PayNet Malaysia Appoints Praveen Rajan as New CEO to Strengthen Digital Payments and Financial Inclusion

Malaysia's Payments Network Malaysia Sdn Bhd (PayNet), the national payments infrastructure, has officially appointed Praveen Rajan as its Chief Executive Officer effective February 1, 2026.

Rajan, who joined as CEO-Designate on December 1, 2025, succeeds Farhan Ahmad following a meticulously planned leadership transition announced in September 2025.

Smooth Handover Ensures Continuity

The two-month designate period allowed Rajan to collaborate closely with Ahmad and the leadership team for a seamless handover.

Farhan Ahmad's tenure marked a phase of significant growth, solidifying PayNet's position as Malaysia's shared payments infrastructure.

Praveen Rajan's Proven Expertise

Rajan brings extensive experience in leading large-scale, mission-critical, and regulated organizations, with expertise in digital transformation and operational resilience.

"Over the past two months, I have worked closely with a strong and committed team, and I am stepping into this role with deep respect for the work already underway," Rajan stated.

PayNet Chairman Izzaddin Idris welcomed the appointment, noting the early announcement enabled stability as PayNet executes its mandate.

Unwavering Strategic Focus

PayNet's priorities remain steadfast on reliability, security, financial inclusion, fraud prevention, and advancing Malaysia's digital payments ecosystem.

Rajan aims to build on these foundations by executing with discipline, enhancing stability, and fostering deeper engagement with industry partners.

The PayNet Fintech Hub currently supports 50 fintechs, providing over $1.23 million in value-added assistance.

This leadership change positions PayNet to further propel Malaysia's digital economy amid rising demands for innovative payment solutions.