Payments Network Malaysia Sdn Bhd (PayNet) was established in 2017 following the merger of Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) and Malaysian Electronic Payment System Sdn Bhd (MEPS). It is a strategic entity owned by a consortium of eleven major Malaysian banks and Bank Negara Malaysia (the Central Bank of Malaysia). PayNet's mission is to build and operate a world-class, inclusive, and competitive payment ecosystem for Malaysia. The company is responsible for major national payment services including the DuitNow real-time retail payments platform, the FPX online payment gateway, the JomPAY bill payment scheme, and the MyDebit domestic debit card scheme.

Founded in

United States