Company Information

Get to know PayNet (Payments Network Malaysia)

Payments Network Malaysia Sdn Bhd (PayNet) was established from the merger of the Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) and Malaysian Electronic Payment System Sdn Bhd (MEPS). Bank Negara Malaysia (the Central Bank of Malaysia) is the single largest shareholder, with a consortium of eleven major Malaysian banks as joint shareholders. PayNet's mission is to build a secure, reliable, and efficient payments ecosystem that benefits the Malaysian economy. The company operates key national payment infrastructures including the real-time retail payments platform (DuitNow), the Financial Process Exchange (FPX) online payment gateway, the Interbank GIRO (IBG) system, the MyDebit national debit card scheme, and the JomPAY national bill payment service.

Industry

Financial Electronic PaymentPRIMARY
Financial Other Service

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PayNet (Payments Network Malaysia)

Malaysia

Founded in

2017 (9 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(73 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.