Tagged: southeast asia

Card Payments in Malaysia to Increase by Over 15% in 2022: Report

The Malaysian card payments market is “set to record a robust growth of 15.2% in 2022, supported by the gradual rise in consumer spending, government’s financial inclusion measures, and increasing preference for contactless payments,” forecasts GlobalData, a data and analytics company. According to GlobalData’s Payment… Read More

Fintech BigPay Now Supports Remittance Corridors in 38 Nations Across Europe, UK

BigPay, a Capital A venture firm, recently revealed that it has added 38 new countries to its global remittance services network. This reportedly includes England, Northern Ireland, Scotland, and Wales in the UK, and 34 nations across Europe, including France, Germany, Italy, Belgium, and Spain…. Read More

Malaysian Authorities, Regulators Seeking Feedback for Proposed BNPL Regulation

The Consumer Credit Oversight Board Task Force in Malaysia recently shared the Consumer Credit Act consultation document, which is the new act that aims to properly regulate and consolidate all consumer credit activities under its unit, and to also support “fair” lending and “responsible” conduct… Read More

Thailand’s National ITMX, NETS Enhance Cross-Border QR Payments

Network for Electronic Transfers (NETS), which is Singapore’s payment services group, and National ITMX, Thailand’s inter-bank payment infrastructure and central data processing system, recently confirmed the expansion of their cross-border QR payment partnership. This collaboration will aim to support inbound and outbound international payments between… Read More

Roxe Teams Up with Cebuana to Streamline Blockchain Payments in the Philippines

Roxe, a blockchain infrastructure company powering the next generation of payments and digital commerce solutions, has announced a partnership with the Philippines’ micro financial services provider, Cebuana Lhuillier. The partnership will “facilitate seamless cross-border remittance payments for clients in the Philippines by utilizing Cebuana Lhuillier’s… Read More

CBDCs: Bank of Thailand Provides Update on Progress of Retail Central Bank Digital Currency

​Ms. Vachira Arromdee, Deputy Governor of the Bank of Thailand (BOT), has noted that central banks around the world “have focused closely on the development of Retail CBDC and see the potential of Retail CBDC as being the foundation of the future financial system.” The… Read More

Everest Teams Up with Bitso to Support Cross-Border Payments

Bitso, the cryptocurrency platform in Latin America with over 5 million users, and Everest, the “first” licensed crypto custodian offering stablecoins, announced their partnership to provide Everest users “with the ability to receive cross-border transactions from the US, Europe, and Singapore into Mexico.” The Mexico-US… Read More

Philippines Govt to Introduce Digital Identification System, Improve Access to Financial Services

Finance Secretary (in the Philippines) Benjamin Diokno recently noted that the government will be focused on accelerating the rollout of the Philippine Identification System (PhilSys ID) in order to further expand public access to financial products/services while achieving “e-governance.” Former President Rodrigo Duterte had reportedly… Read More

Malaysia’s TNG Digital Secures Funding from Lazada, Touch ‘n Go

TNG Digital, the owner and operator of the Touch ‘n Go eWallet, has secured RM 750 million (appr. $168.5 million) as part of its latest round of equity funding. This investment round has been led by a fresh investment from the Lazada Group and a… Read More

Monetary Authority of Singapore and International Financial Services Centre Authority Exchange MoU

The International Financial Services Centre Authority (IFSCA) and the Monetary Authority of Singapore (MAS) recently exchanged a Memorandum of Understanding (MOU) on supervisory cooperation “in the presence of the Honorable Prime Minister of India Shri. Narendra Modi at GIFT City, Gandhinagar, India.” The MOU provides… Read More

Equity Management Firm Qapita Acquires India’s ESOP Direct

Singapore-based equity management company Qapita announced that it has completed the acquisition of India’s ESOP Direct via a full cash transaction. This should see Qapita secure complete ownership of ESOP Direct’s operating entities from its existing shareholders. With this strategic acquisition, Qapita should become one… Read More

MAS, Google Cloud Introduce Point Carbon Zero Program to Support Climate Fintech Solutions

The Monetary Authority of Singapore (MAS) and Google Cloud have jointly launched the Point Carbon Zero Program “to drive the innovation, incubation and scaling of climate FinTech solutions in Asia.” The Program is “a collaboration under MAS’ Project Greenprint and seeks to use climate FinTech… Read More

FOMO Pay to Utilize Ripple ODL for Crypto based Treasury Management

Ripple, which claims to be the leader in enterprise blockchain and crypto solutions,  announced a partnership with Singapore-based major payments institution FOMO Pay, which will “utilize Ripple’s crypto-enabled enterprise technology to improve its cross-border treasury flows.” On-Demand Liquidity (ODL) leverages XRP, the digital asset “built… Read More

BNPL Fintech Ablr Introduces Services in Malaysia

Ablr, a Buy Now Pay Later (BNPL) platform, recently revealed that it has now gone live in Malaysia. At present, the company has a network of more than 30 different brands in Malaysia and Singapore, which span around 250 merchant points. First-time consumers may download… Read More

Digital Asset Platform Zipmex Working with Partners to Re-Enable Withdrawals

The team at Zipmex noted in an update on July 22, 2022 that “just now, trade wallet withdrawals were re-enabled for our Global and Singapore users.’ Zipmex further revealed that they’re “working diligently with [their] partners so as to re-enable [their] withdrawal functionality to all… Read More

Philippines based ATRAM to Introduce Digital Wealth Management Services with additiv

ATRAM Trust Corporation, which claims to be the largest independent asset and wealth manager in the Philippines, recently announced that it has “signed a strategic partnership with additiv, a global Wealthtech platform provider.” The partnership will “enable ATRAM to modernize and digitize their wealth management… Read More

Ex- Bank of England Senior Advisor to Lead MetaVerse Green Exchange’s Climate Action in SE Asia

MetaVerse Green Exchange (MVGX), a digital “green” exchange licensed and regulated by the Monetary Authority of Singapore (MAS), announced the appointment of former Bank of England Senior Advisor Michael Sheren as President and Chief Strategy Officer (CSO) as the firm “strengthens its end-to-end suite of… Read More

Malaysia based Insurtech VSure Expands Its Operations to the United Kingdom

Malaysia-based digital insurance firm VSure.life recently revealed that it’s expanding operations into the UK in order to make it more affordable for SMBs to access insurance. VSure will be working with local service provider McGill and Partners, a boutique re-insurance broker focused on developing bespoke,… Read More

Kini, an Indonesian On-Demand Payroll Provider, Raises $4.3M in Seed Funding

Kini, an Indonesian on-demand payroll provider, has secured $4.3 million of seed funding led by East Ventures, with participation from Ten13, OurCrowd, K50 Ventures, and Goodwater Capital. Kini will “allocate the fresh funds to continue building out its HR-Fintech product suite, and invest in expanding… Read More

UOB Pilots Green, Sustainable Deposits Solutions

UOB (SGX: U11) recently launched a Green and Sustainable Deposits solution for its corporate and institutional clients, which is reportedly “the first such product in Singapore offered by a local bank.” The solution was “piloted with GIC.” Under this solution, the deposits are “deployed to… Read More

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