A TRANSACTION fee for DuitNow QR payments is on the agenda when the National Action Council on Cost of Living meets on Tuesday, The Star reports.

Deputy Domestic Trade and Cost of Living Minister Fuziah Salleh said the prime minister will chair the special meeting attended by representatives of Bank Negara Malaysia.

“Some 1.874 million people use the DuitNow QR platform (for cashless transactions). How much is the bank (already) making (from that)?” she said in Malacca yesterday.

“We are worried that the (proposed) transaction fee will have a negative impact on (micro and small) traders and consumers,” she said.

Yesterday, Anwar Ibrahim said the low-income group would not be burdened by the transaction fee.

Anwar, who is also finance minister, said he had met with Bank Negara governor Shaik Abdul Rasheed Abdul Ghaffour for clarification on the matter.

“According to (the bank governor), it (the transaction fee) will not be imposed on the lower-income group.

On Thursday, Payments Network Malaysia Sdn Bhd (PayNet) confirmed that vendors would be charged a transaction fee for DuitNow QR payments effective November 1.

Some banks, including CIMB, Public Bank, Maybank and Hong Leong Bank and Hong Leong Islamic Bank, have since announced that they would waive the fee for now. 

Fees for DuitNow QR payments were waived in 2019 to encourage usage. The waiver was extended during  Covid-19 pandemic period. – October 1, 2023.