Search Results for: Regional Payment Connectivity

Brunei, Laos Join ASEAN Regional Payment Connectivity Initiative

The Brunei Darussalam Central Bank (BDCB) and the Bank of the Lao PDR (BOL) have officially joined the Regional Payment Connectivity (RPC), marking a significant milestone in ASEAN’s financial integration efforts, the Monetary Authority of Singapore (MAS) has announced. The BDCB’s accession to the RPC… Read More

Southeast Asia: Regional Payment Connectivity Expansion to Include State Bank of Vietnam

The State Bank of Vietnam (SBV), the central bank of Viet Nam, has officially joined the Regional Payment Connectivity (RPC) initiative. This recent development is “an expansion of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) that was initiated by the… Read More

Central Banks of Indonesia, Malaysia, Philippines, Singapore, Thailand to Work on Regional Payment Connectivity

Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), and Bank of Thailand (BOT) have agreed “to strengthen and enhance cooperation on payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments.” A Memorandum… Read More

Ingenico, a Global Enabler of Payment Acceptance, Teams Up with Cybersource, Visa’s Fraud Management Platform

Ingenico, a global enabler of payment acceptance and services, has announced a strategic partnership with Cybersource, Visa’s agnostic global payment and fraud management platform. The partnership will create a global unified commerce solution “for use in Asia Pacific first, followed by other regions.” The partnership… Read More

Vietnam’s Central Bank Joins ASEAN Payment Connectivity Initiative

Vietnam’s central bank, the State Bank of Vietnam (SBV), has officially joined the Regional Payment Connectivity (RPC) initiative, a scheme initiated by central banks in Southeast Asia to strengthen and enhance collaboration on payment connectivity. SBV officially signed the supplemental Memorandum of Understanding on Cooperation… Read More

Cross Border Payments Now Available Between Singapore and Malaysia

The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have partnered to announce QR codes for payments will now be accepted bilaterally. Users at participating financial firms will now accept in-person payments by scanning a physical code displayed on merchants as well as… Read More

Cross-Border QR Payments Linkage Established by Bank Negara Malaysia and Bank of Thailand

Bank Negara Malaysia (BNM) and the Bank of Thailand (BoT) recently revealed that they’ve introduced a cross-border QR payment linkage between the two countries. Under this linkage, both consumers and merchants residing in Malaysia and Thailand can make and receive instant, cross-border QR code payments…. Read More

Fintech Unicorn TransferWise to Expand its Debit Card Program with Assistance from Payments Giant Visa

UK-based Fintech Unicorn TransferWise is reportedly expanding its debit card program into many new markets after entering a worldwide deal with payments giant Visa (NYSE:V). Through the partnership, TransferWise will be connecting to Visa’s international transaction processing network (via the Cloud). TransferWise confirmed that it’s… Read More

Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its Social Feed, Rewards, Payouts

The team at Venmo, a mobile payment service created by PayPal, notes that their platform began as a social peer-to-peer payments tool for friends and family members to split their meal or share an “unforgettable experience.” The Venmo team confirms that several years ago, they… Read More

Indian Payments Platform MobiKwik Partners with DT One on International Expansion

MobiKwik has partnered with DT One (formerly TransferTo) to expand internationally. MobiKwik is an India-based Fintech in the payments space. DT One One is a global B2B network for “mobile top-ups/recharge, rewards and airtime credit services.” Indian users will now be able to add money… Read More

Digital Banking: Bank of Thailand Postpones Release of Virtual Bank Licensing Regulations

Mr. Tharith Panpiemras, Assistant Governor of the Financial Institutions Policy Group, announced that after the Bank of Thailand (BOT) released the Virtual Bank Licensing Framework for public consultation “between January 12 and February 12, 2023, the BOT reportedly received questions and helpful feedback from stakeholders… Read More

Digital Money, Carefully Managed, Can Potentially Aid Growth and Equality in Developing Areas – Report

Digital money, when carefully managed, can potentially aid Pacific Island growth and equality, according to an update shared by the IMF. A cautious step-by-step approach would help the region “explore new technologies effectively to deliver economic and social gains while managing risks,” the International Monetary… Read More

IMF Encourages Pacific Island Nations to Explore Digital Money Benefits

Pacific Island nations are poised to harness the digital money revolution to enhance their financial systems, improve financial inclusion, and counteract the decline in correspondent banking relationships, according to research conducted by the International Monetary Fund (IMF). The geographic isolation, small size, and distinct challenges… Read More

Malaysia’s Maybank Expands Cross-Border Services to China, Enhances ASEAN Financial Integration

Maybank announced the expansion of its cross-border QR Pay service to China, one of the first in the market for a Malaysian bank, amplifying Maybank’s existing cross-border payment capabilities and enhancing the ease and efficiency of financial transactions. This initiative aims to benefit over 8… Read More

Global Fintech Airwallex Reports Steady Growth of Singapore Operations

Following a “strong” year of growth, global fintech platform Airwallex has recently  announced business highlights in Singapore. In the first half of 2023, Airwallex Singapore “saw 13x growth (1213%) in year-on-year revenue and more than 11x growth (1015%) in total transaction volume as businesses in… Read More

Fintech Deserve, a Credit Card Issuing Platform, Launches Digital Processing Capabilities

Deserve, a mobile-first credit card issuing platform, announced today the launch of new digital processing capabilities on the Deserve platform that can provide direct connectivity for mobile apps or software development kits to the Mastercard network. Financial Institutions of all sizes, “including credit unions and… Read More

A2A, Fintech Salt Edge to Support Open Finance in Jordan

The Central Bank of Jordan (CBJ) has taken a significant step towards modernizing the financial services landscape in the Kingdom by unveiling comprehensive guidelines for Open Finance services. These guidelines apply to all banks operating “within the jurisdiction of CBJ, as well as online payment… Read More

Indonesia Pushes for Expansion of ASEAN’s Local Currency Transaction Network

Under its chairmanship of ASEAN this year, Indonesia is placing a strong emphasis on the expansion and enhancement of the region’s local currency transaction (LCT) network. The move is aimed at fortifying trade and investment, streamlining cross-border payments, and advancing financial asset substitutability. Iss Savitri… Read More

IFC Commits Record $11bn to 108 Projects in Asia Pacific

World Bank Group member International Finance Corporation (IFC) has committed a record $11 billion to 108 projects in Asia and the Pacific this year to alleviate poverty and increase prosperity amid challenges such as climate change, gender inequality, food and energy insecurity, and higher inflation…. Read More

Yokoy, a Provider of AI-powered Spend Management Suite, Partners with Pagero, a Platform Provider for E-Invoicing

Yokoy, a provider of an AI-powered spend management suite, is setting new standards in invoice management with its strategic partnership with Pagero, a platform provider for globally compliant e-invoicing. Yokoy seamlessly integrates with Pagero’s cloud-based e-invoicing solution “to provide a 100% digitized and fully automated… Read More

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