ADVERTISEMENT

MyClear, MEPS merge to form PayNet


  • Banking
  • Monday, 22 May 2017

PayNet will be jointly owned by BNM and the financial services industry, says Muhammad.

PayNet will be jointly owned by BNM and the financial services industry, says Muhammad.

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) wholly-owned subsidiary, Malaysian Electronic Clearing Corp Sdn Bhd (MyClear), has merged with Malaysian Electronic Payment System (MEPS) to form Payments Network Malaysia Sdn Bhd (PayNet).

BNM governor Datuk Seri Muhammad Ibrahim said PayNet would serve as the operator of a shared payments infrastructure for wholesale and retail payment transactions in Malaysia.

Banking , Bank Negara Malaysia

   

ADVERTISEMENT