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Starting off with the goal to empower Malaysian SMEs, Fiuu reveals the secret sauce behind its growth

November 24, 2025

Fiuu recently became the first payment acquirer in Malaysia to enable Samsung Pay Online for e-commerce merchants

As a star of the Malaysian fintech ecosystem, Fiuu has reported a 32 per cent increase in total payment volume for the first three quarters of 2025, processing over US$8.3 billion across its network of merchants. This milestone is further strengthened by the company’s new and expanded partnerships with Affin Bank, Pos Malaysia, and PayNet.

It has also recently become the first payment acquirer in Malaysia to enable Samsung Pay Online for e-commerce merchants, a feature that is now live with more than 300 merchants.

In an email interview with e27, Fiuu CEO Eng Sheng Guan spoke about the national records that the company broke this year, which included two national records in the Malaysia Book of Records for its performance in 2024. It was also honoured with the Trusted Payment Partner Award in SEA by Trip.com.

“The biggest lesson we have learned from the process is the evolution of Malaysia’s digital economy. Malaysia ranks among the world’s top adopters of digital payments, even ahead of North America and Europe. In such a fast-moving space, it is easy to innovate for the sake of innovating. However, innovation must meet real-world needs; that is what builds trust in the long run,” he wrote.

“Our recent partnership with Pos Malaysia and PayNet also exemplified this lesson. We recognised the difficulty and inconvenience faced by delivery riders when handling cash-on-delivery transactions. With this partnership, we can now eliminate the need for physical cash while still allowing consumers to pay on delivery.”

In this interview, the CEO provides further details about the company’s mission and its next steps in the Malaysian fintech ecosystem. The following is the edited excerpt of the conversation.

What is the story behind the development of Fiuu?

The idea for Fiuu was born during my previous venture, an e-commerce solutions company that helped businesses establish their online presence and shopping cart systems. We realised that getting paid was a real bottleneck. Digital payments were complicated, costly, and broadly available only to larger companies with established financial histories, leaving SMEs at a disadvantage.

This gap became the inspiration for Fiuu. Alongside two co-founders, I set out to build a payment platform from scratch, one that would make accepting digital payments simple and affordable for all businesses. Our goal was to empower SMEs and create a level playing field as Malaysia’s digital economy grew. Over time, we expanded beyond a gateway solution to become a full-fledged fintech partner, offering omnichannel payment acceptance, contactless options, and strategic collaborations with leading card schemes and banks.

That same pioneering spirit drives Fiuu today. We have grown to become Malaysia’s largest payment solutions provider and a leading player across Southeast Asia. What makes this journey meaningful is that I have been actively involved through every shift – whether changing consumer habits or evolving regulations – always focused on building something sustainable.

It is this long-term mindset, paired with deep local insight and regional reach, that continues to define Fiuu’s growth story.

What is the problem that you aim to tackle? Why are your solutions better than the existing alternatives?

The world is more connected than ever before, and with the rapid digitisation of commerce, it is easy for SMEs and even established businesses to be left behind. In today’s environment, not having a secure and reliable way to accept digital payments is not just an operational issue – it is a brand risk.

When we started, digital payments in Southeast Asia were complicated, fragmented, and expensive. We built Fiuu to remove that barrier and make payments accessible, secure, and seamless for every business.

Today, Fiuu has evolved into the quiet backbone of Malaysia’s digital economy, helping merchants and partners simplify how they accept, distribute, and manage payments.

What sets us apart is flexibility. Our platform is fully modular, allowing us to customise solutions for enterprises while empowering partners – such as POS vendors and digital solution platforms – to become payment providers themselves, earning revenue from every transaction that flows through their system, without needing to go through compliance or licensing burdens, as we have already built that foundation.

We also bring regional expertise. Having operated across multiple Southeast Asian markets, we understand the local nuances, like regulatory frameworks, consumer behaviours, and market demands – and design our solutions to fit naturally within them.

