MyDebitMalaysia's domestic debit scheme, with a requirement to route debit transactions domestically first. In 2025 it migrated to NextSwitch, a new switch built and owned locally by PayNet.PayNet · since 2016
Global registry · Asia-Pacific · Southeast Asia
Malaysia Payment systems
12 systems listed.
CurrencyMalaysian ringgit (MYR)
Domestic schemeMyDebit
RegulatorBank Negara Malaysia (BNM)
Leading payment methods
A2A (FPX, DuitNow)CardsWallets (Touch 'n Go)BNPL
E-commerce shares
Account-to-account · 35%Cards · 30%Wallets · 25%Cash · 5%Buy now, pay later · 3%Other · 2%
DuitNow + FPX. FPX (online banking payments) is a long-standing pillar of e-commerce; DuitNow (alias-based instant transfers and the national QR code) is taking over, interoperable with Singapore, Indonesia, and Thailand. Touch 'n Go, which started in electronic toll collection, is the most widely used wallet.
Touch 'n Go eWallet users>20M
DuitNow QRinteroperable with Singapore, Indonesia, Thailand
Bank Negara Malaysia’s proactive policy: a unified QR standard, ASEAN links, and a rapid shift from cash to A2A.
Learn about this market. The guides and courses that cover it.
Payments in Oceania and CanadaPayments in Central AsiaPayments in South Asia outside IndiaPayments in Southeast AsiaPayments in Japan and KoreaPayments in Malaysia and SingaporeAccepting payments in Australia and New ZealandAccepting payments in Indonesia and ThailandAccepting payments in Japan and South KoreaAccepting payments in Southeast AsiaPayments in Asia: super-apps, public rails, and cross-border QROpening a new market: the payments playbook
Card schemes
Instant payments
DuitNow (Real-time Retail Payments Platform, RPP)Malaysia’s instant payment rail, with proxy addressing (mobile number, NRIC, business registration number). PayNet is unusual in being majority-owned by the central bank, which has said it plans to reduce its stake.Payments Network Malaysia Sdn Bhd (PayNet) (majority-owned by Bank Negara Malaysia and 11 financial institutions) · since 20184.5 billion transactions worth $330 billion in 2025, up 28.6% year over year (RTP Dashboard, based on PayNet data); PayNet processed 8.44 billion digital transactions across all its systems in 2025, about 23 million a day
RPP / DuitNowMalaysia’s Real-time Retail Payments Platform, with alias addressing (DuitNow) and an interoperable QR code (DuitNow QR). It is linked to PromptPay, PayNow, QRIS, and QR Ph, making it one of the most connected nodes in Southeast Asia.Payments Network Malaysia (PayNet) · since 2018
Clearing and settlement
DuitNow AutoDebitThe direct debit component of the PayNet framework: the payer authorizes a recurring debit mandate once in the banking app, and the biller then collects automatically. It fills the gap left by DuitNow Transfer and FPX, both payer-initiated. A Malaysian biller with recurring collections uses AutoDebit or the legacy Direct Debit.Payments Network Malaysia Sdn Bhd (Malaysia’s national retail payments operator, supervised by Bank Negara Malaysia)
Interbank GIRO (IBG)Batch interbank credit transfer with deferred settlement, run by PayNet for consumers as well as corporate bulk payments. It complements real-time DuitNow when volume matters more than speed. Its launch year and regulated pricing could not be verified from a primary source.PayNet
Wallets
Touch 'n Go eWalletMalaysian wallet built on the Touch 'n Go toll and transit brand, extended into credit, investments, and travel booking. It targets residents as well as tourists and expats, which makes it a payment method local merchants should know about.TNG Digital (Regulated by Bank Negara Malaysia and the Securities Commission Malaysia.)
BoostMalaysian fintech app that combines payments, savings, and buy now, pay later. The digital banking license often attributed to the group and a banking partner could not be confirmed from a primary source and is therefore not stated here.Boost Holdings Sdn. Bhd. (Malaysian registration number 202001013946 (1370266-W).)
Interoperable QR
DuitNow QRMandatory national QR standard: all banks and wallets must accept the same code. It supports Malaysia’s four cross-border links (Thailand, Singapore, Indonesia, Cambodia) and UnionPay acceptance.PayNet · since 2019
Buy now, pay later
AkulakuInstallment payments and consumer credit built on its own marketplace and extended into digital banking. A pure-play lender, unlike BNPL offerings tied to a third-party marketplace.PT Akulaku Silvrr Indonesia (Indonesian entity of the Akulaku group, which also operates in the Philippines, Vietnam, and Malaysia.)33 million customers and more than 90,000 listed sellers (Akulaku, official website, 2026)
Other
FPX (Financial Process Exchange)E-commerce payment that redirects shoppers to their online bank, with real-time confirmation. It is still Malaysia’s leading online payment method, ahead of cards, a point foreign merchants often underestimate.PayNet · since 2008
JomPAYNational bill payment system based on a single biller code and accessible from any bank. Malaysia’s counterpart to India’s Bharat Connect, often missing from market overviews.PayNet · since 2015
RENTASMalaysia’s RTGS, which settles the positions of RPP and IBG (Interbank GIRO, the bulk payment rail).PayNet for Bank Negara Malaysia · since 1999