KUALA LUMPUR (Feb 4): Payments Network Malaysia Sdn Bhd, the operator of DuitNow QR payment system, has formally appointed Praveen Rajan as its chief executive officer, effective Feb 1.
He succeeds Farhan Ahmad, who stepped down on Jan 31, the national payments infrastructure company also known as PayNet said in a statement. Praveen joined PayNet as CEO-designate on Dec 1, 2025, as part of a planned leadership transition.
Praveen said he aims to build on PayNet’s existing strengths by “executing with greater discipline and clarity, enhancing operational resilience and stability, and deepening engagement with industry players and partners across key sectors to advance Malaysia’s digital economy”.
Prior to joining PayNet, he was the chief consumer business officer at CelcomDigi Bhd (KL:CDB).
PayNet, set up in 2017, is 35.5% owned by Bank Negara Malaysia. Apart from the central bank, 11 Malaysian financial institutions are shareholders in PayNet, including the country’s largest bank by assets Malayan Banking Bhd (KL:MAYBANK).
“PayNet plays a critical role in the daily lives of Malaysians and in the country’s financial system,” he said. “Over the past two months, I have worked closely with a strong and committed team, and I am stepping into this role with deep respect for the work already underway.”