Tazapay has raised a Series B extension led by Circle Ventures, taking its total funding for the round to US$36 million. New investors in the extension include CMT Digital and Coinbase Ventures. Circle Ventures, Peak XV Partners, GMO Venture Partners, and January Capital also participated in the extension. Existing backers of Tazapay include Ripple, Norinchukin Capital, ARC180, and RTP Global. The fresh funding will support licensing expansion, commercial growth across Asia, Latin America, the Middle East, and the Americas, as well as the development of infrastructure for AI-driven payment use cases. Kanupriya Sharda Kanupriya Sharda, Chief Business Officer at Tazapay, said, “The demand we’re seeing from enterprises and fintechs across Asia, LATAM, and the Middle East is unmistakable; businesses want to move money faster, cheaper, and with full regulatory confidence. Tazapay’s infrastructure was built precisely for this moment. With Circle Ventures’ backing and the addition of CMT Digital and Coinbase Ventures, we now have the fuel to scale our go-to-market across the corridors where this matters most.” Tazapay provides cross-border payment infrastructure for businesses in emerging markets. Its platform supports faster and more capital-efficient settlement than traditional banking rails. The firm now serves more than 1,000 enterprises and fintechs across 30 countries and has doubled revenue for three consecutive years. Tazapay currently holds licences and registrations in Singapore, Canada, Australia, and the United States. It also has active licence applications underway in the UAE, the European Union, and Hong Kong. Brian Schultz Brian Schultz, Vice President at Circle Ventures, said, “Stablecoin adoption in cross-border commerce depends on regulated, operationally reliable infrastructure. Tazapay has built that capability across key emerging markets. Their licensing footprint and local market integration address an essential requirement for enterprise stablecoin-to-fiat settlement.”     Featured image: (From left) Aayush Singhania (CPO), Kanupriya Sharda (CBO), and Rahul Shinghal (CEO). The post Tazapay Raises US$36 Million in Series B Extension Led by Circle Ventures appeared first on Fintech Singapore.

Visa will join the Canton Network as a Super Validator, becoming the first payments firm to take on the role. The company said it will be one of 40 Super Validators on the blockchain network, which is built for regulated finance and designed to keep sensitive data private. Visa said it will help support operations on Canton Network as banks and financial institutions explore onchain payment flows, including stablecoin payments, settlement and treasury use cases. The move addresses a key hurdle for financial institutions using blockchain. While transparency is one of blockchain’s core features, it can also raise privacy concerns for institutions operating under strict compliance and risk rules. Rubail Birwadker Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships at Visa, said, “Many banks see the lack of privacy as a dealbreaker for moving meaningful activity onchain. By operating as a Super Validator on Canton Network, we’re bringing Visa-grade trust, governance and operational rigor that define Visa’s global network to privacy‑preserving blockchain infrastructure, so regulated FIs can bring payments onchain without having to rethink how they operate.” Canton Network has mainly been used in capital markets, including for the issuance and trading of tokenised assets. With Visa joining, the network is looking to expand further into payments and connect those use cases more directly with its broader financial ecosystem. The move builds on Visa’s broader stablecoin push, which includes settlement, card-linked programmes and advisory work for financial institutions and fintechs.     Featured image: Edited by Fintech News Singapore, based on image by Visa The post Visa Joins Canton Network to Support Onchain Payment Flows appeared first on Fintech Singapore.

Trip.com is working with Checkout.com to improve payments for travelers booking across its global platform. The partnership will see Trip.com roll out digital card payment services through Checkout.com in markets including the UK, Japan and Saudi Arabia, with further expansion planned in North America, Europe, Australia and New Zealand. Trip.com offers hotel bookings, flights, trains, car rentals and attractions, and operates in 24 languages across 39 countries and regions. The two companies are also exploring additional local payment methods beyond online card payments, including e-wallets and bank transfers, to support customers in different markets. Trip.com has adopted Checkout.com’s standalone 3D Secure authentication service and is also exploring tools for card storage, identity verification and issuing as it expands its payments setup. Brian Sze Brian Sze, President of Checkout.com Asia Pacific, said, “As one of the fastest-growing travel platforms globally, Trip.com is at the forefront of digital travel, and we’re proud to support its global expansion with the payment infrastructure needed to thrive in today’s digital economy. Our collaboration goes beyond processing transactions – it’s about co-creating a payment strategy that drives performance, reduces friction, and supports the growth of the tourism industry through digital innovation.” Wang Zhe Wang Zhe, Vice President of Trip.com Group, said, “ Checkout.com’s global acquiring capabilities and modular technology give us the flexibility to tailor our payment strategy by market – improving success rates, reducing costs, and ultimately delivering a better experience for our customers. This partnership strengthens our ability to innovate at speed and scale as we connect travelers with the world around them.”     Featured image: Edited by Fintech News Singapore, based on image by Wavebreak Media via Freepik The post Trip.com Taps Checkout.com to Ease Travel Payments appeared first on Fintech Singapore.

