...Duitnow TransferIntroductionOverview

DuitNow Transfer

DuitNow Transfer

Overview

DuitNow Transfer is an instant credit transfer service designed for seamless integration into your digital banking channels. It supports both retail and corporate transactions, making it adaptable for various financial services. Easily integrated into Internet and Mobile Banking platforms, DuitNow Transfer provides your customers with a secure and efficient way to transfer funds instantly.

The service operates in two main steps:

Account Verification: When a payment is initiated, an account inquiry is sent to the Receiving Participant to display the recipient's name. This lets the payer confirm the recipient before proceeding with the transaction.

Credit Transfer: Once the recipient's name is verified, the Originating Participant debits the payer's account and sends the credit transfer request to the Receiving Participant for processing.

Network Administration

Signing on/off and echo with DuitNow system. Ensuring its smooth operation and reliable service delivery.

National Addressing Database (NAD)

The National Addressing Database (NAD) allows customers to register and manage their chosen proxy linked to a bank accounts such as a mobile number, NRIC, passport number, army number, or business registration number for easier identification and payment.

Credit Transfer

A Credit Transfer allows you to send money from one bank account to another. This can be done through Internet Banking, Mobile Banking, or at a branch.

Credit Transfer Reversal

Credit Transfer Reversal allows the Acquirer to issue reversals to the Issuer and Customer when there's a refund request for a dispute or transaction timeout.

Integration

Review the documentation to understand DuitNow Transfer and its features. This step covers prerequisites like technical requirements, account setup, and compliance, ensuring a smooth integration and onboarding process.

Network Administration

This service must be integrated first before proceeding with others. If already integrated, you may skip this step.

National Addressing Database (NAD)

The National Addressing Database (NAD) allows customers to register and manage their chosen proxy linked to a bank accounts such as a mobile number, NRIC, passport number, army number, or business registration number for easier identification and payment.

Credit Transfer

A Credit Transfer allows you to send money from one bank account to another. This can be done through Internet Banking, Mobile Banking, or at a branch.

DuitNow Transfer Types

Pay by Proxy

Pay by Proxy allows customers to make payments using a registered Proxy ID, such as a mobile number, NRIC, passport number, army number, or business registration number.

Pay by Account

The Account Resolution Enquiry API verifies the validity of a beneficiary account before processing a payment request, ensuring the account is ready to receive funds.

Credit Transfer Reversal

This service allows the Acquirer to issue reversals to the Issuer and Customer when there's a refund request for a dispute or transaction timeout.

Explore More

Registration

Start your journey and register with us now via PayNet Hub. We provide a seamless step by step guidance to guarantee a smooth onboarding experience.

Ready to integrate?

Kick things off by creating a new project. From there, you can start using the API and seamlessly connect it with the Simulator test cases to validate your setup.

Operations

A single centralised place to streamline operational procedures and offers a comprehensive suite of information to support post live occurrences.