France-headquartered IDEMIA Secure Transactions (IST) has announced a strategic partnership with Payments Network Malaysia (PayNet) to support the expansion of digital payments in Malaysia.

In a statement on Monday, IDEMIA said the collaboration would focus on enhancing the country’s digital payment ecosystem through the MyDebit network, operated by PayNet. Banks serving millions of Malaysians are enabling MyDebit cards for mobile payments using IST’s tokenization platform alongside PayNet’s domestic infrastructure.

As part of the rollout, 11 banks are introducing digital payment capabilities for cardholders. AmBank customers are the first to add MyDebit cards to a mobile wallet for proximity and in-app payments, with other banks expected to follow.

IST’s token platform replaces sensitive card details with unique digital tokens, allowing transactions to be processed without exposing actual card information. The system supports mobile near-field communication (NFC), in-app, and online payments while enabling secure communication across the payment ecosystem.

The platform incorporates AES 256 encryption, a widely used security standard designed to protect transaction data and address evolving cybersecurity risks, according to IDEMIA.

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