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Search Payments News
September 30, 2024
On the web
National Fraud Portal to Solidify Coordinated Efforts in Curbing Financial Scams
Bank Negara Malaysia
February 27, 2024
On the web
Malaysia and Cambodia Central Banks Team up to Strengthen Regional Cooperation in Financial Innovation and Payments
TNGlobal
August 29, 2023
On the wires
Alipay+ Partners With PayNet to Promote Seamless Payment for Inbound and Outbound Malaysian Travellers
Business wire
August 25, 2023
On the web
Malaysia, Indonesia, and Thailand Promote Domestic Currency Use in Bilateral Transactions
Cryptopolitan
August 9, 2023
On the wires
UnionPay International Partners with Malaysian Payment Network PayNet to Promote Cross-Border QR Interoperability
PR Newswire
November 1, 2022
On the web
Euronet Worldwide Announces Strategic Partnership with TNG Digital to Power One of the Largest Non-Bank Prepaid Card Programs in Malaysia
Euronet Worldwide, Inc.
Euronet Worldwide Inc., a leading global financial technology solutions and payments provider, announced today a strategic collaboration with TNG Digital Sdn. Bhd. (TNG Digital) to expand the use of its Touch ‘n Go eWallet that serves approximately 18 million users in Malaysia.
TNG Digital provides financial and payments services to both retail consumers and small- to mid-sized businesses across the physical and online payments infrastructure in Malaysia. The Touch ‘n Go eWallet currently operates within the same payments ecosystem as banks in Malaysia. TNG Digital recently entered a partnership with Visa to develop a prepaid card solution, which also leverages Euronet’s REN payments platform, and link each card to a user’s Touch ‘n Go eWallet. This prepaid card program expands the reach of the Touch ‘n Go eWallet and allows its users to make payments to more than 80 million Visa merchants globally. The open loop card program will also provide seamless interoperability to its customers and help TNG Digital design more customized value offerings for its customers.
August 10, 2022
On the web
Apple Pay Launches in Malaysia
Apple Newsroom (Singapore)
“Apple today announced customers in Malaysia can now use Apple Pay with their iPhone, Apple Watch, iPad, and Mac. The easier, safer, and more secure way to pay for everything in customers’ daily routines is available in-store at leading retailers, in apps, and on the web. Apple Pay brings added speed and convenience to users’ daily lives, whether they’re grabbing a coffee at Starbucks, buying groceries from Village Grocer, or making an online purchase from Shopee. Starting today, thousands of retailers will accept Apple Pay, with support from some of Malaysia’s most established banks across major credit and debit networks.”
July 21, 2022
On the web
Central Banks in Five SE Asian Countries to Create Common Contactless QR Payments Zone
NFCW
“The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand are to develop an interoperable cross-border payments system that will enable residents of each country to use their mobile banking app to make QR code-based payments for goods and services when visiting any of the other territories. The integrated system will enable visitors to another of the participating countries to make transactions in local currency that will then be settled in their own without having to be exchanged via an intermediary currency such as the US dollar. Bank Indonesia, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore and the Bank of Thailand announced that they are preparing to sign a general agreement on payment connectivity that will establish a framework for the system later this year at a seminar during a meeting of G20 finance ministers and central governors in Bali.”
June 21, 2021
On the web
Axiata, Telenor Seal $15 Bln Deal to Form Malaysia’s Biggest Mobile Operator
Reuters
“Malaysian telecoms firm Axiata Group Bhd (AXIA.KL) and Norway’s Telenor ASA (TEL.OL) will merge their mobile operations in Malaysia in a $15 billion deal, forming a new market leader in the competitive Southeast Asian nation. The companies had said in April they were in advanced talks to merge Celcom Axiata Bhd and DiGi.Com Bhd (DSOM.KL) , and each party would own 33.1% of the combined firm.”
