Cards & Payments
Indonesia, Malaysia, Thailand ink MOU for cross border bilateral transactions
The new framework is expected to synergise with cross-border payment initiatives.
PayPal is most popular digital payment option in Asia: study
In the BNPL space, Klarna, Atome, and Afterpay are the region’s most popular choices.
India’s card payments market to rise 28.6% to $337.1b in 2023
Consumers in India are increasingly embracing electronic payments, GlobalData said.
SEA payment transactions to climb $54t by 2027 – report
Vietnam and Indonesia will have the biggest share in payment transaction volume.
Survey shows half of commuters in APAC need a more efficient way of paying their fare – Visa
About 45% of commuters from APAC were open to fare capping if implemented.
Carbon offset purchases to be a $100b market by 2030
Financial institutions will play a large role in enabling carbon credit financing and carbon offset purchases, says Deloitte.
Chart of the week: alternative payments used in 1 in 3 online shopping transactions
Singapore’s e-commerce market is forecast to grow by 15% this year.
India’s card payments to triple in size by 2027: GlobalData
It is expected to triple in size to $728.2b in 2027 from last year’s $262.1b.
Citi Global Wealth unveils ULTIMA credit card for private bank clients
Singapore’s UHNW clients’ spending outpaced pre-pandemic spending by 56%.
Luxury travel retailer DFS taps Alipay+ to offer cross-border payments for Asian travellers
DFS and Alipay are also developing other membership offers and rewards.
Hong Leong Bank, JCB, Soft Space drive JCB card use in Malaysia
Sofitel Kuala Lumpur Damansara has begun accepting JCB card payments.
UnionDigitalBank, Capital A launch embedded finance services in the Philippines
Amongst services to be offered is the “Fly Now, Pay Later” flexible payment option.
Singapore to eliminate use of all corporate cheques by 2025
Cheque transactions have declined by almost 70% between 2016 to 2022.
Public-private cooperation and partnership are key to advancing CBDCs
Whilst the merits of CBDCs are still widely debated, central and commercial banks are actively exploring the use of CBDCs in local markets.
BigPay revamps mobile application interface
The redesign now features a floating navigation bar.
Chart of the Week: 1 in 3 online transaction in Australia use alt payments
The e-commerce market will be worth $51b in 2023, according to GlobalData.
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