Alibaba Cloud, PayNet launch Malaysia’s first fintech hub

In a major boost for Malaysia’s rapidly evolving fintech sector, Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has announced a strategic partnership with Payments Network Malaysia Sdn Bhd (PayNet). The collaboration names Alibaba Cloud as a Cloud Partner for the newly launched PayNet Fintech Hub – the country’s first dedicated fintech-focused community and accelerator.

Spearheaded by PayNet, the Fintech Hub is envisioned as a catalyst for innovation in Malaysia’s financial technology space. The initiative aims to provide startups with crucial support in the form of capital access, industry networks, expert mentorship, and global connectivity.

“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,” said Kun Huang, General Manager of Malaysia, Alibaba Cloud Intelligence.

World-class cloud tools

As a key Cloud Partner, Alibaba Cloud will offer startup participants access to its Startup Catalyst Program, which includes a comprehensive package of incentives and technical support. These benefits are designed to help early-stage companies navigate their growth journey with confidence and scalability.

The program includes:

• Up to USD 120,000 in cloud credits
• Three months of global technical support for the price of one
• 12-month membership to the Alibaba Cloud Academy
• Access to the AI Alliance Community, fostering peer exchange and innovation
• Invitations to strategic ecosystem events, such as global startup showcases and investor engagements

These offerings aim to reduce the barriers to innovation and enable fintech startups to test, develop, and launch their solutions more effectively.

PayNet’s collaboration with Alibaba Cloud marks a significant milestone in Malaysia’s journey to become a regional fintech leader. By leveraging Alibaba Cloud’s technological prowess, the Fintech Hub is set to unlock new opportunities for startups seeking both local impact and global reach.

“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,” said Gary Yeoh, Chief Marketing Officer of PayNet. “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.”

A shared vision

The Alibaba Cloud-PayNet partnership aligns closely with the broader national digital economy aspirations and Alibaba Cloud’s mission to foster intelligent innovation through AI and cloud-based solutions.

By integrating cutting-edge cloud infrastructure with AI-powered capabilities, Alibaba Cloud aims to nurture a robust fintech landscape in Malaysia—one that is both inclusive and globally competitive.

“Through our advanced cloud infrastructure and AI capabilities, we are committed to shaping the future of intelligent fintech in Malaysia,” added Kun Huang.

With this partnership, Malaysia’s fintech startups are better positioned than ever to innovate fearlessly, collaborate globally, and scale sustainably—bringing the nation a step closer to becoming a leading fintech hub in Southeast Asia.