Category : Payments

Can LinePay Become Japan’s WeChat Pay?

Line Corp., the Japanese mobile applications and Internet firm operating Japan’s most popular messaging app Line, has invested US$182 million into its digital payments unit Line Pay Corp, according to a filing. The move follows a challenging year 201...

Rely Nets 7-Figure Funding for Enabling Online Payments in Installments

Rely just announced a seven-figure Pre-Series A funding led by Goldbell Financial Services. Additional funding comes from Octava, a family office based in Singapore among other strategic investors.The exact figure was not disclosed. Rely is a local f...

Singapore Life Diversifies into Payments Through the Acquisition of Canvas

Singapore Life, known for its insurtech business seem to be throwing their hat into prepaid payments card space with their recent acquisition of Canvas, from local payments platform Yolopay. This news comes fresh after Singapore Life’s two fund...

DBS Pilots Loadable QR Red Packets

DBS is introducing a new way to celebrate Chinese New Year (CNY) this year with the pilot launch of a loadable QR red packet (DBS QR Ang Bao). The DBS QR Ang Bao offers a fun, digital twist on the age-old tradition of red packet exchange, allowing DB...

Addressing Hawker’s Cashless Woes, NETS Launches Same-Day Payment Settlement

NETS today announced the launch of same-day settlement for hawkers every day – which they claim to be the fastest in the industry. Despite the Singapore’s fervent push for a cashless society, there are still resistance from some segments of th...

What Does the New Payment Services Act Mean for Singapore?

The Payment Services Bill which has recently been passed into law by the Parliament is part of the Monetary Authority of Singapore’s bid to create a regulatory framework that is more conducive for innovation in payment services. This follows t...

KinerjaPay Receives US$200 Mil Funding From Indonesian Investment Firm

KinerjaPay, a digital payment and e-commerce platform, announced that it has received US$200 from PT. Investa Wahana Group, Indonesia, divided into US$100 million in shares of the Company’s Series F and and another US$100 million in shares of t...

Thailand Accelerates Mobile Payments Adoption

Like its ASEAN counterparts, Thailand is pushing for greater of adoption of mobile payments with industry participants, including government agencies, financial institutions and fintech companies, all actively working towards increasing awareness and...

Razer’s New South East Asia HQ and Fintech Gameplan

Razer, a lifestyle brand for gamers with a recent foray into fintech, announced its plan for a long-term lease of a new location for its Southeast Asia headquarters based in the technology and media hub of Singapore. The company anticipates moving in...

GrabPay Eyes Vietnam and South East Asia Digital Payments Dominance as Competition Heats Up

Grab, Southeast Asia’s first decacorn valued at more than US$10 billion, began its humble beginnings as a ride-hailing app but has since evolved into one of the region’s “super app,” providing varied services ranging from food delivering, logistics s...

Meet 42 Mobile Payment Players Active in Singapore Right Now

As one of the most highly banked populations in Southeast Asia (Standing at 96.4% of banked adults at 2014), Singapore presents a unique ecosystem in the same region. This is part of why Singapore is popularly deemed as one of the fintech hubs of Asi...

Is Cambodia The Next Stop for Grab’s E-Wallet?

Following its entry into Cambodia in 2017, Grab seems likely to bring its e-payment app, GrabPay into Cambodia sometime in 2019 as part of the wallet’s Southeast Asian focus. Cambodia and Myanmar are said to be key considerations for GrabPay...

Mobile Payments in Vietnam: End of 2018 News Roundup

Cashless payments are booming in Vietnam, more than doubling in value over the first three quarters of 2018. In particular, transactions over mobile apps and digital wallets rose by an impressive 126% and 161%, respectively, according to Department o...

GrabPay Mobile Wallet Will Likely Hit Myanmar in 2019

After Grab’s launch into Myanmar in 2017, the ride-hailing giant intends to follow-up with the expansion of their e-wallet GrabPay, in the ride-hailing giant’s ongoing Southeast Asia takeover strategy. GrabPay is considering Myanmar along...

In Thailand you can Pay now with your Smartwatch “Garmin Pay”

Siam Commercial Bank has introduced the Garmin Pay contactless payment solution. This has been done in collaboration with CDG Group, sole distributor of Garmin products in Thailand and MasterCard and Visa. With a virtual SCB MasterCard or Visa credit...