🇲🇾 DuitNow vs 🇦🇷 SNP

Malaysia vs Argentina · Real-time payment systems compared

🇲🇾 DuitNow

Malaysia

2025 Transactions4.5 billion

2025 Value (USD)$330.0bn

Volume YoY+28.6%

Launched2018

OperatorPayNet

SettlementInstant

🇦🇷 SNP

Argentina

2025 Transactions8.0 billion

2025 Value (USD)$590.4bn

Volume YoY+2.6%

Launched2016

OperatorBCRA

SettlementInstant

Key differences

SNP processes 1.8× more transactions than DuitNow (8.0 billion vs 4.5 billion in 2025).
DuitNow is growing faster year-on-year (28.6% vs 2.6%, a 26.0 point gap).
SNP (2016) predates DuitNow (2018) by 2 years.
Both systems support request-to-pay, proxy/alias lookup.
DuitNow uniquely supports QR code payments, cross-border.

Infrastructure comparison

Capability	DuitNow	SNP
QR Code Payments	✓	◐
Wallet Support	✓	◐
24/7 Availability	✓	✓
Cross-Border	✓	—
ISO 20022	✓	—
Request to Pay	✓	✓
Open API	✓	◐
Alias/Proxy	✓	✓

About each system

DuitNow

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.

SNP

Argentina's Sistema Nacional de Pagos enables instant interbank transfers supporting both push (credit) and pull (debit) payments via CBU (bank account), CVU (virtual wallet), or alias (human-readable name). Operated by the BCRA, it connects traditional banks and the rapidly growing fintech/e-wallet ecosystem (Mercado Pago, Ualá, etc.). Transferencias 3.0 extended the system with interoperable QR codes for merchant payments, making it one of Latin America's most feature-rich instant payment platforms.