Cognizant and FICO Forge Alliance to Combat Fraud in Real-Time Payments with Innovative Cloud-Based Solution
Cognizant and FICO join forces to introduce a cloud-based real-time payment fraud prevention solution, leveraging AI and ML technologies to enhance security for banks and payment service providers in North America. The collaborative initiative aims to detect and block fraudulent transactions with precision, offering a seamless and secure consumer experience amid the proliferation of instant digital payments. 18 April 2024 –...
Seedflex Technologies Secures Funding to Launch Innovative Digital Financing Solution Across Southeast Asia, Bridging Credit Gap for Cashless Merchants
Seedflex Technologies secures seed funding from 500 Global to launch its shariah-compliant digital financing solution, PAYS Advance, across Southeast Asia, starting with Malaysia. PAYS Advance offers frictionless credit access for cashless merchants, aiming to empower MSMEs and bridge the digital credit gap in emerging markets. 18 April 2024 – Seedflex Technologies (Seedflex), a pioneering inclusive fintech company, has...
Brankas Makes History as First Indonesian Company Licensed for Account Information Services by Bank Indonesia
Brankas secures the prestigious PJP Category 2 license from Bank Indonesia, becoming the first Indonesian company licensed for Account Information Services (AInS). With approval for Payment Initiation and/or Acquiring Services (PIAS), Brankas expands its capabilities, offering secure real-time payment verification and automated prompts for insufficient funds, revolutionizing the Indonesian fintech landscape. 18 April 2024 –...
Malaysia’s International Remittance Market Shows Strong Growth Trend
Malaysia’s international remittance market is experiencing robust growth, with both inbound and outbound transactions expected to expand through 2028. The analysis provides insights into transaction values, consumer demographics, and transactional flows, offering stakeholders strategic insights to capitalize on emerging opportunities in the evolving remittance landscape. 17 April 2024 – A recent in-depth analysis of...
Visa Unveils Advanced Payment Solutions to Empower Merchants in Evolving Retail Landscape
Visa unveils advanced payment solutions to support merchants in the evolving Click-and-Mortar™ shopping landscape, emphasizing simplified payment experiences and enhanced connectivity. Key enhancements include Developer Assist for partner integration, a revamped SMB platform by Authorize.net, and the expansion of Tap to Phone technology for mobile acceptance. 17 April 2024 – Visa, a global leader in digital payments, announces...
Bank Negara Malaysia to Hold 17th Auction of Special Serial Number Ringgit Banknotes
Bank Negara Malaysia is organizing its 17th Auction of ringgit banknotes featuring special serial numbers, with online bidding open from April 20th to April 27th, 2024, and onsite and live auctions occurring on April 27th, 2024, at Sasana Kijang, Bank Negara Malaysia. Unique serial number banknotes, including sets of the first 10 and super solid numbers, will be up for auction through BNM’s appointed auctioneer, MNP Auctioneers...
FinbotsAI and KBZ Bank Join Forces to Transform Credit Risk Management in Myanmar with AI-Powered Solution
FinbotsAI partners with KBZ Bank, Myanmar’s leading bank, to implement CreditX, an AI-powered credit scoring solution, revolutionizing credit risk management in the region. The collaboration aims to enhance operational efficiency, drive financial inclusion, and facilitate faster and more accurate credit assessments across retail and SME products. FinbotsAI, a Singapore-based B2B SaaS FinTech backed by Accel, has announced a...
Fintech Funding Declines in Asia Pacific, but Global Landscape Holds Promise: S&P Global Market Intelligence
Asia Pacific experiences the largest year-on-year decline in fintech funding, while global landscape shows promising signs with certain regions and segments experiencing growth, according to data from S&P Global Market Intelligence. Late-stage investing is on the rise, and there’s anticipation of fintech companies going public in the coming years. 16 April 2024 – In the first quarter of 2024, Asia Pacific witnessed the...
Juniper Research Predicts 41% Surge in Digital Money Transfers by 2028
Juniper Research forecasts a 41% increase in digital money transfers by 2028, driven by the adoption of mobile money in developing regions and instant payments in developed markets. The top 5 platform vendors for 2024, including Huawei and PayPal, are revealed, with an emphasis on the importance of innovation and a Payment-as-a-Service approach to stay ahead in the competitive landscape. 16 April 2024 – According to a new study...
Tencent Enhances Payment Experience for Visitors to Mainland China, Expands Weixin Pay Services for Cross-Border Tourism
Tencent introduces measures to enhance payment experience for visitors to mainland China, including streamlined registration and card linking processes on Weixin Pay, increased transaction limits, and partnerships for QR payment interoperability. The initiatives aim to facilitate cross-border tourism and support the growing trend of mobile payments among international visitors. 16 April 2024 – In a bid to promote cross-border...
