From navigating ‘irrational’ market incentives to achieving operational profitability, DANA CEO Vince Iswara breaks down the contrarian strategies behind scaling Indonesia’s leading digital wallet to 200 million users. He reveals the critical pivot from high-burn growth to sustainable unit economics and why maintaining an ‘underdog’ mindset was essential for survival.

RedotPay has partnered with Ripple to expand its stablecoin payment capabilities. Concurrently, RedotPay is launching its “Send Crypto, Receive NGN” feature and extending multi-market payouts via Ripple’s cross-border payment solution, Ripple Payments. The new feature allows verified users with local bank accounts to convert digital assets into Nigerian naira (NGN), providing faster and lower-cost payouts. “Delivering near‑instant, cost-effective NGN payouts is a significant milestone,” said Michael Gao, CEO and Co‑Founder of RedotPay. “RedotPay is building stablecoin-powered payments that make digital assets as easy to use as local currency, where users can send XRP or stablecoins securely and receive NGN within…

Fintech firm Razorpay has announced a major regulatory milestone, securing the cross-border payments aggregator license from the Reserve Bank of India (RBI). The approval allows Razorpay to expand its regulated role in facilitating cross border transactions for Indian and global businesses. The authorisation enables Indian merchants to continue accepting payments in more than 130 international currencies. It also simplifies the entry process for overseas companies by allowing them to accept local payment methods, including UPI, without first establishing a local corporate entity. Razorpay is already the largest non-bank player in India’s cross border payments segment and supports global brands such…

Visa and Amazon Web Services (AWS) have partnered to support agentic commerce, where AI agents can manage tasks and complete transactions. Visa will list its Visa Intelligence Commerce platform on AWS Marketplace, giving developers access to authentication, agentic tokenisation, data personalisation and user intent tools. The companies will also publish public blueprints in the Amazon Bedrock AgentCore repository. The blueprints are designed for multi-network agentic workflows and help developers build and connect processes for retail shopping, travel booking and payment reconciliation. They use Bedrock AgentCore components for identity, runtime, gateway, memory and observability, and integrate with the Visa Intelligence Commerce…

HSBC has entered a multi-year partnership with Mistral AI to expand the use of generative AI across the bank. The agreement provides access to Mistral’s commercial models, including future releases, and brings both organisations’ applied science and engineering teams together to develop new AI applications. The bank plans to deploy Mistral’s models as self-hosted systems within its internal technology environment, supporting ongoing AI initiatives such as a productivity platform used by staff worldwide. HSBC said the collaboration will help teams produce tailored client communications more quickly, support marketing campaigns and strengthen procurement analysis. It will also improve financial assessments for…

Thai police have arrested 327 suspects and 55 recruiters and ringleaders linked to mule-account networks as part of a nationwide crackdown and a wide-ranging effort to address financial crime in Thailand. The arrests were part of the nationwide “Lightning Strike: Shaking Mule Accounts Across the Country” operation, conducted between November 18 and 26, 2025. The operation sought to dismantle criminal networks, targeting account holders who rent out or sell their bank accounts for criminal use, as well as the recruiters who organize them, The Nation Thailand reported. Police Lieutenant General Jirabhop Phuridej, Assistant National Police Chief and Deputy Director of…

OCBC is preparing to let its Singapore customers make mobile payments in mainland China by scanning WeChat Pay QR codes directly through the bank’s app. The development was first reported by The Edge and follows an agreement OCBC concluded with UnionPay International at the end of November. Rather than relying on separate payment apps, travellers will be able to settle purchases in China with funds drawn straight from their OCBC Singapore accounts once the feature goes live. OCBC expects to introduce the capability in the first quarter of 2026 and is integrating it through NETS’ cross-border payment infrastructure, which supports…

Fiuu, a payments provider focused on Southeast Asia, has enabled its Singapore merchants to accept quick, in-person contactless payments using Tap to Pay on iPhone. The feature is available through the Fiuu Virtual Terminal app on iOS and allows businesses to accept contactless credit and debit cards, Apple Pay and other digital wallets using only an iPhone. No additional hardware or payment terminal is required. Transactions are processed by holding a contactless card or device near the merchant’s iPhone, which uses NFC technology to complete the payment. The service supports PIN entry and offers accessibility options. Tap to Pay on…

More than 270 former customers of shuttered crypto exchange Tokenize Xchange have filed a collective lawsuit in the High Court seeking S$60.5 million in damages from founder Hong Qi Yu and his wife, former chief operating officer Erin Koo Kee Hoon. The suit accuses the pair of fraudulent misrepresentation and misappropriating customer funds, according to court papers reported by The Straits Times. Six Singapore residents are leading the representative action on behalf of 272 affected users. The amount claimed reflects the value of their assets on the platform as recorded in the filings or at the time they attempted to…

Thunes Asia is set to expand its regulated services in Singapore after receiving an in-principle approval from the Monetary Authority of Singapore. The approval allows the company to move toward a variation of its Major Payment Institution license, which will widen the range of services it can offer once the variation is formally granted. Thunes Asia currently provides cross-border money transfer services, and the variation would add account issuance, domestic money transfers, merchant acquisition and e-money issuance. The license expansion is expected to enable Singapore merchants to accept payments from customers in the rest of the world through more international…

