PayNet unveils Malaysia's first fintech-focused hub

New Straits Times

05-05-2025

KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) has launched the country's first fintech-focused community and accelerator called PayNet Fintech Hub.
The platform will accelerate fintech growth in Malaysia by providing fintechs with direct access to capital, key industry connections, financial incentives and the ability to learn from and work alongside global powerhouses.
PayNet group chief executive officer Farhan Ahmad said this marks a decisive step forward in advancing Malaysia's vision for future-ready and inclusive financial services that will drive growth and innovation goals.
"Successful fintech innovation is one of the best ways to ensure that Malaysia keeps up with the fast-evolving nature of financial services due to the rapid growth of AI," he said in a statement.
PayNet said the hub is a highly selective programme with two key pillars, community and catalyst.
Fintechs selected into the community will gain direct access to a network of like-minded founders and ecosystem players, fostering idea exchange and shared learning.
Participants will also benefit from over 450 hours of hands-on mentorship delivered by a curated network of successful founders and domain experts.
Additionally, the programme connects fintechs with major corporate players in banking, payments, and technology for partnership opportunities, alongside a pool of fintech-focused investors who can mentor, evaluate and invest in the members.
All the community members will also receive exclusive financial support, including over RM1 million in PayNet value-added credits and more than RM600,000 worth of sponsored advisory services covering legal, finance, human resource and market research.
Members will further enjoy up to RM3 million in cloud credits and support from major cloud service providers, along with access to a fully sponsored co-working space.
Farhan said the unique and transformative initiative is dedicated to scaling startups beyond the foundational stage by addressing the key issues faced by fintechs in Malaysia.