KUALA LUMPUR: RHB Bank
Bhd sees artificial intelligence (AI) as a key driver of merchant payments after launching its unified payment gateway, RHB Pay, with reconciliation automation as its first AI use case.
According to RHB head of group transaction banking and group wholesale banking Dev Raaj Shanmugam, RHB’s initial focus for AI is reconciliation, as it addresses one of the most critical pain points for merchants today.
“As our AI capabilities evolve, we will extend them to predictive analytics, enabling merchants to leverage historical payment data for forecasting and better decision-making.
“This is a key part of our roadmap, and we believe AI will play a significant role in improving merchant services.”
Yesterday, the lender launched RHB Pay, Malaysia’s first bank-owned unified online payment gateway, providing businesses a single platform to accept digital payments and receive funds directly into their RHB accounts.
Built, owned and operated entirely within RHB, the platform facilitates bank-grade security, automated reconciliation, enhanced cash flow visibility and faster access to funds.
In hindsight, Dev said payment issues have far-reaching implications for merchants, extending beyond operational inefficiencies to erode customer trust and confidence, while also resulting in lost sales.
“Many of these challenges include payment failures, interruptions, limited payment choices, manual reconciliations and delayed settlement,” he pointed out.
That said, Dev noted global eCommerce is projected to more than triple, reaching approximately US$156 trillion by 2033.
“This growth reflects a fundamental shift in customer expectations.
“As digital transactions continue to rise, businesses will need to deliver payment experiences that are secure, seamless, fast and built on trust,” he explained.
Confident in AI’s potential, RHB group managing director and group chief executive officer Datuk Mohd Rashid Mohamad said the platform took over a year to develop, with its primary objective of delivering a seamless and efficient customer experience.
“Going forward, the focus is on digitalisation and building a future-ready payment infrastructure, particularly as AI continues to reshape the industry.
“Technology is evolving rapidly, so we have developed a single integration layer that allows merchants to connect through one channel, while leaving the complexity of integrating multiple payment methods to the bank.
“This ensures a seamless experience today and makes it easier to support new payment channels as they emerge,” he said.
He shared that alongside its key strengths, the platform allows customers real-time visibility of their settlement status, which provides greater transparency and control over their transactions.
“In short, this solution is intended to benefit businesses of all sizes,” Mohd Rashid told reporters yesterday.
He also noted that the bank has onboarded 20 customers in the pilot phase, while others have expressed keen interest in joining the platform.
In a statement, RHB highlighted that the platform enables businesses to accept card payments, FPX and DuitNow Pay through a single integration.
It pointed out that RHB Pay’s phase two is expected to include more payment capabilities, including e-wallets, QR payments, direct debit and auto debit, targeted for rollout in the fourth quarter of financial year 2026.
RHB Pay is designed for mid-sized enterprises, commercial businesses, corporates, and government-related institutions seeking a streamlined and scalable payment acceptance solution, it said.
According to the bank, Malaysia’s digital payments ecosystem continues to experience strong growth, with Bank Negara Malaysia reporting a 25% surge of individual digital transactions from 14.7 billion in 2024 to 18.4 billion in 2025.
It noted that with the integration of PayNet’s payment infrastructure, including FPX and DuitNow Pay, businesses can participate in the expanding digital economy with access to a secure and seamless payment acceptance experience.
“As a bank-owned solution, RHB PAY offers businesses greater assurance over the security of their funds and payment data,” Mohd Rashid said.
“Backed by RHB’s banking infrastructure, governance standards and regulatory oversight, the platform enables businesses to transact with confidence, while staying focused on growing their business.”
