Payments Network Malaysia (PayNet) and Ant International have signed a new Memorandum of Understanding (MoU) at MyFintech Week 2025, witnessed by Bank Negara Malaysia Governor Dato’ Sri Abdul Rasheed Ghaffour.
The renewed partnership focuses on four key areas:
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Boosting tourism via cross-border digital payments
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Strengthening fraud defences
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Developing future-ready talent
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Advancing sustainability
What this means for Malaysians
Soon, travellers from Malaysia will be able to use their local e-wallets and banking apps abroad through Alipay+’s global network of 100 million merchants. This outbound linkage expands DuitNow QR’s acceptance worldwide, letting Malaysians pay seamlessly with the apps they already trust.
Leaders’ take
“This next phase shows the strength of Malaysia’s payment infrastructure and its potential to scale globally,” said Farhan Ahmad, Group CEO of PayNet. “Beyond global acceptance of DuitNow QR, it’s also about fighting fraud, nurturing talent, and building a more inclusive and sustainable payments ecosystem.”
Douglas Feagin, President of Ant International, added that Malaysia’s digital economy leadership has made it a fintech hub in Southeast Asia. “We are committed to deepening our partnerships here and driving inclusive growth in the region and beyond.”
Why it matters
This MoU is more than just about convenience for travellers, it signals Malaysia’s rising influence in the global digital payments landscape, ensuring local innovation gets a global stage.