Search Results for "PayNow"

Aleta Planet Partners Tencent to Offer Remittance From Singapore to China

Singaporean payments service provider Aleta Planet has partnered with Tencent Financial Technology to enable local residents to remit money to Weixin users in China. Aleta Planet said that this is the first time Tencent Financial Technology has partnered with a

Read More

Instant Cross-Border Payments Will Soon Become a Reality in APAC

Rapid adoption of instant payments and the proliferation of national real-time payment rails are making Asia-Pacific (APAC) a leader in real-time transfers. This, coupled with efforts to make cross-border payments faster and most efficient, are turning the region into a

Read More

Fintech Adoption Surges in Southeast Asia, Led by Digital Payments and Online Lending

Usage of digital financial services is witnessing strong growth in Southeast Asia this year, a trend mostly driven by digital payments and digital lending adoption, according to the eConomy Southeast Asia Report 2021. The annual report, produced by Google, Temasek

Read More

“No Pressing Need” for a Digital Singapore Dollar Despite Benefits

There is “no pressing need” for a retail central bank digital currency (CBDC) in Singapore at this point in time, but market shifts and changing customer expectations are nevertheless forcing the central bank to prepare for a possible issuance in

Read More

Singapore and the Philippines Ink Deal for Cross-Border QR Payments Linkage

The Monetary Authority of Singapore (MAS) and the Bangko Sentral ng Pilipinas (BSP) today signed a deal to to facilitate interoperable payments between the two countries. The enhanced Fintech Cooperation Agreement (CA) builds on the earlier 2017 agreement to broaden

Read More

McKinsey: APAC Continues to Lead Global Payments Revenue Despite 2020 Decline

Despite a slight decline, Asia-Pacific (APAC) continued to dominate the global payments landscape in 2020. With approximately US$900 billion in revenue, the region accounted for 47% of global payments revenues, according to the 2021 McKinsey Global Payments Report. This year,

Read More

Google Pay Ties up With Fave to Offer Singaporean Users Loyalty Cashback

Fave, a fintech platform providing QR payments to restaurants and retailers, has announced a partnership with Google Pay to offer cashback to its Singaporean users. Merchants will now be able to connect with Google Pay users via the FavePay SGQR

Read More

BIS, MAS Plots Blueprint for a Global Real-Time Retail Payments Network

The Bank for International Settlements Innovation Hub Singapore Center and the Monetary Authority of Singapore (MAS) published a proposed blueprint to enhance the global payments network connectivity via multilateral linkages of countries’ national retail payment systems. Titled Project Nexus, this

Read More

Real-Time Digital Payments Soar in Southeast Asia

In Southeast Asia, real-time payment schemes are entering the mainstream with many consumers now favoring the payment option over cash, a shift caused by changing payment necessities and preferences amid the COVID-19 pandemic, a new research by industry player ACI

Read More

Singapore’s Incumbent Banks: How Are They Stepping Up Their Digital Game?

In December 2020, the Monetary Authority of Singapore (MAS) announced four successful digital bank applications. Out of 14 eligible applicants, the four successful entities – a consortium comprising Singapore Telecommunications Ltd (Singtel) and Grab Holding Inc. (Grab), a consortium of

Read More