{"id":667595,"date":"2026-07-01T08:25:10","date_gmt":"2026-07-01T08:25:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/667595\/"},"modified":"2026-07-01T08:25:10","modified_gmt":"2026-07-01T08:25:10","slug":"bnm-sets-june-2028-deadline-for-one-qr-code-across-all-banks-and-e-wallets","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/667595\/","title":{"rendered":"BNM Sets June 2028 Deadline for One QR Code Across All Banks and E-Wallets"},"content":{"rendered":"<p>Free Newsletter<\/p>\n<p>Get the hottest Fintech Malaysia News once a month in your Inbox<\/p>\n<p>Bank Negara Malaysia (BNM) has set a 30 June 2028 deadline to phase out fragmented proprietary QR payment networks.<\/p>\n<p>The move falls under <a href=\"https:\/\/www.bnm.gov.my\/documents\/20124\/943361\/pd_IFTF_June2026.pdf\" target=\"_blank\" rel=\"noopener nofollow\">BNM\u2019s new interoperable fund transfer framework<\/a>, which is designed to keep Malaysia\u2019s payment systems connected as digital transfers and QR payments become more widely used.<\/p>\n<p>Issued on 30 June 2026, the framework applies to banks, Islamic banks, development financial institutions, e-money issuers, payment system operators and merchant acquirers.<\/p>\n<p>&#13;<\/p>\n<p>   <a href=\"https:\/\/bit.ly\/4uPZfes\" target=\"_blank\" rel=\"nofollow noopener\">&#13;<br \/>\n<img loading=\"lazy\" decoding=\"async\" border=\"0\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/07\/Webinar-LNRS-No-Speaker-5.webp\" width=\"600\" height=\"500\"\/><\/a><br \/>\n&#13;<\/p>\n<p>What Changes for QR Payments in Malaysia<\/p>\n<p>Banks and eligible e-money issuers that use shared payment infrastructure must support interoperable QR payments.<\/p>\n<p>This will allow consumers to pay merchants across participating financial institutions instead of being limited to separate networks.<\/p>\n<p>Merchant acquirers must also allow merchants to accept payments from customers of any financial institution participating in the same shared infrastructure.<\/p>\n<p>Existing proprietary QR code scheme networks must be fully phased out by 30 June 2028.<\/p>\n<p>During the transition period, affected financial institutions must stop onboarding new merchants under these proprietary QR schemes.<\/p>\n<p>Cross-Border Payment Links<\/p>\n<p>The framework also covers account-to-account transfers and cross-border payment services.<\/p>\n<p>Requirements for cross-border account-to-account and QR payments will follow the launch timeline of the <a href=\"https:\/\/fintechnews.my\/44799\/payments-remittance-malaysia\/bis-led-project-nexus-completes-phase-3-blueprint-for-cross-border-instant-payments\/\" target=\"_blank\" rel=\"noopener nofollow\">Nexus scheme<\/a>, which BNM will announce later.<\/p>\n<p>The framework is intended to promote fair and open access to shared payment infrastructure while maintaining the safety and reliability of fund transfer services.<\/p>\n<p>Financial institutions must offer eligible domestic fund transfers of up to RM5,000 for free to financial consumers when the transfer is funded through a current account, savings account or e-money account.<\/p>\n<p>The policy also sets consumer protection requirements, including online transaction limit controls, instant transaction notifications, real-time balance checks, clear pricing disclosures, data protection and safety alerts.<\/p>\n<p>The new interoperable fund transfer framework replaces the Interoperable Credit Transfer Framework issued in December 2019.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Featured image: Edited by Fintech News Malaysia, based on image by <a href=\"https:\/\/www.magnific.com\/premium-photo\/closeup-hand-holding-phone-scanning-qr-code-qr-code-payment-cash-technology-concept_21386355.htm\" target=\"_blank\" rel=\"noopener nofollow\">besphotographer<\/a> via Magnific<\/p>\n","protected":false},"excerpt":{"rendered":"Free Newsletter Get the hottest Fintech Malaysia News once a month in your Inbox Bank Negara Malaysia (BNM)&hellip;\n","protected":false},"author":2,"featured_media":667596,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[223547,2306,86,56,54,55],"class_list":["post-667595","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-bank-negara-malaysia-bnm","tag-mobile","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/667595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=667595"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/667595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/667596"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=667595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=667595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=667595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}