PETALING JAYA: Public Bank has launched a new secured online payment solution DuitNow Online Banking/Wallets in January this year to support the cashless economy.
The feature supports e-commerce transactions facilitating real-time payment acceptance via online banking and e-wallets through simple redirection.
Public Bank managing director and CEO Tan Sri Tay Ah Lek stated that the service is in line with customers’ demand for convenience and security.
“Public Bank also prioritises environmental, social, and governance efforts by providing greater financial inclusion for the unbanked in addition to enabling online merchants to easily accept payments in real-time through this new, cost-effective, and secure online payment solution,” he said in a statement today.
On the subject of internet and mobile banking, Payments Network Malaysia Sdn Bhd (PayNet) group CEO Peter Schiesser observed that payments in this channel has seen a dramatic upsurge in the last two years.
“With this in mind, DuitNow Online Banking/Wallets was designed to elevate the user experience through a more seamless checkout process with the option of application-to-application payment redirection which significantly reduces payment friction and cart abandonment,” he said.
DuitNow is powered by PayNet, the national payments network and shared central infrastructure for Malaysia’s financial market.
This new service will extend PayNet’s DuitNow ecosystem to include other digital wallets while maintaining compatibility with participating financial institutions.