Payments Network Malaysia (PayNet) and Swipey Digital Services (Swipey), two fintech companies in Malaysia have teamed up to encourage digital payments among small and medium-sized businesses (SMEs).
This partnership adds DuitNow QR to it’s financial platform, giving businesses an easy, cashless way to replace old petty cash systems.
With over 2.5 million DuitNow QR touchpoints across the country this effort boosts Malaysia’s digital growth. It helps SMEs manage transactions more efficiently and improve financial automation.
This collaboration also supports the MyDigital Blueprint, which aims to increase productivity by 30% across all business sectors through digital adoption.
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By adding DuitNow QR to the Swipey app, SMEs will have better access to digital payments, reduce financial inefficiencies, and improve cash flow management.
Gary Yeoh, PayNet’s Chief Marketing Officer said, “This collaboration with Swipey represents a significant step forward in driving digital payment adoption among SMEs Our mission at PayNet is to create a seamless and secure payments ecosystem. Integrating DuitNow QR with Swipey’s financial automation tools will enable more businesses to thrive in a digital-first economy, By extending cashless solutions beyond our everyday consumers, we are closing the loop on full cashless adoption, accelerating the shift towards a fully integrated digital economy,”.
Meanwhile, Kalyana Mohan, Chief Executive Officer of Swipey, said that many businesses underestimate the long-term impact of finance automation, and it is essential for sustained growth “By integrating DuitNow QR into our platform, we are making it easier for SMEs to automate processes, improve cash flow visibility, and make smarter financial decisions faster,”.
About Payments
Payments Network Malaysia (PayNet) is the national system that supports Malaysia’s financial markets. PayNet’s goal is to create an inclusive, efficient, and accessible payment and financial system for the country. Instead of paying dividends to shareholders PayNet reinvests its profits to improve and strengthen Malaysia’s financial infrastructure.
About Swipey
Swipey helps bridge the gap between traditional financial services and what modern SMEs need. They focus on improving processes and eliminating inefficiencies to help transform SMEs in Southeast Asia.
