PayNet Secures Encik Farhan Ahmad as Group Chief Executive Officer

Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for Malaysia's financial markets, has named Encik Farhan Ahmad as its new Group Chief Executive Officer effective 12 April 2022, succeeding Mr. Peter Schiesser.

Farhan was the Founder and Chief Executive Officer of Bento for Business, a fintech company based in Chicago and San Francisco that provides payment and expense management services to small and midsize businesses.

Farhan has a broad and extensive experience within the payments and banking services industry, having held significant leadership roles in several financial institutions like Barclays, Discover Financial Services, JP Morgan Chase, Bank One and FirstUSA. He was also a founding member of Aceva Technologies, a company that offered real time credit and promotional financing products to online retailers and he had successfully developed and launched Chase HealthAdvance, an independent healthcare financing business within JPMorgan Chase.

Farhan holds a Bachelor of Arts degree in economics from the University of Pennsylvania. With his broad experience in private payment system initiatives and passion to make financial services accessible and transparent for all, he now aspires to contribute on a national basis and drive PayNet towards achieving its vision in empowering Malaysia's digital economy.

Datuk Ahmad Hizzad Baharuddin, Chairman of PayNet Board, said:"The Board welcomes Farhan as the new Group CEO of PayNet. Farhan was selected after an extensive executive search and highly competitive selection process. As PayNet continues its next phase of growth in fulfilling its mission as a trusted enabler of inclusive and collaborative financial ecosystems, while continuing to create value for the benefit of all our stakeholders, the Board is confident that Farhan is the right candidate to lead PayNet into the future."