Cards & Payments
South Korea card payments up 7% in July despite COVID resurgence
South Korea card payments up 7% in July despite COVID resurgence
Online card payments are 28% higher than in July 2020.
NAB buys Citi’s Australian consumer business for $882m
Citi Australia’s senior management and about 800 employees are expected to join NAB.
Hong Leong Bank, Mastercard launch debit card in Cambodia
Until October, 1% of each transaction made using the card will be donated to Kantha Bopha Children's Hospital.
Weekly Global News Wrap: Tether execs face criminal probe for bank fraud; Credit Suisse taps Goldman Sachs partner as new chief risk officer
And PayPal to research US transactions that fund hate groups and extremists.
Higher adoption of QR payments ramps up Singapore’s cashless transition
In January, 1.2 million transactions were carried out via the SGQR.
OCBC enables Singaporeans to directly view, pay tax in digital bank platform
Customers have the option to pay their tax balances in full or partially.
'Buy now, pay later' speaks to convenience as more Filipinos remain unbanked
Bypassing credit cards, the payment instalment options prove to be attractive.
India bans Mastercard from issuing new cards in the country
Mastercard has not complied with data storage rules, the Reserve Bank of India said.
Fintechs could overtake Philippine banks in retail segment: Moody’s
Banks' slow development of digital financial services may just give fintechs an edge.
Chart of the Week: Philippine card payments market value to grow to $43.4b in 2021
Debit cards dominate in the Philippines with 90.6 million in circulation.
Real-time payment ties cash as preferred payment method in SEA markets
Three in five consumers from four markets name it as their favoured way of paying.
South Korea mulls cashbacks for credit card spending to boost consumption
The government reportedly plans to set the ceiling of cash back rewards per person.
Chart of the Week: Japan’s credit card payments to grow 9.2% in 2021
Easing of restrictions, government support, and the Olympics will support growth.
Chart of the Week: South Korean card payments to grow 4.9% through 2024
Average frequency of use is 136.2 times in 2020, higher than in France, US, and UK.
India’s largest bank invests in payment services provider Cashfree
Cashfree processes $20b worth of transactions annually.
Maybank introduces two new designs for Family & Friends Card
New customers may choose between the original black, as well as the new lilac and silver designs.
Pandemic accelerates Singapore’s cashless push by four years: Visa study
About 31% of locals pick contactless cards as their most preferred payment options.
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