Cards & Payments
Taiwan’s active credit cards rise to 39.24 million in June
Taiwan’s active credit cards rise to 39.24 million in June
Amount of undue balance of installment jumped 48.45%.
WeChat Pay Malaysia ceases e-wallet services
Payment services will cease on 1 September 2024.
Thailand postpones card repayment rate hike amidst borrower struggles: report
The central bank will continue to promote consolidation of home and retail debt.
Hong Kong, China ink MOU for linkage of fast payments systems
Central bankers also discussed financial cooperation between their markets.
BofA names Winnie Chen as head of APAC global payments solutions
Chen will begin her duties in September 2024.
MUFG invests $393m in PH superapp GCash’s parent company
Globe Fintech Innovations operates GCash and Fuse Lending.
Payments platform PingPong obtains PJP license in Indonesia
PingPong eyes expanding into the country’s $320b export market.
APAC boasts highest digital wallet spending in the world
China, Japan, and Singapore are frontrunners in digital wallet adoption.
Philippine central bank achieves digital retail payments target
As of 2023, 52.8% of monthly retail payments are made digitally.
Philippine central bank rolls out Intraday Settlement Facility
The ISF is designed to support a paperless process.
KPay merchants can now accept payments from HSBC’s PayMe app
Over 33,000 merchants in KPay’s Hong Kong network can now accept PayMe payments.
Over 600,000 payment cards’ info stolen
Over 99% of stolen data include names, computer files, amongst others.
China’s XTransfer gains in-principle approval for Singapore MPI license
XTransfer plans to launch e-business wallet services in the Lion City.
Philippine remittances up 3.7% to $2.88b in May
Cumulative personal remittances rose by 3% during the month.
Indonesia and South Korea to enhance cross-border payments
The central banks expect that it will promote digital economy and benefit the tourism sector.
Bangkok Bank launches scan-to-pay shortcut
Over 68 million transactions were made using this function in May 2024.
BNP Paribas, Ant Int’l ink MOU to enhance cross-border payments
The MOU includes the further development of Ant’s Whale platform.
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