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Public Bank is the first Malaysian bank to facilitate retail-based QR payment with Thailand

Public Bank QR payment_IFM_Image
PBe QR service will now support DuitNow QR Cross Border Payment between the two countries

Malaysia-based Public Bank becomes the first bank in the country to facilitate retail-based QR payment between Thailand and Malaysia, media reports said. The bank has now extended its PBe QR service to support DuitNow QR Cross Border Payment between both countries.

In a statement, the bank said that it will pave the way to enabling transactions with more ASEAN countries in the near future when the borders reopen post-pandemic and to foster close collaboration with Payment Network Malaysia Sdn Bhd (PayNet).”

Public Bank managing director Tan Sri Tay Ah Lek told the media, “PBe QR, on top of the existing domestic DuitNow QR payment services will be a catalyst to this, providing simple, cost-effective and secure solution to enable MSMEs to accept cashless payments.

“We are supportive of the nation’s push towards digitisation of various banking services and the creation of a financially inclusive society. With the increasing use of smartphones for banking, we are getting there and will continue to deliver the most efficient and convenient payment services for our customers.”

Last week Public Bank announced its net profit for the second quarter of 2022. The bank posted a net profit of RM1.38 billion for the period, which is a 38.4 percent increase from a year ago.

It further revealed that its revenue increased by 3.8 percent year-on-year to reach RM4.92 billion from RM4.74 billion. During the first half of 2021, the bank’s net profit rose by 25 percent to RM2.91 billion.

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