Payments Network Malaysia (PayNet) has announced a leadership transition, confirming that Group CEO Farhan Ahmad will step down from his role on 31 January 2026.
Praveen Rajan, currently Chief Consumer Business Officer at CelcomDigi Berhad, has been appointed CEO-Designate effective 1 December 2025.
According to PayNet, Farhan has led the organisation since early 2022 through a period of significant growth and transformation.
During his tenure, transaction volumes rose 275% from three billion to over eight billion a year, while the DuitNow real-time payments infrastructure was positioned among the most advanced globally.
He also oversaw flagship initiatives such as PayNet Cambah, which supports digital prosperity for underserved communities, and PayNet Akar, which develops future-ready digital skills for Malaysian youth.
Praveen brings more than two decades of experience in mobile telecommunications and digital industries, including work in regulated, tech-driven transformations, consumer strategy and innovation.
Dato’ Izzaddin Idris, Chairman of PayNet, said,
“On behalf of the Board of Directors, I wish to thank Farhan for his exceptional leadership and unwavering commitment to advancing Malaysia’s national payments infrastructure, the core mandate of PayNet. We also look forward to welcoming Praveen as CEO-Designate.
His experience in digital transformation and customer-centric growth will be invaluable as PayNet enters its next phase.”
Farhan Ahmad added,
“It has been an honour to serve at the helm of PayNet.
I am proud of what we have achieved together, and I look forward to seeing PayNet continue to succeed in the years ahead, while I pursue the next chapter of my personal journey.”
PayNet said the leadership transition will be carefully managed over the coming months to ensure a smooth handover, with the leadership team maintaining focus on executing the company’s strategic roadmap.
Featured image: Edited by Fintech News Malaysia, based on image by mkmult via Freepik
