Malaysia

One of Southeast Asia’s dynamic economies, Malaysia’s government has long recognized that modern financial infrastructure is key to achieving economic growth and financial inclusion. Implemented by PayNet, Malaysia’s Real-time Retail Payments Platform (RPP) and consumer facing DuitNow real-time transfer service are leading the country’s real-time transformation.  

A concerted effort by the government, central bank, national switch and industry has harmonized the nation’s payment structure. The collaboration has helped ensure a seamless experience for all stakeholders, opening the ecosystem to fintechs and vertical businesses, paving the way for Malaysia’s diverse use cases. As its national payments network and central infrastructure for Malaysia’s financial markets, Payments Network Malaysia (PayNet), continues to consolidate and unify services, Malaysia is leading the way in driving real-time payments expansion and enabling instant cross-border payments. 

By unifying different payment rails under one national regulatory standard and network and making payments between them interoperable, RPP has rendered real-time payments a daily reality.