Tagged: malaysia

July 4, 2021 @ 12:28 pm By Omar Faridi  |  

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

June 29, 2021 @ 9:28 pm By Omar Faridi  |  

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

June 26, 2021 @ 7:23 pm By Omar Faridi  |  

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

June 20, 2021 @ 4:01 pm By Omar Faridi  |  

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

June 13, 2021 @ 3:35 pm By Omar Faridi  |  

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

June 13, 2021 @ 10:34 am By Omar Faridi  |  

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

June 10, 2021 @ 11:49 pm By Omar Faridi  |  

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

June 10, 2021 @ 10:54 pm By Omar Faridi  |  

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

June 6, 2021 @ 7:53 pm By Omar Faridi  |  

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

June 1, 2021 @ 11:34 pm By Omar Faridi  |  

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

May 6, 2021 @ 11:47 pm By Omar Faridi  |  

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

April 27, 2021 @ 11:55 pm By Omar Faridi  |  

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

April 27, 2021 @ 1:27 am By Omar Faridi  |  

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

April 17, 2021 @ 3:43 pm By Omar Faridi  |  

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

April 14, 2021 @ 10:47 pm By Omar Faridi  |  

Payments solution provider Fave has reportedly been acquired by Pine Labs, an Asian commerce platform. The acquistion deal is deal valued at more than RM 185 million (appr. $45 million). With this strategic acquisition, Indian consumers may now use the Fave app at some point… Read More

April 13, 2021 @ 1:45 am By Omar Faridi  |  

Malaysia’s PayNet, the national payments network and shared central infrastructure for that nation’s capital markets, has decided to work with FassPay, a subsidiary of Soft Space, which will be a third-party acquirer for MyDebit, the country’s local debit card scheme. This new appointment should allow… Read More

April 12, 2021 @ 11:37 pm By Omar Faridi  |  

RinggitPlus, a financial marketplace that’s owned by Jirnexu, has introduced RinggitPlus Advance, which is a one-to-one digital financial planning service for Malaysian residents. As noted by its management: “RinggitPlus is Malaysia’s leading financial comparison website. Everyday we help thousands of Malaysians #GetMore for their money…. Read More

April 12, 2021 @ 10:39 pm By Omar Faridi  |  

Just six months into its launch, Maybank SME Digital Financing has reportedly cleared RM1 billion (appr. $240 million) worth of financing, serving over 8,200 SMEs, of which around 85% or 6,950 are startups and micro-enterprises based in Malaysia. Maybank stated that all applications that were… Read More

April 8, 2021 @ 11:35 pm By Omar Faridi  |  

Axiata Group and Telenor Asia revealed on Thursday (April 8, 2021) that they’ve revisted and confirmed their merger plans involving Celcom and Digi. At present, the deal is in advanced discussions. Malaysian telecoms company Axiata Group Bhd and Norway-based Telenor ASA will be focused on… Read More

April 2, 2021 @ 8:09 pm By Omar Faridi  |  

Pine Labs, an Asian merchant commerce solution provider that’s backed by payments giant Mastercard, has introduced a Buy Now, Pay Later (BNPL) solution in Malaysia. Pine Labs aims to offer a technology-focused offline payments platform where several different credit card issuers can use a common… Read More