A guide to DuitNow and how it works (2025)

Key takeaways

• DuitNow is an instant money transfer service that allows individuals and businesses to send and receive payments via mobile numbers, NRICs, and business registration numbers.

• While DuitNow is widely adopted across Malaysia for domestic transfers, its cross-border capabilities are limited to Singapore and available only via a few participating banks.

• While DuitNow is built for domestic transfers in Malaysia, Airwallex is an all-in-one financial platform that goes further – letting you send, receive, and accept payments in 120+ countries, avoid SWIFT fees with local transfers, and support DuitNow and 160+ other local payment methods, all from a single platform.

Across Malaysia, cash is no longer king. Whether you’re shopping at a Ramadhan bazaar or paying for your shop’s monthly rent, you’ve likely used DuitNow. It’s fast, supported by most banks, and works with e-wallets and mobile numbers.

Over two million merchants now use DuitNow for transfers, QR payments, or payment requests.¹ From small businesses to national retailers, it’s become the go-to for instant, cashless payments.

But if you’re looking to pay international suppliers, make cost-effective international money transfers, or collect in multiple currencies, you’ll need more than local payment infrastructure. In this guide, we’ll explain how DuitNow works, where it fits, and how Airwallex can support your business locally and globally.

What is DuitNow?

DuitNow is a Malaysian payment solution that allows you to send money instantly across banks and e-wallets. Launched in 2018 by PayNet, Malaysia's national payments network, DuitNow has quickly become a popular alternative to cash payments in Malaysia.

Similar to PayNow in Singapore or VietQR in Vietnam, DuitNow offers a fast, convenient way to send and receive money to both individuals and businesses. While primarily used for domestic payments, DuitNow also supports cross-border transfers between Malaysia and Singapore through selected banks.

How to use DuitNow to send and receive money?

DuitNow offers several different financial solutions for you to choose from: 

• DuitNow Transfer:  Allows money to be sent instantly to other businesses

• DuitNow QR: Allows you to accept payments from locally-registered banks and e-wallets like GrabPay and Touch ‘n Go (TNG) via QR code

• DuitNow Request: Allows you to request payments from others (available for users of selected banks only)

DuitNow Transfer

DuitNow Transfer works by linking your recipient’s mobile number, business registration number, or other unique identifiers to their bank account.² This ensures your payments are sent directly to their account. Transfers arrive instantly, so your vendors and providers will get money in their account right away.

Steps to create and complete a new transfer with DuitNow:

1. Log in to your banking app or online banking account

2. Tap the DuitNow Transfer option

3. Enter the details of your recipient's DuitNow ID

4. Enter the amount

5. Review and tap confirm to transfer money to your recipient’s account on DuitNow

Most Malaysian banks and financial institutions offer DuitNow, making it widely accessible for businesses. Individual transfers are usually free, but business payments or amounts over RM5,000 may come with service fees.

Most banks cap DuitNow business transfers at RM10 million per transaction, but limits vary depending on your provider. To avoid any confusion, always check with your bank for details regarding applicable DuitNow fees and limits.

Cross-border fund transfer

Currently, DuitNow only supports cross-border money transfers with Singapore through its partnership with PayNow, Singapore's own real-time payment system for individuals and businesses.³

Even then, you can only send and receive payments across borders from six participating banks and providers, such as Maybank and CIMB, with a transaction limit of RM3,000 per day.

For businesses managing international operations or looking to grow beyond Malaysia, Airwallex offers a faster, more cost-efficient solution. With FX & Transfers, you get access to our proprietary local payment rails in 120+ countries, allowing you to send funds abroad without SWIFT fees. The best part? 95% of transactions arrive ‌as fast as one business day, with full amount on delivery guaranteed. 

DuitNow Request

DuitNow Request lets you send a payment request from your banking app, no invoices or account numbers needed. However, while it can be used for both personal and business payments, the service  is currently only supported by selected banks. 

Steps for receiving payment via DuitNow Request: 

1. Log in to your banking app and select DuitNow

2. Enter the payer’s DuitNow details

3. Input your payment details and specify the amount you’re requesting

4. Review and confirm the request

5. Once confirmed, the payer will receive a bank notification to process the request

Businesses can request up to RM10 million per day. For individuals, the daily cap is RM50,000. These limits may vary depending on the bank or e-wallet.⁴

DuitNow QR

DuitNow QR gives you one code to accept payments from dozens of local banks and e-wallets, without juggling different apps or accounts.

By setting up DuitNow QR in your store, you make it easy for customers using any participating bank or e-wallet to make payments quickly and securely. You can also use DuitNow QR to pay your vendors and service providers.

