BNM Interoperable Fund Transfer Framework (DuitNow, QR and RPP)

On 30 June 2026 Bank Negara Malaysia issued the Interoperable Fund Transfer Framework, which took effect the same day and replaces the Interoperable Credit Transfer Framework of 2019. It applies to banks, Islamic banks, development financial institutions, issuers of designated payment instruments, payment system operators and merchant acquirers. It requires the operator of the shared payment infrastructure to run an interoperable network with an interoperable QR code and open, risk-based access, and requires banks and eligible e-money issuers to participate, enable account-to-account transfers and QR purchases with customers of any participant, and offer eligible domestic transfers of up to RM5,000 free of charge. Banks, eligible e-money issuers and acquirers must stop offering proprietary QR schemes and fully phase them out by 30 June 2028, with no new merchants onboarded in the meantime.

This one-day course is for payments product, operations, compliance, risk and merchant acquiring teams at banks, e-money issuers and acquirers, and for fintechs seeking access to the shared infrastructure. It explains the framework's requirements on the infrastructure operator, on participants and on acquirers, the new consumer protection obligations such as instant transaction notifications and online limit management, and the transition dates, including cross-border services whose timing BNM will set when the Nexus scheme goes live. Technology obligations for the same regulatees are covered in BNM Technology Requirements for Payment Services.

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