Payments Network Malaysia (PayNet) has revealed that it processed 8.44 billion digital payment transactions in 2025, reflecting continued growth in cashless adoption across the country. The figures cover everyday use cases such as retail purchases, transportation, peer-to-peer transfers, and small business payments.
The company said the increase aligns with national efforts led by Bank Negara Malaysia to strengthen Malaysia’s digital payments ecosystem under its Financial Sector Blueprint 2022–2026. The initiative places emphasis on accessibility, security, and infrastructure reliability.
Growth Driven By Banks And Non-Bank Players
Transaction growth in 2025 was supported by stronger participation across both traditional financial institutions and newer fintech players. PayNet reported that transactions conducted by banks rose by 30.69% year-on-year, while non-bank participants recorded a sharper increase of 71.7%.
According to company CEO Praveen Rajan, the upward trend reflects a broader shift in how Malaysians manage money. “The continued growth in digital payments reflects a broader shift in how Malaysians move and manage money in their daily lives,” he said, adding that digital payments are increasingly becoming the preferred method locally.
DuitNow QR Expansion Surpasses Three Million Touchpoints
PayNet adds that the expansion of acceptance points also played a key role in driving usage. In 2025 alone, 681,250 new DuitNow QR touchpoints were introduced nationwide, including 267,780 among micro, small and medium enterprises (MSMEs).
This brings the total number of registered DuitNow QR acceptance points to over three million across Malaysia. The wider availability of QR-based payments has made it easier for both businesses and consumers to adopt cashless transactions in everyday scenarios.
The company also highlighted strong growth outside major urban centres, particularly in Terengganu, Kelantan, and Kedah. In these states, non-urban transaction volumes tripled year-on-year, suggesting that digital payment adoption is expanding beyond city areas. PayNet noted that activity tends to peak during festive periods and year-end holidays, contributing to an average increase of 6.3 million transactions per day compared to 2024.
Opinion: Not Entirely Flawless
Despite the strong growth in adoption, the increasing reliance on infrastructure operated by PayNet also introduces a different set of risks. When centralised payment rails like DuitNow and MyDebit experience issues, the impact is rarely isolated and can affect multiple banks, e-wallets and services simultaneously.
There have already been several instances highlighting this vulnerability, with disruptions typically preventing users from completing transfers or QR payments. While cashless payments remain convenient and widely adopted, it is advisable to keep some physical cash on hand as a practical fallback during unexpected outages.
(Source: PayNet press release)
