Malaysia’s CoherentPlus leads ASEAN’s digital payment revolution

KUALA LUMPUR (Dec 16): As Malaysia takes the lead in the Association of Southeast Asian Nations’ (ASEAN) digital integration during its chairmanship, one homegrown company is rapidly emerging as a regional fintech trailblazer.

CoherentPlus Sdn Bhd, a Malaysian provider of cutting-edge payment solutions, is playing a pivotal role in shaping ASEAN’s digital economy by going beyond participation to help define the very frameworks underpinning it.

“At CoherentPlus, we don’t just support ASEAN’s digital economy agenda, we help define it,” said CoherentPlus Sales Director Kelvin Wong.

“By championing secure, seamless and inclusive payments, we are ensuring ASEAN’s digital future is built on trust, interoperability and innovation.”

A major pillar of ASEAN’s digital roadmap is the forthcoming Digital Economy Framework Agreement (DEFA), which prioritises secure digital payments and enhanced cybersecurity. The Substantial Conclusion of DEFA was one of 18 Priority Economic Deliverables for Malaysia’s chairmanship of ASEAN this year.

CoherentPlus is uniquely positioned to capitalise on this. The company’s internationally certified solutions recognised by global bodies such as EMV, PCI and Mastercard TQM can equip businesses across the region to adopt digital payments effortlessly via cards, eWallets and QR codes.

“Our solutions enable businesses to scale without friction,” Wong explained. “From compliance to security, we provide the infrastructure that supports regional integration.”

While Malaysia’s digital payment journey has gained remarkable momentum, CoherentPlus has its eyes firmly set on the broader ASEAN market.

“Malaysia’s success in transitioning towards a cashless society gave us the confidence to export that expertise,” Wong said.

That vision is already bearing fruit. In Bangkok, more than 30,000 CoherentPlus payment readers have been deployed in BTS Skytrain stations and shopping mall food courts to accept Rabbit Card payments that modernize the retail experience for millions of daily commuters.

“This is exactly the kind of impact we seek to replicate across ASEAN to empower businesses, ease transactions and enhance user experiences,” Wong explained.

As ASEAN moves towards greater economic integration, CoherentPlus is helping smooth the path for regional business growth. Its hardware and software are designed using internationally recognised standards, making them operable across multiple jurisdictions without costly reengineering.

“Businesses can now scale into new markets without investing in separate systems or integration teams. We reduce the complexity of operating across ASEAN so our clients can focus on growth,” Wong said.

That scalability is particularly vital for the region’s micro, small and medium-sized enterprises (MSMEs). By embracing cashless systems and mobile wallets, these businesses can tap into larger markets including unbanked populations while boosting efficiency and transparency.

“Digital payments democratise access by lowering barriers to entry and creating more opportunities for MSMEs and the people who work for them,” Wong emphasised. “It’s not just about business; it’s about inclusion.”

Collaboration is central to CoherentPlus’ approach. From governments to private players, the company actively works with regional stakeholders to bring innovative projects to life.

In the Philippines, CoherentPlus was the first to implement a cashless system for eJeepneys. In Indonesia, it is enabling EV buses to accept contactless payments.

Back home in Malaysia, CoherentPlus pioneered unattended parking payments via credit and debit cards as early as 2013, a move that has since earned the company over 70 per cent market share in that segment.

“We’re proud to say we were among the first to bring card payments to unattended parking in Malaysia,” Wong said. “That’s the kind of forward-thinking innovation we bring to every market we enter.”

When it comes to cross-border operations, data protection is non-negotiable. Every transaction facilitated by CoherentPlus is encrypted to meet EMV and PCI standards, with strict protocols to ensure that customer data remains within its country of origin.

“Trust is the currency of digital payments. We safeguard it uncompromisingly. Security and data sovereignty are at the core of everything we do,” Wong emphasised.

Malaysia’s leadership in ASEAN has opened vital new doors for CoherentPlus. With the support of government agencies such as the Malaysia External Trade Development Corporation (MATRADE), the company has showcased its solutions in markets like the Philippines by drawing regional interest across transit, parking and EV charging sectors.

“These platforms not only increase visibility but validate our leadership. They position us as a regional player aligned with ASEAN’s digital priorities,” Wong said.

One of the most exciting outcomes of Malaysia’s push for regional digital integration is the cross-border Open Payment System (OPS) pilot project between Malaysia and Singapore, where CoherentPlus plays a key role.

“This wouldn’t have been possible without ASEAN’s commitment to digital integration. It’s a concrete example of how regional policy can lead to real-world innovation,” Wong explained.

As ASEAN advances towards deeper digital cooperation, CoherentPlus stands ready to lead from the front. Whether enabling MSMEs, securing data, or collaborating on government initiatives, the company’s mission is clear: to build a digital economy that is secure, seamless and inclusive.

“Malaysia’s ASEAN Chairmanship has laid the groundwork for long-term standards. We’re not in it for short-term wins. We’re here to shape the digital future of ASEAN, hand-in-hand,” Wong concluded.

In a region as diverse and fast-moving as ASEAN, CoherentPlus is proving that Malaysian innovation can go far and fast when built on a foundation of trust, vision and collaboration.