Company Information

Get to know payments network malaysia

PayNet is the trusted operator of Malaysia's national retail and wholesale payment systems. The company was formed from the merger of Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) and Malaysian Electronic Payment System Sdn Bhd (MEPS) in 2017. It is a strategic entity with Bank Negara Malaysia (the Central Bank of Malaysia) as its largest shareholder and a consortium of eleven major Malaysian financial institutions as joint shareholders. PayNet's mission is to build a trusted, accessible, and collaborative payments ecosystem that enables innovation and economic growth. It operates key payment services including the DuitNow real-time retail payments platform, the FPX online payment gateway, the JomPAY bill payment scheme, and the MyDebit national debit card scheme.

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Financial PSP GatewayPRIMARY
Financial Other Service

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payments network malaysia

Malaysia

Founded in

2008 (18 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

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This company is currently Unproved.

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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.