Airwallex has appointed former New Zealand Prime Minister and Finance Minister Sir Bill English as Chair of its New Zealand board. Sir Bill joins as an independent director, bringing extensive experience in public finance, economic policy and international trade. His appointment comes as global payments and financial services grow in importance for New Zealand’s export-led economy, and as more businesses adopt digital platforms to operate internationally. Airwallex provides financial infrastructure to a range of high-growth New Zealand companies, including Halter, Partly and Tracksuit. It also supports international businesses operating in New Zealand, such as Afterpay and Bolt. Since entering New Zealand in 2023, nearly 20% of the country’s digital and tech sector relies on the platform. Airwallex has enabled over 1,000 Kiwi startups and modern businesses to operate internationally. The platform now facilitates approximately NZ$2.4 billion in annual payment flows, representing 240% year-on-year growth. It allows businesses to open local bank accounts in over 20 countries. Companies can also manage foreign currencies, pay suppliers and employees abroad, and collect revenue in 70 markets worldwide. Airwallex is also embedding AI into payments, treasury and spend management, enabling businesses to automate routine operations, optimise cash flow decisions and gain real-time insights into their global performance. Sir Bill said he was drawn to Airwallex’s role in supporting New Zealand’s high-growth exporting and technology firms. Sir Bill English “I’m looking forward to supporting a business that is helping New Zealand companies participate more effectively in the global economy, and contributing to the long-term direction of Airwallex in New Zealand as it continues to grow,” he said.     Featured image credit: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik This article first appeared on Fintech News Australia The post Former New Zealand Prime Minister Sir Bill English Joins Airwallex as Board Chair appeared first on Fintech Singapore.

DV8 Public Company plans to fully acquire Rakkar Digital and inject up to THB100 million (about US$3.05 million) into the Thai digital asset custody provider. The listed company has signed a share sale and purchase agreement to buy Rakkar’s ordinary shares from its existing shareholders, according to a filing with the Stock Exchange of Thailand. The deal remains subject to regulatory approvals and other conditions under the agreement. Rakkar is a digital asset custodial wallet service provider authorised by Thailand’s Minister of Finance under the supervision of the Securities and Exchange Commission. The firm was founded by Arthit Sriumporn, who now serves as EVP for Digital Channels at Siam Commercial Bank. The planned capital injection will support its operations and help it meet regulatory net capital requirements for digital asset business operators. The company said the transaction does not meet the threshold for a material asset acquisition under Thai capital market rules and that Rakkar and its existing shareholders are not connected persons under the relevant connected transaction rules. DV8 added that SEC approval will still be required for it to become a major shareholder in Rakkar. After the deal closes, DV8 will appoint three directors to Rakkar’s board, namely Jason Kin Hoi Fang, Theng Wei Tan and Kittiwut Horthong following SEC’s approval. DV8 will fund the investment through internal working capital.     Featured image: Edited by Fintech News Singapore, based on image by yogiermansyah22 via Freepik The post DV8 to Acquire Rakkar Digital, Plans Up to US$3 Million Capital Injection appeared first on Fintech Singapore.

iPiD has struck two deals in Korea, bringing its payee verification tools to DOZN’s clients and Hana Bank’s cross-border payment operations. DOZN, a Korean digital commerce and payments platform, will resell iPiD Validate to financial institutions, payment service providers and corporates in Korea. The real-time payee verification service allows users to check account details before a payment is made through features such as name matching, account confirmation and pre-payment validation. The partnership comes as Korean payment providers and businesses handle more cross-border transactions and face pressure to reduce fraud, prevent misdirected payments and improve efficiency. Damien Dugauquier “Korea is one of the world’s most dynamic digital economies. Our partnership with DOZN brings trusted, accurate payee verification to a market that is scaling rapidly across borders. Together, we’re helping Korean institutions strengthen trust in every transaction,” said Damien Dugauquier, Co-Founder & CEO of iPiD. Meanwhile, Hana Bank has deployed iPiD Node to support payee verification under the UK’s Confirmation of Payee framework and Europe’s Verification of Payee requirements. Through a single integration, the bank can confirm whether a beneficiary’s name matches the account details before funds are sent across UK and European payment corridors. The setup is intended to reduce payment errors and lower the risk of authorised push payment fraud without adding operational complexity. Hana Bank said the service will support cross-border payments by businesses and individuals, including overseas transfers for expenses such as tuition and rent.     Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik   The post iPiD Expands Korea Footprint Through DOZN and Hana Bank Partnerships appeared first on Fintech Singapore.

