Cards & Payments

PayPal is first foreign operator to fully own Chinese payments business: report
18 Jan 21
It bought the remaining 30% stake of GoPay last December.
Cash, bank transfers remain king of Indonesia's payments market
12 Jan 21
Bank transfers made up 30.7% of the local payments market in 2020.
Singapore tightens regulation of virtual payment entities to combat risks
5 Jan 21
DPT activities carry higher inherent money laundering and terrorism financing risks.
Revolut Singapore enables virtual wallet top-up via bank transfer
5 Jan 21
They can even set a part of their salaries to be automatically transferred to their Revolut wallet.
Online shopping boosts Singapore's cashless payments market
4 Jan 21
Seven in 10 consumers shopping online increased their use of digital payment methods.
Chart of the Week: Taiwan card payments to rise 5.6% in 2020
15 Dec 20
The government has pushed banks to cut rates on credit card balances.
Chart of the Week: Hong Kong card payments to grow 1.2% in 2020
8 Dec 20
Fourth wave of infections to further erode consumer confidence in the near term.
Payments platform 2C2P relocates Singapore head office
4 Dec 20
The firm reportedly expanded its Singapore team by nearly 30% during the pandemic.
Chart of the Week: Reduced consumer spending hits Vietnam's card market
24 Nov 20
The market’s growth slowed to 11% in 2020 from last year’s 35.3% surge.
Vietnam's FE Credit, JCB International pilot new credit card
23 Nov 20
Benefits include a loyalty programme and 0% retail installment.
Chart of the Week: India's payments via UPI to reach $1.7t in 2025
17 Nov 20
The entrance of WeChat Pay is expected to intensify competition in the payments space.
Card payments growth slows in South Korea
4 Nov 20
Consumer spending fluctuated amidst waves of new coronavirus cases.
Kenanga Bank buys 4.99% equity interest in Merchantrade Asia
29 Oct 20
Merchantrade is Malaysia’s largest money services operator, with over 1,700 touchpoints.
Chart of the Week: Mobile wallets displace cash and cards in India
27 Oct 20
An estimated 23.5 billion mobile wallet transactions are expected to occur in 2020.
South Koreans in 20s face $1.91b in overdrafts, card loans
27 Oct 20
Thousands are applying for debt workouts.
Chart of the Week: Easing of travel restrictions to drive Thai card payments growth
21 Oct 20
Card payments is estimated to grow by 2.3% in 2020 and reach $82.8b by 2024.
Mastercard, IDEMIA, MatchMove partner for fingerprint card in Asia
21 Oct 20
The card harvests energy from payment terminals to power its sensor.
LINE launches social banking platform in Thailand
20 Oct 20
Customers can use it to transfer money, apply for loans, and pay through the LINE app.
Indonesian card payments to mellow 1.7% in 2020
19 Oct 20
But it is bound for a 7% recovery come 2021.
Regulator orders cessation of Wirecard Singapore's payments services
30 Sep 20
All customer funds shall be returned by 14 October.
Chart of the Week: Malaysia's card payments to reach $52.4b in 2020
29 Sep 20
Credit, debit card payments account for 36.8% of the country’s total e-commerce value.
PPRO integrates with Indonesian payment firms DOKU, OVO
28 Sep 20
It features a total of four payment types.
UOB simplifies users' digital transactions via new partnership ecosystem
25 Sep 20
Customers will be able to make payments without using a physical card.
Aspire issues virtual Visa corporate cards
25 Sep 20
All cards under the startup are now available under Google Pay.
Chart of the Week: Australia's e-commerce market to reach $37.9b in 2020
22 Sep 20
‘Buy now, pay later’ schemes are on the rise especially amongst millennials.
Chart of the Week: Pandemic drives e-commerce adoption in Malaysia
9 Sep 20
International e-wallets such as Google Pay and Masterpass are gaining steam.
Alternative payments reign supreme in Indian e-commerce market
8 Sep 20
Share in transactions hit 54% this year.
Citibank granted domestic fund custody licence in China
2 Sep 20
The bank can now provide custody services to Chinese mutual and private funds.
Mastercard establishes local office in Myanmar
25 Aug 20
It also plans to appoint a country business development manager.
Singapore fintech LytePay, Rapyd launch e-wallet for ERA Realty agents
24 Aug 20
Real estate salespersons will now be able to instantly use their commissions.
Vietnam's Mcredit, JCB launch credit card
18 Aug 20
Card members can enjoy a zero-interest installment at thousands of merchants in Vietnam.
EZ-Link, Touch ‘n Go launch dual-currency cross-border contactless card
18 Aug 20
It hosts two e-wallets in Singapore dollars and Malaysian ringgit.
Chart of the Week: Japan card payments to grow 2.1% in 2020
17 Aug 20
Pandemic-related fears is crippling away at cash payment’s dominance.
Chart of the Week: Pandemic spurs card payments growth in Singapore
12 Aug 20
Backing from banks and merchants has made contactless payments mainstream.
Cambodia-based fintech Clik secures $3.7m seed round funding
5 Aug 20
The payments startup said that it is on track for a nation-wide launch by end-2020.
Deutsche Bank partners with fintech Airwallex for cross-border payments service
29 Jul 20
Merchants using Airwallex do not need to open bank accounts to collect payments.
Consumer spending to spur growth in Taiwan card payments
23 Jul 20
The value is expected to reach $200.2b by 2024 at a CAGR of 7.6%.
Chart of the Week: Lockdown easing drives card payments recovery in India
22 Jul 20
Fear of COVID-19 spread is driving consumers towards digital payment tools.
Hong Kong neobank WeLab Bank, Mastercard to launch numberless bank card
20 Jul 20
It will be available for use immediately after opening an account with the lender.
Rapyd partners with local payment players to launch service in India
15 Jul 20
It has partnered with local players to allow merchants to access 900 locally-preferred payment methods.

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