Cards & Payments

The national ID system, QR payment system are expected to push up financial inclusion.

Cardholders can earn up to 6% cashback first when used in digital subscriptions.

Market value is expected to rebound 8.5% in 2020 after declining last year.

Over 1.4 million of 3.1 million ATMs globally now accept automatic note deposits.

The central bank said this is a substantial improvement from an estimate of 17%.

Central banks will prioritise financial stability in this undertaking.

Card users can receive up to $85 in cashback rewards per month.

Buy Now Pay Later (BNPL) has seen remarkable growth in recent years and is on track to achieve a global market value of US$700b by 2023. This 90% compound annual growth rate (CAGR) reflects the growing penetration of this simple transactional instrument—consumers purchasing a product now with the agreement to pay for it later.

Mobile wallet adoption in Thailand, Vietnam far exceed those in the US, the UK.

Remittances between the two countries reached S$1.3b in 2020.

Google Pay users can get up to a 20% cashback when they pay through SGQR.

Government incentives will support its continued growth.

Fund transfers from India to Singapore will only need mobile phone numbers.

Lenders will have to reduce cross-border fees once CBDCs become more mainstream.

And Mastercard bets on crypto with acquisition of CipherTrace.

Canada remains the king of cashless countries.