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.