Category : Payments

E-Wallet Use Overtakes Credit Cards in Philippines, According to Central Bank

Philippines’ central bank reported that e-wallet penetration is growing faster in the Philippines and has surpassed credit card numbers. Bangko Sentral ng Pilipinas (BSP) released this information in a financial inclusion dashboard, which state...

Go-Jek Has Brought in Rival E-Wallet LinkAja Into its Ecosystem

Go-Jek announced that it will integrate its rival e-wallet, LinkAja by the end of this year, which means that it will operate alongside Go-Pay within its extended ecosystem. Go-Pay is an extension of Go-Jek and often, seen as a rival to LinkAja. The...

Grab’s New Investor Could Be The Missing Piece To Help it Reach Underbanked Asian Markets

Experian, a globally-known information services company, has invested into Grab and is now another notch into the ride-hailing platform’s quest to US$6.5 billion in an ongoing Series H by the end of 2019. Experian’s investment value has n...

Red Dot Payment Acquired By Dutch Company and Now Valued at US$65 Mil

Fintech and payments organisation PayU just acquired majority stake in Red Dot Payment (RDP), a Southeast Asia focused online payment solutions provider. Now, the Netherlands-based PayU will utilise the purchase to expand into Southeast Asia in a bi...

NETS Enables Over 500 Singaporean Hawkers to Accept Cashless Payments

22 coffee shops, 10 hawker centers and 12 industrial canteens have adopted a unified digital payment solution provided by NETS, Enterprise Singapore said on June 29. The solution combines in one point-of-sales terminal and a single SGQR label a total...

Grab is Now US$300 Mil Closer to Lofty US$6.5 Bil Goal it Needs to Hit By End of 2019

Grab just announced an additional investment of US$300 million from Invesco , a global independent investment management company. The additional investment in Grab takes Invesco’s overall total input into the ride-hailing-turned-potential-virtual-ban...

Singapore’s Fintech Adoption Has Increased by Almost Three Times in Just Two Years

In just two years, the rate of Fintech adoption among Singapore consumers has almost tripled, according to the EY Global FinTech Adoption Index 2019. Singapore’s adoption rate jumped from 23% to 67% between 2017 to 2019. The jump positions Sing...

Visa Said Their AI-Powered Fraud Detection Helped Prevent US$25 Bil in Fraud Annually

Visa just announced that their Visa Advanced Authorisation (VAA) process, done using artificial intelligence, has helped financial institutions prevent an estimated US$25 billion in annual fraud. VAA, used by Visa themselves, is a comprehensive risk...

Line Founder Thinks its US$182 Mil Worth Fintech Arm Could Break Even in Two Years

Following the announcement of Line’s fintech ambitions, the Japan-based company with WeChat Pay-like financial ambitions claims that it may see the new arm break even as early as one to two years, according to Bloomberg. The claim is notable, a...

Two Vietnamese Payments Startups are Merging and Raising US$30 Mil in Funding

Two Vietnamese payments startups, Vimo Technology and Vietnam MPOS Technology have merged to form a brand new entity NextPay according to Bloomberg. Vimo Technology operates a mobile wallet provider, while Vietnam mPOS Technology, as the name suggest...

Singtel’s Dash to Enable In-App Taxi Booking from ComfortDelGro Soon

Singtel announced a strategic partnership with ComfortDelGro Taxi to enable in app taxi booking within Singtel’s Dash App. Through this partnership, Singtel’s Dash user will be able to procure services from ComfortDelGro’s 12,000 st...

Indonesia’s Central Bank Governor Unveils 5 Key Payments Initiative

Bank Indonesia Governor, Perry Warjiyo recently unveiled “Indonesia’s Payment System 2025 Vision” a strategic framework consisting of 5 key initiatives to future proof Indonesia’s payments ecosystem for a digital future. Accor...

Bukalapak’s Fintech Could Outgrow its E-Commerce, Said Co-Founder

One cannot talk about startups in Indonesia without bringing up Bukalapak, arguably one of the biggest e-commerce platforms in the nation. Bukalapak has graduated from its startup roots and gained the coveted title of Indonesian unicorn. They are now...

With SG$1.5 Mil Loaded for CNY, DBS Extends its QR-Backed Money Packets for Raya

Following the launch of its loadable QR-backed Ang Baos (red packets) earlier this year, DBS is now offering the same this Raya season with the quintessential Hari Raya green packets, in hopes of fostering cashlessness in these usually high-cash acti...

Youtrip, a Multi-Currency Travel Wallet, Closed US$25.5 Mil in a Pre-Series A Funding

YouTrip, a multi-currency mobile wallet with a prepaid Mastercard, has successfully raised US$25.5 million in a pre-Series A. Participating investors include major Asian family offices and venture capital firm Insignia Ventures Partners, founded by e...