DBS and Bank of China (BOC) have announced plans to strengthen their long-standing partnership, focusing on financial innovation to support trade and investment across the region. Key areas of cooperation include fintech development, regional connectivity, cross-border RMB solutions, third-party market expansion, and sustainable finance. The banks will leverage their respective strengths to deepen strategic cooperation in China and regional overseas markets, including Singapore, Indonesia, and Vietnam. Initiatives aim to facilitate cross-border trade, support Chinese companies expanding abroad, and enable global enterprises and long-term investors to access the Chinese market. Tan Su Shan, CEO of DBS Group, said: Tan Su Shan “Economic and trade cooperation between China, Singapore and the region has continuously deepened, demonstrating resilience and structural growth. BOC is a long-term valued partner of DBS. Building on that foundation, this MOU symbolises our renewed commitment to support global growth, drive regional development and create more impactful collaboration.” Ge Haijiao, Chairman of BOC, added: Ge Haijiao “Looking ahead to the 15th Five-Year Plan period, we will continue to explore broader cooperation, enabling the international use of RMB, advancing financial innovation and green finance, and supporting intra-regional collaboration to deliver results for our stakeholders.”       Featured image credit: Edited by Fintech News Singapore, based on image by K8 via Unsplash This article first appeared on Fintech News Hong Kong The post DBS and Bank of China to Deepen Cooperation on RMB, Trade, and Regional Finance appeared first on Fintech Singapore.

Triple-A has joined Circle Payments Network to support stablecoin-based cross-border settlements in local currencies. Operated by Circle Technology Services, the network connects banks, payment service providers, virtual asset providers and enterprises to enable near real-time payments using stablecoins. With the integration, Triple-A joins the network as a Beneficiary Financial Institution. The company said this will support use cases such as remittances, payroll, supplier payments and global treasury management. Eric Barbier Eric Barbier, CEO of Triple-A, said, “Through Circle Payments Network, we enable last-mile settlement in USDC on the backend and deliver in local currency through domestic payment systems. This allows businesses to benefit from stablecoin infrastructure without needing to directly handle digital assets.” Irfan Ganchi Irfan Ganchi, SVP of Product Management, Payments at Circle, said, “Triple-A’s integration with Circle Payments Network expands stablecoin-to-fiat settlement capabilities across major financial markets. As a Beneficiary Financial Institution on CPN, Triple-A supports local currency payouts through established domestic rails, helping institutions streamline cross-border payment operations.”     Featured image: Edited by Fintech News Singapore, based on image by Triple-A   The post Triple-A Taps Circle for Cross-Border Stablecoin Settlement appeared first on Fintech Singapore.

