CIRCULAR
To	:	All RPP Participants
From	:	Operations Division, PayNet
Date	:	2 September 2024
Subject	:	Extension on Secondary ID Validation for DuitNow Transfer
Product	:	RPP
Circular Reference Number	:	PNP/0824/026

 

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Dear RPP Participants,

Following our initial circular (Ref: PN/Commercial/DS/2024/0001) dated 20 March 2024, we are writing to inform you of an important update regarding the mandatory implementation of Secondary ID validation for DuitNow Transfer as a Receiving Financial Institution (RFI).

We have observed the majority implementation of the Secondary ID validation. Following the PayNet Engagement Forum in July and after considering the feedback from some participants on the need for additional time for implementation, we have extended the deadline to December 2024. All participants must prioritize this implementation to ensure the security and integrity of the DuitNow Transfer ecosystem.

Benefits of Secondary ID Validation:

• Enhanced security for DuitNow Transfer transactions by verifying recipient identity.
• Reduced risk of mistaken payments for senders.
• Addresses the growing need for robust account ownership verification among enterprise customers.

Please contact solution.advisory@paynet.my if you have any questions or require further information.

Thank you for your prompt attention to this matter.

 

Chua E Long
Chief Operating Officer

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Restricted Access and Confidentiality Notice
This document and its contents, including any enclosures, are strictly confidential. Participants are hereby notified of their obligation to ensure the following:

Limited Dissemination:
Circulation of this document and its enclosures is restricted to authorized personnel with a legitimate need to know the information contained herein.

Content Protection:
The contents of this document must not be disclosed or discussed with unauthorized individuals.

Documents Retrieval:
To retrieve the documents in this Circular, you are required to sign in to PayNet One Stop Portal ( https://portal.paynet.my ) with PayNet Single Sign-On (SSO). Within the "CIRCULARS" section, you will find the relevant documents associated with this Circular available for download.