Send Money to Malaysia with Peanut — Coming Soon
Peanut is expanding to Malaysia. Soon you'll be able to send money and have recipients pay locally via DuitNow — Malaysia's unified QR payment system.
Send Money to Malaysia with Peanut — Coming Soon
Malaysia's payment landscape has been transformed by DuitNow — a unified QR payment standard that connects all major banks and e-wallets under a single code. Whether paying at a hawker stall in Penang, a restaurant in Kuala Lumpur, or a shop in Langkawi, DuitNow QR is how Malaysians pay. But sending money to Malaysia from abroad still involves slow bank transfers, high fees, and exchange rates that shortchange the recipient.
Peanut is changing that. Soon you will be able to send money to Malaysia and have the recipient spend locally via DuitNow — scanning a unified QR code at merchants across the country. No fees on either side. No local ID needed. No waiting days for a transfer to clear.
Why Peanut Will Be the Best Way to Send Money to Malaysia
Better Exchange Rate
Traditional transfer services add their own markup to the MYR exchange rate. Wise adds a fee on top of the mid-market rate. PayPal takes 3-4% through a combination of fees and currency conversion charges. Peanut converts digital dollars directly to local currency at a competitive market rate, removing the extra conversion layers that quietly eat into the recipient's purchasing power.
No Fees
Peanut charges nothing on deposits, sending, or local spending. Depositing into Peanut is free — whether via SEPA from Europe, digital dollars from an exchange, or other supported methods. Sending to the recipient is free. Spending via DuitNow QR is free. That is a structural advantage over every traditional service that charges per-transfer fees, percentage-based markups, or both.
Instant Local Spending via DuitNow
DuitNow is Malaysia's national real-time payment platform with a unified QR standard. One QR code works across all participating banks and e-wallets — Touch 'n Go, Boost, GrabPay, MAE, and more. When Peanut launches, the recipient will scan a DuitNow QR at any participating merchant and pay instantly. Supermarkets, hawker stalls, food courts, retail shops, petrol stations — all accessible through a single QR scan.
No Local Account Needed
Malaysia typically requires a MyKad (national identity card) for banking and financial services. Foreigners usually need a work or residency visa to open a Malaysian bank account and access DuitNow features. Peanut removes that barrier — recipients will verify with any passport, no MyKad or local bank account required.
Info
How It Will Work
- 1
Sign up and verify
Create a Peanut account and complete identity verification with your passport. Takes under 2 minutes for most users.
- 2
Deposit funds
Fund your Peanut account via bank transfer (SEPA from Europe, ACH from the US) or send digital dollars from any major exchange.
- 3
Send to your recipient
Your recipient creates a Peanut account or receives funds to an existing one. Peanut-to-Peanut transfers arrive instantly.
- 4
Recipient pays via DuitNow QR
The recipient scans a DuitNow QR code at any participating merchant. The merchant receives ringgit instantly. Peanut is invisible to the merchant.
What the Recipient Will Be Able to Do
Pay via DuitNow QR
DuitNow QR is accepted at merchants across Malaysia — supermarkets, convenience stores, hawker stalls, food courts, restaurants, retail shops, and petrol stations. The unified standard means one QR code works with any DuitNow-enabled app. When Peanut integrates with DuitNow, the recipient will scan the QR, see the amount in MYR and the digital dollar equivalent, and confirm. The merchant sees a normal DuitNow payment.
Person-to-Person Transfers
DuitNow also supports transfers via phone number, NRIC, or passport number. Recipients will be able to send money to other people in Malaysia using these DuitNow identifiers, making it easy to split bills or send to friends.
Bank Withdrawal
Recipients will also be able to withdraw to a Malaysian bank account, converting their digital dollar balance to ringgit at the point of withdrawal.
Cross-Border QR Potential
DuitNow has established cross-border QR payment links with Singapore (PayNow), Thailand (PromptPay), and Indonesia (QRIS). As Peanut's integration develops, these cross-border links could open up additional spending options for users moving between these countries.
Who This Is For
Digital Nomads in Malaysia
Kuala Lumpur, Penang, and Langkawi attract digital nomads through the DE Rantau program (digital nomad visa), low cost of living, strong internet infrastructure, and diverse food culture. Without a MyKad, accessing DuitNow is difficult. Peanut will give digital nomads direct access to Malaysia's QR payment ecosystem — paying at hawker stalls, food courts, and cafes without needing local banking documentation.
Cross-Border Travelers from Singapore
The Singapore-Malaysia corridor is one of the busiest in Southeast Asia, with frequent daily crossings. The existing DuitNow-PayNow cross-border QR link between the two countries makes this corridor especially natural for Peanut users who want to pay seamlessly on both sides of the border.
UK Expatriates and Tourists
The UK-Malaysia connection includes both tourists drawn to Malaysia's natural beauty and cultural diversity, and expatriates working in the growing tech and services sectors. Peanut will let them access DuitNow payments without the hassle of opening a local bank account or obtaining a work visa.
How Much Will It Cost?
Peanut charges no fees on any operation. The exchange rate converts digital dollars directly to ringgit at a competitive market rate.
| Service | Fee | Exchange Rate | Recipient Gets |
|---|---|---|---|
| Peanut (planned) | $0 | Market rate | More ringgit |
| Wise | ~$3-6 | Mid-market with markup | Less |
| PayPal | ~$5 + 3-4% | Below mid-market | Significantly less |
| Western Union | $5-15 | Worst rate | Least |
Sending from Specific Countries
Send Money from Singapore to Malaysia
Singapore and Malaysia share deep economic and cultural ties, with frequent cross-border travel and remittance flows. When Peanut launches, Singaporean senders will be able to deposit funds and send to Malaysia. The recipient pays at merchants via DuitNow QR instantly. The existing DuitNow-PayNow cross-border QR link between the two countries makes this corridor especially promising.
Send Money from the United Kingdom to Malaysia
The UK-Malaysia corridor serves both remittance senders and the growing digital nomad community in Kuala Lumpur, Penang, and Langkawi. UK senders will deposit via SEPA (free, 90% arrive in under 20 minutes) and send to Malaysia, where the recipient accesses funds through DuitNow immediately.
