HSBC Malaysia Introduces DuitNow Request for Businesses and Companies

HSBC Malaysia recently launched the DuitNow Request feature for businesses that allows companies to improve the collection of recurring payments from clients. This feature is a secure and real-time payment service that enables companies to take full control of their payments. 

With DuitNow Request, companies no longer need to constantly follow up with customers who are not making their payments on time.

Helps businesses to go digital

The DuitNow Request will serve as an extension of the current Payments Network Malaysia's (PayNet) DuitNow ecosystem that allows local companies to conduct transactions using their Business Registration Number (BRN.

According to the bank, this new feature aims to benefit businesses of any size across diverse industry segments. It would assist them with digitising and transforming their collections process by making it seamless and more convenient. 

HSBC Malaysia also said that they are one of the first banking institutions in this country to provide this type of service for local companies via a simple 3-step process that enables businesses to collect payments from multiple clients at one go:

• Step 1: Send a Duitnow Request instruction via HSBC to the client.

• Step 2: The client receives a notification on their internet banking platform or mobile app and approves the Request.

• Step 3: Funds will be credited instantly to the business account.

Source: HSBC Malaysia

Digital payment made easier

Following the pandemic, companies in Malaysia have accelerated their efforts in digitisation. Various fintech companies are focused on creating accessible and innovative payment solutions for consumers and businesses.

In May 2021, Boost announced that it is now a part of the PayNet Real-time Retail Payment Platform (RPP) and confirmed that it had adopted DuitNow QR.

In Malaysia, DuitNow QR is the national QR code standard. It serves as a standardised QR code that provides a contactless, cashless and seamless method of shopping for e-wallet users, including those who do not use the Boost platform. 

This new feature is also available to Boost merchants. One will only need a single QR Code to take cashless payments from customers of any participating e-wallets in the PayNet ecosystem. It would also help merchants gain access to a more extensive mobile-first user base.

Boost users can also make use of a larger merchant reach using DuitNow QR to make payments while claiming Boost's loyalty reward points. 

Boost's latest offering would help users to transact safely in the post-Covid environment.

Click here to Post Job for 30 Days + Get Extra 30 Days >> https://bit.ly/3572wfO
If you have any questions, please feel free to Whatsapp us at 018 966 6610 / Click Here >> https://bit.ly/3xcII6G

Articles that might interest you 
PM Announces Ease of Restrictions for Fully Vaccinated People
Unemployment Rate Increases for the First Time in Four Months
TEKUN Is Launching New Financing Schemes for Micro SMEs