CIMB announced that merchants can continue to enjoy the 0% transaction fee discount when using DuitNow QR to collect payments, which means no additional fees will be charged.
According to a statement issued by CIMB Bank (CIMB), the bank will not charge transaction fees to merchants when they use DuitNow QR to collect payments. This measure will continue until December 31, 2023.
Previously, DuitNow service provider PayNet announced that it will charge a transaction fee of 0.25% to 0.50% on the sales price collected using DuitNow QR from November 1, 2023. However, banks can absorb the fee on their own and exempt merchants from transaction fees. .
In addition to CIMB Bank’s announcement to suspend the DuitNow QR transaction fee from merchants, Public Bank has also announced to suspend the fee from merchants. At present, RHB has sent emails to merchants stating that DuitNow QR transaction fees will be levied on merchants starting from November 1.
The news that DuitNow QR will begin to collect transaction fees has been criticized by the public, because this will undoubtedly increase the burden on small merchants and will also lead to the regression of the domestic cashless payment trend.
