Global Payment Gateways Market to Surge by MYR 52.33 Billion by 2028 Amidst Rising Adoption of NFC Technology
The global payment gateways market is set to grow by MYR 52.33 billion (USD 11.23 billion) from 2024 to 2028, driven by the increasing adoption of contactless payment solutions and NFC technology, despite the high costs of PoS terminals. Major market players are innovating to meet the evolving demands of secure, convenient, and efficient online transaction processing. 4 July 2024 – The global payment gateways market is projected...
MyEG Services Collaborates with Credit Bureau Malaysia to Provide MySCoRE Credit Reports Online
MyEG Services Bhd has partnered with Credit Bureau Malaysia to offer MySCoRE credit reports on the MyEG portal, providing users with comprehensive financial information to support various needs without additional charges. This partnership aims to enhance accessibility to critical credit data for better financial planning. 3 July 2024 – MyEG Services Bhd (KL: MYEG) announced its collaboration with Credit Bureau Malaysia Sdn Bhd...
TNG Digital Launches A New Gold Investment Product for eWallet Users
TNG Digital Sdn Bhd has launched e-Mas, a gold investment product via its e-wallet, aiming to democratize digital financial offerings and expecting to reach 500,000 subscribers by year-end. Supported by CIMB Bank Bhd, e-Mas allows users to invest in gold starting from RM10 without hidden fees. 2 July 2024 – TNG Digital Sdn Bhd has launched a gold investment product, e-Mas, accessible via its e-wallet, providing an easy avenue...
Bahamas Mandates Bank Integration to Boost Sand Dollar CBDC Adoption
The Bahamas will require commercial banks to facilitate access to its “Sand Dollar” CBDC to boost adoption, aiming to enhance its use in everyday transactions. This regulatory move underscores the country’s leadership in the global shift towards digital currencies. 1 July 2024 – The Bahamas, the first country to issue a central bank digital currency (CBDC), is set to introduce regulations requiring commercial banks...
Jirnexu Sdn Bhd Acquires CompareHero, Enhancing Leadership in Malaysian Fintech Sector
Jirnexu Sdn Bhd, parent company of RinggitPlus, is acquiring CompareHero from MoneyHero Limited, enhancing its leadership in the Malaysian fintech sector. This strategic move will expand Jirnexu’s reach and capabilities, while MoneyHero transitions to an investor role in Jirnexu. 1 July 2024 – Jirnexu Sdn Bhd, the parent company of RinggitPlus, has announced its acquisition of CompareHero, the Malaysian arm of...
IBPO Group Berhad Partners with Triathlon Star Ann Pow to Champion Financial Empowerment
IBPO Group Berhad has appointed Malaysian triathlete Ann Pow as its first brand ambassador, aiming to inspire and empower young athletes and women through its innovative financial solutions. Ann Pow, a celebrated triathlete, will promote IBPO’s values and technology, including the ANIKA AI-powered financial consultant. 1 July 2024 – IBPO Group Berhad (IBPO), a premier fusion financial company, has proudly announced the...
BIS Advances Global Payment Connectivity with Project Nexus Phase Four Expansion
The BIS and partners have completed the blueprint for phase three of Project Nexus, moving closer to seamless global instant payment connectivity. Phase four will see India’s UPI joining, significantly expanding the user base. 1 July 2024 – The Bank for International Settlements (BIS) and its partners have successfully completed the comprehensive blueprint for phase three of Project Nexus, marking a significant step...
Retail Giant Mydin Launches MydinPay
Mydin has launched MydinPay, Malaysia’s first e-wallet app by a wholesaler and retailer chain, offering RM5 vouchers and cashback incentives to early users. Powered by Wavpay, MydinPay aims to enhance customer convenience and engagement through personalized promotions and seamless digital transactions. 29 June 2024 – Mydin Mohamed Holdings Berhad (Mydin) has officially introduced MydinPay, a cutting-edge e-wallet app poised to...
Labuan IBFC Hosts Successful Symposium on Wealth Management and Estate Planning
Labuan IBFC Inc. and STEP Malaysia organized a symposium on wealth management and estate planning in Malaysia and Labuan IBFC, highlighting the jurisdiction’s robust ecosystem, regulatory framework, and significant growth in assets under management. The event fostered discussions among stakeholders on various aspects of estate planning, taxation, and strategies for family businesses, affirming Labuan IBFC’s position as a...
FWD Insurance Wins Top Partnership Distribution Award at ITC Asia Insurer Awards 2024
FWD Insurance Berhad receives the Top Partnership Distribution Award at the ITC Asia Insurer Awards 2024 for its innovative collaboration with BSN and the successful launch of Qaseh Bakti, Malaysia’s first digital microinsurance product. 20 June 2024 – FWD Insurance Berhad has achieved a significant milestone by securing the prestigious Top Partnership Distribution Award at the ITC Asia Insurer Awards 2024, held in...
