Payments Network Malaysia (PayNet) has recorded 24 million cashless transactions through its PayNet Digital Campus 3.0 (PDC3.0) initiative.
This marks a significant expansion in digital payments adoption among Malaysian universities.
The programme involved 30 higher education institutions, including 25 public universities and five private institutions.
PayNet disbursed RM1.02 million in sponsorship funds between August and September 2024, supporting digital payment initiatives ahead of the campaign period, which ran from October to December 2024.
Several universities, including Universiti Putra Malaysia, Universiti Malaya, Universiti Sultan Zainal Abidin, Universiti Malaysia Sabah, Universiti Kebangsaan Malaysia, and Universiti Teknologi Malaysia, received Special Recognition Awards for surpassing one million transactions during the campaign.
The highest-performing institution recorded 1.5 million transactions, while the most cost-efficient campaign reduced costs to RM0.05 per transaction.
The peak transaction per capita reached 66 transactions per student.
The initiative followed a “Shark Tank”-style format, where student councils pitched digital payment campaigns before implementation from October to December 2024.
Aligning with Bank Negara Malaysia’s Financial Sector Blueprint 2022-2026, the initiative aims to strengthen e-payment adoption and foster a “cashless-first” culture among university students.
At the PayNet Digital Campus 2025 Summit at Putrajaya Marriott Hotel, PayNet launched Digital Campus 4.0 (PDC4.0), which will continue the programme.
Registration is open for institutions with more than 3,000 students.
“The remarkable growth in transactions and participating institutions underscores the strong momentum towards Malaysia’s cashless transformation in the education sector. By championing cashless campuses, we are not only preparing students for a digital future but also fostering greater financial inclusion.
Empowering students with digital financial skills ensures that all learners, regardless of background, can participate in and benefit from Malaysia’s evolving digital economy. At the same time, we are creating safer, more efficient learning environments by reducing reliance on cash transactions.”
said Farhan Ahmad, Group Chief Executive Officer of PayNet.
“This initiative aligns with the country’s commitment to integrating technology into education, as well as Malaysia’s Digital Economy Blueprint, which envisions a nation empowered by seamless digital transactions.
As PayNet and its partners launch Digital Campus 4.0, I encourage more universities to embrace this opportunity and further accelerate our progress toward a cashless and digitally inclusive Malaysia,”
said YBrs. Datuk Prof. Dr. Azlinda Azman, Director General of Higher Education, Ministry of Higher Education.
