Malaysia vs India · Real-time payment systems compared
| Capability | DuitNow | IMPS |
|---|---|---|
| QR Code Payments | ✓ | — |
| Wallet Support | ✓ | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | ✓ | — |
| ISO 20022 | ✓ | — |
| Request to Pay | ✓ | — |
| Open API | ✓ | ◐ |
| Alias/Proxy | ✓ | — |
Malaysia's unified real-time payment platform operated by Payments Network Malaysia (PayNet). DuitNow supports instant transfers via mobile number, NRIC, passport number, or business registration, with DuitNow QR enabling interoperable merchant payments across all banks and e-wallets. The system also includes DuitNow Request (request-to-pay) and DuitNow Autodebit for recurring payments. Cross-border QR linkages with Thailand's PromptPay, Singapore's PayNow, and Indonesia's QRIS are live or in progress.
Immediate Payment Service is India's original 24/7 real-time interbank transfer system launched by NPCI, and the foundational infrastructure that UPI was later built upon. IMPS uses MMID (Mobile Money Identifier) and mobile number for addressing, supports transfers up to INR 5 lakh, and connects banks via the National Financial Switch. While UPI has overtaken it for consumer payments, IMPS remains widely used for direct bank-to-bank transfers and backend settlement.