RHB Bank and PayNet Launch Cross-Border QR Payments for Malaysian Merchants

Quick Summary

RHB Bank has integrated with PayNet’s cross-border QR payment network, allowing Malaysian merchants to accept instant payments from tourists using e-wallets from China, Singapore, Indonesia, and more. This partnership simplifies international digital commerce and boosts tourism spending by removing currency friction at the point of sale.

How Does RHB Bank Enable Cross-Border QR Payments?

RHB Bank facilitates cross-border QR payment acceptance by integrating directly with PayNet’s regional ecosystem. This allows local businesses to accept payments from six major markets including China, South Korea, and Thailand. By utilizing the DuitNow QR standard, merchants can process transactions from foreign banking apps without needing additional hardware.

• Accepts e-wallets from China and Singapore.
• Supports South Korean apps and Indonesian wallets.
• Integrated with DuitNow QR Sound Box systems.

“As Malaysia welcomes more regional and international visitors, it is increasingly important for our merchants to offer payment experiences that are familiar, convenient and secure. Through our collaboration with PayNet, RHB merchants can now accept QR payments from participating overseas banking applications and e-wallets, making it easier to serve overseas customers using payment methods they already know and trust. At the same time, our customers continue to enjoy seamless cross-border QR payments across participating regional markets. This reflects RHB's commitment to advancing Malaysia's digital economy while strengthening regional payment connectivity,” said Nurjesmi Mohd Nashir, Managing Director of Group Wholesale Banking, RHB Bank Berhad.

What Benefits Does This Provide for Malaysian Merchants?

Boosting tourism revenue is the primary driver for this integration, especially ahead of the Visit Malaysia 2026 campaign. Merchants can now capture high-intent tourist spending by offering a checkout experience that mirrors the customer's home market. This reduces cart abandonment rates caused by cash-only requirements or unfamiliar payment terminals.

• Access to millions of tourists from regional neighbors.
• Elimination of currency exchange hurdles for shoppers.
• Faster transaction settlement times via digital rails.

“Expanding cross-border QR acceptance is a collaborative effort across the payments ecosystem and PayNet is pleased to work with RHB to help merchants better serve international visitors through familiar payment methods. As Visit Malaysia 2026 continues to drive tourism and cross-border spending, initiatives like this strengthen regional payment connectivity while creating greater opportunities for local businesses,” said Azrul Fakhzan B. Mainor, Chief Commercial Officer at PayNet.

How Does This Move the PROGRESS27 Strategy Forward?

The PROGRESS27 corporate strategy focuses on delivering seamless payment experiences and advancing Malaysia's digital economy. By reinforcing the national QR standard, RHB ensures that its infrastructure is ready for the next wave of regional financial integration. This move positions RHB as a leader in wholesale banking and digital innovation within the ASEAN region.

FF NEWS TAKE:

This integration is a significant win for cross-border QR payment adoption in Southeast Asia. While QR payments are ubiquitous locally, bridging the gap between national networks like DuitNow and international wallets is what truly moves the needle for merchant profitability. RHB’s proactive stance ahead of Visit Malaysia 2026 demonstrates a clear understanding of how digital infrastructure directly influences macroeconomic goals like tourism growth.