Cards & Payments
Payments’ revenue to grow by $700b in the next five years
Payments’ revenue to grow by $700b in the next five years
APAC accounted for $1.1t of payments revenue as of 2023.
JCB cards now accepted by GHL merchants in Malaysia, Thailand, Philippines
An estimated 480,000 payment touchpoints are involved.
OCBC launches MyOwn bank account for children and teenagers
It will enable them to monitor their account and make PayNow transactions.
OCBC teams up with Disneyto boost new customer growth in SEA
The collaboration will kick off in Singapore with the soft launch of the OCBC MyOwn Account.
OCBC has partnered with Disney in a five-year...
Vietnam’s debit card payments market to be worth $65.6b in 2028
The rising number of banked Vietnamese is pushing up adoption, although payment usage remains low.
Taiwan credit cards’ balance rose in August
But the amount of monthly retail sales was 7.96% lower than in July 2024.
Overseas Filipinos’ remittances up 3.3% to $3.2b in August
Cash remittances coursed through banks rose by 3.2% during the month.
Citi, Mastercard launch global cross-border payments
It will be available in 14 markets worldwide, with plans for further expansion.
Citi launches Token Services for Cash for institutional clients
It is expected to facilitate multi-million dollar cross-border liquidity and payments.
Thailand, Philippine central banks discuss AI, digital payments in bilateral meeting
They discussed the use of AI to support the central bank’s work, amongst others.
India urges banks to review digital payment access for disabled users
They must submit a plan of action for any modification within a month’s time.
QR codes and low costs drive mobile wallet adoption in APAC
Even cash focused countries like the Philippines, Thailand, and Malaysia saw a high level of adoption.
India’s credit and charge card payments market to grow 15.5% in 2024
Credit and charge cards accounted for 75.7% of total card payment value in 2023.
Alipay+ sees overseas use of payment partner apps triple in 9M 2024
Spending for F&B, attractions, and transportation recorded double-digit increases.
Breaking barriers: Building the future of cross border payments in Southeast Asia
Global value of cross-border payments is expected to reach $250t by 2027.
3 in 5 use real-time cross-border payments to send money to family and friends
This is higher than those who use it to pay for goods and services.
Chart of the Week: Malaysia e-commerce sees rise in alternative payments
Brands such as GrabPay and ShopeePay are popular payment methods.
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ABF Corporate & Investment Banking Awards 2024 Winner: Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)
VietinBank won Project Infrastructure Finance Deal of the Year - Vietnam at the ABF Corporate & Investment Banking Awards 2024.
