Alibaba Cloud has partnered with Payments Network Malaysia (PayNet) as a Cloud Partner for the newly launched PayNet Fintech Hub, Malaysia’s first dedicated community and accelerator for fintech innovation.
The move signals Alibaba Cloud’s deeper involvement in nurturing the country’s digital finance landscape, as the Hub aims to become a growth engine for fintech startups by offering capital access, industry links, incentives, and global resources.
Positioning itself as a key infrastructure enabler, Alibaba Cloud will support Malaysian fintechs through advanced cloud computing, AI capabilities, and international connectivity. Kun Huang, General Manager of Malaysia at Alibaba Cloud Intelligence, said the ecosystem is expanding rapidly and emphasized the company’s commitment to scaling local startups with the right digital tools and expertise.
Startups participating in the Fintech Hub will also benefit from the Alibaba Cloud Startup Catalyst Program, which offers up to USD 120,000 in cloud credits, three months of global tech support for the cost of one, a year-long Alibaba Cloud Academy membership, and access to the AI Alliance Community. They will also be invited to high-profile ecosystem events and investor showcases globally.
PayNet’s Chief Marketing Officer, Gary Yeoh, highlighted that having Alibaba Cloud onboard grants Malaysian fintech players access to world-class infrastructure and global exposure, helping them innovate faster and compete internationally.
The partnership emphasizes Alibaba Cloud’s ambition to cultivate a robust AI-driven fintech environment in Malaysia, reinforcing its long-term commitment to empower local startups and shape the future of financial technology in the region.
