Finalyst Unveils Innovative Platform to Address Malaysian Youth Debt Crisis Through Financial Health Assessment
Finalyst, a homegrown FinTech platform, has launched a pioneering financial health assessment service to tackle the high debt levels among Malaysian youth, attributed to financial illiteracy. The platform, equipped with cutting-edge technology, offers custom financial plans, visualization of scenarios, and monitoring functionalities, aiming to redefine the financial planning landscape in Malaysia. 24 January 2024 – Homegrown...
Gamuda Land and Alliance Bank Unite in Strategic Partnership to Strengthen Community Bonds
Gamuda Land and Alliance Bank have entered a strategic partnership, enabling Alliance Bank credit card users to leverage rewards points for Gamuda Land offerings, reinforcing a commitment to community bonds and placemaking efforts. The collaboration offers exclusive benefits for managing down payment repayments and additional perks for mortgage applicants, contributing to vibrant and interconnected neighborhoods. 24 January 2024...
Bitcoin Hits Seven-Week Low Below $40,000 Amid ETF Launch Fallout and Competition with Traditional Stocks
Bitcoin hit a seven-week low, dropping below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on January 11. The decline, down 3.98%, coincided with the cryptocurrency market facing challenges competing with traditional stocks, as the S&P 500 index reached record highs. Analysts and market-watchers attribute the dip to a variety of factors, including the SEC’s approval of bitcoin ETFs,...
Bursa Malaysia Launches SME X Platform for Enhanced SME Fundraising and Investor Connections
Bursa Malaysia, in partnership with the Companies Commission of Malaysia (SSM), introduces the SME X Platform, a groundbreaking initiative facilitating corporate fundraising for SMEs. Leveraging data and technology, the platform connects SMEs with potential investors, offering comprehensive insights into company performance. The platform is a result of a collaboration between Bursa Malaysia and SSM, aimed at enhancing data analytics...
Bank Negara Malaysia Addresses Misrepresentations Surrounding Quantum Metal Sdn Bhd
BNM clarifies that Quantum Metal Sdn. Bhd. (QMSB) is a reporting institution but emphasizes that its products and activities are not approved or licensed by BNM. The statement also addresses misinformation on social media regarding transaction approvals and warns against the misuse of BNM’s name. 22 January 2024 – In response to circulating claims and misrepresentations, Bank Negara Malaysia (BNM) has issued a statement...
Boost Expands Shariah-Compliant PayLater Solution for All In-App Transactions
Boost, a leading fintech player, expands its Shariah-compliant PayLater solution, Boost PayFlex, to cover all in-app transactions, providing users with a controlled credit line for flexible payments. This move aims to enhance financial inclusion and empower users to manage their finances responsibly. 18 January 2024 – Boost, a prominent regional fintech leader, has announced the expansion of its Shariah-compliant PayLater...
GHL Paving the Way to an Eco-Friendly Payment Future
GHL Systems Berhad introduces digital receipts, a pioneering feature aiming to transform the payment landscape for both businesses and customers. This eco-friendly initiative, part of GHL’s commitment to sustainability, gradually rolls out to merchants, emphasizing the collective responsibility to minimize the environmental impact of traditional paper receipts. 15 January 2024 – In a decisive move towards digital...
Mastercard Unveils Small Business AI: Pioneering Global Mentorship for Entrepreneurs
Mastercard introduces Small Business AI, an innovative tool designed to offer personalized guidance and mentorship for small business owners globally, addressing their unique challenges. Partnering with Create Labs and a global media coalition, the tool emphasizes inclusivity and is set to pilot in the U.S. with plans for international expansion. 11 January 2024 – In a strategic move to bolster small businesses worldwide,...
Boost and RHB’s Boost Bank Gains Regulatory Approval, Paving the Way for Malaysia’s First Homegrown Digital Bank
Boost, the fintech arm of Axiata Group, in partnership with RHB Banking Group, has secured regulatory approval from Bank Negara and the Finance Ministry to commence operations as Boost Bank, a digital bank, starting January 15, 2024. The consortium, marking the first primarily Malaysian-owned digital bank, plans to address financial inclusion gaps and will undergo alpha testing before the public launch. 8 January 2024 – Boost,...
GHL Introduces Mastercard Click to Pay for Seamless and Secure Checkout Experiences
GHL Systems Berhad introduces Mastercard Click to Pay for 2,000 e-commerce merchants, offering swift and secure checkout experiences. The innovative solution, aligning with modern consumer expectations, enhances conversion rates, and integrates seamlessly across card networks. 8 January 2024 – GHL Systems Berhad (GHL), a prominent player in payment solutions, has rolled out Mastercard Click to Pay to empower 2,000 e-commerce...
