This appointment follows a planned leadership transition first announced in September 2025.
Rajan joined the national payments provider as CEO-Designate in December 2025, working alongside his predecessor to ensure an orderly handover.
He brings over 20 years of experience from the telecommunications and digital sectors, having most recently served as the Chief Consumer Business Officer at CelcomDigi Berhad.
His background includes significant work in digital transformation, regulated markets, and operational resilience.
Under the new leadership, PayNet’s strategic priorities remain focused on the reliability and security of Malaysia’s payment infrastructure.
The organisation will continue to prioritise financial inclusion, fraud prevention, and the expansion of the digital payments ecosystem.
Dato’ Izzaddin Idris, Chairman of PayNet, noted that the structured transition period provided the stability necessary for the organisation to maintain its mandate.
Dato’ Izzaddin Idris
“The early announcement and CEO-Designate period have enabled a smooth handover, allowing PayNet to move forward with stability and continuity,” he stated.
Commenting on his new role, Rajan emphasised the importance of PayNet to the national economy.
Praveen Rajan
“My focus is on building on these strengths to execute with discipline and clarity, strengthen operational resilience and stability, and engage more actively with industry participants,” he said.
Rajan succeeds Farhan Ahmad, who concluded his tenure on 31 January 2026.
During Ahmad’s leadership, PayNet saw a 275% surge in transaction volumes and the strengthening of the DuitNow real-time payment system.
The organisation also launched various national initiatives, including the National Fraud Portal and financial inclusion programmes such as PayNet Cambah.
Featured image: Edited by Fintech News Malaysia based on an image by mrsiraphol via Freepik.