Thailand, Malaysia C.banks Launch Cross-border QR Payment Linkage
Reuters
“The central banks of Thailand and Malaysia launched on Friday a cross-border QR (Quick Response) payment linkage to enable consumers and merchants in both countries to make and receive instant cross-border QR code payments. The move is the first phase in linking the real-time retail payment systems of Malaysia’s RPP/DuitNow and Thailand’s PromptPay, they said in a statement. ( https://bit.ly/3gAlG4k )”
March 23, 2021
On the wires
Discover Announces Alliance With Malaysia’s PayNet to Expand Worldwide Acceptance
“Discover, a leading digital bank and payments company, and Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for payment services in Malaysia, have signed an agreement that will greatly expand acceptance for Discover, Diners Club International and network alliance cardholders in Malaysia. The agreement complements Discover’s strategy of growing acceptance in Asia Pacific to support existing partners in countries such as Singapore, India, China and Japan by potentially opening acceptance at 10,000 ATM locations and more than 570,000 point-of-sale terminals throughout Malaysia.”
March 8, 2021
On the web
ShopeePay Mobile Wallet Added to Digital Payments Acceptance Options Supported by Malaysia’s GHL Systems
Crowdfund Insider
“GHL Systems Berhad’s Malaysia-based business operations have reportedly added the ShopeePay mobile wallet to their digital payments acceptance options. The new payments service has been added after a recent partnership with ShopeePay Malaysia Sdn Bhd. Through the partnership, GHL will enable its offline merchant base and new merchants with the option to take digital payments for purchases via the ShopeePay mobile wallet.”
March 1, 2021
On the web
Digital Finance: EVOLET Driving Financial Inclusion in Malaysia
The Edge Markets
“Last March, which was roughly a year after he had the conversation with the migrant worker, Yu launched EVOLET, a secure digital wallet with a complimentary pre-paid Mastercard service as an alternative to bank accounts for migrant workers. Convenience for workers aside, the digital wallet — licensed by Bank Negara Malaysia — is fashioned first as a payroll management tool, which is an immense cost-saving service for employers, as disbursement of cash is very costly and oftentimes perilous.”
July 7, 2020
Top Post
Adyen Expands Acquiring Capabilities to Malaysia
“ADYEN, the global payments platform of choice for many of the world’s leading companies, today announced the expansion of its acquiring capabilities to include Malaysia. Adyen acquiring complements the company’s all-in-one payment platform allowing merchants like Fave, foodpanda and Love, Bonito to get the most out of each transaction with local payment processing. This announcement extends Adyen’s local acquiring capabilities in Asia-Pacific, following launches in Australia, Hong Kong, and Singapore, and is supported by demand from international merchants looking to better serve Malaysia’s growing internet economy.”
February 11, 2020
On the web
Coopetition, Not Competition, Is Asia-Pacific’s Path to Cash-free Future
The Jakarta Post
“Competition for digital payments flourishes in these circumstances. Malaysia’s central bank lists 47 e-money issuers in the nation, accounting for 13.8 billion Malaysian ringgit ($3.3 billion) worth of transactions in the January-October 2019 period. International giants such as Alipay and WeChat Pay import their expertise from a mature Chinese ecosystem, while local players rise to the challenge with branding, marketing and investor-lined pockets.”
December 6, 2019
On the web
WeChat Pay Now Lets You Quick Pay With Your Credit Card
SoyaCincau.com
“WeChat Pay is now offering greater convenience when it comes to mobile payments. If you don’t have sufficient eWallet balance, you can now pay directly via your assigned credit card. The Quick Pay feature via Credit Card is now available for WeChat Pay users in Malaysia. Previously, you can link your credit card but it is only limited for in-app service providers .”
October 7, 2019
On the wires
Stripe Launches in Malaysia
“Today, we’re happy to officially launch Stripe in Malaysia. Businesses all across the country can now easily accept and manage payments, and access the full Stripe stack including Billing, Connect, Radar and Sigma. More than 80 percent of Malaysians already access the internet and as many as two-thirds of them do so via their smartphones. Despite the continued growth in connectivity, the country’s internet economy remains a small fraction of the overall GDP. With today’s launch, we want to help thousands more entrepreneurs and companies in Malaysia grow and scale their online businesses domestically and internationally.”
March 26, 2018
On the web
Upstarts Are Swiping Business From Visa and Mastercard in India
Bloomberg
“Transactions through India’s homegrown Unified Payments Interface — which allows mobile apps run by retailers, airlines and other firms to take payment directly from bank accounts — reached almost half the value of debit and credit cards swiped at stores last month, central bank data show. The surge in UPI transactions has taken place since 2016 when the interface was set up by an umbrella organization of Indian banks. Mastercard, in contrast, has built up its business in India over three decades.”
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