22nd February 2022 - 2 min read
Payments Network Malaysia (PayNet) has launched a three-month Fintech ePayment Accelerator Programme, which seeks to support fintech companies that are interested in advancing the adoption of e-payments within the country.
According to a statement by PayNet, the programme will require applicants to pitch ideas and solutions that focus on the three following matters, namely:
Fintech companies that are successful in their enrolment into the programme will be awarded a grant of up to RM500,000 to support the execution of their ideas. They’ll also have the opportunity to work with PayNet’s extensive ecosystem of banks, e-wallets, and third-party acquirers.
Application for the programme is open from now until 30 April 2022, and interested parties can submit their proposals online via the official Fintech ePayment Accelerator Programme website. “Submissions should consist of a pitch deck or a video presentation addressing the problem statement and include an introduction of the team,” PayNet said, adding that each participant can submit more than one proposal.
Moreover, PayNet stated that shortlisted applicants will advance to a pitching session in June 2022, where they must then convince a panel of judges to allow them to progress to the proof-of-concept (POC) stage.
The chief executive officer of PayNet, Peter Schiesser commented that this programme is both timely and relevant in its launch as Malaysia strives to transition towards a digital economy. “I urge potential fintechs to seize this opportunity to showcase their solutions and participate in expanding the country’s digital ecosystem and advancing financial inclusion,” he said.
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