Singapore

But core businesses are expected to show resilience.

The global payments firm is investing $20m.

The programme is available to employees in Singapore, Hong Kong, and Japan initially.

It aims to give liquidity for international trade finance activities and other commercial activities.

The company can now offer services exclusive for MPI licence holders.

The regulator said appropriate measures will be taken for FIs who will breach these sanctions.

And 6 in 10 SG consumers tried to go cashless in bills payment.

Consumers can use the card for online purchases with Pace merchants.

Project Ellipse aims to identify potential risks to individual banks and the banking system.

The group also reported a 40% surge in net profits for 2021.

Jia Hang will be based in Singapore.

But consumers’ aversion to debt pulls back wider adoption, RFI Global found.

It’s the first fintech in SEA to acquire an established bank’s loan portfolio.

The working group is calling out to local organisations offering BNPL to join their ranks.

In November, Singapore’s National AI Office (NAIO) collaborated with the Monetary Authority of Singapore (MAS) and the Smart Nation and Digital Government Office (SNDGO) in a programme to strengthen AI capabilities within Singapore’s financial sector by providing financing and access to government data. In fact, even before the pandemic, the financial services industry has already been witnessing an acceleration in digital transformation. 

Digital payment methods chip away at card use and bank transfers.   Buy now, pay later (BNPL) market is projected to grow at a compound annual growth rate (CAGR) of 40% through 2025 to become the fastest growing online payment method in Singapore, reports FIS.