Cards & Payments
Eight in 10 ATMs in APAC are now automated deposit machines: RBR study
Eight in 10 ATMs in APAC are now automated deposit machines: RBR study
Over 1.4 million of 3.1 million ATMs globally now accept automatic note deposits.
Digital payments in the Philippines reach 20.1% in 2020
The central bank said this is a substantial improvement from an estimate of 17%.
Commercial banks to take intermediary roles when CBDCs roll out: S&P
Central banks will prioritise financial stability in this undertaking.
South Korea kicks off cash-back rewards program to boost card use
Card users can receive up to $85 in cashback rewards per month.
The Next Pedestal of the Payments War for Banks and FIs: Buy Now Pay Later
Buy Now Pay Later (BNPL) has seen remarkable growth in recent years and is on track to achieve a global market value of US$700b by 2023. This 90%...
Singapore, Malaysia to link real-time payment systems PayNow, DuitNow
Remittances between the two countries reached S$1.3b in 2020.
FavePay teams up with Google Pay to offer cashback to Singapore users
Google Pay users can get up to a 20% cashback when they pay through SGQR.
Chart of the Week: South Korea’s card payments market to reach $1.2t in 2025
Government incentives will support its continued growth.
Singapore, India to link PayNow, UPI payment systems by mid-2022
Fund transfers from India to Singapore will only need mobile phone numbers.
Wider use of CBDCs for cross-border settlements dents banks’ fee income
Lenders will have to reduce cross-border fees once CBDCs become more mainstream.
Weekly Global News Wrap: Americans miss BNPL payments; Wells Fargo fined $250m
And Mastercard bets on crypto with acquisition of CipherTrace.
APAC countries dominate the world’s most cashless economies
Canada remains the king of cashless countries.
CIMB Niaga, JCB launch contactless credit card In Indonesia
Transactions below $70 (IDR1m) do not require customers to enter a pin.
Australia mulls requiring banks to offer lower-cost debit payment systems: report
Federal treasurer Josh Frydenberg has written to regulators to allow businesses to choose cheaper domestic systems.
HSBC Amanah bags Credit Card Initiative of the Year - Malaysia at ABF Retail Banking Awards 2021
Its ESG Charity credit card feature highlights the bank’s commitment to sustainability.
Chart of the Week: Australia card payments value to rebound 8.3% in 2021
The rising use of contactless and e-commerce payments will support the growth of the segment.
Chinese banks’ posed for e-payment scene comeback with digital renminbi’s launch
The e-CNY will support growth of banks’ e-payment customer base and improve overall financial stability.
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CEO Phlaphongphanich said the industry is measuring the wrong things.
Commentary
Perth is emerging as an unlikely testbed for the future of global finance
Buy now, worry later: The hidden cost of BNPL