KUALA LUMPUR (Feb 26): Payments Network Malaysia Sdn Bhd (PayNet) recorded 58.7 million digital transactions across 44 universities last year, up from 24.4 million in 2024, under its PayNet Digital Campus 4.0 initiative.
Established in 2022, the PayNet Digital Campus programme aims to drive a sustained, campus-wide shift towards cashless behaviour by increasing digital payment usage among students, staff, campus merchants and nearby businesses.
Through the initiative, student representative councils (SRCs) spearhead campus-wide programmes, onboard surrounding merchants and drive sustained usage of digital payment platforms, including DuitNow QR, MyDebit, FPX and JomPAY.
“The importance is for us to get the student population, which represents the next generation of this country, to start getting used to digital payments from campus [itself]. It’s the first place where you learn how to live by yourself,” said Praveen Rajan, CEO of PayNet, during the media Q&A at the PayNet Digital Campus Summit 2026 on Feb 25.
The initiative also helps SRCs by strengthening their leadership, pitching, project anagement and talent development skills.
In doing so, it supports Malaysia’s national cashless agenda under the Malaysia Digital conomy Blueprint and Bank Negara Malaysia’s Financial Sector Blueprint, while enhancing inancial literacy and digital readiness within universities.
“What we did with the PayNet Digital Campus was to help students learn how to use digital ayments on campus. Through that, we extend the benefits beyond the university and its tudents, improving the surrounding economic ecosystem as well,” added Praveen.
Additionally, he said the initiative’s performance is measured through actual transaction data ather than self-reported figures.
“We track the actual digital transactions taking place within campuses. That is where our ttention lies, ensuring this does not become a mere reporting exercise where universities simply submit numbers. We are able to see how these transactions occur in real time and
how they grow year by year. That remains our primary focus,” he said.
Since its inception in 2022, PayNet Digital Campus has reached close to 600,000 students and more than 7,500 merchants nationwide.
In its fourth edition, 20 public universities in Malaysia, including Universiti Teknologi MARA, Universiti Putra Malaysia and Universiti Malaya, as well as 11 private institutions such as INTI International University, Universiti Tunku Abdul Rahman and Universiti Teknologi
Petronas developed and executed cashless campaigns tailored to their campuses.
The campaign period for PayNet Digital Campus 4.0 ran from September to December 2025.
“By embedding digital usage early, we are strengthening financial inclusion in line with Bank Negara Malaysia’s Financial Sector Blueprint and reinforcing long-term confidence in Malaysia’s payment infrastructure,” said Praveen.