KUALA LUMPUR, July 30 (Xinhua) -- Global money transfer platform Wise has gained direct access to Malaysia's national payments infrastructure operated by Payments Network Malaysia (PayNet), enabling users to make payments through DuitNow QR and simplifying ringgit transfers.
Malaysia is the ninth market globally and fifth in Asia-Pacific where Wise has connected directly to a domestic payment system, as the company expands its global payments network, Wise said in a statement on Thursday.
The integration allows Wise users to scan and pay DuitNow QR codes directly through the Wise app, with the feature being rolled out progressively nationwide.
Users can also make DuitNow transfers using a recipient's mobile number or National Registration Identity Card, with recipient verification to help reduce errors.
Wise said direct connections to local payment systems help reduce reliance on traditional intermediaries, lowering costs and improving transaction speeds. ■