What S PAY GLOBAL does

S PAY GLOBAL is a Sarawak Government-designated fintech e-wallet platform operated by SiliconNet Technologies Sdn. Bhd. (SNT), a private limited company affiliated with Sarawak Information Systems Sdn. Bhd. (SAINS), the state government's IT systems company. The platform operates a mobile application (Android, iOS, HarmonyOS) with three wallet tiers — Basic (RM500 limit, available to non-Malaysians), Premium (RM3,000, KYC-verified Malaysians), and Platinum (RM6,000, KYC-verified Malaysians with 3-month tenure) — supporting QR-based payments via the DuitNow national standard, peer-to-peer fund transfers, bill payments to 28+ listed billers, and a proprietary Aid Wallet feature for government financial assistance disbursement. The core technical stack includes eKYC verification with facial recognition matching against MyKad, e-money issuance under the Financial Services Act 2013, UnionPay virtual card integration, and Jiguang JPush SDK for push notifications.

Revenue is generated through micro-fees: RM1.00 per Platinum wallet cash withdrawal, RM0.80 per PTPTN loan repayment, 0.5% on UnionPay international transactions, and merchant transaction processing fees. The 2% card top-up convenience fee was waived effective 17 December 2019 and remains waived, and merchant registration is free. The primary customer segments are Sarawak residents (individual consumers), government aid recipients (SKAS, BIB, Education Aid beneficiaries), small and micro merchants across the state, and frequent travellers holding Platinum wallets. Go-to-market is product-led growth via app store distribution, with the Aid Wallet and government mandate serving as the principal user acquisition flywheel. Formerly known as Sarawak Pay, the platform rebranded to S PAY GLOBAL while continuing operations under the same legal entity.

Name

S PAY GLOBAL

Legal name

SiliconNet Technologies Sdn. Bhd.

Website

https://spayglobal.my

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

S PAY GLOBAL is a Sarawak Government-backed e-wallet platform operated by SiliconNet Technologies Sdn. Bhd., offering cashless payments, bill payments, and serving as the exclusive disbursement channel for state financial aid programmes (SKAS, BIB, education aid) to Sarawak residents and merchants.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF)

Keywords

• Mobile e-wallet
• Digital payments
• Government aid disbursement
• Cashless payments
• QR code payments

Headquarters

HQ city

Kuching

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Cash Withdrawal Fee: S PAY GLOBAL charges RM1.00 per Cash Out/Withdrawal transaction from the e-wallet. This applies to Platinum wallet users who are the only tier permitted to perform withdrawals (to their own bank account or cash at BSN Ejen Bank).
2. Card Convenience Fee: Originally 2% of the top-up amount for Cash In/Top-Up via credit or debit card. Effective 17 December 2019, this convenience fee was waived until further notice. International UnionPay virtual card usage incurs 0.5% charge on transaction amount (or RM0.20, whichever is higher).
3. Bill Payment Processing Fee: A processing fee of RM0.80 is charged per PTPTN loan repayment transaction.
4. Merchant Transaction Processing: Merchants receive payments from users via QR code scans. S PAY GLOBAL processes these transactions as the payment service provider, retaining a portion of transaction values as processing fees. No merchant registration fees are charged (registration is FREE).
5. Operator Cashback Campaign: Cashback rewards are funded by SNT as a strategic initiative to encourage cashless payments. The cashback is credited to a Reward Account owned by the Operator (SNT) and is not transferable or withdrawable by users. This is a cost-centre/reward mechanism rather than a direct revenue stream, but drives transaction volume and user engagement.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

S PAY GLOBAL is an e-wallet mobile application platform operated by SiliconNet Technologies Sdn. Bhd. that enables digital payments, fund transfers, bill payments, cash withdrawals, and serves as the exclusive digital disbursement channel for Sarawak Government financial aid programmes (SKAS, BIB, Education Aid). It offers three tiered wallets (Basic RM500, Premium RM3,000, Platinum RM6,000), supports DuitNow QR interoperability nationwide, UnionPay virtual cards for international transactions, eGift peer-to-peer money gifting, and merchant QR payment acceptance for small businesses across Sarawak.