Discussions about the future of banking often revolve around digital channels, cloud migration and mobile apps. At Mobile World Congress 2026 in Barcelona, Huawei placed the spotlight on what comes next. During its Digital Finance session, the company gathered financial institutions and technology partners to discuss how artificial intelligence is beginning to reshape the foundations of modern banking. The event carried the theme “Powering Resilient Intelligence, Co-creating Finance Future” and served as the backdrop for Huawei to introduce upgrades to its Banking AI and Foundation Model Solutions aimed at supporting the next phase of industry transformation. Attention quickly turned to the keynote delivered by Alvin Feng, President of International Financial Business at Huawei’s Digital Finance division. His presentation explored the growing role of AI in banking operations and why many financial institutions are now rethinking how technology fits into their long-term strategy. According to Alvin, the industry has spent the past two decades focused on digital optimisation. Online banking and mobile services changed how customers interact with financial institutions while data platforms helped banks improve operational efficiency. Artificial intelligence now opens the door to a deeper transformation, one that is beginning to influence how banks operate at every level. “AI is becoming the defining force reshaping the global financial industry,” Alvin said during his speech, noting that intelligence is starting to influence everything from customer engagement to risk management and internal decision making. Banking Begins Another Technology Transition Banks have moved through several waves of technological change. Early systems focused on automating back office processes and digitising records. Internet banking expanded customer access. Mobile technology later made financial services available almost anywhere. Another transition is beginning to take shape. Growing adoption of artificial intelligence is pushing banks to reconsider how services are delivered and how internal workflows operate. Customer interaction already offers a clear example. Instead of navigating menus and structured forms, users increasingly interact through conversational interfaces where systems interpret requests expressed in everyday language. Personalisation also begins to operate at a different scale. In the past, tailored financial advice often remained limited to high value customers. AI systems now analyse patterns across large datasets which allows banks to deliver personalised insights and recommendations to far wider segments of their customer base. Inside financial institutions, work patterns are also changing. Many teams already rely on automated tools for data analysis and reporting. AI agents add another layer by assisting staff in tasks such as reviewing applications, analysing documents or identifying unusual transaction activity. Alvin described the shift as one that extends across several dimensions of banking operations including customer engagement, decision making processes and the technology architecture supporting financial services. As he put it: “The transition from traditional banks to AI-driven banks brings profound changes in customer interactions, human-machine collaboration, decision-making approaches, system architecture, and customer experience.” Linking Business Strategy With Technology Execution A recurring theme throughout the session centred on how technology is gradually moving closer to the heart of business strategy. For a long time, banks viewed technology primarily as infrastructure that enabled services or reduced operational costs. Increasing reliance on artificial intelligence has started to change that perspective, prompting a reassessment of how technology contributes to growth and competitiveness. Alvin explained that many financial institutions now recognise the need for a clearer connection between business goals and technology deployment. He said this while pointing to a gap that many institutions are still working to close. Building that link requires more than adding isolated AI projects. Drawing on its work with global banks, Huawei introduced a framework known as the Intelligent Finance Value Implementer. The model is intended to help financial institutions identify meaningful AI scenarios, design supporting enterprise architecture and deploy intelligent systems in ways that align with long term business priorities. Selecting the right use cases plays a central role in that process. Projects tied to customer experience, risk control and operational efficiency often deliver the most immediate impact. Once those foundations are in place, institutions can expand AI capabilities across additional services and departments. Underpinning this shift is a broader change in mindset. “Technology is no longer a support function. It is now a value center at the heart of the business,” Alvin mentioned. Where Banks Are Testing AI Todays Several real world examples shared during the event illustrated how these ideas are already being tested in banking environments. Document processing for credit card applications offers one illustration. Staff members traditionally review customer documents manually, a process that can take around twenty minutes per application. AI assisted systems now perform the initial review in roughly twenty seconds while maintaining optical character recognition accuracy above 95 percent. Conversational services provide another glimpse into how banking experiences may evolve. Natural language interfaces combined with specialised AI agents allow customers to interact with digital assistants that guide them through tasks such as checking balances, making deposits or exploring investment options. Over time, these systems build a more detailed understanding of user behaviour by analysing patterns in transactions and previous interactions. The result is a service experience that adapts to individual customers rather than offering the same responses to everyone. Small and medium enterprise lending represents another area where AI tools are beginning to appear. Loan applications in this segment often require coordination between multiple teams. Some banks are experimenting with systems that simulate these roles through separate AI agents that support relationship managers, operations teams and risk analysts during the evaluation process. Human oversight remains essential, yet intelligent tools help reduce the time required to gather information and prepare recommendations. Bringing these elements together requires more than isolated tools. As the President of Huawei Digital Finance International noted, the key to AI banking lies in using systems engineering to unify AI infrastructure with open ecosystems, reengineering banking processes through human and artificial intelligence collaboration. Preparing Banking Systems for AI Workloads Applications such as these depend on a strong technical foundation. Financial institutions operate under strict requirements for reliability, security and performance. Infrastructure must therefore support demanding AI workloads without compromising stability. Huawei used the Digital Finance session to introduce several upgrades designed for that purpose. Among the technologies highlighted were the SuperPoD computing platform, an AI data platform and the Xinghe AI network architecture. Together these systems aim to provide the computing capacity and connectivity required to support advanced financial applications powered by artificial intelligence. Engineering improvements were also discussed. Huawei reported that new optimisation techniques have shortened AI agent development cycles from months to weeks while improving prompt accuracy and reducing end to end processing latency. Such changes matter for large banks that must integrate new technologies with long established core systems. Scaling AI Innovation Through Industry Partnerships No single technology provider can address the complexity of financial services on its own. Huawei therefore emphasised the importance of collaboration through its RongHai partner program. The initiative brings together technology vendors, consulting firms and system integrators working on financial solutions across different markets. More than 150 solution partners now participate alongside over 11,000 consulting, sales and service partners worldwide. Joint development through this network allows banks to deploy solutions tailored to specific regulatory environments while benefiting from shared expertise across the ecosystem. Banks Face the Next Stage of Digital Change Huawei’s digital finance business now supports thousands of financial institutions across more than eighty countries. Over the years, the company has worked with banks on projects ranging from infrastructure modernisation to large scale data platforms. Conversations at the MWC session suggested that the industry may be approaching another turning point. Artificial intelligence continues to expand into areas that were once handled entirely by human teams. Institutions experimenting with these tools are beginning to uncover new ways of serving customers, managing risk and improving operational efficiency. Alvin closed his thoughts with a simple observation about what lies ahead for the sector. Featured image: Edited by Fintech News Malaysia based on an image by Austler via Freepik The post Alvin Feng Shares Huawei’s Vision for AI-Driven Banking at MWC 2026 appeared first on Fintech Singapore.

