Hong Kong payment delays rise as Malaysia denies QR service charge claims

A Coface APAC Payment Survey 2026 indicates that 93% of organizations in Hong Kong experienced late payments over the past 12 months, a rate higher than the 91% average across the Asia Pacific region. Despite Hong Kong’s GDP growing by 5.1% in the first half of 2026, payment delays have become more frequent and severe for approximately 40% of respondents. On average, firms wait 144 days for final payment collection, with sectors such as transportation, energy, and agriculture seeing delays exceeding 160 days.

In Malaysia, the Ministry of Finance (MOF) has denied rumors circulating on social media regarding new service charges for QR payments starting November 1, 2026. The ministry clarified that no such announcement has been made and urged the public to use official channels for verification. While DuitNow QR payments remain free for consumers, merchants may incur merchant discount rates (MDR) determined by their respective banks and providers. For instance, RHB Bank recently announced revised merchant fees effective October 26, 2026, which include a 0.35% charge for transactions via current, savings, or e-wallets, and 0.60% for credit card payments.