Payments Network Malaysia Sdn Bhd (PayNet), Malaysia’s national payments firm, announced Wednesday that Praveen Rajan has assumed the role of Chief Executive Officer (CEO), effective February 1, 2026.
PayNet said in a statement that Rajan’s appointment follows a structured leadership transition designed to ensure continuity across PayNet’s mandate as Malaysia’s national payments infrastructure.
The transition was announced in September 2025, after which he joined PayNet as CEO-Designate on December 1, 2025.
Over the past two months, he has worked closely with his predecessor and the Leadership Team to support a smooth and orderly handover.
He brings extensive experience leading large-scale, mission-critical and regulated organizations, with a strong track record in digital transformation, operational resilience, and stakeholder engagement.
PayNet said its strategic priorities remain unchanged, with continued focus on reliability, security, financial inclusion, fraud prevention, and the advancement of the nation’s digital payments ecosystem.
“The board welcomes Praveen’s appointment as CEO, following the leadership transition announced last year,
“The early announcement and CEO-Designate period have enabled a smooth handover, allowing PayNet to move forward with stability and continuity as we execute our mandate,” said Izzaddin Idris, Chairman of PayNet.
Commenting on his appointment, Rajan said PayNet plays a critical role in the daily lives of Malaysians and in the country’s financial system.
“Over the past two months, I have worked closely with a strong and committed team, and I am stepping into this role with deep respect for the work already underway,” he said.
He noted his focus is on building on these strengths to execute with discipline and clarity, strengthen operational resilience and stability, and engage more actively with industry participants and partners across relevant sectors to support the nation’s digital economy.
Rajan succeeds Farhan Ahmad, who concluded his tenure on January 31, 2026 after leading PayNet through a period of significant growth and strengthening its role as Malaysia’s shared payments infrastructure.
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