National Bank of Cambodia and UnionPay International Forge Path for Seamless Cross-Border QR Code Payments
The National Bank of Cambodia and UnionPay International have launched a cross-border QR code payment system, enabling UnionPay cardholders to conduct transactions in Cambodia. The collaboration aims to enhance financial cooperation, benefitting users in both Cambodia and China, with plans to extend the functionality to Cambodian residents for payments in China and globally by early 2024. This initiative contributes to the growth of...
OpenAI Eyes Fresh Funding Round, Aims for Valuation Exceeding $100 Billion, Cementing Status as AI Trailblazer
OpenAI is reportedly in early discussions to secure a new funding round with a target valuation exceeding $100 billion, potentially making it the second-most valuable startup in the U.S. The company, known for its ChatGPT, has been a trailblazer in the AI industry, attracting significant investment and contributing to the broader trend of substantial funding in AI-related ventures. 27 December 2023 – OpenAI, the creator of...
Hmall Unleashes Trailblazing Innovations to Redefine E-commerce
Hmall, a trailblazing e-commerce platform, introduces groundbreaking innovations, including a three-layer affiliate system, global seller accessibility, and robust tools for merchants and buyers, aiming to revolutionize the online shopping experience. The platform’s unique model incentivizes members and positions it as a leader in the evolving landscape of global e-commerce. 27 December 2023 – Hmall...
One 97 Communications Initiates Strategic Workforce Adjustments for Enhanced Financial Efficiency and Sustainability
One 97 Communications, the parent company of Paytm, announces a measured reduction in its workforce as part of cost-cutting measures, emphasizing a focus on achieving 10-15% savings in employee costs through the application of Artificial Intelligence. 27 December 2023 – In a recent development, One 97 Communications, the parent company of renowned fintech firm Paytm, has confirmed a calculated “slight reduction” in...
Cyber Monday Sets New Online Shopping Record with $12.4 Billion in Sales
Cyber Monday in the U.S. has set a new online shopping record, with sales reaching an impressive $12.4 billion, a 9.6% increase from the previous year. Despite cautious forecasts from retailers anticipating inflation-constrained budgets, enticing discounts across various categories drove consumers to splurge on Christmas purchases. Peak discounts of 31% in electronics and 23% in apparel, along with increased adoption of Buy Now, Pay...
GCash Unveils Enhanced International Services and Explores Enterprise Solutions at Singapore Fintech Festival 2023
GCash, the Philippines’ leading finance super app, introduces enhanced international services at the Singapore Fintech Festival 2023. The app now features real-time foreign exchange rates for select countries, reinforcing its position for Filipino travelers and overseas residents. With expanded capabilities and a focus on enterprise services, GCash continues to evolve beyond its core money transfer business. 21 November 2023...
Visa and Tencent Forge Alliance to Transform Cross-Border Remittances for Weixin Users
Visa has partnered with Tencent Financial Technology to facilitate inbound remittances for Weixin users in Mainland China, extending the reach of the Visa Direct network to over one billion users. This collaboration caters to the growing demand for seamless cross-border transactions, leveraging digital wallets and enhancing convenience and security for users and businesses. 17 November 2023 – Visa, a global leader in digital...
Survey Reveals Budget Consciousness as Key Driver of Online Cart Abandonment
A YouGov survey commissioned by commercetools reveals that budget-consciousness prompts online shoppers to abandon their carts, with shipping costs and the search for better deals cited as the top reasons. The study underscores the significance of financial considerations across income ranges, with recommendations for retailers to invest in technology, loyalty programs, and personalized experiences to combat cart abandonment during...
Kaspersky and ASWANT Solution Join Forces to Elevate Cybersecurity Defenses in Malaysia and Indonesia
Kaspersky collaborates with ASWANT Solution to fortify the Cyber Immunity ecosystem in Malaysia and Indonesia, appointing ASWANT Solution as the exclusive distributor for Kaspersky Thin Client. This strategic partnership aims to provide secure-by-design solutions, bolstering thin client infrastructure and addressing evolving cyber threats in the region. 17 November 2023 – Kaspersky, a global cybersecurity company, has announced...
South Korea’s Online Shopping Soars in September Fueled by Travel and E-Coupon Services
South Korea’s online shopping sector saw a remarkable 9.6% growth in September, with strong demand for travel, e-coupon services, and food contributing to the surge. The data revealed significant increases in online transactions for these categories, with mobile shopping through smartphones also on the rise, indicating changing consumer preferences and the continued growth of e-commerce in the country. 4 November 2023 –...
