Cards & Payments

Taiwan card payments market to be worth $187.7b by 2025

The market is forecasted to rebound by over 15% in 2021.

Taiwan card payments market to be worth $187.7b by 2025

The market is forecasted to rebound by over 15% in 2021.

BSP Deputy Governor Tangonan on the Philippines' digital finance ambitions

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

Standard Chartered targets Singaporean millennials in new ‘smart card’

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

Chart of the Week: Malaysia’s card payments market to be worth $80.2b in 2025

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

Eight in 10 ATMs in APAC are now automated deposit machines: RBR study

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

Digital payments in the Philippines reach 20.1% in 2020

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

Commercial banks to take intermediary roles when CBDCs roll out: S&P

Central banks will prioritise financial stability in this undertaking.

South Korea kicks off cash-back rewards program to boost card use

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

The Next Pedestal of the Payments War for Banks and FIs: Buy Now Pay Later

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.

APAC’s mobile wallet adoption chips away at traditional payments’ dominance

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

Singapore, Malaysia to link real-time payment systems PayNow, DuitNow

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

FavePay teams up with Google Pay to offer cashback to Singapore users

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

Singapore, India to link PayNow, UPI payment systems by mid-2022

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

Wider use of CBDCs for cross-border settlements dents banks’ fee income

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

Weekly Global News Wrap: Americans miss BNPL payments; Wells Fargo fined $250m

And Mastercard bets on crypto with acquisition of CipherTrace.