Malaysia's AmBank, Alp Capital unveil point-of-sale QR payment for retailers

The new feature reduces the time spent reconciling transactions and e-wallet payments separately.

Malaysia’s AmBank and financing company AlpCapital partnered up to launch DuitNow QR, a payment channel integrated with point-of-sale (POS).

Through Xilnex, the POS-integrated QR will accept payments in ringgit and some cross-boundary currencies.

DuitNow QR allows instant mobile payments for tourists and Malaysians abroad. 

Users from Indonesia, Thailand, and Singapore can scan the DuitNow QR at participating merchants in Malaysia using their e-wallet or banking app. 

Similarly, Malaysians abroad can make payments by scanning the participating merchant's code in these countries.

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Xilnex provided the new QR feature to both existing and new customers at no setup fee. 

The feature automates the generation of a DuitNow QR for each sale transaction, eliminating the need for manual entry by customers and reducing fraud and inaccuracies. Retail staff no longer have to verify payment amounts, leading to increased security. 

Furthermore, the integration of the POS system with DuitNow QR reduces the time spent reconciling transactions and e-wallet payments separately.

“By enabling the cross-border DuitNow QR acceptance by retailers here, it will further increase the volume of international transactions by foreign tourists, giving the consumers more secure options for cashless payments and for retailers, more efficient and seamless collections.” said Group Chief Executive Officer of AmBank Group, Dato’ Sulaiman Mohd Tahir.