Atome Financial Expands Debt Facility with HSBC to Boost Financial Inclusivity and New Consumer Financing Products in Southeast Asia
Atome Financial, a Singapore-based FinTech firm, has expanded and renewed its $100 million debt facility with HSBC Singapore to include the Philippines market and support new consumer financing products. The collaboration aligns with Atome’s mission to provide accessible digital-first financing solutions and highlights the role of innovative FinTech companies in driving Southeast Asia’s new economy growth. Singapore-based...
Payoneer Singapore Achieves Major Payment Institution License from MAS, Paving the Way for Enhanced Financial Services and Expansion
Payoneer Singapore has obtained a Major Payment Institution License from the Monetary Authority of Singapore (MAS), marking a significant achievement for the company. This license enables Payoneer Singapore to expand its services and offerings in Singapore, including cross-border transactions and merchant acquisition, in line with rigorous regulatory standards set by MAS. 17 August 2023 – Payoneer Singapore Private Limited, a...
OCBC Bank Launches Innovative OCBC 90°N Visa Card, Tailoring Rewards to Discerning Travellers’ Preferences
OCBC Bank introduces the OCBC 90°N Visa Card, offering travel-themed rewards and versatile cashback options for everyday spending. The card aligns with the resurgence of travel plans and popular demand for rewards, targeting Malaysian travellers seeking tailored benefits for their journeys. 17 August 2023 – OCBC Bank (M) Bhd has introduced the OCBC 90°N Visa Card, a travel-themed credit card designed to cater to...
Maybank Introduces Pioneering ‘Green’ Credit Card with Carbon Footprint Monitoring for Eco-Conscious Consumers
Maybank has launched the innovative myimpact credit card, the first of its kind in Asean, featuring a Carbon Footprint Calculator that tracks carbon emissions from transactions. This eco-friendly card appeals to environmentally conscious users and aligns with Maybank’s sustainability initiatives, offering benefits such as no fees and the ability to support reforestation projects to offset carbon footprints. 17 August 2023...
Popmaxcrypto’s Breakthrough: Launching Proprietary PMC Token and Cutting-Edge Trading Platform
Popmaxcrypto introduces its proprietary PMC token alongside an innovative digital asset trading platform, emphasizing security and a versatile trading environment. The token, launched on August 10th, enhances user transactions and interaction within the platform, underscoring the company’s commitment to evolving digital asset trading. 16 August 2023 – Popmaxcrypto, a trailblazing digital asset trading platform, has...
PayPal Prepares for New Leadership as Alex Chriss Takes the Reins
PayPal announces a significant leadership transition with Alex Chriss set to succeed Dan Schulman as CEO, effective September 27. Chriss brings a wealth of experience to lead PayPal’s foray into cryptocurrency payments and financial expansion. As the company grapples with underwhelming margins and navigates the evolving fintech landscape, Chriss is poised to carry forward Schulman’s legacy of innovation and growth. PayPal...
BingX Exchange Ventures into SEI Layer 1 Public Chain Project Launch
BingX, a prominent cryptocurrency exchange, is set to debut the SEI Layer 1 public chain project on August 15th, becoming an early adopter of the SEI coin launch within the COSMOS ecosystem. This strategic move aligns with SEI’s emphasis on DeFi, empowering it to achieve impressive transaction processing capabilities. BingX’s rigorous project evaluation process and ongoing monitoring showcase its commitment to providing a...
Rakuten Group Strategically Consolidates Payments and Points into Credit Card Unit to Navigate Financial Challenges
Japan’s Rakuten Group has unveiled a strategic plan to merge its payments and points businesses into its credit card unit, aiming to enhance its financial outlook. Despite consistent e-commerce revenue, the company’s prolonged financial struggles, linked to its mobile phone business, have prompted this consolidation move which could potentially lead to listing its credit card arm. 11 August 2023 – In a strategic move...
Society Pass and 2C2P Forge Strategic Payments Partnership to Drive Southeast Asia’s E-commerce
Society Pass Incorporated partners with 2C2P, a global payments platform, to enhance e-commerce shopping across Southeast Asia. By integrating 2C2P’s versatile payment options, Society Pass aims to provide a seamless and convenient payment experience within their ecosystem, expanding their reach to unbanked customers and driving the growth of digital transactions. 11 August 2023 – Society Pass Incorporated, a leading...