The Greater Bay Area (GBA) in China is rapidly establishing itself as a leading global hub for economic integration, technological advancement, and innovation. With a projected GDP of US$4 trillion by 2030 and accounting for a significant portion of China’s exports and imports, the GBA is poised to rival major economic regions like San Francisco and Tokyo Bay. This growth is fueled by robust infrastructure, proactive government support, and the adoption of groundbreaking technologies such as artificial intelligence (AI) and machine learning. Businesses operating in the GBA are focused on enhancing supply chain resilience and tapping into lucrative ASEAN markets.…

YouTrip has launched its service to Australian travellers, making the country its third market and its first new launch since the pandemic. Australia is one of the region’s most active outbound travel markets. The Australian Bureau of Statistics recorded 12.3 million international trips in the past 12 months, while Australians spent more than A$50 billion on leisure travel. YouTrip said many travellers continue to lose value through inflated exchange rates and hidden fees from traditional cards and money changers. The company is extending its real-time mid-market rates and zero FX fee model, already used in Singapore and Thailand, to Australian…

Amazon Web Services (AWS) and Google Cloud have teamed up to offer a simpler way for businesses to link their networks across both platforms. The companies introduced a jointly engineered multicloud networking solution that lets customers set up private, high-speed connections with faster provisioning and fewer manual steps. The system combines AWS Interconnect multicloud capabilities with Google Cloud’s Cross-Cloud Interconnect and introduces an open specification for network interoperability. AWS had initially proposed a unified standard that any provider could adopt and worked with Google Cloud to bring it to market. Customers who once needed weeks to arrange physical circuits and…

Antom, the merchant payment and digitisation services provider under Ant International, has rolled out major upgrades to Antom Copilot. The upgrade aims to automate more of the payment workflow and help merchants manage rising payment complexity. The AI-driven tool is integrated into the Antom Merchant Portal and now delivers enhanced automation and tailored assistance based on learnings from real-world cases. The updated system supports the full payment cycle, including onboarding, integration, dispute handling, risk control and improving payment success rates. Antom said the tool uses domain-trained intelligence that works like a virtual team of specialists, cutting processing time and reducing…

Ripple has gained the green light to extend its licensed payment offerings in Singapore as part of an expanded scope granted by the Monetary Authority of Singapore (MAS). The approval allows Ripple Markets APAC to broaden the regulated payment activities it provides under its Major Payment Institution (MPI) license. The company said the move deepens its ability to serve customers in Singapore and reflects its position as one of the few blockchain-enabled institutions globally with this level of regulatory approval. Ripple obtained its full MPI license in 2023 to offer regulated digital payment token services in Singapore. Ripple Payments, the…

The Association of Banks in Singapore (ABS) and the Monetary Authority of Singapore (MAS) say the 24-hour safeguard still applies even when customers move money to their own accounts at other banks, as ownership cannot be verified across institutions. Singapore’s major banks will now automatically delay digital transfers that move more than half of an account’s balance within a day. The measure, which took effect on 15 October, covers current and savings accounts, including joint accounts, with balances of at least S$50,000. The two bodies were responding to letters in The Straits Times that raised concerns about delays linked to…

The Singapore Fintech Festival (SFF 2025) completed its 10th edition with its largest turnout to date. The event concluded on 14 November and marked ten years of collaboration focused on building a more open, connected and inclusive financial ecosystem. More than 70,000 participants from 142 countries and regions attended, reflecting the event’s continued draw for regulators, financial institutions and technology firms. The festival continues to serve as a global platform for policy dialogue, industry and regulatory innovation and cross border cooperation on the future of financial services. This year’s theme, Technology Blueprint for the Next Decade of Finance, shaped discussions…

Piyush Gupta will join Temasek in an advisory capacity as Chairman, India, effective 1 December. In this non-executive role, he will work closely with Ravi Lambah, Head of Strategic Initiatives and Head of India, and the India team on investment strategies. He will also support Temasek portfolio companies in identifying opportunities in India and engage with the Indian government and business communities with an institutional focus. Gupta was CEO of DBS Group from 2009 to 2025, leading its digital transformation and regional expansion. He is currently Deputy Chairman of Keppel, Chairman of the Board of Trustees of Singapore Management University,…

The World Economic Forum and the People’s Committee of Ho Chi Minh City established the Vietnam Centre for the Fourth Industrial Revolution (C4IR Vietnam). It has signed a strategic partnership with Ant International through a MoU. The partnership aims to advance Vietnam’s digital economy, foster innovation, and support Ho Chi Minh City’s (HCMC) ambition to become an international financial centre and a regional fintech hub. Vietnam’s Prime Minister Pham Minh Chinh and HCMC People’s Committee Chairman Nguyen Van Duoc officiated the announcement at the Ho Chi Minh City Economic Forum 2025. The collaboration seeks to accelerate Vietnam’s Fourth Industrial Revolution…

Ant International’s WorldFirst is expanding into enterprise services with an AI-driven financial suite built for digital platforms operating across borders. The solution brings checkout, business accounts, global spend tools, AI FX, foreign exchange, treasury functions and embedded finance into a single API. It targets large digital enterprises across e-commerce, the gig economy, SaaS and online travel. WorldFirst said the service is supported by its global account infrastructure and licensing network, which spans more than 200 markets and over 60 approvals. It uses Ant International’s Falcon AI model for liquidity and FX forecasting with more than 90 percent accuracy. The platform…