PayNet, FAOM collaborate to accelerate fintech innovation in Malaysia

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PayNet, FAOM collaborate to accelerate fintech innovation in Malaysia - Digital News Asia

Quick Summary:

The MoU paves the way for the PayNet Fintech Hub

Both parties will collaborate to enhance access, regulation & growth for Malaysian fintechs Payments Network Malaysia Sdn Bhd (PayNet), Malaysia’s national payments network and central infrastructure provider, has signed a Memorandum of Understanding with the Fintech Association of Malaysia (FAOM), the country’s leading fintech industry body, to collaboratively advance innovation and drive growth within Malaysia’s financial technology (fintech) landscape.

The parties stated that his MoU represents a shared commitment to accelerating Malaysia’s evolution as a fintech leader in Asean, with an emphasis on inclusivity, shared prosperity, and responsible governance, adding that this marks a bold step forward in Malaysia’s fintech journey, reinforcing a mutual dedication to innovation, sustainability, and good governance in shaping the future of financial services.