RHBPay launches as Malaysia expands digital payment connectivity
RHB Banking Group has launched RHBPay, the first bank-owned integrated payment gateway in Malaysia, developed in partnership with PayNet. Bank Negara Malaysia outlined value creation, inclusion and trust as three core principles guiding national payment innovation.
From island merchants to regional rails
RHBPay consolidates multiple payment options onto a single platform to streamline merchant operations.
The system builds on widespread digital adoption, with over three million DuitNow QR touchpoints linked to 50 million ASEAN merchant touchpoints.
Local initiatives show measurable gains, including sales growth of up to 50 percent among small merchants in the Cashless Redang project.
Furthermore, the e-Duit outreach program has conducted more than 100 sessions since 2022, onboarding over 10,000 merchants across rural areas.
In wholesale finance, three participants in the Digital Assets Innovation Hub are testing use cases for ringgit stablecoins and tokenised deposits in corporate treasury and settlement.
Multilateral links and predictive fraud controls
Payment integration is moving toward multilateral infrastructure through Project Nexus, which covers jurisdictions representing almost a quarter of global population.
Domestically, open finance will enter a pilot phase next year to broaden consumer choice and data control.
To secure the ecosystem against fraud, the National Fraud Portal will deploy predictive analytics for automated scam detection.
Bank Negara Malaysia highlighted that the adoption of artificial intelligence requires rigorous oversight, transparent governance and continuous public education.
Solid rails, untested frontiers
Malaysia's payment infrastructure successfully bridges local retail gaps and cross-border QR networks.
Yet expanding into tokenised wholesale deposits and artificial intelligence brings operational risks that merchant outreach cannot address.
Clear supervisory boundaries must accompany this rapid technological broadening.