Product overview

S PAY GLOBAL is a Sarawak Government e-wallet fintech platform operated by SiliconNet Technologies Sdn. Bhd., formerly known as Sarawak Pay. The core product is the S PAY GLOBAL eWallet mobile application, a payment service provider operating under the Financial Services Act 2013. The platform offers three consumer wallet tiers — Basic Wallet (RM500 limit), Premium Wallet (RM3,000 limit), and Platinum Wallet (RM6,000 limit) — each with progressively higher transaction and fund transfer limits. Overlaid on the wallet tiers are Aid Wallet modules for government social assistance disbursements (SKAS, BIB, education aid programmes) and an eGift peer-to-peer money gifting feature. The platform also supports UnionPay virtual cards, DuitNow QR national payment standard, bill payment services, and a Personal Merchant registration programme allowing individuals and businesses to accept cashless payments. The product ecosystem integrates push notifications via Jiguang JPush SDK and participates in the DuitNow national QR payment network.

Differentiator

Problem solved

Functional benefit

Products and services

• S PAY GLOBAL eWallet A consumer-facing e-wallet mobile application (Android, iOS, HarmonyOS) operated by SiliconNet Technologies Sdn. Bhd. as a payment service provider. Enables end-customers to make electronic payments, top up via internet banking or debit/credit cards, transfer funds, pay bills, withdraw cash (Platinum tier only), and receive government aid disbursements. Operates under Bank Negara Malaysia e-money issuance rules.
• UnionPay Virtual Card A virtual payment card issued within the S PAY GLOBAL app for online and international transactions via the UnionPay network. Available to Platinum wallet users who have completed eKYC verification. Domestic usage is free; international transactions incur 0.5% of transaction amount (minimum RM0.20).
• S PAY GLOBAL Personal Merchant Service A merchant onboarding programme enabling individual and small business owners in Sarawak to register as merchants directly through the S PAY GLOBAL app. Merchants receive a unique QR code to accept cashless payments from customers. Companies and organisations can alternatively apply via PDF application form. Enables participation in the broader SKAS merchant network for receiving government aid recipient spending.
• SKAS Merchant Registration Programme A merchant enrollment programme under the Sumbangan Keperluan Asas Sarawak (SKAS) initiative. Allows approved S PAY GLOBAL merchants to officially accept and process government aid disbursement payments from SKAS recipients at their retail premises.

Quantifiable outcome

• SKAS 2026 reaches households earning RM5,000/month and below with RM1,100; single individuals earning RM2,500/month and below with RM375; senior citizens with RM600
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered core, minor and flagship.