With over 20 years of experience and millions of transactions processed daily, Fiuu has proven reliability at scale. We are trusted by global brands and financial institutions alike. As Malaysia’s first payment acquirer to enable Samsung Pay Online for e-commerce merchants, we continue to lead the evolution of digital payments in the region.

Who are your users? Why do you choose to aim for this particular segment? What is your user acquisition strategy?

We serve a diverse range of users, including global brands and financial institutions, regional enterprises, and digital-first merchants. While we initially focused on empowering SMEs, our role has since expanded. Many of the world’s leading companies now rely on Fiuu to power their payment infrastructure because we offer the scale, reliability, and flexibility they need to operate seamlessly across markets.

Our focus is on businesses that demand stability, security, and scalability, whether they’re processing thousands or millions of transactions daily. That is why Fiuu is trusted as the payment layer beneath many enterprise ecosystems, retail networks, and financial platforms.

Our acquisition strategy reflects this focus. We build deep partnerships with banks, fintechs, digital solutions providers, and payment networks, integrating directly into their ecosystems to reach merchants at scale. This includes initiatives such as Merchant Recruitment Partners (MRP) programmes and payment facilitator (PF) partnerships, which enable us to efficiently unlock broader merchant acquisition opportunities through our partners’ existing networks.

At the same time, our technology enables fast, low-friction onboarding, allowing businesses, large or small, to go live quickly and grow with us.

What is your strategy to build a sustainable business?

For Fiuu, sustainability means building something that lasts – an ecosystem where every partner grows stronger together. Our broader strategy is to move beyond payments and become part of an integrated financial ecosystem that seamlessly connects commerce, liquidity, and technology.

We are creating a smoother journey for our partners and their merchants – enabling faster onboarding, simplified reconciliation, and access to financial tools that support business growth. It’s a natural extension of our long-term vision to be an enabler of integrated financial services, not just a payment gateway.

Our broader strategy involves building and being part of an integrated financial ecosystem. We are creating a smoother journey, along with our partners such as banks, to enable businesses to onboard faster and access the right financial tools as they grow. That is a big step toward our long-term vision of becoming an enabler of integrated financial services, not just a payment gateway.

That is how we define sustainability. We are creating value through partnerships that simplify complexity and strengthen the entire payment ecosystem for the long term.

Have you raised external funding? Do you have plans to?

We have always focused on building a strong, profitable foundation before seeking external capital. That discipline has enabled us to maintain full control over our vision, invest in innovation at our own pace, and reinvest profits in strengthening our infrastructure, regional capabilities, and, most importantly, our people.

Our team has been the driving force behind every milestone we have achieved, and we continue to invest in their growth, expertise, and development as we expand across Southeast Asia.

At the same time, we are not closed to opportunities. We are open to strategic partnerships or investments that can accelerate our regional growth, particularly in technology, data intelligence, artificial intelligence, and cross-border payment innovation. But for us, funding is never just about capital. It’s about finding the right partners who share our long-term vision for an integrated, inclusive digital payments ecosystem across Southeast Asia.

What is your 2026 plan?

For 2026, our goal is to solidify Fiuu’s role as the trusted backbone of digital commerce across Southeast Asia. We are focusing on expanding cross-border payment capabilities, growing acquiring partnerships, and improving interoperability so merchants can operate seamlessly across markets.

We are doing this through continued investment in our technology infrastructure and strategic regional alliances that strengthen connectivity. By enhancing our AI and data capabilities, we are delivering smarter fraud prevention, optimised transaction routing, and deeper merchant insights – ensuring the platform remains robust and adaptive as transaction volumes increase.

At the same time, we are working closely with regional banks, networks, and fintechs to build a more connected financial ecosystem. This includes expanding our footprint beyond Malaysia into high-growth markets such as Singapore, the Philippines, Indonesia, and Thailand, where digital adoption is accelerating and where our capabilities can create immediate impact.

Ultimately, our focus is on creating infrastructure that allows businesses to scale with confidence while accelerating Southeast Asia’s digital economy through speed, trust, and inclusion.

Repost from: e27