Payments Network Malaysia Sdn Bhd (PayNet) has officially announced the appointment of Praveen Rajan as it’s new Chief Executive Officer, effective 1st February 2026, marking a significant leadership milestone for Malaysia’s national payments infrastructure provider.
Praveen’s appointment follows a structured and carefully planned leadership transition, aimed at ensuring stability and continuity across Paynet’s critical mandate. The transition was first announced in September 2025, after which Praveen joined the organisation as CEO-Desigante on 1st December 2025. Over the past two months, he has worked closely with his predecessor and the PayNet Leadership Team to support a smooth and orderly handover.
Bringing with him extensive experience in leading large-scale, mission-critical and regulated organizations, Praveen is known for is strong track record in digital transformation, operational resilience and stakeholder engagement. His leadership comes at a time when PayNet continues to play a pivotal role in supporting Malaysia’s evolving financial ecosystem.
Despite the leadership change, PayNet’s strategic priorities remain unchanged. The organization will continue to focus on system reliability, security, financial inclusion, fraud prevention, and the ongoing advancement of the nation’s digital payments ecosystem. Welcoming the appointment, PayNet Chairman Dato’ Izzaddin Idris said the early announcement and transition period were instrumental in ensuring organisational continuity.
“The Board welcomes Praveen’s appointed as CEO, following the leadership transition announced last year. The early announcement and CEO-Designate period have enabled a smooth handover, allowing PayNet to move forward with stability and continuity as we execute our mandate,” he said.
Commenting on his new role, Praveen expressed his commitment to building on the foundation already in place at PayNet.
“PayNet plays a critical role in the daily lives of Malaysians and in the country’s financial system. 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. My focus is on building on these strengths to execute with discipline and clarity, strengthen operational resilience and stability, and engage more actively with industry participants and partners across relevant sectors to support the nation’s digital economy”
Praveen succeeds Farhan Ahmad, who concluded his tenure on 31st January 2026 after leading PayNet through a period of significant growth and further strengthening it’s role as Malaysia’s shared payments infrastructure. With this transition, PayNet signals a continued commitment to strong governance, steady leadership and long-term digital progress, as it moves forward in supporting Malaysia’s financial and digital economy landscape.
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