The Malaysian Electronic Payment System (MEPS) is an interbank network service provider in Malaysia.

With the result of the merger, PayNet is now the holding company for the PayNet Group which comprises two main subsidiaries, namely Malaysian Electronic Payment System Sdn Bhd (MEPS) and MEPS Currency Management Sdn Bhd (MCM).

The PayNet Group is Malaysia's premier payments network and central infrastructure for financial markets.

Three main functions can be used, namely ATM (with various combinations of banking transactions), e-debit (online purchase payment) transactions at participating merchants and MEPS Cash (a stored-value card that can be used to pay at participating merchants).

However, some participating banks provide only a selected few of the services offered by MEPS as mentioned above.