Payments Network Malaysia Sdn Bhd (PayNet) has announced a leadership transition, with Group Chief Executive Officer Farhan Ahmad set to step down from his role effective 31 January 2026. To ensure a smooth succession, the Board has appointed Praveen Rajan as CEO-Designate, effective 1 December 2025. Praveen, who currently serves as Chief Consumer Business Officer at CelcomDigi Berhad, brings over 20 years of experience in mobile telecommunications and the digital economy, with a strong record in regulated transformations, consumer innovation, and technology-driven growth.
Since taking the helm in early 2022, Farhan has led PayNet through a period of remarkable growth and transformation. During his tenure, transaction volumes surged 275%, from three billion to over eight billion annually, solidifying DuitNow as one of the most advanced and reliable real-time payments infrastructures globally. He also championed flagship financial inclusion programmes such as PayNet Cambah, which supports digital prosperity for underserved communities, and PayNet Akar, aimed at equipping Malaysian youth with future-ready digital skills. Additionally, Farhan steered PayNet’s expansion into global cross-border payments and spearheaded national digital innovation initiatives, including the National Fraud Portal and the PayNet Fintech Hub.
Acknowledging his contributions, Dato’ Izzaddin Idris, Chairman of PayNet, said: “On behalf of the Board of Directors, I wish to thank Farhan for his exceptional leadership and unwavering commitment to advancing Malaysia’s national payments infrastructure, the core mandate of PayNet. We also look forward to welcoming Praveen as CEO-Designate. His experience in digital transformation and customer-centric growth will be invaluable as PayNet enters its next phase.”
Reflecting on his departure, Farhan Ahmad shared: “It has been an honour to serve at the helm of PayNet. I am proud of what we have achieved together, and I look forward to seeing PayNet continue to succeed in the years ahead, while I pursue the next chapter of my personal journey.”
The leadership handover will be managed over the coming months, with PayNet’s executive team focused on executing its strategic roadmap, ensuring stability and continuity as the organization advances its mission to strengthen Malaysia’s payments ecosystem.