Payments Network Malaysia
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| Company type | Private limited company |
|---|---|
| Industry | Payment system |
| Predecessor |
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| Founded | 1 August 2017 |
| Headquarters | Level 8, Menara Southpoint @ Mid Valley City,
Medan Syed Putra Selatan, 59200 Kuala Lumpur , Malaysia |
Area served | Malaysia |
Key people |
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| Products |
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| Services | |
| Subsidiaries | Malaysian Electronic Payment System Sdn Bhd MEPS Currency Management Sdn Bhd |
| Website | paynet |
Payments Network Malaysia Sdn Bhd (PayNet) is the national payments network and shared central infrastructure for Malaysia’s financial markets. It was formed from the merger between the Malaysian Electronic Payment System (MEPS) and Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) on 1 August 2017.[1] PayNet is Malaysia's premier payments network and central infrastructure for financial markets.
Bank Negara Malaysia (BNM) owns a majority share in PayNet, along with eleven other local financial institutions as joint shareholders.[2]
History
PayNet was formed on 1 August 2017 from the merger of MEPs and My Clear.
Services
The company's current service portfolio includes the following:
- eSPICK – The national cheque clearing system of Malaysia.
- JomPAY – A payment scheme for paying utility bills
- FPX – A direct-to-bank payment gateway.
- DuitNow – Instant account-to-account payment across participating banks and E-wallets.
- DuitNow QR – QR code payment scheme, a contactless payment method.
See also
References
- ^ "Merger of MyClear and MEPS – Strengthening Malaysia's Payments Infrastructure to Accelerate Migration to E-Payments – Bank Negara Malaysia". www.bnm.gov.my. Retrieved 2023-03-17.
- ^ "About PayNet | Corporate Profile". paynet.my. Retrieved 2023-03-17.
External links
Interbank networks by region | |||
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| Worldwide | |||
| Africa |
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| Asia |
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| Europe |
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| North America |
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| Oceania | |||
| South America |
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