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November 14, 2022

On the web

Southeast Asia Central Banks Ink Deal to Boost Cross-Border Payments


“Five central banks in Southeast Asia have signed a deal to make cross-border payments faster and cheaper as part of efforts to deepen financial integration in the region. The central banks of Indonesia, Malaysia, Singapore, the Philippines and Thailand on Monday said they expect the deal to be a “significant contributor to accelerating regional economic recovery and promoting inclusive growth,” supporting cross-border trade, investment, remittance, tourism and other things. The deal will include cooperation on QR codes and fast payment, the banks said in a joint statement, without elaborating further.”

September 27, 2022

On the web

ComBank Introduces Breakthrough ‘Tap to Phone’ Payments Acceptance with PAYable (Sri Lanka)

Colombo Page

“The Commercial Bank of Ceylon has become the first Sri Lankan Bank to introduce card acceptance through Android smartphones, allowing its merchants to conveniently and cost effectively accept card payment transactions, changing the landscape of the digital payment industry in Sri Lanka with this state-of-the-art low-cost technology. The Bank has announced that it is providing this facility in collaboration with PAYable Pvt Ltd. one of Sri Lanka’s leading fintech and digital payment solutions providers, and has integrated its payment system with PAYable SoftPOS, also known as PAYableTAP, which was developed in partnership with Mastercard and Worldline, a technology company that provides digital payment platforms to the financial sector. This solution converts any NFC-enabled Android smartphone into a payment acceptance terminal. To enjoy the convenience of this facility, merchants simply have to download the PAYableTAP app, register with Commercial Bank, and perform Tap and Pay transactions by simply allowing cardholders to tap their NFC enabled credit or debit cards on the screen of the device to make payments. The first of its kind in Sri Lanka, the SoftPOS solution is built on cutting-edge, secure digital payment technology and is one of the easiest to use, the Bank said. Commercial Bank certified this new technology with card schemes, and the Bank guarantees the security of the smartphone POS transactions to be the same as traditional POS transactions.”

August 27, 2021

On the web

Credit Lender Kredivo Expands to Vietnam

The Jakarta Post

“Following an announcement that it would go public, credit lending start-up Kredivo said on Friday that it had expanded operations to Vietnam as its first market outside Indonesia. The start-up wrote in a statement that it had formed a joint venture, Kredivo Vietnam Joint Stock Company, with Vietnamese investment firm Phoenix Holdings to facilitate the expansion. The joint venture will be operated by VietCredit.”

August 18, 2021

On the wires

PayU and Red Dot Payment Expand Merchants’ Access to South East Asia Through Visa and Mastercard Acquiring Licenses

PayU , the payments and fintech business of Prosus, today announces that its controlled company Red Dot Payment , a South East Asia focused online payment solutions provider, has received direct acquiring licenses and connectivity to Visa and Mastercard. The expansion of PayU’s offering in South East Asia with Red Dot Payment’s direct credit card acquiring license opens up new opportunities for merchants to offer card payments and process payments locally. New capabilities will be available to both domestic merchants expanding across borders and international merchants integrated with the PayU Hub, PayU’s global platform to process cross-border payments.”

July 7, 2021

On the wires

Real-Time Payments Now As Popular As Cash in Southeast Asia As Pandemic Accelerates Digitization of Payments, New ACI Worldwide Research Reveals

“Real-time payments are now as popular as cash as a payment method for consumers in Southeast Asia, according to new research from ACI Worldwide (NASDAQ: ACIW) and YouGov . Three out of five consumers (61%) in Indonesia, Malaysia, Thailand and Singapore prefer real-time payments as a favored way to pay in 2021, level with cash (61%) and higher than other payment categories, including digital wallets requiring cash or card top-ups (56%) and credit cards (30%).”

June 24, 2019

On the web

Razer Goes Big on Payments With Visa Prepaid Card


“On Monday, Razer, the Singapore-based company best known for its gaming laptops and peripherals, announced a partnership with Visa to develop a Visa prepaid solution. The service, which allows unbanked users to top up and cash out easily, will be available as a mini program embedded in Razer Pay, the gaming company’s mobile payments app. That means Razer’s 60 million registered users will be able to pay at any of the 54 million merchant locations around the world that take Visa.”

October 24, 2018

On the web

July 25, 2018

On the web

Kredivo Raises $30M To Build A Digital Credit Card For Southeast Asia


The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially the combination of a digital credit card and PayPal. The service is available in Indonesia, Southeast Asia’s largest economy, where it uses a customer’s registered phone number — there is no physical credit card — and a dedicated checkout on online retail websites. For consumers, the service offers a 30-day payback option and then more longer-term options of three, six and 12-month payback windows. The 30-day option is interest-free, but other plans come with a 2.95 percent per month charge on the reducing principle, which effectively makes it 25 percent flat.”

March 16, 2018

On the web

Ride-Hailing Company Grab Teams Up With Credit Saison to Launch Financial Services: Looks to Expand Access to Credit for Southeast Asia’s Unbanked

Crowdfunding Insider

“According to the duo, the joint venture company, which is called Grab Financial Services Asia, will draw on Grab’s reach to millions of Southeast Asian consumers, micro-entrepreneurs and small businesses, and vast datasets on consumer behaviour, as well as Credit Saison’s expertise in credit analysis and consumer lending, to offer micro-financing products and services tailored specifically for Southeast Asia’s growing economies.”

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