DuitNow is an electronic payment system that enables fast and secure money transfers between bank accounts using unique identifiers such as mobile phone numbers, national identification numbers, or business numbers.
Here are some key points about the DuitNow payment method:
– Money Transfers: DuitNow facilitates money transfers between bank accounts. Users can send and receive money using unique identifiers instead of entering traditional banking details.
– Unique Identifiers: DuitNow utilizes identifiers such as registered mobile phone numbers, national identification numbers, or business numbers to facilitate money transfers. This makes transactions faster and helps avoid data entry errors.
– Quick Transactions: Money transfers via DuitNow are typically instant, meaning funds are transferred within seconds. This allows for fast and convenient transactions between users.
– Security: DuitNow emphasizes transaction security. Users need to authenticate themselves with their banking credentials before they can initiate money transfers. Additionally, the unique identifiers used for payments are encrypted and protected.