Note: A small percentage of the transaction amount known as the Merchant Discount Rate (MDR) – may be deducted from each transaction. The exact MDR may vary depending on your bank or e-wallet.⁵

Steps to complete a payment with DuitNow:

1. Open your mobile banking app or e-wallet

2. Scan your merchant's or recipient's QR code

3. Enter the payment amount 

4. Confirm the details and authorise the payment on DuitNow

Transfers are capped at RM10 million, though actual limits may vary by bank or provider. Be sure to check with your provider for their specific limits.

Cross-border QR payment

With DuitNow QR, shoppers from Indonesia, Singapore, Thailand, and Cambodia can pay by simply scanning your DuitNow QR code with their local banking apps.⁶ Payments are made in MYR, so you can collect money directly in your local currency. 

With Airwallex Checkout, you can not only accept payments via DuitNow and 160+ other local payment methods, but also settle funds like-for-like in 14 major currencies. For example, if your customer in Singapore pays you in SGD, you’ll receive your payment in SGD. That means no forced FX conversion to MYR, so you keep more of what you earn while providing a more seamless payment experience for customers.

How to register for DuitNow 

You can start sending money via DuitNow Transfer or use DuitNow QR without setting up a DuitNow account. All you need to do is link your bank account through your banking app. However, to collect money through DuitNow Transfer, a one-time registration is required to link your bank account with your phone number, National Registration Identity Card (NRIC), business registration number, or other unique identifiers. 

Steps to register your DuitNow ID

1. Log in to your bank's mobile banking account and select DuitNow

2. Link your bank account to a unique identifier 

3. Verify your details to register your account

Once your DuitNow account is activated, you can start sending money right away with just your recipient’s phone number, IC number, or business registration number. Your customers can also instantly make payments to you using the same unique identifiers. 

Pros and cons of using DuitNow

With broad local adoption and its intuitive features, DuitNow makes it easy for businesses in Malaysia to send and receive money quickly and securely. That said, it may fall short for businesses with international needs or more complex payment setups. 

Here are some of the advantages and disadvantages of DuitNow:

Pros

• Encourages checkout: DuitNow allows customers to make payment using just their phone number or QR code, making checkout faster and easier. 

• Fast and efficient: The service supports instant transfers between participating banks and e-wallets, making it convenient for urgent or time-sensitive cases. 

• Simple setup: DuitNow is known for its relatively fuss-free onboarding process for individuals and businesses. 

• Wide local coverage: DuitNow is widely accepted by 50+ banks and e-wallet providers across Malaysia. 

• Strong security measures: Transactions made using DuitNow are protected by two-factor authentication and data encryption.

Cons

• Limited international coverage: Being primarily designed for domestic use, DuitNow has limited cross-border functionalities. 

• Variable transaction limits: Daily transaction caps and fees differ by bank, limiting the number of large transactions you can make in a day. 

• Online integration complexity:  While in-store setup is relatively straightforward, integrating DuitNow into a payment gateway for eCommerce sales may require technical expertise in API development to get everything up and running smoothly.⁷

Scale faster with Airwallex’s global payments platform 

DuitNow is a convenient solution for everyday domestic transfers in Malaysia, but its limited cross-border coverage makes it less suited for businesses with regional or international operations and growth ambitions.

Airwallex, on the other hand, is built to help businesses with international payment needs. With our platform, you can send money to over 200 countries in 60+ currencies at market-leading FX rates – with no hidden fees. And because 90% of transfers run on our local payment rails, you skip the delays and high costs of traditional SWIFT payments.

This has delivered real results for companies like Endowus, a leading wealth management platform in Southeast Asia that uses Airwallex to pay its overseas entities, vendors, and employees. Since making the switch, payments are now processed faster, with all global entities visible in a single dashboard – making cash flow allocation easier and more transparent across markets.

Airwallex also offers powerful, versatile solutions for businesses with sights set beyond its shores.  With our payment gateway, you can accept payments in 160+ currencies from customers in 180+ countries, then settle in your preferred currency. No forced conversions or hidden fees – just more control over your cash flow and options for your customers. 

These features come as part of an all-in-one suite of financial tools designed to support your global expansion. Whether you’re paying international suppliers, running global payroll, or collecting across markets, Airwallex makes it easier to manage everything from one place, so you can focus on what truly matters – growing your business. 

Sources:

1. https://fintechnews.my/48675/payments-remittance-malaysia/malaysia-ranks-second-in-global-qr-code-payments/ 

2. https://www.duitnow.my/Transfer/index.html 

3. https://www.duitnow.my/Cross-Border/fund-transfer.html 

4. https://www.duitnow.my/Request/index.html 

5. https://www.duitnow.my/QR/index.html 

6. https://www.duitnow.my/Cross-Border/index.html 

7. https://docs.developer.paynet.my/docs/duitNow-online-banking-wallets/integration/overview 

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).