KUALA LUMPUR, Dec 2 (Bernama) — Network for Electronic Transfers (NETS) and Malaysian central infrastructure for payment services, Payments Network Malaysia Sdn Bhd (PayNet) on 28 November 2019 officially launched real-time cross-border payment usage of Singapore’s NETS ATM cards in Malaysia, and Malaysia’s MyDebit ATM cards in Singapore.
In April 2019, the joint statement by Tun Dr Mahathir Mohamad and Mr Lee Hsien Loong at the 9th Malaysia-Singapore Leaders’ Retreat articulated the goal of enabling cross-border domestic debit card acceptance between Malaysia and Singapore. With the launch, this goal is now a reality.
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