Malaysian Consumers Rapidly Adopting Cashless Payments, Led by Gen Z and Gen Y
A Visa study indicates that over two-thirds of Malaysian consumers are adopting cashless payments, driven primarily by Gen Z and Gen Y. The shift is supported by increased merchant acceptance of digital payments, with contactless payments being the most popular method. 19 June 2024 – A recent study by Visa reveals that more than two-thirds of Malaysian consumers are making strides towards a cashless lifestyle, with Gen Z and Gen...
Berrypay Targets Global Growth with Focus on Digital Remittance and MasterCard Partnership
Berrypay, a fintech company, is set to expand rapidly by focusing on digital remittance and underserved markets, leveraging a partnership with MasterCard to enhance global reach and security for international money transfers. The company aims to broaden its services into digital banking and other payment systems, targeting growth in GCC and Asia-Pacific regions. 19 June 2024 – Fintech company Berrypay is poised for significant...
Digital Remittances Drive Growth in Asia Pacific Amid Global Economic Challenges, Reports Visa
Visa’s “Money Travels: 2024 Digital Remittances Adoption” report highlights the resilience of remittance flows in Asia Pacific, driven by digital platforms and robust markets like India, China, and the Philippines. Despite global economic challenges, digital remittances are growing, supported by partnerships and a strong focus on financial inclusion and efficiency. 18 June 2024 – Visa’s latest...
BNM Sasana Symposium 2024: Charting Malaysia’s Course for Growth and Resilience
Bank Negara Malaysia hosted the Sasana Symposium 2024, emphasizing collaboration for implementing structural reforms for a more resilient and prosperous Malaysia. The conference featured discussions, exhibitions, and success stories highlighting the importance of collective action and financial inclusion.pen_spark 12 June 2024 – Bank Negara Malaysia (BNM) hosted its annual Sasana Symposium, emphasizing the importance of...
PUC Bhd to Acquire Alevate Capital and Alevate Solutions for RM200 Million in Strategic Fintech Expansion
PUC Bhd has agreed to acquire Alevate Capital Sdn Bhd and Alevate Solutions Sdn Bhd for RM200 million, aiming to enhance its fintech capabilities and expand its market presence. 10 June 2024 – PUC Bhd has entered into a heads of agreement to acquire the entire equity stakes in Alevate Capital Sdn Bhd and Alevate Solutions Sdn Bhd for RM200 million, a deal to be settled in cash and shares. The vendors of the companies, Eatcosys...
Malaysia Welcomes Digital Nomads with All-In-One Cashless Payment Solutions from Axaipay
Axaipay introduces a comprehensive cashless payment solution to support local businesses and digital nomads. This initiative aims to enhance Malaysia’s global appeal and boost the local economy. 8 June 2024 – Malaysia, a country celebrated for its cultural diversity and multilingual population, has introduced an innovative initiative to attract global professionals: the Digital Nomad Pass. This new program aims to foster...
LOANPANDA Launches Campaign to Address Malaysia’s Economic Challenges
LOANPANDA launches a campaign to promote financial literacy and address Malaysia’s economic challenges. Through comprehensive marketing solutions and educational resources, LOANPANDA aims to simplify financial concepts and empower consumers to navigate economic uncertainties effectively. By aggregating financial information and offering personalized assistance, LOANPANDA seeks to alleviate financial pressures on households and...
Visa’s Tokenization Technology Boosts E-commerce by $40 Billion and Slashes Fraud by $650 Million
Visa’s tokenization technology has driven $40 billion in incremental e-commerce revenue and prevented $650 million in fraud over the past year, with over 10 billion tokens issued since 2014. This technology enhances payment security and offers a future where consumers have greater control over their data. 5 June 2024 – Visa has announced a significant milestone with its tokenization technology, reporting that Visa tokens...
GHL and BSN Partner to Launch 0% EasyPay Plan Across 7,000 Malaysian Merchants
GHL Systems Berhad has introduced BSN’s 0% EasyPay Plan to over 7,000 merchant terminals in Malaysia, offering flexible and interest-free instalment payments to consumers, enhancing their purchasing power and boosting merchant sales. This strategic partnership underscores a commitment to providing seamless, convenient payment options and supporting businesses in a dynamic market. 5 June 2024 – GHL Systems Berhad (GHL) has...
EigenLayer’s $18 Billion Re-Staking Surge Sparks Crypto Market Concerns
EigenLayer has drawn over $18 billion into its re-staking platform, allowing investors to earn multiple yields by staking and re-staking crypto assets. While the potential for higher returns is attractive, analysts warn that the practice could pose significant risks to the crypto market if not managed properly. 31 May 2024 – More than $18 billion worth of cryptocurrency has recently flowed into a new type of platform known as...
