Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and a central driver of Malaysia’s digital economy, has launched Malaysia’s first fintech-focused community and accelerator: The PayNet Fintech Hub (the Hub).
This platform will accelerate fintech growth in Malaysia by providing fintechs with direct access to capital, key industry connections, financial incentives, and the ability to learn from and work alongside global powerhouses, PayNet said in a statement on Monday.
“A thriving fintech industry is the key to delivering future-ready and inclusive financial services that can advance Malaysia’s growth and innovation goals,
“Successful fintech innovation is one of the best ways to ensure that Malaysia keeps up with the fast-evolving nature of financial services due to the rapid growth of AI. The PayNet Fintech Hub marks a decisive step forward in enabling this vision,” said Farhan Ahmad, Group Chief Executive Officer of PayNet.
The Hub is a highly selective programme with two key pillars: Community and Catalyst.
Fintechs selected into the Community will get direct access to a community of like-minded founders and ecosystem players to exchange ideas and share learnings; over 450 hours of hands-on mentorship by a network of hand-selected successful founders and domain experts; major corporate players from banking, payments, and tech for partnership opportunities; a pool of fintech investors who can mentor, evaluate and invest in Fintech Hub members.
All Fintech Hub Community members will also get exclusive financial support in the form of more than MYR 1 million ($240,000) in PayNet value-added credits; over MYR 600,000 ($141,760) worth of sponsored advisory services across legal, finance, human resource, and market research; up to MYR 3 million ($710,000) in cloud credits and support from major cloud service providers; access to a fully sponsored co-working space.
These curated and highly lucrative benefits are designed to help founders preserve cash burn, navigate challenges, refine business models, sharpen go-to-market strategies, raise funds, and define a clear path towards a successful exit.
The most promising startups from the Community will be handpicked for their exclusive Catalyst program.
This Catalyst track is in partnership with leading global institutions to give top Malaysian fintechs international exposure, mentorship, resources, and access. Fintechs in the Catalyst program will join a fully sponsored 10-week accelerator program in partnership with Imperial College London, widely recognized for having one of the best startup accelerators in the world.
This program includes a week-long trip to London to meet with the Imperial faculty, as well as European and American startups.
Participants will get hands-on coaching and mentoring by the Imperial faculty, culminating in a final demo day that offers exposure to venture capitalists and potential corporate partners.
This accelerator has been uniquely curated for the needs of Malaysian fintechs and is fully funded by PayNet.
According to the statement, this expanded Fintech Hub partnership with AWS provides Catalyst eligible participants with credits to access AWS cloud services and tools through the newly launched AWS Asia Pacific (Malaysia) Region, along with entry into the upcoming Fintech Innovation Sandbox, enabling them to scale securely and efficiently.
“The PayNet Fintech Hub truly is a unique and transformative initiative dedicated to scaling startups beyond the foundational stage. It addresses the key issues faced by fintechs in Malaysia and we expect it to significantly accelerate fintech growth in the country,
“The Hub is our response to a global call for smarter collaboration and accelerated innovation, uniting the fragmented fintech ecosystem and creating real, scalable outcomes, and we are very excited about its possibilities,” Farhan added.
By offering direct access to the resources that matter most, the PayNet Fintech Hub is set to fuel innovation, create high-impact partnerships, and position Malaysia as a leading fintech destination in the region, said the statement.