ManagePay Systems Unveils Cross-Border White Label E-Wallet with Finnet Indonesia – Introducing Finpay Money Migrant
ManagePay Systems collaborates with Finnet Indonesia to introduce “Finpay Money Migrant,” a white-label e-wallet and mobile application, providing dual-currency functionality. The reciprocal partnership allows MPay to issue its white-label e-wallet in Indonesia. Finpay Money Migrant offers various features, including outbound remittances and social security contributions, targeting the Indonesian market. 6 January 2024...
Frasers Hospitality Elevates Guest Experience with Adyen’s Cutting-Edge Fintech Across Global Properties
Frasers Hospitality has strengthened its partnership with Adyen to implement the fintech platform’s single-platform solution across its global properties. The collaboration aims to enhance payment processes, providing guests with diverse payment options and streamlining operations for Frasers Hospitality. Adyen’s solution integrates with third-party providers, optimizing operations and reducing complexity for the global...
Ant Group Advances Western Foothold with MultiSafepay Acquisition in $200 Million Deal
Ant Group, an affiliate of Alibaba, is on the verge of acquiring Dutch payments firm MultiSafepay for around $200 million, as part of its strategic expansion into Western payment markets. The deal, subject to regulatory approval, follows Ant Group’s previous acquisitions, signaling its commitment to strengthening its position in the global financial technology landscape. 6 January 2024 – Ant Group, an affiliate of Alibaba...
TNG Digital Revolutionizes Cross-Border Transactions: Touch ‘n Go eWallet Now Covers 50+ Countries with GOremit
TNG Digital, the force behind Touch ‘n Go eWallet, has expanded its cross-border remittance service, GOremit, to over 50 countries in response to user demand. The service allows users to conduct quick and secure overseas money transfers, offering various options including bank transfers, cash pick-up, and transfers to destination country eWallets. The expansion, covering regions such as Hong Kong, Japan, the UK, and Europe, is...
Funding Societies Secures Major Investments to Propel MSME Financial Inclusion and Expansion Across Malaysia
Funding Societies Malaysia, a leading fintech firm, has secured strategic investments from Khazanah Nasional Bhd and CGC Digital Sdn Bhd to extend its services beyond major cities, with a goal to serve over 25,000 micro, small, and medium enterprises (MSMEs) in Malaysia by the end of 2025. This capital infusion aims to address a substantial RM90 billion (US$19 billion) funding gap for MSMEs and enhance financial inclusion through...
YouTrip Elevates User Experience with Increased Wallet Limits and Robust Security Measures, Launches Exciting ‘Trip It to Win It’ Campaign
YouTrip, the favored multi-currency e-wallet in Singapore, unveils elevated wallet limits and advanced security measures, setting a new standard for user convenience and protection during cross-border transactions. 3 January 2024 – YouTrip, the preferred multi-currency e-wallet in Singapore, has unveiled significant improvements to its digital wallet, introducing elevated stock and flow cap limits and reinforcing security...
Mastercard and Razer Merchant Services Revolutionize Online Payments with Click to Pay in Malaysia
Mastercard collaborates with Razer Merchant Services to introduce Mastercard Click to Pay in Malaysia, offering a secure and swift online checkout experience for cardholders. The innovative solution eliminates the need for password entry and enhances security measures, aligning with Malaysia’s digital lifestyle shift. 28 December 2023 – Mastercard has joined forces with Razer Merchant Services (RMS), a division of Razer...
MAS Implements Temporary Ban on Non-Bank Channels for Singapore-China Remittances Amidst Frozen Account Concerns
Singapore’s MAS issues a 3-month suspension on non-bank channels for remittances to China due to concerns over frozen accounts. The directive aims to protect consumers, prompting remittance companies to exclusively use banks or card networks. MAS advises the public to use alternative channels during the 14-day adjustment period. 20 December 2023 – The Monetary Authority of Singapore (MAS) has issued a notice instructing...
Shopee Expands Influence in Brazil with Strategic Acquisition of Blu’s Local Credit Arm
Shopee, the Singapore-based e-commerce giant, has acquired the local credit arm of Brazilian fintech Blu, marking a strategic move to provide direct credit services in Latin America’s largest economy. The deal, with preliminary approval from Brazil’s antitrust regulator Cade, follows Shopee’s aim to enhance its Brazilian operations and reduce costs, as highlighted in a November legal filing. 19 December 2023 –...
Kaspersky Survey Reveals Gamers Spearhead Growing Acceptance of Cryptocurrency in Everyday Transactions
A global survey by Kaspersky reveals a significant increase in consumer acceptance of cryptocurrency, particularly among gamers. The study indicates a growing understanding of digital currencies, with 81 percent of gamers owning cryptocurrency and 55 percent of respondents considering themselves ‘very’ or ‘extremely’ knowledgeable. The survey also highlights shifting attitudes toward using cryptocurrency for...
