Payments Network Malaysia Sdn Bhd (PayNet) has introduced the PayNet Fintech Hub, the nation's first accelerator and community hub dedicated entirely to fintech innovation. This initiative aims to accelerate the growth of Malaysia's fintech industry by offering startups access to funding, mentorship, strategic collaborations, and global market exposure.
The hub is built on two main pillars: Community and Catalyst. The Community programme gives members over 450 hours of mentorship, opportunities to connect with industry leaders and fintech founders, and access to investors. Participants also receive benefits such as RM1 million in PayNet credits, RM600,000 worth of advisory services, up to RM3 million in cloud credits, and complimentary co-working space—all aimed at lowering operating costs and supporting business expansion.
Top performers in the Community programme will be selected for the exclusive Catalyst programme. This 10-week accelerator, held in collaboration with Imperial College London, includes mentoring from academic experts, a one-week immersion experience in London, and a demo day attended by global investors and potential partners.
PayNet has also strengthened its partnership with Amazon Web Services (AWS), allowing Catalyst participants to tap into cloud resources from AWS's new Asia Pacific (Malaysia) region. These startups will also be eligible to join a Fintech Innovation Sandbox to further test and scale their products.
Group CEO Farhan Ahmad stated that the PayNet Fintech Hub is a strategic move to foster a more cohesive and innovation-focused fintech landscape in Malaysia, helping startups advance beyond the early stages and boosting the country's standing as a fintech hub in Southeast Asia.
Startups can register their interest on the programme's official website, with applications for the Community programme closing on 5 June 2025.