PayNet

About

Payments Network Malaysia Sdn Bhd (PayNet) operates national payment infrastructure for Malaysia, connecting banks, e-wallets and other institutions. It was formed in 2017 through the merger of MyClear and MEPS, whose history includes the shared ATM network launched in 1996, Interbank GIRO in 2000 and FPX in 2004. Its services include DuitNow transfers and QR payments, FPX, MyDebit, JomPAY, AutoDebit, DirectDebit, cross-border QR payments and the shared ATM network, along with the PayNet Certify certification service. Bank Negara Malaysia is its largest shareholder, alongside eleven Malaysian financial institutions, and its shareholders do not take dividends, with surplus profits reinvested in the infrastructure. PayNet also runs digital initiatives including Open Finance Malaysia and the National Fraud Portal, and launched the PayNet Fintech Hub in 2025.