Indonesia Exempts Books, Films, and More from $100 Import Ban on E-commerce
Indonesia has excluded books, films, software, and music from its $100 import ban on e-commerce platforms, aiming to accommodate specific goods. This decision impacts the country’s vibrant e-commerce market, with a significant population that embraces online shopping and transactions. 2 November 2023 – Indonesia has decided to exempt books, films, software, and music from its recent ban on the import of products priced...
Mastercard’s Report Reveals Cross-Border Payment Challenges Amidst Rising Demand for Global Work
Mastercard’s 2023 borderless payments report highlights the increasing demand for cross-border payments driven by a growing number of people considering working abroad. However, the report also reveals challenges such as late or failed payments, fraud risk, and difficulties in supporting in-country payments for both consumers and small businesses. 1 November 2023 – Mastercard’s 2023 borderless payments report sheds...
Visa Pilots Visa AR Manager to Revolutionize Virtual Card Acceptance for Commercial Businesses
Visa is launching a pilot of Visa AR Manager, an innovative solution designed to streamline virtual card acceptance for commercial merchants. This new offering automates the virtual card transaction process, enhancing efficiency and reducing manual efforts, ultimately providing a seamless digital payment experience for issuers and suppliers in the commercial B2B sector. 23 October 2023 – Visa, a global leader in payments, has...
Visa Commits $100 Million to Shape the Future of Commerce with Generative AI Ventures Initiative
Visa unveils a $100 million Generative AI Ventures initiative to invest in the development of generative AI technologies and applications set to revolutionize the future of commerce and payments. The initiative, spearheaded by Visa Ventures, builds upon Visa’s legacy of pioneering AI in payments and aims to support innovative startups at the intersection of generative AI, commerce, and payments. 13 October 2023 – Visa, a...
Visa Strengthens Cybersecurity Offerings Through Partnership with Expel
Visa partners with Expel to bolster cybersecurity offerings in response to rising global cybercrime costs, allowing clients to proactively manage cyber risks and enhance fraud defenses. 13 October 2023 – Global payment giant Visa has announced a strategic collaboration with leading security operations provider, Expel. The partnership seeks to expand Visa’s Value-Added Services portfolio by venturing into the Managed...
Converge ICT Surpasses Household Coverage Targets Ahead of Schedule with VMware’s Support
Converge ICT Solutions Inc., a leading broadband provider in the Philippines, has exceeded its nationwide household coverage target of 55 percent by 2025, achieving an impressive 62 percent coverage by the second quarter of 2023, two years ahead of schedule. VMware’s strategic partnership played a pivotal role in Converge’s expansion, enabling them to modernize their IT infrastructure, providing affordable high-speed...
Visa’s Fall 2023 Threats Report: AI-Powered Phishing and Ransomware Surge Amidst Global Anti-Fraud Efforts
Visa’s Fall 2023 Biannual Threats Report reveals growing threats in the form of AI-powered phishing, enumeration attacks, and ransomware, despite a lower-than-expected overall global fraud rate. Visa proactively blocked $30 billion in potential fraud during the reporting period. 8 September 2023 – Visa Inc., a globally recognized leader in digital payments, has released its Biannual Threats Report for Fall 2023, shedding...
Allianz Report Reveals Challenges and Resilience in the Semiconductor Industry
The electronics sector, with a specific focus on the semiconductor market, is facing a significant decline in 2023 after a period of exceptional growth, according to Allianz Trade in Asia Pacific’s latest report. Factors contributing to this decline include weakened consumer electronics sales, inventory surpluses, and ongoing geopolitical tensions. 6 September 2023 – In its latest sector outlook report, Allianz Trade in...
Visa Expands Stablecoin Settlement to Solana Blockchain in Partnership with Worldpay and Nuvei
Visa expands its stablecoin settlement capabilities to the Solana blockchain, partnering with Worldpay and Nuvei to streamline fiat-denominated payment settlements. This move marks Visa as a pioneer in adopting blockchain technology and leveraging USDC to enhance cross-border transactions and payments. 5 September 2023 – Visa, a global leader in payment solutions, has taken a significant step toward modernizing cross-border...
Meta’s Code Llama: The Cutting-Edge AI Model Streamlining Code Writing and Debugging
Meta Platforms, the parent company of Facebook and Instagram, is propelling its AI agenda forward with the launch of Code Llama. An AI model built on the foundation of Meta’s Llama 2 language model, Code Llama aids developers by generating code, streamlining code completion, and debugging processes. 25 August 2023 – Tech giant Meta Platforms, formerly known as Facebook, is making bold strides in the realm of artificial...