FOMO Pay is launching a new soundbox in Singapore that allows merchants to accept cards, PayNow, QR payments, e-wallets and stablecoins through one terminal. The FOMO AI Soundbox also provides real-time audio confirmation for each transaction and is designed to reduce the need for merchants to manage separate devices or integrations for different payment options. The Singapore-headquartered payment firm said the launch is part of a broader push to support both traditional payment rails and emerging on-chain payment methods in everyday commerce. FOMO Pay is also developing an AI-powered merchant intelligence layer linked to its merchant portal, which is intended to help merchants access insights from their transaction data more easily. The device includes a built-in microphone that could support future AI features, including tools that let merchants query business data in real time through the terminal. These planned features are aimed especially at small and mid-sized businesses that may not have the time or resources to analyse transaction data on their own. Louis Liu Louis Liu, Founder and CEO of FOMO Pay, said, “AI agents are increasingly becoming active participants in commerce, capable of researching options, making decisions, and completing purchases on behalf of the people they serve. This shift will change consumer behaviour more profoundly than anything we have seen since the advent of mobile payments, and the infrastructure that powers those transactions must evolve with them. At FOMO Pay, we are building the infrastructure that makes this possible, payment rails that are not just fast and connected, but intelligent enough to support a world where AI agents, businesses and consumers move as one.”     Featured image: Edited by Fintech News Singapore, based on image by FOMO Pay via YouTube The post FOMO Pay Launches Merchant Soundbox for Cards, PayNow and Stablecoins appeared first on Fintech Singapore.

Singlife has appointed Leo Mun Wai as an Independent Non-Executive Director to the boards of Singapore Life Holdings and Singapore Life. He will also serve on the company’s Risk and Audit Committees. Mun Wai has more than 30 years of experience in the financial sector, including over two decades in senior regulatory roles and about a decade in board positions. Before moving into board roles, he held senior positions at the Monetary Authority of Singapore and retired as Assistant Managing Director, where he was responsible for the regulation and supervision of Singapore’s capital markets. He also served as Executive Director of Banking Supervision, overseeing foreign banks operating in Singapore. His public service roles included serving as a founding board member of the Casino Regulatory Authority and as a member of the Securities Industry Council. Mun Wai has also served on the boards of Great Eastern Life Assurance Singapore and Great Eastern General Insurance. He currently sits on the board of CapitaLand Integrated Commercial Trust, where he is a member of its Risk and Audit Committees. Ray Ferguson Ray Ferguson, Board Chairman of Singlife, said, “His extensive experience in regulatory oversight and governance, coupled with his expertise in market conduct and digital transformation, will further strengthen the skillset of our board. His insights will be valuable as we continue delivering innovative financial solutions and building long-term trust with our customers.”     Featured image: Edited by Fintech News Singapore, based on image by topntp26 via Freepik   The post Singlife Appoints Former MAS Official Leo Mun Wai to Board appeared first on Fintech Singapore.

India and Bhutan are set to introduce a cross-border remittance service through their postal networks under the planned UPU-UPI initiative. UPI, or Unified Payments Interface, is India’s real-time payments system that allows money to be sent and received instantly. The service will link the Universal Postal Union’s PosTransfer system with UPI to support remittances between the two countries. The initiative was one of the key highlights of a visit by India’s Secretary of Posts to Bhutan during which both sides also signed a memorandum of understanding on postal cooperation. The agreement sets out a broader framework for collaboration between India Post and Bhutan Post in areas including postal operations, technology, logistics, training and knowledge exchange. Both sides said the remittance link is expected to improve financial connectivity and widen access to digital remittance services in both countries. India also said it is ready to share its experience in postal financial services, including how postal networks can support financial inclusion and expand access to savings and other basic financial services.     Featured image credit: Government of India The post India and Bhutan to Launch UPI-Linked Postal Remittance Service appeared first on Fintech Singapore.

Ripple has joined the Monetary Authority of Singapore’s BLOOM initiative and teamed up with Unloq to pilot a programmable trade settlement use case. The initiative, led by MAS, is aimed at extending settlement capabilities using tokenised bank liabilities and regulated stablecoins. The pilot is intended to showcase a model for Singapore’s future development of interoperable settlement infrastructure for cross-border trade. The project will use Unloq’s SC+ trade finance infrastructure, which combines trade obligations, settlement conditions and financing workflows in a single execution layer. It will also use Ripple’s infrastructure, the XRP Ledger and Ripple USD, or RLUSD. The pilot will test how digital settlement assets can be used to address inefficiencies in cross-border trade settlement. Under the model, payments are released only when pre-agreed commercial conditions are met, such as shipment verification. The companies said this could improve risk transparency and support access to financing for SMEs. Fiona Murray Fiona Murray, Managing Director, Asia Pacific at Ripple said, “Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive. Ripple is incredibly excited to be part of BLOOM, an initiative that perfectly aligns with our commitment to compliant, real-world utility for blockchain technology.” Letitia Chau Letitia Chau, President and Chief Risk Officer of Unloq said, “BLOOM represents an important step toward modernising trade finance infrastructure in a controlled and regulated environment. Through SC+, we are demonstrating how digital settlement rails can be integrated into existing trade and financing workflows without disrupting commercial relationships. Collaboration with MAS and Ripple enables us to explore scalable, interoperable models for cross-border trade.”     Featured image: Edited by Fintech News Singapore, based on image by MAS The post Ripple Joins MAS’ BLOOM Initiative for Trade Settlement Pilot appeared first on Fintech Singapore.

