With a goal of reaching 1 million transactions over the next three years, the programme strategically focuses on attaining a 15% share from sub-urban areas. This targeted approach aims not only to achieve the overall transaction milestone, but also to address the specific objective of bridging the gap and create a more inclusive financial landscape for all.
This collaboration utilises NEXEA's Startup ecosystem experience and network to find and match entrepreneurs with PayNet and Corporate partners for new markets, partnerships, joint ventures, investments, and acquisitions. Joining the programme provides Startups with up to RM 2,000,000 worth of benefits. The top Startups will earn up to RM 100,000 in a shared subsidy pool provided by PayNet as transaction fee rebate, and gain access to NEXEA's Entrepreneurs Programme for 12 months. In addition, the qualified Startups will have the opportunities to collaborate directly with PayNet, providing them with access to 22 million bank and e-wallet users, as well as a green lane to any eligible startup accelerator by NEXEA.
"PayNet is at the forefront of driving innovation and growth within the financial sector, and our partnership with NEXEA marks a significant leap forward in this journey. This collaboration is more than a milestone; it represents a strategic gateway to unlocking unprecedented opportunities in financial services. By joining forces with NEXEA, PayNet reaffirms its commitment to nurturing home-grown fintech startups, accelerating the digital transformation of Malaysia's financial landscape. Our concerted efforts are particularly focused on enhancing payment solutions in underserved and rural communities, directly contributing to the national agenda of digitalising the financial sector as outlined in the Financial Sector Blueprint 2022–2026. This partnership exemplifies our dedication to creating meaningful connections with payment-centric firms that not only align with our strategic vision but also profoundly resonate with our stakeholders' aspirations. As the trusted enabler, PayNet is poised to lead the way in shaping a more inclusive, efficient, and innovative financial ecosystem," stated Gary Yeoh, Chief Commercial Officer of PayNet.
The programme follows a 5-months timeline with specially tailored workshops by Corporate experts to help streamline the Startup's development. These are Corporate innovation experts from NEXEA that have advised more than 20 large Corporates nationally to drive their open innovation initiatives. Payment-related Startups that focus on facilitating payments in rural areas, ESG (International standard) and Financial Literacy are highly recommended to sign up. The selected Startups will undergo a series of Startup Interviews, Corporate Innovation Workshops, Startup Corporate Matching, Demo Day and networking events with PayNet and other Corporate partners.
"Strategic alliances with Startups drive successful Corporate evolution. Recognising innovation as the key to sustained growth, top Corporates actively collaborate to bring in fresh perspectives, leverage cutting-edge technologies, and adopt novel business models. This not only unlocks new revenue streams for Corporates but also drives true long-term sustainability, especially for Corporates in sunset industries," said Ben Lim, Founder & CEO, NEXEA.
Learn more about the programme here https://www.paynetaccelor.com
About NEXEA:
NEXEA is a Malaysian Venture Capital and Startup Accelerator firm specializing in supporting and funding technology companies that can potentially be the next technology giants. NEXEA also has services for investors and Corporates that want to invest or work with future technology giants.
NEXEA is known for its mentors who are successful ex-entrepreneurs or C-levels who own or sell their businesses (IPO, M&A). The combination of experienced mentors, experts, and partners proves potent as the top companies out of 35+ Startups invested by NEXEA have grown 3 to 16 times yearly. NEXEA is based in Bandar Sunway, Selangor. For more information, visit us at www.nexea.co.
About PayNet:
As the national payments network and a pivotal infrastructure for Malaysia’s dynamic financial markets, PayNet is a linchpin in advancing the nation’s digital economy.
Our comprehensive suite of retail payment solutions - encompassing DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) - not only offer wide accessibility but are seamlessly integrated into the fabric of daily life in Malaysia. These services have revolutionised the way Malaysians handle financial transactions, marking a significant leap in consumer convenience and efficiency.
At PayNet, our focus is on providing a safe, efficient, and innovative payments system. We are dedicated to improving and managing payment services that meet the evolving needs of consumers and businesses. Our work ensures the stability and reliability of Malaysia’s financial system, supporting the growth of the economy.
Learn more about our work and how we are contributing to Malaysia's financial future at www.paynet.my. Join us in embracing digital payments and advancing Malaysia's financial landscape.
Media Contact Person:
Soo Shee Chien
sheechien@nexea.co
Marketing Executive, Nexea
Razaleigh Zainal
Director, Brand & Communications, PayNet
