- Advertisement -

Bank Negara told me QR fee won't burden low-income group, says Anwar

The prime minister says the governor of the central bank explained the matter to him in a meeting yesterday.

Staff Writers
1 minute read
Prime Minister Anwar Ibrahim. Photo: Bernama
Prime Minister Anwar Ibrahim. Photo: Bernama

Prime Minister Anwar Ibrahim said today that the imposition of a transaction fee for DuitNow QR payments and credit card transactions will not burden low-income group in the country.

Anwar, who is also the finance minister, said he met with Bank Negara Malaysia (BNM) governor Shaik Abdul Rasheed Abdul Ghaffour yesterday to seek clarification on the matter.

"I discussed this with the BNM governor yesterday. According to him, the transaction fee will not be imposed on the lower-income group.

"What is important is that it will not burden low-income group," he told reporters.

Yesterday, Payments Network Malaysia Sdn Bhd, or PayNet, confirmed that vendors will be charged a transaction fee for payments received via the DuitNow QR code platform from Nov 1.

An RM0.50 fee also applies to peer-to-peer fund transfers exceeding RM5,000 between personal QR codes, not payments to merchants.

Responding to a demand by MCA president Wee Ka Siong to abolish these transaction fees, Anwar said the matter should be addressed by BNM.