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Event File FINTECH Digital Payments

Wise Connects Directly to Malaysia’s PayNet Network

1 reports · First detected 2026-07-30 · Last active 2026-07-30

Payments Network Malaysia Sdn Bhd, or PayNet, operates Malaysia’s national payments network and shared financial-market infrastructure, with Bank Negara Malaysia as its largest shareholder. Its DuitNow system supports round-the-clock instant transfers using identifiers such as mobile numbers, identity documents and business registration numbers, making it a core rail for everyday digital payments and an increasingly important gateway for cross-border money flows.

Wise said on July 30, 2026, that it had connected directly to PayNet, enabling native access to the DuitNow payment system. The integration reduces reliance on intermediaries when routing funds into Malaysia and is expected to improve processing speed, reliability and operational control for local and cross-border transfers. Wise and PayNet did not disclose an investment amount, transaction targets or other commercial terms.

All Coverage

1 original reports
FINEXTRA.COM 2026-07-30
Wise connects directly to PayNet, Malaysiaʼs national payments network

The Backstory

The history behind this event
Wise Cuts Cross-Border Payment Costs Through Direct Clearing Links2026-07-18 · 1 reports · similarity 0.82

Cross-border money transfers have long relied on traditional correspondent banking networks, resulting in high fees and slow processing. Fintech giant Wise connects directly to domestic clearing networks, including the Bank of Japan's clearing system, bypassing traditional partner banks and providing liquidity more quickly. The model is disrupting conventional cross-border payments and sharply reducing transaction costs. It is also central to Wise's strategy for building a competitive moat and attracting global investors.

Wise reported fiscal 2026 results on June 25, 2026, showing full-year cross-border volume of $243.4 billion, up 31% year on year, and 19 million customers. In its latest quarterly results, released on July 16, net revenue rose 25% from a year earlier to $714 million. The figures show that its strategy of bypassing banks and connecting directly to local clearing networks has translated into rapid growth.

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