Payments Network Malaysia Sdn Bhd (PayNet), the nation’s central payments network, has taken a major step forward in advancing Malaysia’s role in the global digital economy by strengthening its partnership with Ant International, a leading provider of digital payments and financial technology. The two organisations formalised their collaboration with the signing of a new Memorandum of Understanding (MoU) at MyFintech Week 2025, Malaysia’s flagship fintech event, witnessed by Dato’ Sri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia.
The renewed partnership focuses on four key areas: boosting tourism through cross-border digital payments, enhancing fraud prevention measures, nurturing local talent, and driving sustainability in the financial ecosystem. Central to the agreement is the global expansion of DuitNow QR, Malaysia’s national QR code standard, which will be made accessible worldwide through Ant International’s Alipay+ network. This integration will allow Malaysian travellers to use their preferred local e-wallets or banking apps across Alipay+’s extensive global ecosystem of more than 100 million merchants, bringing greater convenience and seamless payment experiences abroad.
This milestone not only elevates DuitNow QR’s international acceptance but also reinforces Malaysia’s ambitions to become a leading fintech hub in Southeast Asia. Douglas Feagin, President of Ant International, highlighted the company’s long-standing support of Malaysia’s digital growth and its commitment to further investment in the country’s fintech landscape. He noted that the collaboration would foster inclusive growth, underpinned by innovation and entrepreneurship.
Echoing this, PayNet’s Group Chief Executive Officer, Farhan Ahmad, emphasized that the partnership demonstrates the scalability and strength of Malaysia’s national payment infrastructure. He stressed that beyond driving global acceptance of DuitNow payments, the partnership will open new opportunities to jointly combat fraud, develop future-ready talent, and build a more inclusive, sustainable, and resilient global digital payments ecosystem. For Malaysians, this means greater ease of use when travelling overseas, while tourists visiting the country can also benefit from smoother digital transactions – positioning Malaysia at the forefront of financial innovation and cross-border connectivity.