Payments News

On The Web

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Global

Southeast Asia Central Banks Ink Deal to Boost Cross-Border Payments

“Five central banks in Southeast Asia have signed a deal to make cross-border payments faster and cheaper as part of efforts to deepen financial integration in the region. The central banks of Indonesia, Malaysia, Singapore, the Philippines and Thailand on Monday said they expect the deal to be a “significant contributor to accelerating regional economic […]
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Global

ComBank Introduces Breakthrough ‘Tap to Phone’ Payments Acceptance with PAYable (Sri Lanka)

“The Commercial Bank of Ceylon has become the first Sri Lankan Bank to introduce card acceptance through Android smartphones, allowing its merchants to conveniently and cost effectively accept card payment transactions, changing the landscape of the digital payment industry in Sri Lanka with this state-of-the-art low-cost technology. The Bank has announced that it is providing […]
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Global

Credit Lender Kredivo Expands to Vietnam

“Following an announcement that it would go public, credit lending start-up Kredivo said on Friday that it had expanded operations to Vietnam as its first market outside Indonesia. The start-up wrote in a statement that it had formed a joint venture, Kredivo Vietnam Joint Stock Company, with Vietnamese investment firm Phoenix Holdings to facilitate the […]
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Companies

Razer Goes Big on Payments With Visa Prepaid Card

“On Monday, Razer, the Singapore-based company best known for its gaming laptops and peripherals, announced a partnership with Visa to develop a Visa prepaid solution. The service, which allows unbanked users to top up and cash out easily, will be available as a mini program embedded in Razer Pay, the gaming company’s mobile payments app. […]
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Global

Kredivo Raises $30M To Build A Digital Credit Card For Southeast Asia

“The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially the combination of a digital credit card and PayPal. The service is available in Indonesia, Southeast Asia’s largest economy, where it uses a customer’s registered phone number — there […]
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Global

Ride-Hailing Company Grab Teams Up With Credit Saison to Launch Financial Services: Looks to Expand Access to Credit for Southeast Asia’s Unbanked

“According to the duo, the joint venture company, which is called Grab Financial Services Asia, will draw on Grab’s reach to millions of Southeast Asian consumers, micro-entrepreneurs and small businesses, and vast datasets on consumer behaviour, as well as Credit Saison’s expertise in credit analysis and consumer lending, to offer micro-financing products and services tailored specifically for Southeast Asia’s growing economies.”

On The Wires

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Global

PayU and Red Dot Payment Expand Merchants’ Access to South East Asia Through Visa and Mastercard Acquiring Licenses

“PayU , the payments and fintech business of Prosus, today announces that its controlled company Red Dot Payment , a South East Asia focused online payment solutions provider, has received direct acquiring licenses and connectivity to Visa and Mastercard. The expansion of PayU’s offering in South East Asia with Red Dot Payment’s direct credit card acquiring license opens […]
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Global

Real-Time Payments Now As Popular As Cash in Southeast Asia As Pandemic Accelerates Digitization of Payments, New ACI Worldwide Research Reveals

“Real-time payments are now as popular as cash as a payment method for consumers in Southeast Asia, according to new research from ACI Worldwide (NASDAQ: ACIW) and YouGov . Three out of five consumers (61%) in Indonesia, Malaysia, Thailand and Singapore prefer real-time payments as a favored way to pay in 2021, level with cash […]