Malaysia is a market where the central bank, BNM, has strongly pushed payment standardization, unifying the QR codes that banks and e-wallets previously used separately into a single DuitNow QR. As a result, consumers can pay with the same QR code regardless of which bank app or wallet they use, and a merchant can reach essentially the entire population's bank account and wallet users through a single scheme integration. Another advantage is that, because it runs on national infrastructure rather than any single private operator, its acceptance isn't tied to the fortunes of any individual wallet.

This method suits merchants who want to reach both bank-app users and wallet users at once, especially mobile-centric services that need to reduce drop-off at the payment step, such as digital content, online bookings, and small recurring purchases. If you want fast, confirmed approval through real-time transfer without being tied to a single wallet, it's common to prioritize DuitNow and combine it with FPX or individual wallets as complements.

When a consumer scans the DuitNow QR shown on the payment screen with their bank app or e-wallet, or pays via a registered ID-based transfer such as a phone number, funds move from the account in real time and the approval result is confirmed immediately. The payment arises in ringgit, and Hecto Financial receives it locally before paying the Korean merchant in the currency set in the contract among USD, KRW, and JPY.

A Korean business can consider accepting DuitNow through Hecto Financial integration alone, without a separate partnership with individual PayNet participant institutions. Because support conditions vary by industry and transaction volume, the settlement cycle, fees, and currency options must be finalized before the contract is signed.

• Business registration country

  Confirm eligibility to contract as a business registered in Korea

• Sales channels

  The integration method varies depending on whether you are online-only or also include physical stores in Malaysia

• Product categories

  Check in advance whether your products fall under restricted categories per DuitNow's merchant policy

• Local regulatory compliance

  Confirm compliance with Malaysia's payment and foreign exchange regulations (see official sources below)

Settlement follows a 'receive locally, then convert' structure. Hecto Financial receives the ringgit funds paid by the Malaysian consumer, converts them, and deposits them into the Korean merchant's account in the currency selected in the contract among USD, KRW, and JPY. The payout cycle and fees follow the contract terms, and because of the nature of real-time transfers, refunds are processed as a separate return transfer rather than an automatic cancellation, so it's safer to confirm the processing timeline and procedure in advance.

• Bank Negara Malaysia / PayNet (Payments Network Malaysia) — national payment network operatorOfficial information on Malaysia's payment systems and related regulations. If the content of this page differs from actual regulations, the official source takes precedence.