FinTech

Seven in ten consumers in Malaysia are now using contactless cards for payments, said a recent study done by global payment firm Visa.

Tencent Cloud, the cloud business of China-based tech company Tencent, has on Wednesday announced its collaboration with Allo Bank, Indonesia’s largest digital banking platform, to enhance digital banking in the country.

Touch ‘n Go eWallet users are now able to conveniently payat more areas under the 19 enabled councils, with complete coverage for both Kuala Lumpur and Selangor areas in Malaysia. The newly enabled councils are the Majlis Perbandaran Klang, MajlisBandaraya Seremban - Nilai, and Majlis Perbandaran Ampang Jaya.

Despite the economic challenges faced post-pandemic, Indonesia has seen a 28 percent growth in the market share of peer to peer (P2P) lending in just 6 months, YouGov's study showed on Monday. The study further solidifies the position of fintech in Indonesia, particularly P2P lending, as an attractive investment instrument for the public.

Real-time global payments firm Nium has on Monday announced the opening of its new headquarters in Singapore. The new headquarters is Nium’s strategic hub for serving clients across Asia Pacific, the Middle East, and Africa.

SUNRATE, an intelligent global payment and treasury management platform based in Singapore, has announced on Tuesday that Prosperity7 Ventures, the diversified growth fund under Aramco Ventures, has made an investment in the company in its latest D-1 funding round.

Interest in lending products in Southeast Asia (SEA) has risen by 15 percent since 2020, according to an investment platform Robocash Group. The fastest growing segment of lending in the region is related to online loans.

Thailand-based consumer financial services company Krungthai Card Public Company Limited (KTC) has partnered with China-based technology firm Ant Group to launch has launched 'Alipay+', a suite of global cross-border digital payment and marketing solutions, on KTC's payment gateway.

Pouch, the lightning payment operator in the Philippines, has introduces its latest app feature "Send Globally" to facilitate instant, low-cost, and safe money transfers from the Philippines to any bank account in the United States.

Pakistan's embedded finance platform Neem has entered into a strategic investment partnership with DNI Group, a South African investment firm operating across 28 countries, to revolutionize finance across emerging markets.