Malaysia’s Digital Payments Boom: PayNet Processes 8.44 Billion Transactions in 2025, Paving Way for Cashless Economy

Payments Network Malaysia Sdn Bhd (PayNet) processed a staggering 8.44 billion digital payment transactions in 2025, underscoring Malaysians' shift to cashless payments as the preferred method.

This milestone reflects explosive growth, with bank-led transactions surging 30.69% and non-bank volumes skyrocketing 71.7% year-over-year from 2024.

Drivers of Digital Payment Surge

The ecosystem added an average of 6.3 million extra transactions daily, peaking during festive seasons like year-end holidays.

DuitNow QR expanded with 681,250 new acceptance points, including 267,780 from MSMEs, pushing the national total beyond three million touchpoints.

Inclusive Growth Across Regions

Non-urban areas like Terengganu, Kelantan, and Kedah saw transaction volumes triple year-on-year, bridging the digital divide.

Initiatives such as PayNet Digital Campus and Cashless Boleh integrated digital payments into education and public services, boosting everyday adoption.

Security and Cross-Border Expansion

PayNet's National Fraud Portal identified 57,700 scam victims, safeguarding RM46 million in funds amid rising AI-driven threats.

Cross-border DuitNow QR transactions grew 2.5-fold to 29.7 million, with new linkages to Cambodia and upcoming India connectivity in 2026.

This aligns with Bank Negara Malaysia’s Financial Sector Blueprint 2022-2026, which has driven consistent double-digit growth since its inception.

Looking ahead, projects like ASEAN's Project Nexus promise seamless regional payments, supporting Visit Malaysia 2026 tourism boom.

PayNet CEO Praveen Rajan emphasized that innovation and collaboration are key to sustaining this momentum toward a fully inclusive digital economy.