KUALA LUMPUR: RHB Banking Group (RHB) has become the first bank in Malaysia to integrate DuitNow QR via application programming interface (API) connectivity.
This will allow real-time integration of DuitNow QR transactions with a point of sale (POS) and mobile point of sale (MPOS)
system terminals to create a contactless payment experience between merchants and their customers.
Through this integration, all payments made using DuitNow QR are automatically captured and reconciled within the merchants' payment system, including those made via the terminal payment system.
This process automation allows merchants to improve digital and online efficiency. For example, they can collect instant payments without changing their payment process or the need to display tent cards or standee on their premises.
Merchants can also easily view their DuitNow QR transactions on their POS/MPOS while managing their outlets and cashiers on RHB Reflex Mobile App.
RHB head of group transaction banking Chung
Chee Kai said the prolonged Covid-19 pandemic and the need for physical distancing highlight the importance and benefits of contactless transactions.
By simplifying the payment process through
automation, he said RHB is making it easier and more convenient for merchants to manage their sales and their customers to complete their purchases without physical interaction.
"The RHB DuitNow QR is a handy tool for merchants as it universally accepts payments from all participating banks and e-Wallets.
"Therefore, merchants only need to display the RHB DuitNow QR to receive contactless payment from any of their customers via QR code," he said in a statement today.
RHB is currently providing DuitNow QR via API connectivity to flagship merchant partners, including Costa Coffee Retail Stores, The Chicken Rice Shop, DubuYo, and Sepiring nationwide.
"We are currently working with various POS/MPOS terminal providers for this API integration to ensure all our merchants nationwide can enjoy this facility.
"Our merchant transactions have been growing rapidly over the past year, seeing more than a ten-fold increase to approximately 120,000 transactions as at end-May 2021.
"With this API integration, we expect to onboard 30,000 new merchants by the end of the year," Chung said.
DuitNow QR via API connectivity further expands the capabilities of the RHB SME ecosystem, which includes the RHB Financing (SME) Mobile App and RHB SME Online Financing web portal powered by artificial intelligence, machine learning and big data capabilities in delivering versatile financial solutions to SMEs.
DuitNow QR is Malaysia's national QR code standard established by Payments Network Malaysia Sdn Bhd (PayNet), which promotes and encourages digital payments.
