Payment and settlement systems remain stable without major disruptions

April 3, 2020 @ 12:43pm

By Azanis Shahila Aman

KUALA LUMPUR: Real-time Electronic Transfer of Funds and Securities System (RENTAS) continued to remain resilient and maintained high system availability above 99.9 per cent throughout 2019.

Bank Negara Malaysia said a total of 5.1 million transactions amounting to RM56.8 trillion were settled via RENTAS.

This was equivalent to 37.8 times of Malaysia’s gross domestic product (GDP), Bank Negara said in its Financial Stability Review 2019.

“This represents an annual growth of 3.2 per cent in total volume and 2.9 per cent in total value,” it added.

Bank Negara said Malaysia’s retail payment systems had also achieved high system availability above the target level of 99.9 per cent last year.

Credit transfers, such as Interbank GIRO (IBG) and Instant Transfer, which accounted for the bulk (62.4 per cent) of retail electronic payments, both achieved 100 per cent system availability.

“Incidents involving other types of retail payment systems such as DuitNow, JomPAY and FPX which were caused by processing and system configuration issues resulted in some isolated settlement delays but did not affect the execution of payment transactions by customers.

“Similar to RENTAS, the issues have been resolved,” it added.