AIA Malaysia reveals that it will be acquiring a minority stake in TNG Digital, which is the owner of Touch ‘n Go digital wallet. This deal will reportedly be a key part of a long-term strategic partnership. The Edge reported that this transaction should make… Read More
Malaysia-based Fintech firm Jirnexu reveals that it has entered into partnership agreements with over five consortia as they apply for a virtual banking license. They stated that with Jirnexu’s client base and a solid understanding of their financial requirements via RinggitPlus.com, the digital banking license… Read More
Southeast Asia’s Grab, the developer of a Super App, has decided to extend its partnership with Adyen (AMS: ADYEN), a leading payments platform, in order to enable merchants in Singapore and Malaysia to provide BNPL payment options. Available via the GrabPay wallet, merchants can offer… Read More
Kristo Käärmann, Co-founder and CEO of Wise (previously dba TransferWise), which aims to make money work without borders, notes that they’re building the world’s most international account. 1/ @Wise Q2 Mission Update is here. Our team is 2,600 people now. How much progress did we… Read More
BigPay is focused on expanding its business operations into Thailand after Airasia’s acquisition of Gojek’s Thailand division via its digital unit in a deal valued at RM208 million (appr. $50 million). This move has been announced ahead of AirAsia‘s plans to offer a Super app… Read More
Real-time payments are becoming increasingly common as cash as a payment solution or method for consumers in Southeast Asia, according to research from ACI Worldwide (NASDAQ: ACIW) and YouGov. Three out of five or around 60% of consumers residing in Indonesia, Malaysia, Thailand and Singapore… Read More
Bank Negara Malaysia, the nation’s reserve bank, recently revealed that it received 29 different applications for a virtual bank license under the Financial Services Act 2013 and the Islamic Financial Services Act 2013. This has come after a 6-month application period, which came to an… Read More
Southeast Asia-based Fave, a fast-growing Fintech firm, has introduced its Buy Now, Pay Later (BNPL) service for Singapore and Malaysian markets, offering more than 6 million Fave users with instant access to interest-free credit options. These flexible payment options are available at more than 40,000… Read More
Axiata Digital’s online wallet Boost has reportedly launched three new micro-insurance and takaful plans under the name “Boost Protect” in order to provide consumers in Malaysia with affordable and premium coverage. The addition of MozzieProtect, FamilyProtect, and Critical Illness Care brings the total coverage plans… Read More
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
Earlier this week, Merchantrade Asia, a digital money services business operator and e-money issuer, teamed up with palm plantation management services provider LintraMax in order to digitize the payroll system for underserved plantations workers in Malaysia. Through the partnership, Merchantrade Asia and LintraMax plan to… Read More
Malaysia-based myTukar, a pre-owned car purchasing and selling platform, has teamed up with Insurtech company PolicyStreet.com in order to provide insurance policies for pre-owned automobile purchases. Through the partnership, myTukar’s wholesale and retail clients may get timely insurance quotations along with convenient access to most… Read More
GrabPay, the in-app wallet of Super app Grab, recently announced that it has introduced the GrabPay DuitNow QR feature across Malaysia. The GrabPay digital wallet was reportedly the first in Malaysia to sign-up with PayNet and offer this feature which is now available across the… Read More
Southeast Asia-based Funding Societies, an established digital financing platform, has teamed up with Foodpanda in order to provide short-term online financing services for registered merchants (via Foodpanda’s network). Through the partnership, the companies have collectively disbursed RM1 million (appr. $240,000) in financing, which enables local… Read More
Ata Plus, an equity crowdfunding platform and Recognized Market Operator (RMO) that has been registered with the Securities Commission Malaysia, recently revealed that it has appointed Karen Puah to serve as its Chief Operating Officer. Ata Plus is a blockchain enhanced Equity Crowdfunding online platform,… Read More
Earlier this week, the Securities Commission Malaysia (SC) and the United Nations Capital Development Fund (UNCDF), through its Center for Financial Health program, introduced an accelerator to support the Islamic Fintech innovation ecosystem in the Southeast Asian country. The program, known as the FIKRA Islamic… Read More
GHL Systems has teamed up with payments giant Visa (NYSE:V) in order to become the first in the ASEAN region to offer Visa Instalments for customers using the eGHL Payment Gateway platform. Visa Instalments works by turning pre-approved issuer credit lines into installment payment options… Read More
The Malaysia Co-Investment Fund (MyCIF) has reportedly made a co-investment of RM165 million (appr. $40.27 million) in 5,349 equity crowdfunding and peer-to-peer financing (P2P) initiatives, which aims to benefit 1,197 Malaysian MSMEs by the end of last year. Since its October 2019 launch, these Malaysia-based… Read More
MyMy revealed on Monday (April 26, 2021) that it has obtained conditional approval for a large scheme E-money license from Bank Negara Malaysia, the nation’s central bank. The Fintech firm is now planning to launch its digital wallet services in the coming year. Until all… Read More
Malaysian Insurtech platform Fatberry has reportedly secured RM 2.5 million (appr. $600,000) through a pre-series A funding round. As noted by its management: “FatBerry is Malaysia’s most comprehensive online insurance portal. We allow you to compare and search for the best coverage plans quickly and… Read More
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