Alibaba Cloud joins forces with PayNet to power Malaysia’s first fintech-focused hub

• Hub aims to boost fintech growth with funding, connections, and expertise
• Alibaba Cloud will help drive innovation & support Malaysia’s next-gen fintechs

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has announced its partnership with Payments Network Malaysia Sdn Bhd (PayNet) as a Cloud Partner for the newly launched PayNet Fintech Hub – Malaysia’s first dedicated fintech-focused community and accelerator.

Spearheaded by PayNet, the Hub aims to become a catalyst for Malaysia’s fintech sector by offering startups access to capital, industry networks, financial incentives, and global expertise. As one of the Hub’s key Cloud Partners, Alibaba Cloud will play a pivotal role in driving innovation and empowering the next generation of fintech players in Malaysia.

“Malaysia’s fintech ecosystem is expanding rapidly, and we are excited to support this growth by equipping startups with the cloud infrastructure, AI tools, and global connectivity they need to scale. Through our advanced cloud infrastructure and AI capabilities, we are committed to shaping the future of intelligent fintech in Malaysia,” Kun Huang, General Manager of Malaysia, Alibaba Cloud Intelligence said.

As part of the collaboration, startups and Fintech Hub Community members will have access to the Alibaba Cloud Startup Catalyst Programme, which offers:

• Up to US$120,000 (RM512,000) in cloud credits and three months of Global Technical Support for the price of one month
• A 12-month Alibaba Cloud Academy membership and access to the AI Alliance Community
• Invitations to strategic ecosystem events, including global startup showcases and investor engagements hosted by Alibaba Cloud

“Having Alibaba Cloud as a Cloud Partner for the PayNet Fintech Hub empowers participating Malaysian fintechs with access to world-class tools, technical expertise, and global exposure. This partnership will help accelerate the growth of Malaysia’s fintech ecosystem, creating new opportunities for startups to innovate and scale faster and smarter, as well as compete on a global level,” Gary Yeoh, Chief Marketing Officer of PayNet said.

This partnership reflects Alibaba Cloud’s broader vision to nurture a thriving AI ecosystem in Malaysia by equipping local innovators with world-class tools to lead on the global stage.