Author: Fintech News Malaysia

Merchantrade Money cardholders can now make contactless payments through Google Wallet and Samsung Wallet using their smartphones. The company said it is the first homegrown non-bank e-money issuer in Malaysia to support native tap-to-pay transactions across both wallets. Users can add their Merchantrade Money Visa Prepaid cards to either wallet and pay at contactless Visa terminals in Malaysia and overseas. Payments can be deducted from supported foreign currencies that users have converted in advance through the platform’s multi-currency wallet. Users will not incur foreign transaction fee markups when spending from those balances. The service can also be used on supported…

Bursa Malaysia led ASEAN in IPO activity with 36 listings that raised RM5.4 billion in the first half of 2026. The IPOs, spread across the Main, ACE and LEAP markets, added RM26.1 billion in market capitalisation during the six months ended 30 June. Bursa Malaysia raised its 2026 IPO market capitalisation target to RM34 billion from RM28 billion, citing its first-half performance and current listing pipeline. The exchange operator also reported a 15.2% increase in profit after tax, zakat and minority interest to RM144.6 million, from RM125.5 million a year earlier. Operating revenue rose 19.6% to RM411.7 million, driven mainly…

MediAsas is set for independent oversight as Bank Negara Malaysia (BNM) seeks to keep it affordable amid rising healthcare costs. An independent board representing several stakeholder groups will oversee the proposed framework, according to Bernama. BNM Deputy Governor Aznan Abdul Aziz noted that the framework would support regular reviews of MediAsas’ features and affordability as medical costs continue to rise. The base medical and health insurance and takaful product entered its pilot phase at the Sasana Symposium 2026 on 29 July. It remains on track for a public launch in January 2027. The pilot will test enrolment, underwriting, claims, guarantee…

Eligible government pensioners can receive their payments through TNG eWallet when they cannot access them through their existing bank accounts. TNG Digital is supporting a Public Service Department initiative that provides an alternative to conventional banking channels. This includes pensioners whose accounts have been frozen or restricted, including after they fall victim to financial scams. Eligible pensioners who select TNG eWallet under the initiative may also apply for a fee-waived TNG eWallet Visa Card. The card is linked to their TNG eWallet balance and can be used for cash withdrawals at ATMs and payments at Visa merchants worldwide. TNG Digital…

Ramssol has tapped CTOS to expand the reach of its earned wage access platform, Pay Day Now, according to a Bursa Malaysia filing. Under a two-year agreement signed on 28 July, CTOS Data Systems will introduce the platform to employers and clients within its network. Ramssol’s indirect wholly owned subsidiary Rams Fintech will onboard referred employers, operate the platform and support participating companies and employees. Pay Day Now allows employees to access part of their earned wages before payday. Rams Fintech will charge a withdrawal fee and pay CTOS a commission on qualifying referrals and transactions. The companies may also…

Bank Negara Malaysia (BNM) has fined The Pacific Insurance Berhad RM336,000 after its CEO position remained vacant for 16 months. The insurer did not have an approved CEO between 21 November 2024 and 23 March 2026, breaching a requirement under the Financial Services Act 2013 to maintain a CEO at all times. BNM attributed the breach to inadequate succession planning, which delayed the identification and submission of a suitable candidate for approval. Pacific Insurance appointed a representative during the vacancy, while its board continued to oversee operations. These measures prevented any material disruption to its day-to-day business. The insurer appointed…

Wise has connected directly to Malaysia’s PayNet network, enabling DuitNow QR payments and MYR transfers through its app. Malaysia is the ninth market globally and fifth in Asia Pacific where Wise has gained direct access to a domestic payment system. Its other connections include Singapore, Australia, the Philippines, Japan, the UK, Europe, Hungary and Brazil. Wise users in Malaysia can now scan DuitNow QR codes and pay directly through the app. The feature is being rolled out gradually and is expected to support all DuitNow QR codes nationwide in the coming weeks. Users can also make DuitNow transfers using a…

Bank Muamalat will launch a new Islamic credit card with profit rates starting from 14% per year and no annual fee. The Awwal Credit Card-i will apply profit on a non-compounding basis and carry no hidden charges. Customers who settle their full outstanding balance before the payment deadline will not incur any profit charges. The card will also include free takaful protection for outstanding balances at no additional cost. Bank Muamalat President and Chief Executive Officer Datuk Khairul Kamarudin said, “The Awwal Credit Card-i was developed based on the principle that credit facilities should be a tool to strengthen financial…

Maybank has put its name on Menara Merdeka 118 as the building becomes the group’s new headquarters. Its registered address is now Level 70, Menara Merdeka Maybank, Presint Merdeka 118, 50118 Kuala Lumpur. The bank has also renamed its former headquarters on Jalan Tun Perak from Menara Maybank to Menara Tun Perak. Both changes took effect on 28 July 2026. Maybank’s Kuala Lumpur Main Branch will continue operating from Menara Tun Perak until further notice. Existing accounts and banking services at the branch will not be affected. Featured image: Edited by Fintech News Malaysia, based on image by…

Bank Negara Malaysia (BNM) has set out three priorities for its upcoming Financial Sector Blueprint 2027–2030. BNM Governor Dato’ Sri Abdul Rasheed Ghaffour outlined the priorities during his keynote address at Sasana Symposium 2026. The blueprint will focus on finance for a more resilient society, finance for a more prosperous society and a future-proof Malaysian financial system. Dato’ Sri Abdul Rasheed also stressed the need to sustain reforms as Malaysia navigates an increasingly uncertain global environment. “Resilience is not about preserving things exactly as they are. It is about continually renewing our ability to adapt and seize new opportunities as…

