Search Results for "PayNow"

PayNow Collaborates with Digital Insurer and DBS

The digital insurer FWD and DBS Bank collaborating to provide electronic payment of claims via PayNow. PayNow is an electronic fund transfer service available to customers of any of the seven participating banks: Citibank Singapore Limited, DBS Bank/POSB, HSBC, Maybank,

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OCBC Bank makes PayNow even more seamless by enabling account-to-account QR code transfers

By innovatively marrying QR codes with PayNow’s infrastructure, OCBC Bank has delivered a new level of convenience to funds transfers. PayNow did away with the need to know bank account numbers and “adding payees” when making funds transfers. The OCBC

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MAS Grants In-Principle Approval to Sparrow for Digital Payment Token Services

Digital assets trading platform Sparrow announced that it had secured an in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) license to provide Digital Payment Token (DPT) services. The company said that it is

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Why B2B Payments Is The Next Big Domino in APAC’s Fintech Innovation Wave

In the midst of the Covid-19 pandemic, a 2020 McKinsey report projected that Asia’s payments sector would be well positioned to exceed US$1 trillion in annual revenue by 2022 or 2023, despite also forecasting a temporary 1-8% decline in Asia’s

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There Is No Need for a Digital Sing Dollar Now, Says MAS

The Monetary Authority of Singapore (MAS) believes that there is no pressing need for the issuance of a digital Sing dollar even though the country is ready for it, according to Lawrence Wong, Deputy Chairman of MAS and Minister for

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Singaporeans Can Now Withdraw Government Payouts From OCBC ATMs With GovCash

The Central Provident Fund Board (CPF) has collaborated with OCBC and GovTech to launch the GovCash which replaces cheque issuance for Singaporeans who are unable to use direct bank crediting. This will allow them to receive government payouts more quickly

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Deep Dive: Uncovering Short-term Opportunities for Global Banking

The banking sector in Asia Pacific is filled with opportunity in 2022, whilst also facing intensified competition. Rapid infrastructure developments and emerging technologies coupled with the pandemic have accelerated digital adoption across the region. Industry wide initiatives, most notably the

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Top 5 Fintech Trends in Asia in 2022

With 2021 behind us, fintech experts and industry participants are sharing their predictions for the year to come, looking at the trends that shaped 2021 to predict the top fintech trends in Asia in 2022 Funding activities, industry developments, public

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Singapore Fintech Report 2022: Fintech Reaches Critical Mass in Singapore

In Singapore, the COVID-19 pandemic has acted as a catalyst for fintech adoption, driving demand for digital payment capabilities, virtual banking experiences and buy now, pay later (BNPL) arrangements. Consumers and businesses are signing up en masse to digital banking

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Fintech in Singapore: 2021 in Review

In 2021, Singapore continued to pursue its ambition to become a world leader in fintech innovation, multiplying initiatives to foster green fintech, explore opportunities related on central bank digital currency (CBDC), and lay the foundation for open finance. Leading fintech

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