Fintech and payments news from Malaysia.
Fitch estimates Malaysia’s Islamic finance industry is now worth more than US$800 billion, while Bank Negara Malaysia urges banks to turn tokenised sukuk pilots into everyday deals. A tokenised retail savings sukuk in Budget 2027 could bring the technology to ordinary savers.
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Maybank now lets eligible Singapore companies open a ringgit current account, so they can hold ringgit and pay Malaysian suppliers without last-minute currency conversions. It follows OCBC letting Singapore savers hold up to RM50,000, as banks chase growing flows across the Causeway.
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PayNet has switched on outbound DuitNow QR payments through Ant International’s Alipay+, letting Maybank, CIMB and Hong Leong Bank customers scan and pay in China, Hong Kong, South Korea, the Philippines and Laos straight from their Malaysian banking apps, with Bank Islam joining soon.
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Maybank Islamic and Credit Guarantee Corporation Malaysia have launched what they call Malaysia’s first supply chain financing guarantee scheme anchored by mid-tier companies, letting MSME suppliers receive early payment on approved invoices instead of waiting for buyers to pay.
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Bank Negara Malaysia has replaced its 2019 rulebook for the electronic platforms banks and brokers use to trade ringgit FX and short-term funding. The new framework, effective 1 November 2026, sets approval, audit, resilience and conduct standards for operators.
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AEON Bank has added Financial Purr-Sona to its Neko Sensei AI coach. It scores saving, spending, planning and repayment habits, assigns one of four personas and offers free budgeting tips, with small vouchers to get Malaysians started.
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Online scam losses in Malaysia nearly doubled to RM2.97 billion in 2025, with Selangor and Kuala Lumpur hit hardest. Bank Negara’s Governor says faster fund tracing, tighter online banking security and clearer bank warnings must be matched by users who pause before sending money.
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Singapore POS firm Qashier has launched QashierGM, a free AI assistant that answers merchants’ questions on sales and payouts and makes approved menu and price changes. It plans to bring the tool to Malaysia, Thailand and the Philippines in November.
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Malaysian eKYC provider Innov8tif has linked its EMAS platform to MyDigital ID, letting banks, e-wallets, insurers and telcos check new customers against National Registration Department records to block deepfakes, synthetic identities and forged MyKads during online sign-up.
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IF Security Solution has opened a smart card production and personalisation centre in Petaling Jaya that can make up to 80 million bank and SIM cards a year. It targets about RM104.5 million in annual revenue and aims to serve banks, fintechs and telcos at home and abroad.
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