Grab will buy back up to US$400 million of its shares over the next four months under its existing repurchase plan. The repurchases will be carried out through two agreements. They include a US$250 million accelerated share repurchase deal with JPMorgan Chase Bank and a contingent forward purchase agreement with Morgan Stanley worth up to US$150 million. Both transactions fall under the US$500 million share repurchase programme approved by Grab’s board in February 2026. Once completed, Grab will have used US$400 million of that amount, leaving US$100 million for further buybacks. Peter Oey “We view the current share price dislocation as a clear opportunity to enhance shareholder value. Our trajectory toward our 2028 $1.5 billion Adjusted EBITDA and 80% Adjusted Free Cash Flow conversion targets also underscores the operational leverage we are now realizing. By leveraging our robust balance sheet and net cash liquidity position, we continue to maintain a disciplined approach to capital allocation by investing in our rapidly scaling ecosystem while being committed to returning excess cash to investors.” said Peter Oey, Chief Financial Officer of Grab. Under the accelerated share repurchase agreement, Grab will pay US$250 million to JPMorgan for an initial delivery of about 54.9 million Class A ordinary shares. This represents around 80 percent of the total shares that may be repurchased based on the last closing price of the shares. The final number of shares repurchased under the agreement will be based on the average volume-weighted average price of Grab’s Class A ordinary shares on specified dates during the term of the transaction. That figure will be subject to a customary discount and other adjustments under the agreement. Grab expects the transaction to be completed by the second quarter of 2026. Under the contingent forward purchase agreement, the number of shares Grab may acquire will depend on the company’s share price performance over the term of the deal, subject to the agreement’s pricing terms and thresholds. The total amount payable under the agreement will not exceed US$150 million, with settlement scheduled for July 2026. Grab said both transactions will be funded from existing cash reserves. As of 31 December 2025, the company had gross cash liquidity of US$7.4 billion and net cash liquidity of US$5.4 billion. The remaining US$100 million under the repurchase authorisation gives it flexibility for further buybacks.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Grab to Buy Back Up to US$400 Million in Shares Over the Next Four Months appeared first on Fintech Singapore.

