Alibaba Cloud has partnered with Payments Network Malaysia (PayNet) as a cloud partner for the newly launched PayNet Fintech Hub.

The hub is described as Malaysia’s first fintech-focused community and accelerator.

It aims to drive the growth of local fintech startups by providing access to funding, industry connections, and technical resources.

Alibaba Cloud will contribute through its Startup Catalyst Program, offering up to US$120,000 in cloud credits, discounted technical support, a 12-month Cloud Academy membership, and access to the AI Alliance Community.

“Malaysia’s fintech ecosystem is expanding rapidly, and we are excited to support this growth by equipping startups with the cloud infrastructure, AI tools, and global connectivity they need to scale.

Through our advanced cloud infrastructure and AI capabilities, we are committed to shaping the future of intelligent fintech in Malaysia.”

said Kun Huang, General Manager of Malaysia, Alibaba Cloud Intelligence.

“Having Alibaba Cloud as a Cloud Partner for the PayNet Fintech Hub empowers participating Malaysian fintechs with access to world-class tools, technical expertise and global exposure.

This partnership will help accelerate the growth of Malaysia’s fintech ecosystem, creating new opportunities for startups to innovate and scale faster and smarter, as well as compete on a global level.”

said Gary Yeoh, PayNet’s Chief Marketing Officer.