Visa Reports Strong Card-Spending Growth in Q3 as Travel Demand Persists
Visa reported a robust 9% growth in card-spending volume, reaching US$3.17 trillion in the last quarter, surpassing Wall Street’s expectations. The surge was driven by strong consumer demand for travel and dining out, indicating a positive outlook for the industry despite concerns about interest rate hikes. 27 July 2023 – Visa Inc. reported robust card-spending growth in the fiscal third quarter, surpassing Wall...
TerraPay and Safaricom Partner to Enable Cross-Border Payments in Southeast Asia
TerraPay and Safaricom have partnered to create a financially inclusive payments ecosystem, allowing for seamless cross-border payments in Southeast Asia. This collaboration will empower users with secure and swift payment options, fostering financial empowerment and independence in the region. TerraPay, a leading global payments infrastructure company, has joined forces with Safaricom, a prominent Kenya-based telecommunications, IT,...
Qashier Unveils Revolutionary QashierX2 Smart POS Terminal to Empower SMEs
Qashier, the fintech startup, introduces the QashierX2 smart POS terminal, an innovative all-in-one solution empowering SMEs with seamless payment acceptance and streamlined operations, consolidating various digital payment options and essential business functionalities in a single device. 27 July 2023 – Singapore-based fintech startup, Qashier, has introduced its latest innovation, the QashierX2, an advanced smart point-of-sale...
Philippine Economy Thrives as Overseas Filipino Remittances Soar to New Heights
The Philippine central bank reported a 2.9 percent year-on-year increase in personal remittances from overseas Filipinos, reaching 2.78 billion U.S. dollars in May. These remittances, which totaled 14.46 billion U.S. dollars in the first five months of the year, have become a crucial source of foreign exchange inflows for the country, supporting economic growth and strengthening ties between overseas Filipinos and their homeland. 24...
WeChat Pay and Alipay Open Doors to International Credit Cards: Simplifying Transactions for Visitors to China
WeChat Pay and Alipay, China’s leading mobile payment platforms, have expanded their services to accept international credit cards, easing transactions for international visitors and tourists. As mobile payments gain popularity, cash and credit card transactions have decreased in China, making it essential for these platforms to embrace international credit cards to cater to the growing number of foreign tourists. 24 July 2023...
Mastercard Unveils Mastercard Receivables Manager: Streamlining B2B Virtual Card Payments for Global Businesses
Mastercard unveils the Mastercard Receivables Manager, an automated solution to streamline the acceptance and processing of virtual card payments for businesses. The new product aims to optimize the reconciliation of digital payments, providing suppliers with increased efficiency, early payment options, and improved visibility of cash flow. 24 July 2023 – Mastercard, a leading global payment solutions provider, has unveiled its...
Opn Launches Atome BNPL Service in Malaysia and Singapore, Empowering Flexible Payment Solutions for Consumers and Merchants
Opn Holdings’ Opn Payments platform launches Atome, a Buy Now Pay Later (BNPL) payment method, in Malaysia and Singapore, offering consumers the convenience of splitting payments into three installments over three months without extra fees. Merchants receive the full payment upfront, while the popularity of BNPL grows in the region due to higher purchasing power for consumers without credit cards. 20 July 2023 – Opn...
CapBay Surpasses RM1 Billion Funding Milestone for Underserved SMEs
CapBay has reached a remarkable milestone by disbursing over RM1 billion in funding to more than 400 underserved SMEs, demonstrating its dedication to empowering businesses and offering safe investment options. With a default rate below 0.1%, CapBay’s advanced technology and AI-driven credit model have enabled financing for creditworthy SMEs, challenging the perception of alternative investments being high-risk. 14 July 2023...
AEON Credit Service to Invest RM175 Million in Digital Islamic Banking Sector
AEON Credit Service plans to invest RM175 million to establish its presence in the digital Islamic banking sector through a joint venture with AEON Financial Service. This strategic move aims to offer a comprehensive range of financial products and services to underserved market segments, driving financial inclusion and capitalizing on the growing demand for digital Islamic banking services in Malaysia. 14 July 2023 – AEON...
Singapore’s Digital Banks Advocate Deposit Cap Removal to Foster Growth and Competition
Singapore’s digital banks, backed by Grab Holdings and Sea Ltd., are pressing the Monetary Authority of Singapore to remove the deposit cap hindering their growth and lending abilities. With profitability targets to meet, these banks seek to scale and compete with traditional banks while assuring consumer protection and long-term viability. 14 July 2023 – Singapore’s digital banks, backed by industry giants Grab...
