PayNet opens direct participation to Malaysian acquirers and issuers
Terms
Payment methods
Geography
Details
Requirements
- Bank Negara Malaysia licence, Malaysian legal entity
- Three years of experience or a qualified shareholder
- TPA: equity from RM500k and 1M+ transactions a year
- EMI: equity from RM5M
What we offer
- Direct access to DuitNow Transfer, DuitNow QR and MyDebit
Direct PayNet participation in Malaysia's national payment network is open to acquirers and e-money issuers licensed by Bank Negara Malaysia. Payments Network Malaysia offers them a connection to its retail payment products without intermediaries.
Network products - DuitNow Transfer for instant transfers; - DuitNow QR for QR payments; - MyDebit, the national debit scheme; - direct payment-network participation.
Some products on the list are marked as coming soon, so their availability should be confirmed.
Participant requirements - a legal entity incorporated in Malaysia; - three years of relevant experience, or a qualified parent company or shareholder; - third-party acquirers (TPA): equity of at least RM500k and at least 1 million transactions a year; - e-money issuers (EMI): equity of at least RM5 million.
Other entity types are asked to enquire.
Geography Malaysia only. No volume is stated, since participants route their own traffic through the network.
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