UOB and Lazada Announce Regional Strategic Partnership to Enhance Payment and Financial Services
UOB and Lazada Group have entered a Memorandum of Understanding (MOU) to collaborate on retail products and banking solutions for their combined customer base across Singapore, Malaysia, Indonesia, Thailand, and Vietnam. This partnership will be Lazada’s first with a bank for various payments and financial services in Southeast Asia and UOB’s first regional collaboration with an e-commerce platform. The collaboration aims...
Security Commission Malaysia Introduces e-PATH
The Securities Commission Malaysia (SC) has announced the launch of e-PATH, a new electronic payment hub that provides a more seamless and secure way for market participants and the public to make online payments to the SC. This new initiative is part of the SC’s digital transformation plan and aims to simplify the online payment process for regulatory and registration fees related to most submissions made to the SC, including...
Sales of Technical Consumer Goods Will Up in 2023
The Asia Pacific market for Technical Consumer Goods (TCG) faced challenges in 2022 due to the impact of the global economic situation, with inflation being a major concern. However, GfK predicts that 2023 will be a stable year with revenue growth driven by value-seeking consumers. Brands and manufacturers need to focus on inventory management and pricing pressure to achieve a competitive advantage. To stand out in the market, brands...
Keep Your Duit Raya Safely
Duit Raya, a traditional gift of money during Hari Raya Aidilfitri, has evolved with the times. Since the introduction of the first eWallet platform in Malaysia in 2017, many generous givers and recipients have switched to various cashless methods. Today, over half of the Malaysian population is using cashless payment methods daily, and there are currently 43 eWallet operators in the country. In 2022, the value of electronic money...
Volopay Secures In-Principle Approval for Major Payment Institution License from MAS
Volopay, a Singapore-based fintech start-up, has announced that it has received in-principle approval for a major payment institution licence from the Monetary Authority of Singapore (MAS). This licence means that Volopay’s payment services, which include account issuance, e-money, domestic money transfer, and cross-border money transfer, will be regulated under the Payment Services Act. The major payment institution licence is...
Touch ‘n Go eWallet Expands Payment Coverage in Singapore, Now Accepted at NETS Merchants
Touch ‘n Go eWallet users in Malaysia can now enjoy even wider cashless payment options when travelling to Singapore. The popular eWallet has announced that users can now make payments at any merchant displaying NETS QR via NETS payment terminals or SGQR in the republic. This new partnership is made possible thanks to the recently-announced cross-border partnership between DuitNow and NETS. The expansion of the payment coverage...
Mercedes-Benz Card by Maybank
Maybank has partnered with Mercedes-Benz Financial to launch an exclusive metal credit card that rewards users with points for purchases made at Mercedes-Benz Autohaus dealerships in Malaysia. The card, which is co-branded and features the exclusive 3 pointed star, is the first of its kind in Malaysia’s automotive market. Cardholders are eligible for discounts on Mercedes-Benz parts, official merchandise, and accessories, as...
Kill Switch – The New Security Feature in M2U
Maybank, one of Malaysia’s largest banks, has launched a new security feature called “kill switch” that allows customers to temporarily block the usage of their credit and charge cards in case of suspected compromise. The solution is an addition to the Maybank2u (M2U) access deactivation feature launched earlier this year. The kill switch can be activated through the Maybank2u web or Maybank MAE app, and all outgoing...
TNG eWallet Launches GOProtect
TNG Digital, the owner and operator of Touch ‘n Go eWallet, has launched GOprotect, a platform that allows eWallet users to purchase various insurance products directly through the app. GOprotect offers six types of insurance policies from leading insurance partners such as Allianz, Etiqa, Takaful Ikhlas, MSIG, Takaful Malaysia, AlA Malaysia, and Zurich Takaful. Users can compare quotes and purchase insurance plans in under three...
Cryptocurrency Phishing Attacks Rise by 40% in 2022, Traditional Financial Threats Decrease
The number of cryptocurrency-related phishing attacks prevented by Kaspersky anti-phishing systems increased by 40% compared to the previous year, with over 5 million attacks being stopped in 2022. In contrast, traditional financial threats, such as banking and mobile financial malware, have decreased in detection. These findings are part of Kaspersky’s latest report on Financial threats. The financial threat landscape has...