For decades, accepting card payments meant investing in dedicated hardware, like a separate terminal for every checkout point. Each tech evolution, from early card terminals to modern POS systems, often came with its own set of requirements and processes. Today, the landscape of in-person commerce is spinning on its axis. Businesses are moving away from traditional and stationary checkout counters, driven by the need for greater agility and the flexibility to meet evolving customer expectations. Mobile POS solutions are a strategic response to this, bringing payments closer to the customer, shortening the sales cycle, and delivering a faster and seamless checkout experience. Where Digital Expectations For Payments Meet Reality Take a step back and think about the Asia Pacific region as an example. Digital wallet adoption here is among the highest globally. Consumers increasingly expect transactions to be as instant and mobile as their smartphones. Recent Adyen research confirms this shift: “62% of shoppers already tap their phones to pay, making the fixed counter a relic of the past. By turning everyday devices into terminals, businesses can meet the need for speed and capture that high-value in-store traffic without the barrier of a queue.” This raises a critical question for businesses operating in markets like Hong Kong SAR China and Singapore. Sure, payment terminals work. But can they work smarter, with faster setups, quicker checkouts, and one less device to manage? Every second at checkout matters. Meeting these expectations requires payment solutions that remove additional hardware dependencies, reduce operational overhead and complexity, yet deliver frictionless checkout experiences that grow with your business. Sounds like a tall order? Well, the answer lies in Tap to Pay On iPhone (TTPOI) with Adyen. From Hardware to Software-First Flexibility Tap to Pay on iPhone represents a shift from device-dependent payments to a software-first, infrastructure-light approach. With Tap to Pay on iPhone and Adyen, new devices can be onboarded quickly, skipping traditional POS systems that tend to require procurement, installation, and maintenance. This agility allows businesses to respond swiftly to demand surges or launch temporary locations without complex hardware deployments. Simply equipping staff with iPhones transforms them into mobile points of sale, ready to serve customers anywhere, even at their own table. This flexibility aligns perfectly with the broader payments landscape across the Asia Pacific, where diverse payment preferences coexist. From QR codes in Southeast Asia to card-based systems in Hong Kong SAR China and Singapore, merchants need adaptable payment solutions. Tap to Pay on iPhone with Adyen provides a unified platform capable of accepting multiple payment methods, thereby enabling businesses to accommodate local consumer behaviour without adding operational complexity. The Checkout Experience That Counts While digital wallets and invisible payments dominate headlines, the physical moment of payment remains profoundly important. Those final seconds often define how customers remember their entire shopping experience, regardless of whether they’re using NFC-enabled cards, digital wallets or wearables to tap and pay. Friction, like waiting in line, juggling devices, or managing clunky hardware, erodes loyalty and reduces conversion. Mobile-first payments put checkout in the hands of staff on the sales floor, at tables, or in pop-up locations. Luxury brands like Prada and global retailers like Lululemon have demonstrated how mobile payments reduce queues, improve conversion, and let staff focus on customers rather than transactions. Lululemon’s deployment of Tap to Pay on iPhone with Adyen across Australia, the United Kingdom, France, Germany, and New Zealand exemplifies this transformation. Adyen’s unified platform enables consistent experiences for both customers and operational teams. By creating a single integration point for key markets, Lululemon freed up resources to focus on strategic initiatives while ensuring guests experience premium service even during peak periods. As Zoé Denom, Global Payment Operations Manager at Lululemon, notes: “The flexibility has been huge. The cost savings has immediate impact and also allow us to rethink future store designs.” This operational flexibility extends beyond immediate cost benefits. By removing the constraints of fixed checkout counters, retailers can focus on creating more open layouts, engaging spaces where staff can interact with customers throughout their journey rather than being tethered to traditional POS stations. The result is a retail environment that feels less transactional and more experiential, precisely what today’s consumers expect from brands. Enterprise-Grade Security and Compliance When a customer taps their iPhone, Apple Watch or other digital wallet at the merchant’s iPhone, privacy protection happens instantly and invisibly as the purchase is completed. Tap to Pay on iPhone uses the same technology that makes Apple Pay secure. Transactions are encrypted and processed through the Secure Element in real-time. Apple never sees what’s being purchased or who’s buying it. Card numbers and transaction data don’t touch the device or Apple’s servers. Source: Adyen Security matters because trust is earned through effort, yet lost in seconds. With PCI CPOC compliance built in and software-based risk management responding to fraud patterns in real-time across all locations, businesses can maintain the same level of trust as traditional POS systems, minus the vulnerability of physical hardware that can be compromised, stolen, or tampered with. Tap to Pay on iPhone does more than simplify checkout by removing the need for more hardware. It lays a strategic foundation for modern retail by simplifying operations, integrating seamlessly with existing systems, meeting customers where they are, and enabling businesses to scale rapidly, reduce costs, and enhance the overall shopper experience. Streamline Payments and Scale with Tap to Pay on iPhone Tap to Pay on iPhone, powered by Adyen, enables your business to accept all contactless payments, from credit and debit cards to Apple Pay and digital wallets, using just an iPhone. No additional terminals, complex installations, or hardware constraints. Discover how Tap to Pay on iPhone with Adyen can transform your in-person payment strategy and help your business stay agile, secure, and customer-focused. Featured image based on an image by Adyen The post Transform Any iPhone Into a Contactless Payment Device With Adyen appeared first on Fintech Singapore.

Revolut Singapore remained net profitable for a second straight year in 2025 as customers used the app more for everyday spending and transfers. The update came as parent Revolut reported record 2025 group revenue of US$6.0 billion, up 46 percent year on year, and profit before tax of US$2.3 billion, up 57 percent. In Singapore, subscription revenue rose 75 percent, card payment revenue increased by close to 20 percent and foreign exchange fee and spread revenue grew 6 percent. Average monthly transactions rose by nearly 20 percent, while retail e-wallet balances increased by more than 25 percent and business account balances grew more than sixfold. Revolut Singapore’s retail customer base expanded by more than 20 percent in 2025, while its business customer base grew fivefold. Young adults aged 18 to 34 now make up half of its retail customer base, and expatriates accounted for close to 30 percent of customers, up from 25 percent a year earlier. Revolut Deepens Everyday Use in Singapore Domestic transaction volumes rose by more than 30 percent year on year, while the number of domestic transactions increased by about 25 percent. Domestic transactions now make up nearly half of Revolut Singapore’s total activity. Peer-to-peer payment volumes within the app rose by close to 40 percent, while both the number and volume of virtual card payments increased by more than 55 percent. Product Push and Hiring Expansion in Singapore During the year, Revolut Singapore expanded its retail and business offerings. New additions included a robo-advisor, Flexible Cash Funds for businesses and merchant acquiring tools spanning account-to-account, online and in-person payments. It also integrated with Alipay to support transfers to China. Revolut Singapore nearly doubled its workforce from 2024 to 2025, with headcount rising by more than 95 percent. The company is targeting more than 300 employees locally within the next three years. Raymond Ng Raymond Ng, Chief Executive Officer, Revolut Singapore & South East Asia, said: “We’re seeing a clear shift from Revolut being used primarily for travel to becoming an everyday financial app, with strong growth in domestic spending, peer-to-peer payments, and increasing engagement with wealth products and our Kids & Teen offering. We remain focused on expanding our offering to meet the evolving needs of our customers while continuing to invest in local talent to support our long-term growth.”     Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik   The post Revolut Singapore Stays Profitable in 2025 as Subscription Revenue Jumps 75% appeared first on Fintech Singapore.

