News & Reviews:   paynet

Payments Network Malaysia Sdn Bhd, or PayNet, the company behind many of the digital financial technologies used in Malaysia, recently announced that it processed 8.44 billion cashless transactions throughout 2025. So, what should you know about it?

Six payment networks from Malaysia, Singapore, Vietnam, the Philippines and Indonesia have signed a Memorandum of Understanding (MoU) to establish a global standard for cardless cross-border payments.

In case you didn’t know, DuitNow QR can now be used overseas. So, what should you know about it?

Today, TNG Digital announced a new partnership with the UN Refugee Agency (UNHCR), to advance financial inclusion for refugees and asylum-seekers in Malaysia. A Memorandum of Understanding between the two parties was signed on World Refugee Day 2024.

Boost Bank has been around for a few months now. To celebrate Boost's 7th birthday, Boost Bank by Axiata and RHB is now rewarding all Malaysians with a 5% p.a. daily interest rate through the Boost Birthday Jar. For a limited time, the birthday reward will last until the end of October 2024.

Malaysians can soon use PayNet’s DuitNow QR to pay for items in Southeast Asian countries and Japan after Japan revealed that they’re making their QR code payment systems compatible with Southeast Asian countries. Expected to be implemented by fiscal 2025, read on to find out more.

This week’s TechNave Business Bytes Week 3 for March 2024 features several stories on security advancements. OutSystems offers a new tool to simplify integrating AI into applications securely. TM launches a telemedicine app to improve access to healthcare, and Maxis partners with Dell to provide advanced cybersecurity solutions for businesses and more.

Today, Curlec by Razorpay announced that it is now a member of the national payments network and infrastructure, Payments Network Malaysia Sdn Bhd (PayNet). For those who don't know, Curlec is a full-stack payment solution provider under Razorpay. 

In regards to the recent news of additional charges for merchants via DuitNow QR, Touch 'n Go (TNG) Digital just announced that those will be waived. That's good news to many users who are reliant on the ewallet platform but it's only for now until further notice.

Things have really been stirring up about the MDR (Merchant Discount Rate) for DuitNow QR Payments. Maybank has joined the MDR “until further notice” group with Public Bank while CIMB will extend the MDR waiver on DuitNow QR Payments until the end of the year. PayNet or Payments Network Malaysia Sdn Bhd have also announced an official statement clarifying more details.