Public Bank will be the 1st bank to launch their pilot QRPay system based on Paynet QR, publicly called #DuitNowQR. Paynet (Payments Network Malaysia) is a subsidiary of Bank Negara Malaysia (Central Bank).
How this differs from other bank's QRPay is Paynet's QRPay format will be standardized across all banks. Eventually Maybank and CIMB will have to change their QRPay to be based on the standardized Paynet QR Pay.
In conjunction with launch, Public Bank is partnering with Pai Kingdom on their QRPay, the Pai Kingdom outlet will be able to accept Public Bank QRPay. Pai Kingdom is a cafe at Bangsar South, which is within the Paynet building in Bangsar South.
Public Bank QRPay is available on their new Mobile banking app called PBEngage 2.0, the existing Mobile banking app called PBEngage will not have QRPay feature and will be eventually retired.
The launch was held at Pai Kingdom outlet at Bangsar South and the VIP attendees were members of media, Public Bank MD Tan Sri Dato Sri Tay Ah Lek and Paynet MD Peter Schiesser.
On a more related note to stock investing, the vendor behind this DuitNow system, ACI Worldwide's stock which is listed on the NASDAQ, has been experiencing meteoric rise since getting the contract from Paynet.
https://www.paynet.my/news-coverage/2017/malaysia-contracts-with-aci-worldwide-for-real-time-payments-platform/
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| Photo Op Paynet MD with Public Bank MD |
Public Bank QRPay is available on their new Mobile banking app called PBEngage 2.0, the existing Mobile banking app called PBEngage will not have QRPay feature and will be eventually retired.
The launch was held at Pai Kingdom outlet at Bangsar South and the VIP attendees were members of media, Public Bank MD Tan Sri Dato Sri Tay Ah Lek and Paynet MD Peter Schiesser.
On a more related note to stock investing, the vendor behind this DuitNow system, ACI Worldwide's stock which is listed on the NASDAQ, has been experiencing meteoric rise since getting the contract from Paynet.
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| ACI Worldwide Share Price |
Source : https://news.ecinsider.my/2019/07/public-bank-first-to-soft-launch-duitnow-qr-malaysia.html?m=1
https://www.paynet.my/news-coverage/2017/malaysia-contracts-with-aci-worldwide-for-real-time-payments-platform/