Summary
RHB Banking Group has launched RHB PAY, Malaysia's first bank-owned unified online payment gateway, designed to let businesses collect digital payments directly into their RHB accounts. The internally built platform combines bank-grade security, automated reconciliation and faster fund settlement for mid-sized enterprises, corporates and government-linked institutions. The rollout comes as digital transactions in Malaysia reached 18.4 billion in 2025, up 25% from 14.7 billion in 2024.
Key Facts
- RHB launched RHB PAY, Malaysia's first bank-owned unified online payment gateway
- Internally built platform routes online collections directly into RHB accounts
- Combines bank-grade security, automated reconciliation, faster fund settlement
- Targets mid-sized enterprises, corporates, government-linked institutions
- At launch integrates card payments, FPX, and DuitNow Pay via PayNet's national infrastructure
- Phase 2 (Q4 2026) to introduce e-wallets, QR payments, Direct Debit, Auto Debit
- Malaysia digital transactions reached 18.4 billion in 2025, up 25% YoY (Bank Negara Malaysia data)
Why It Matters
RHB PAY is notable as Malaysia's first bank-owned unified online payment gateway, marking a direct entry by a major bank into a segment traditionally served by third-party payment gateway providers. By building the gateway internally and routing collections directly into RHB accounts, the bank strengthens its relationship with merchants, gains a direct revenue stream from payment processing, and offers integrated reconciliation and settlement. The launch reflects the rapid growth of Malaysia's digital payments market and the competitive pressure on banks to offer comprehensive payment infrastructure alongside the national DuitNow/PayNet rails. For the broader fintech sector, it signals that banks are increasingly competing directly with independent payment gateways and payment service providers in Southeast Asia's fast-growing digital economy.