Paydibs gains direct FPX access to boost payment efficiency

Paydibs has been onboarded as a Direct Third-Party Acquirer for the Financial Process Exchange by PayNet, enabling independent processing of FPX transactions.

Payments Network Malaysia, known as PayNet, has granted Paydibs direct TPA status for FPX, making the company one of only ten non-bank acquirers directly connected to the core FPX payment infrastructure. This arrangement permits Paydibs to process online banking payments on behalf of merchants without reliance on intermediary payment processors.

By overseeing FPX transactions directly, Paydibs aims to provide merchants with greater control over the payment lifecycle, including settlement and cost management. The move is positioned as an enhancement to transaction transparency and efficiency for businesses across Malaysia, covering both micro, small and medium-sized enterprises (MSMEs) and larger organisations.

"At the heart of this milestone is our commitment to building a more inclusive and resilient payments ecosystem. Being directly connected to PayNet allows us to offer merchants greater control, faster access to funds and enhanced features, aligning with our promise of Payment Inclusion. Beyond Transactions. This is a strategic step that strengthens our ability to deliver dependable, future-ready solutions," said Tee Kean Kang, Chief Commercial Officer of Paydibs.

Officials at Paydibs explained that the new status directly links the company's technical and operational frameworks to the national payment rails. This integration is expected to enable faster settlement times and more cost-effective processing for the network's merchants. By eliminating intermediary steps, Paydibs aims to simplify the transaction experience for Malaysian businesses involved in digital commerce.

The onboarding follows a period of expansion by Paydibs, including the release of its Paydibs NEO terminal, which consolidates multiple payment options - such as QR codes, card payments, Buy Now Pay Later, and a soundbox - into a single device. The intent is to help merchants simplify their point-of-sale experience by adopting a unified solution for in-store payments, rather than managing multiple devices.

Paydibs' work with MSMEs has also been recognised as part of the wider Digital Grant MADANI programme operated by the Bank Simpanan Nasional (BSN). Under this scheme, Paydibs functions as a Digital Partner, enabling qualifying Malaysian merchants to access subsidised rates for adopting digital payment tools. The aim of this partnership is to quicken the digitalisation of commerce in Malaysia and expand financial inclusion, particularly for smaller and growing businesses.

Looking to the future, Paydibs announced its intention to add embedded financing options to its service lineup, as well as to strengthen its integration with national payment systems. These future initiatives align with the company's stated focus on business continuity and operational efficiency.

The company affirmed that these developments reflect an ongoing strategy to implement payments solutions that promote merchant growth and stability in Malaysia's digital economy sector.