Malaysia’s fintech firms Payments Network Malaysia (PayNet) and Swipey Digital Services (Swipey) have announced a strategic partnership to expand digital payment adoption among Malaysian small and medium-sized enterprises (SMEs).
This collaboration integrates DuitNow QR into Swipey’s financial operating (FinOps) platform, providing businesses with a seamless, cashless payment solution to replace outdated petty cash systems, the duo said in a statement on Thursday.
With over 2.5 million DuitNow QR touchpoints nationwide, this initiative strengthens Malaysia’s digitalization efforts.
It enables SMEs to manage financial transactions more efficiently while enhancing financial automation.
The collaboration also supports the MyDigital Blueprint, which aims to drive 30 percent productivity growth across all business sectors through digital adoption.
By integrating DuitNow QR into the Swipey app, SMEs will benefit from greater accessibility to digital payments, minimized financial inefficiencies, and improved cash flow management.
The automating reconciliation processes also allows for faster book closures and data-driven decision-making, empowering businesses to scale more efficiently.
Swipey is also introducing a limited-time campaign offering up to 3 percent cashback on DuitNow QR transactions to encourage adoption.
“This collaboration with Swipey represents a significant step forward in driving digital payment adoption among SMEs,
“Our mission at PayNet is to create a seamless and secure payments ecosystem. Integrating DuitNow QR with Swipey’s financial automation tools will enable more businesses to thrive in a digital-first economy,” said Gary Yeoh, PayNet’s Chief Marketing Officer.
“By extending cashless solutions beyond our everyday consumers, we are closing the loop on full cashless adoption, accelerating the shift towards a fully integrated digital economy,” he added.
Meanwhile, Kalyana Mohan, Chief Executive Officer of Swipey, said that many businesses underestimate the long-term impact of finance automation, and it is essential for sustained growth.
“By integrating DuitNow QR into our platform, we are making it easier for SMEs to automate processes, improve cash flow visibility, and make smarter financial decisions faster,” he added.
It is noted that beyond simplifying SME financial operations, Swipey’s platform is also making a meaningful impact across diverse industries.
From fostering transparency in grant management to enhancing transaction efficiency in retail, organizations are leveraging the firm’s automation tools to optimize their financial workflows.
Leading brands such as Maxis, Zus Coffee, BFM and Baskin Robbins, as well as government agencies such as MyDIGITAL, already leverage Swipey’s platform to streamline their financial operations.
Looking ahead, PayNet and Swipey said they will continue working together to advance SME financial digitalization.
A key focus will be enhancing financial literacy among SMEs, with plans to roll out educational webinars throughout 2025.
Additionally, both organizations aim to expand DuitNow QR interoperability across ASEAN, facilitating seamless cross-border transactions and providing businesses with greater regional payment capabilities.
Swipey will also introduce more incentives and cashback promotions to encourage digital payment adoption further, ensuring that businesses benefit from an affordable and rewarding transition to cashless operations.
In the coming months, the firm will jointly unveil a series of new business partnerships aimed at further expanding access to digital financial solutions for SMEs.
According to the statement, the PayNet-Swipey collaboration is just the beginning of a broader effort to accelerate SME digitalisation.
As part of PayNet’s ongoing commitment to fostering innovation, this collaboration signals its intent to work with more fintech startups to drive Malaysia’s digital payment landscape forward, it added.
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