Bank Negara Malaysia (BNM) has launched RENTAS+, an enhancement to its real-time gross settlement (RTGS) system that now enables continuous, 24/7 interbank fund transfers and settlements.

According to the central bank, this makes RENTAS the first RTGS system in the ASEAN region to offer round-the-clock service.

The upgrade is a response to the rapid growth in retail payments, with daily transaction volume and value having grown by 49% and 22% respectively since 2024.

Previously, the old system settled retail payments twice daily on a deferred net basis, a method that carried inherent credit and settlement risks between banks.

RENTAS+ now largely eliminates these risks by settling retail transactions from services like DuitNow on a gross basis immediately after a customer completes each transaction.

To support this, BNM has also introduced a 24/7 automatic liquidity facility.

Bank Negara Malaysia Governor Dato’ Sri Abdul Rasheed Ghaffour said the launch was part of a multi-year modernisation plan for the system.

“RENTAS+ strengthens the resilience of Malaysia’s financial market infrastructure, while providing a secure, scalable, and flexible settlement platform for future innovations,” he stated.

RENTAS, which stands for Real Time Electronic Transfer of Funds and Securities, was launched in 1999 and is a critical part of Malaysia’s financial infrastructure.

In 2024, the system settled transactions amounting to RM73.63 trillion, equivalent to 45 times Malaysia’s GDP.

Featured image: Edited by Fintech News Malaysia based on an image by muravev via Freepik.