Aleta Planet has secured two new Bank Negara Malaysia licences, allowing it to expand beyond card acquiring into remittance and e-money services.
The Money Services Business Class B and E-Money Issuer licences add to its existing merchant acquirer licence in Malaysia, which allows the company to process credit and debit card payments.
The Singapore fintech noted that the approvals will support its Malaysia expansion, where it plans to establish its second ASEAN hub after Singapore.
Ryan Gwee, Founder and Group Chairman of Aleta Planet, said,
“Securing this approval from Bank Negara Malaysia is a key milestone for Aleta Planet as we expand our footprint in the region. As a licensed e-money issuer and merchant acquirer, we can now offer a more complete payments solution.
Together with our remittance capabilities, this strengthens our ability to support cross-border trade and deliver a more seamless payment experience for businesses and consumers in Malaysia.”
Aleta Planet Malaysia plans to serve Chinese investors and tourists entering Malaysia, as well as Malaysian exporters in sectors such as machinery, technology and agriculture.
The company aims to support international settlement and remittance flows linked to these segments.
Aleta Planet cited industry data showing that Malaysia’s digital payments transaction value is projected to reach RM1.13 trillion in 2026, while the country’s total trade value exceeded RM3 trillion in 2025.
It also noted that cross-border e-commerce accounts for nearly 40% of digital transactions, while non-bank e-remittance volumes grew 11% to RM14.1 billion annually.
Aleta Planet’s Malaysia expansion will focus on trade and travel flows between Malaysia and Singapore, cross-border payments involving Malaysia and China, including student remittances, and remittance and investment flows between Malaysia and other ASEAN markets.
Featured image: Edited by Fintech News Malaysia, based on image by ttonaorh via Magnific
