the funds arrive at the local bank.
Most Malaysian banks and e-wallets offer free DuitNow Transfer for personal use, with limits typically ranging from MYR 50,000 to MYR 100,000 per transaction depending on the bank. Business accounts may have higher limits. DuitNow QR payments are also free for consumers; merchants pay a small MDR (Merchant Discount Rate) set by Bank Negara Malaysia, capped at 0.5% for micro-merchants. There are no hidden FX markups since DuitNow only handles MYR transactions — any currency conversion happens at the remittance provider level before funds arrive.
DuitNow is used for instant fund transfers between Malaysian bank accounts and e-wallets, merchant QR payments, bill payments, and business disbursements. It is Malaysia's primary real-time payment rail for domestic MYR transactions.
No. FPX (Financial Process Exchange) is Malaysia's online banking payment gateway, mainly used for e-commerce and bill payments where the merchant initiates the debit. DuitNow is a push-based instant transfer system where the sender initiates payment using a proxy ID or QR code. Both are operated by PayNet but serve different use cases.
Not directly. DuitNow only processes MYR transfers within Malaysia. However, money sent from abroad lands in your Malaysian bank account, and once there it is accessible via DuitNow like any other ringgit balance. Providers like Wise typically deliver directly to Malaysian bank accounts, which are DuitNow-linked.
Major Malaysian e-wallets including Touch 'n Go eWallet, GrabPay, Boost, ShopeePay, and MAE (Maybank) support DuitNow transfers and QR. Coverage has expanded significantly since Bank Negara Malaysia mandated interoperability between licensed e-money issuers.
You can register your Malaysian mobile number, NRIC (MyKad), passport number, army/police ID, or business registration number as a DuitNow proxy. Most people use their mobile number since it is the easiest to share with others.
Yes. DuitNow is regulated by Bank Negara Malaysia and operated by PayNet, which is owned by Bank Negara and Malaysia's major commercial banks. Transfers are authenticated through your bank's own security layer (biometrics, TAC codes). Proxy ID registration prevents payments to the wrong account as long as you verify the recipient name shown before confirming.
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