PayNet Aims to Bring Digital Payments to Rural Communities


PayNet (Payments Network Malaysia), in collaboration with BizApp and CommercePay, launched the ‘Go Cuba Bizappay with FPX’ campaign, a transformative initiative designed to bring digital payment solutions to the often-neglected suburban and rural communities in Malaysia. 

(Pic above – From left to right are BizApp CEO Mohd Taib Pardi, Commerce.Asia Group CEO Kuna Kathigesan, PayNet Chief Commercial Officer Gary Yeoh, BizApp Executive Director, Hasnol Mizam Hashim and PayNet Senior Director Azrul Fakhzan Mainor.)

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“This initiative is a strategic component of the national financial inclusion strategy endorsed by Bank Negara Malaysia and aligns with the nation’s vision to modernise payment systems,” the companies said in a statement.

“’Go Cuba Bizappay with FPX’ is a movement set to redefine transactional dynamics by bringing the speed, safety, and simplicity of digital payments to every corner of the country.” 

“Despite an impressive monthly Gross Merchandise Volume (GMV) of RM80 million, 95% of transactions are still conducted using traditional methods, COD and ATM cash deposits, with a mere 5% relying on FPX.”

The ‘Go Cuba Bizappay with FPX’ initiative, which spans five months from 15 September to 15 February 2024 is strategically aims to transform BizApp users from conventional Cash-on-Delivery (COD) methods and manual cash deposits at ATM machines to the streamlined, cashless convenience of FPX. This campaign, co-sponsored by PayNet and CommercePay offers waiver of FPX transaction fees to users. Participants also given the chance to win coveted prizes, including a Perodua Axia and Apple iPhones, sponsored by PayNet.

FPX is a direct-to-bank Internet payment gateway, which facilitates Internet payments and e-commerce purchases using savings and current accounts. FPX enables users to make payments for various purposes, including online shopping, bill payments, and e-commerce transactions.

Chief Executive Officer of Commerce.Asia Group, Kuna Kathigesan said, “As we move towards an increasingly digital world, it’s crucial to ensure that users from suburban and rural communities are accessible to the tools they need to thrive. Our aim is to provide fast funds settlement within one business day, enhancing the overall experience for everyone involved. Our role is to make sure the transition is seamless and beneficial for all stakeholders. That’s why we are working diligently to ensure sellers and agents to understand and experience the benefits of adopting FPX.”

Chief Executive Officer of BizApp, Mohd Taib Pardi said, “With this campaign, we are taking a bold step towards ensuring the benefits of digital payments are not confined to urban centers. Rural users deserve the same level of convenience and security. The waiver of FPX transaction fees is rewarding and encourage users in suburban and rural areas for transition to FPX. ‘Go Cuba Bizappay with FPX’ is just the beginning. We envision a future where even the most remote areas have access to the benefits of digital payments.”

Chief Commercial Officer of PayNet, Gary Yeoh said: “In Q1-Q3 of 2023, FPX processed 398 million transactions and collected payments in total of RM207.3 billion, making FPX as top real-time online payment gateway for e-commerce sites. In line with PayNet’s 5 Years Strategy, we are committed to work with regulators, financial institutions and businesses to accelerate financial inclusion for unserved and underserved communities. As such, we support and partner with BizApp and CommercePay, renowned fintech and e-commerce players, aiming to influence and transform the way in which traditional incumbents conduct their businesses towards secured, reliable and efficient cashless payments.”

BizApp and CommercePay, both are Commerce.Asia Group of Companies. The ‘all in one’ e-commerce group has been instrumental in reshaping the online business and e-commerce sectors in Malaysia and Southeast Asia. BizApp, a formidable presence in the e-commerce arena, boasts a network of 3,000 sellers and an extensive agent base of 700,000. CommercePay, an essential player in this collaborative endeavour, functions as the payment gateway, facilitating the BizApp platform’s seamless integration of e-payments. Working in close partnership with BizApp, CommercePay is committed to onboarding more sellers onto the FPX platform.

Bank Negara Malaysia (BNM) is PayNet’s single largest shareholder together with eleven Malaysian’s financial institutions. As the national provider of financial market utilities, PayNet aims to build inclusive, accessible and efficient payments and financial eco-systems for Malaysia. For more information, visit