CIMB Launches Innovative Sustainable Branch, Pioneering Inclusive and Eco-friendly Banking
CIMB Bank Berhad and CIMB Islamic Bank Berhad have introduced an innovative branch at IOI City Towers in Putrajaya, featuring integrated sustainable features in a GBI-certified building. The branch embodies CIMB’s commitment to environmental sustainability and inclusivity, showcasing an ESG-first approach with a suite of sustainable banking solutions. This initiative aligns with CIMB’s broader goal to achieve carbon...
Funding Societies and CGC Digital Unite to Reshape Financing Landscape for Malaysian MSMEs
Funding Societies and CGC Digital have forged a pioneering partnership to revolutionize financing for underserved micro and small enterprises (MSMEs) in Malaysia. By leveraging alternative data and a digital-first approach, the collaboration aims to offer transformative financial solutions through a Shariah-compliant digital supply chain financing (DSCF) platform, enabling broader and more affordable access to credit guarantees. 9...
Tranglo and TNG Digital Forge Partnership, Expanding Cross-Border Remittance Services Across Southeast Asia
Tranglo and TNG Digital have joined forces to expand cross-border remittance services across Southeast Asia, offering users the capability to send funds from the Touch ‘n Go eWallet to 10 countries. This collaboration leverages Tranglo’s established network and infrastructure to enhance financial accessibility for millions of users, aligning with TNG Digital’s mission of promoting financial inclusion through innovative...
Promoting Linguistic Excellence: BNM and DBP Spearhead Piala Gabenor Speech Contest
Bank Negara Malaysia and Dewan Bahasa dan Pustaka have successfully organized the Piala Gabenor Speech Contest, fostering the use of the national language within the financial sector. The event witnessed a competitive final round with participants addressing financial education and current economic issues while adhering to challenging speech criteria. 8 August 2023 – In a concerted effort to elevate the stature of the national...
PayPal Introduces PayPal USD Stablecoin to Promote Digital Currency Adoption
PayPal has entered the stablecoin market by unveiling its own U.S. dollar-backed stablecoin, PayPal USD. This stablecoin is underpinned by U.S. dollar deposits and short-term U.S. Treasuries, offering stability and security for digital transactions and transfers. The move reflects PayPal’s commitment to driving digital currency adoption and enhancing accessibility within the realm of digital assets, catering to a wider range of...
Bank Simpanan Nasional (BSN) Partners with Visa to Empower Micro SMEs Through E-Commerce Enablement
Bank Simpanan Nasional (BSN) and Visa have formed a strategic partnership to introduce the ‘Accelerate My Business’ (AMB) program, a training initiative aimed at fostering e-commerce capabilities for micro-SMEs. The program, scheduled to begin in August 2023, focuses on imparting digital commerce skills to empower 750 carefully selected BSN micro-SMEs, driving their growth and enabling them to navigate the evolving...
Tazapay Receives Major Payment Institution License from MAS, Paving the Way for Expanded Fintech Services
Singaporean fintech Tazapay attains a Major Payment Institution license from the Monetary Authority of Singapore (MAS), allowing it to expand its services, including cross-border payments, domestic money transfers, and e-money issuance across Asia and beyond. 4 August 2023 – Tazapay, a leading fintech firm specializing in advanced cross-border payment solutions, has achieved a significant milestone by obtaining a Major Payment...
Seamless Travel Payments: OCBC’s Digital App Empowers Customers with UnionPay QR Solution
OCBC Singapore introduces a seamless payment solution through its OCBC Digital app, allowing customers to make retail payments to UnionPay QR-enabled merchants across 47 markets. The initiative eliminates the need for separate payment apps and currency exchange, providing enhanced convenience for travelers. 3 August 2023 – OCBC Singapore customers are set to experience a new level of convenience while traveling, as the bank...
Tether Reports Surge in Assets and Operational Profits Amidst Growing Crypto Market
Tether, the leading stablecoin, attains unprecedented success with its assets skyrocketing to $86.5 billion in Q2 2023, accompanied by a remarkable operational profit of over $1 billion, representing a significant 30% quarterly surge. 31 July 2023 – Tether, the world’s largest stablecoin, reported a significant increase in its assets, reaching $86.5 billion in the second quarter of 2023. The company also disclosed making...
Indonesia Launches First Crypto Assets Futures Exchange to Instill Confidence and Investor Protection
Indonesia pioneers its Crypto Assets Futures Exchange, bolstering investor confidence and cementing its position as a regulated and secure hub for crypto asset trading. The initiative aims to revolutionize the nation’s crypto landscape and foster a thriving digital trading ecosystem. 31 July 2023 – Indonesia’s Trade Ministry and the Commodities Futures Trading Regulatory Agency (Bappebti) have jointly unveiled the...
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...
