Cards & Payments
Trust Bank unveils cashback card with 15% bonus rate
Trust Bank unveils cashback card with 15% bonus rate
Until 31 December, new customers get an unlimited cashback of 1.5%.
Mastercard pilots biometric payment authentication in India
Shoppers can use their fingerprint, face scan, or pin to confirm payment.
SoKor credit card firms report 5.8% higher net income in H1
Loan-related and installment fees rose, as well as total expenses.
Visa enables use of cards to pay in Cebu, Mandaue modern jeepneys
Commuters visiting the two Philippine cities can pay with their Visa cards in 140 modern jeepneys.
MUFG invests $338.5m in India’s DMI Finance
DMI Finance has provided loans to 15.2 million customers in India as of March 2024.
Krungthai Card to miss loan growth target for 2024
It should be able to maintain its NPL ratio below 2% for the whole year.
Demand for cross-border payments rises as int’l payments scale
The share of people using int’l real-time payments is rising.
Airwallex now processing $100b annually
This was anchored by its Americas expansion and APAC revenue growth.
Japan’s card payments market value to grow 10.8% in 2024
Credit and charge cards made up 96.5% of all card payment transactions.
PH central bank issues framework for digital payment system operators
Payment system operators are required to obtain a license from the BSP.
8 in 10 Gen Zs keen on AI for enhanced banking, retail experience
About 43% of them have already used AI for shopping.
GHL enables QR payments from ShopBack in Malaysia
The partnership is expected to benefit over 6 million shoppers in Malaysia
Taiwan logs 3.9 billion non-cash payment transactions in H1
There were 28.91 million users of electronic payment accounts in end-June.
Taiwan’s active credit cards rise to 39.24 million in June
Amount of undue balance of installment jumped 48.45%.
WeChat Pay Malaysia ceases e-wallet services
Payment services will cease on 1 September 2024.
Thailand postpones card repayment rate hike amidst borrower struggles: report
The central bank will continue to promote consolidation of home and retail debt.
Hong Kong, China ink MOU for linkage of fast payments systems
Central bankers also discussed financial cooperation between their markets.
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Asian Banking & Finance Fintech Awards 2025 Winner: Bhagavi Sridharan of Aditya Birla Capital Digital
Bhagavi Sridharan explains how the ABCD app offers a seamless, unified experience across diverse financial products.
Commentary
Why APAC banks must rethink their approach to the cost reduction challenge
Thailand backs major conglomerates for digital banks but risks stifling innovation