• SiliconNet Technologies Sdn. Bhd. (SNT)coreOthersSNT is the operating company behind S PAY GLOBAL, incorporated under the Companies Act 1965 (Company No. 394813-H). SNT is a subsidiary or affiliate of Sarawak Information Systems Sdn. Bhd. (SAINS). The Terms and Conditions note that SNT may assign or novate its agreement to SAINS (Sarawak Information Systems Sdn. Bhd.). SNT is responsible for all platform operations, customer service, KYC/AML compliance, and financial services delivery.
• Payments Network Malaysia Sdn. Bhd. (PayNet) - DuitNow QR OwnercoreTechnology or IntegrationPayNet (Company No. 200801035403 [836743-D]) owns the DuitNow National QR Standard. S PAY GLOBAL integrates with DuitNow QR, enabling its users to make payments at any DuitNow merchant QR code across Malaysia and vice versa. A joint campaign (DuitNow Je Campaign) was launched in December 2025 with prize rewards funded by both SNT and PayNet.
• Bank Simpanan Nasional (BSN) - Ejen Bank AgentminorChannel Partner/ Reseller/ DistributorBSN serves as an Ejen Bank (bank agent) for cash top-up and withdrawal services for S PAY GLOBAL Platinum wallet users. BSN Ejen Bank allows users to withdraw cash from their e-wallet. Note: BSN Agent Top Up service was stated as currently unavailable until further notice in the FAQ.
• Sarawak Government (via various ministries and agencies)flagshipStrategic or Co-development PartnerS PAY GLOBAL serves as the official digital disbursement platform for multiple Sarawak Government financial aid programmes administered by various government agencies. These include: (1) SKAS 2026 - Sumbangan Keperluan Asas Sarawak (household/individual/senior citizen aid), (2) BIB - Bantuan Ibu Bersalin (maternal assistance), (3) Sarawak Education Aid Programmes (Bantuan Komputer Riba Percuma, Bantuan Baucar Buku, Bantuan Kewangan Khas) administered by MEITD and Yayasan Sarawak. The government partnership is the core strategic relationship underpinning the platform's existence.
• Sarawak Information Systems Sdn. Bhd. (SAINS)coreStrategic or Co-development PartnerSAINS is referenced in the Terms and Conditions as the entity to which SNT may assign or novate its agreement. SAINS is the Sarawak State Government's IT systems company, suggesting a close relationship with the government-backed platform. The Disclaimer references 'Sarawak Information Services Sdn. Bhd.' as the trademark owner of the application.
• 28+ Listed Billers (Utilities, Councils, and Service Providers)minorChannel Partner/ Reseller/ DistributorBillers integrated with S PAY GLOBAL's Pay Bill feature include: DBKU Assessment, JBALB Water Bill, Kuching Water Board Utilities, LAKU Management Sdn Bhd, Lembaga Kemajuan Bintulu Assessment, MBKS Assessment, MCC Assessment, 16 Majlis Daerah (district councils) assessments, Sibu Water Board Utilities, and Syarikat SESCO Berhad Utilities. These partnerships enable users to pay utility bills and assessments through the app.
• Bank Negara Malaysia (BNM)coreOthersBank Negara Malaysia is the regulatory authority overseeing S PAY GLOBAL as an e-money issuer under the Financial Services Act 2013. The platform is required to comply with BNM guidelines on wallet limits, transaction limits, AMLA requirements, and Fair Treatment of Financial Consumers (FTFC) principles. BNM's regulatory framework governs the operational parameters of all three wallet tiers.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Touch'n Go eWallet: Malaysia's largest e-wallet with the broadest merchant network and consumer mind-share. Directly comparable as a domestic P2P, bill pay, and merchant QR payment platform operating under similar Bank Negara Malaysia regulatory framework.
• GrabPay (Grab Financial): Major Southeast Asian super-app wallet serving Malaysian consumers with P2P transfers, bill payments, and merchant QR. Competes directly for the same Sarawak consumer transaction wallet and merchant acquiring relationships.
• Boost: Malaysian e-wallet offering cashless payments, bill payments, and merchant acquiring. Targets similar SMB merchant segments in suburban and rural Malaysia, including Sarawak.
• MAE by Maybank: Bank-backed digital wallet from Malaysia's largest bank offering full account functionality, P2P, and bill payments with significantly higher transaction limits. Represents the bank-linked competitive threat to S PAY GLOBAL's e-money model.
• ShopeePay: E-commerce-anchored e-wallet with strong merchant network among Malaysian SMEs. Competes for consumer wallet share and small-merchant QR adoption across Malaysian states.
• Setel: Petronas-linked Malaysian e-wallet for fuel and convenience payments, expanding into broader merchant acceptance. Comparable as a closed-loop-adjacent wallet seeking broader consumer utility.
• BigPay: AirAsia-backed digital wallet and prepaid card offering cross-border payments and remittances in Southeast Asia. Comparable on the cross-border and travel-spend monetization lane S PAY GLOBAL is exploring via UnionPay.

Others

• PayNet (Payments Network Malaysia): Operator of Malaysia's DuitNow QR and shared payment infrastructure. Functions as a strategic infrastructure partner rather than direct competitor, but its national rails determine the addressable merchant footprint for all Malaysian wallets including S PAY GLOBAL.

Regional players

• WeChat Pay: Regional digital wallet serving Chinese travellers and cross-border commerce in Southeast Asia. Relevant as a peer on the UnionPay-anchored international transaction lane and as a benchmark for ecosystem-driven wallet adoption.

Emerging players

• KiplePay: Malaysian emerging digital wallet focused on university and campus-based payments with bill pay functionality. Comparable as a niche e-money issuer targeting specific consumer segments under the same BNM regulatory framework.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/spayglobal.my
• LinkedInlinkedin.com/company/s-pay-global

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about S PAY GLOBAL