More than 3,000 businesses are expected to benefit from a RM1.3 billion guarantee facility established by OCBC Malaysia and Credit Guarantee Corporation (CGC). The allocation raises the total guarantee coverage under their partnership to RM5.5 billion, The Sun reported. OCBC Malaysia and CGC had previously supported more than 10,000 SMEs through RM4.2 billion in CGC-backed Islamic and conventional financing. The new facility will be available to existing and prospective OCBC Malaysia customers, with a particular focus on Bumiputera businesses. It also includes a scheme for targeted segments under Bank Negara Malaysia’s SME Stabilisation Relief Facility. OCBC Malaysia CEO Tan Chor…

RHB cardholders can now receive discounts on selected Batik Air economy and business class fares. Eligible RHB Credit Card/-i and Debit Card/-i holders can get 15% off Economy Class Value and Flexi fares, as well as Business Class Value fares. A 25% discount applies to Business Class Flexi fares. The promotion is valid for bookings made until 24 July 2027, subject to the applicable terms and conditions. Jeffrey Ng Eow Oo, Managing Director of Group Community Banking at RHB Bank, said “Travel remains an important priority for many Malaysians, whether for business, leisure or family commitments. Through this collaboration, we…

Bank Rakyat and Paysys by NTT DATA have launched an Android payment soundbox for Malaysian SMEs. The device combines digital payment acceptance, real-time voice notifications and digital receipts in a single terminal. Powered by the Kozen N2 Android EMV device, it supports Visa, Mastercard, MyDebit, e-wallet and contactless payments. Merchants receive an instant voice notification after each successful transaction, providing immediate payment confirmation. The device is designed to help MSMEs manage digital payments more easily while improving transaction visibility and operational efficiency. Ahmad Shahril Mohd Shariff, Group Chief Executive Officer of Bank Rakyat, said, “Through our collaboration with Paysys, we…

CTOS Digital has agreed to sell a 10% stake in Juris Technologies to its initial and majority shareholder Natsoft for RM50 million. The CTOS stake sale will reduce its holding in the software developer from 49% to 39%, with Juris remaining an associate after completion. CTOS acquired its 49% interest for RM205.8 million in March 2022. The sale price is based on an agreed RM500 million valuation for Juris, equivalent to 17 times earnings based on its audited 2025 accounts. Juris recorded nearly RM30 million in profit after tax and net assets of RM69.6 million that year. The stake being…

Maybank users in Malaysia are the first in the country to make QR payments through Samsung Wallet. Eligible Galaxy users can launch Maybank’s MAE Scan & Pay from the digital wallet before completing transactions through the banking app. The service supports QR payments in Malaysia, Singapore, Thailand, Indonesia and Cambodia. The feature began rolling out on 21 July 2026 and is available on eligible Samsung Galaxy smartphones with the latest wallet and software updates. Charles Kim, President of Samsung Malaysia Electronics, said,  “Our partnership with Maybank represents a significant step forward in expanding the Samsung Wallet ecosystem in Malaysia. By…

MBSB Bank is widening access to general takaful with three products from Zurich General Takaful Malaysia. The bancatakaful partnership will offer Shariah-compliant protection for homeowners, individuals, families and businesses through MBSB Bank’s branch network and customer ecosystem. The initial offering includes Zurich Homeowner Premier Takaful, which protects residential properties and household contents against unexpected events. Zurich MBSB GPA Takaful allows businesses and organisations to provide employees with financial protection in the event of accidental death, disablement or injury. Personal Sentinel V3 Plus Takaful offers financial support to individuals and families following unforeseen accidents. Rafe Haneef, Group Chief Executive Officer of…

Maybank and the Credit Guarantee and Investment Facility (CGIF) have agreed to widen funding options for issuers across ASEAN+3, The Edge reported. The MoU covers new financing solutions and capital market instruments, including digital bonds, Islamic finance, sustainable finance and transition finance. The two organisations will also explore funding for energy transition projects, the digital economy and digital infrastructure. Other areas include capacity building and helping issuers access more diverse sources of capital. CGIF is a trust fund of the Asian Development Bank that supports local currency bond issuance through credit guarantees. The agreement builds on previous bond and sukuk…

MBSB has sold its 100 percent stake in MIDF Amanah Asset Management (MAAM) to Tortoise Works. The financial terms of the deal were not disclosed. The sale was completed through its wholly owned subsidiary Malaysian Industrial Development Finance Berhad (MIDF) on 23 July 2026. The group said the divestment supports its strategy to focus on its core businesses and is not expected to have a material financial impact. The Securities Commission Malaysia approved the transaction on 9 July 2026. “Sharpening our focus on core banking means being deliberate about what sits outside it. MAAM has built a respected name over…

CGC Digital and Credit Bureau Malaysia are exploring new credit risk tools to help Malaysian MSMEs prepare for financing. The companies signed a MoU to combine CGC Digital’s digital reach with Credit Bureau Malaysia’s credit information and risk analytics capabilities. The partnership will examine the development of credit risk models and analytical solutions that could provide a clearer view of MSME needs and support financing decisions. Both organisations also plan to run education and outreach initiatives to help business owners understand their credit position and the support available to them. “Many MSMEs struggle not just to access financing, but to…

The Securities Commission Malaysia (SC) and the Securities and Futures Commission of Hong Kong (SFC) have signed a MoU to establish a mutual recognition framework for funds and a simplified dual IPO framework. The agreement aims to broaden investment opportunities, expand access to capital, and deepen cross-border market participation between both jurisdictions. Expanding cross-border fund access Under the MoU, the mutual recognition of funds scheme now covers futures-based ETFs, leveraged and inverse ETFs, commodity ETFs, and listed REITs. Eligible ETFs and listed REITs approved in either market may be offered to investors in the other jurisdiction. They can do so…