Cards & Payments
Eight Singapore banks to participate in new eGIRO launch
The digitisation initiative aims to cut down the old GIRO process from weeks to minutes.
Eight Singapore banks to participate in new eGIRO launch
The digitisation initiative aims to cut down the old GIRO process from weeks to minutes.
Hong Kong mulls launching own digital currency: financial secretary
This is part of HKMA's initiative to 'push all banks to go fintech'.
Taiwan card payments market to be worth $187.7b by 2025
The market is forecasted to rebound by over 15% in 2021.
Standard Chartered targets Singaporean millennials in new ‘smart card’
Cardholders can earn up to 6% cashback first when used in digital subscriptions.
Chart of the Week: Malaysia’s card payments market to be worth $80.2b in 2025
Market value is expected to rebound 8.5% in 2020 after declining last year.
Eight in 10 ATMs in APAC are now automated deposit machines: RBR study
Over 1.4 million of 3.1 million ATMs globally now accept automatic note deposits.
Digital payments in the Philippines reach 20.1% in 2020
The central bank said this is a substantial improvement from an estimate of 17%.
Commercial banks to take intermediary roles when CBDCs roll out: S&P
Central banks will prioritise financial stability in this undertaking.
South Korea kicks off cash-back rewards program to boost card use
Card users can receive up to $85 in cashback rewards per month.
The Next Pedestal of the Payments War for Banks and FIs: Buy Now Pay Later
Buy Now Pay Later (BNPL) has seen remarkable growth in recent years and is on track to achieve a global market value of US$700b by 2023. This 90%...
Singapore, Malaysia to link real-time payment systems PayNow, DuitNow
Remittances between the two countries reached S$1.3b in 2020.
FavePay teams up with Google Pay to offer cashback to Singapore users
Google Pay users can get up to a 20% cashback when they pay through SGQR.
Chart of the Week: South Korea’s card payments market to reach $1.2t in 2025
Government incentives will support its continued growth.
Singapore, India to link PayNow, UPI payment systems by mid-2022
Fund transfers from India to Singapore will only need mobile phone numbers.
Wider use of CBDCs for cross-border settlements dents banks’ fee income
Lenders will have to reduce cross-border fees once CBDCs become more mainstream.
Weekly Global News Wrap: Americans miss BNPL payments; Wells Fargo fined $250m
And Mastercard bets on crypto with acquisition of CipherTrace.
APAC countries dominate the world’s most cashless economies
Canada remains the king of cashless countries.
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Technology to underpin future of financial services
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Banking Technology
Banks should boost their online infrastructure as digital assets become the norm.
Banks should boost their online infrastructure as digital assets become the norm.
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