Mastercard Unveils Strategic Reorganization to Drive Growth and Value
Mastercard has announced a strategic realignment of its teams, focusing on Core Payments, Commercial & New Payment Flows, and Services to drive growth and deliver value. This restructuring, effective immediately for leadership changes and May 1 for organizational transitions, aims to enhance alignment, accelerate growth, and better serve stakeholders. 9 April 2024 – Mastercard has revealed a significant restructuring of its...
Bank Negara Malaysia Takes Decisive Action on Banking Services Disruptions
Bank Negara Malaysia responds firmly to recent banking services outages, demanding prompt restoration, effective communication with customers, and comprehensive explanations from affected banks. Further supervisory actions threatened for institutions failing regulatory standards. 9 April 2024 – Bank Negara Malaysia (BNM) has issued a stern response to the recent disruptions in banking services experienced by two major Malaysian...
Indonesia Blockchain Week 2024: Igniting Innovation and Collaboration in Southeast Asia
The Indonesia Blockchain Week 2024, set for November, promises to be the largest edition yet, aiming to accelerate innovation and collaboration in Southeast Asia’s blockchain ecosystem. With a focus on bridging traditional finance with blockchain technology and exploring the future of entertainment, the conference reunites industry professionals and thought leaders after a two-year hiatus. 4 April 2024 – The Indonesia...
MoneyGram and Tencent Financial Technology Partner to Enable Digital Remittances to Weixin Pay Wallets in China
MoneyGram partners with Tencent Financial Technology to enable consumers to send funds directly to Weixin Pay wallets in China through MoneyGram Online, catering to the growing demand for digital remittance solutions. With China ranking as the third-highest recipient country for remittances and witnessing a surge in e-commerce and mobile payments, this collaboration aims to simplify cross-border transactions and fortify global...
ZenTech Acquires Majority Stake in Alpha Fintech, Expanding Presence in Payment Gateway Services Market
Zen Tech International Bhd (ZenTech) acquires a 70% stake in Alpha Fintech Sdn Bhd for RM10 million, marking its entry into the payment gateway services market. The acquisition, accompanied by a profit guarantee from Alpha Fintech’s founder, is expected to enhance ZenTech’s revenue and profitability, solidifying its presence in the technology network industry. 3 April 2024 – Zen Tech International Bhd (ZenTech) has...
Visa Introduces Subscription Manager to Simplify Payment Management Amidst Surging Global Subscription Market
Visa launches Subscription Manager to streamline payment management for cardholders amidst the booming global subscription market, offering a convenient solution to track and control recurring payments. This initiative aligns with Visa’s commitment to enhancing transparency and digital experiences in the subscription economy. 3 April 2024 – The global subscription market is witnessing a significant surge, projected to...
Brunei Darussalam and Lao P.D.R. Join Regional Payment Connectivity Initiative, Boosting ASEAN Financial Cooperation
Brunei Darussalam Central Bank (BDCB) and Bank of the Lao P.D.R. (BOL) have joined the RPC initiative, aimed at fostering faster, cheaper, and more inclusive cross-border payments within the ASEAN region, bringing the total number of participating central banks to eight. 3 April 2024 – Brunei Darussalam Central Bank (BDCB) and Bank of the Lao P.D.R. (BOL) have recently joined the Regional Payment Connectivity (RPC) initiative,...
AsiaPay Partners with Airswift to Elevate Digital Payment Services for Airline Travelers
AsiaPay collaborates with Airswift to enhance digital payment services for airline passengers, offering streamlined payment options and facilitating market expansion for the airline. 2 April 2024 – AsiaPay, a leading digital payment service provider in Asia, has joined forces with Airswift, a boutique airline operating in the Philippines, to improve digital payment options for travelers. This collaboration integrates Airswift...
Malaysians Projected to Spend RM387 Billion via Cards in 2024, Nudging Towards Cashless Future
Malaysians are expected to spend RM387 billion via credit and debit cards in 2024, signifying a shift towards a cashless society. This projection reflects a growing trend in electronic payments, driven by factors such as expanding banking population, evolving POS infrastructure, and government initiatives promoting cashless transactions. 2 April 2024 – As Malaysia edges closer to a cashless society, data and analytics firm...
Visa Bolsters Global Security Measures with AI-Powered Fraud Prevention Solutions
Visa strengthens global security measures with AI-driven fraud prevention solutions, targeting various transaction types including immediate account-to-account and card-not-present payments. 28 March 2024 – In an effort to fortify its position as a leader in digital payments security, Visa (NYSE:V) has announced the expansion of its suite of value-added services with the introduction of three new AI-driven risk and fraud...