MariBank has launched a new investment product that gives customers access to Singapore equities from S$1, with no transaction fees. The product, called Mari Invest Singapore Equity, distributes the Amova Singapore Dividend Equity Fund SGD Class and is being rolled out first on an invite-only basis. It will be made available to the public through the MariBank app in early April 2026. Natalia Goh “This reflects our commitment to lowering barriers and helping customers grow their wealth confidently. Having invested through various economic and liquidity cycles over more than 25 years, Amova Asset Management has consistently demonstrated high discipline and delivered strong results, making them a natural partner for us.” said Natalia Goh, CEO of MariBank. The fund is managed by Amova Asset Management Asia Limited, formerly Nikko Asset Management Asia Limited. It invests mainly in equities listed on the Singapore Exchange, including stocks outside the Straits Times Index, as well as selected overseas-listed equities with similar characteristics. The fund focuses on companies with sustainable dividend yields and dividend growth potential, alongside undervalued firms showing positive fundamental change. It targets a monthly distribution of between 5 percent and 7 percent per annum of NAV per unit, based on its stated distribution policy. MariBank said payouts are not guaranteed and may be made from income and/or capital, and any payout is expected to result in an immediate reduction in NAV per unit. Amova is one of six appointed managers under the Monetary Authority of Singapore’s S$6.5 billion Equity Market Development Programme, which was first announced in May 2025. Eleanor Seet “Lowering investment barriers is integral to building a fundamentally deeper and more inclusive equities market. As one of the appointed managers under MAS’s Equity Market Development Programme, we see a strategic role in partnerships like our collaboration with MariBank, which reflects a shared commitment to progressive, investor-first solutions,” said Eleanor Seet, President and Head of Asia ex-Japan of Amova Asset Management Asia Limited. This launch adds to MariBank’s existing investment lineup, which includes Mari Invest Gold, Mari Invest Income and Mari Invest SavePlus. The bank said about one in three of its customers has invested in at least one of its investment products.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post MariBank Rolls Out Singapore Equities Investment Product from S$1 appeared first on Fintech Singapore.

Former OCBC CEO Helen Wong’s 2025 pay fell 6.3 percent to S$12 million as the bank’s earnings eased from the year before, according to The Business Times. Wong retired as Group CEO at the end of 2025 with Tan Teck Long taking over as Group CEO from 1 January 2026. Her pay came in below the S$12.8 million she received in FY2024 as OCBC’s net profit fell to S$7.42 billion from S$7.59 billion a year earlier. Her remuneration package included a S$1.2 million base salary, S$6.3 million in cash bonus, about S$4.2 million in deferred shares, and S$323,000 in other benefits. OCBC still generated record income of S$14.6 billion in FY2025, up 1 percent from a year earlier, despite the drop in net profit. Higher fee income helped offset margin pressure, with non-interest income rising 16 percent to S$5.46 billion and wealth management fees up 33 percent. The bank has proposed a final ordinary dividend of S$0.42 per share and a special dividend of S$0.16 per share. With the interim dividend of S$0.41, total dividends for FY2025 reached S$0.99 per share, representing a 60 percent payout ratio. OCBC also said it remains on track to complete its S$2.5 billion capital return plan, comprising special dividends and share buybacks, by the end of FY2026. Wong’s FY2025 pay was in line with UOB CEO Wee Ee Cheong’s S$12 million package, while DBS CEO Tan Su Shan received S$9.6 million in her first year as CEO.     Featured image: Edited by Fintech News Singapore, based on image by OCBC The post Helen Wong Took Home S$12 Million in Her Final Year as OCBC CEO appeared first on Fintech Singapore.

Singapore police have arrested two more Malaysians over their suspected roles in a government official impersonation scam, bringing the total for similar cases this month to eight. The two men, aged 30 and 20, will be charged on 22 March and 23 March, respectively. Police said the case surfaced on 20 March after a 62-year-old woman reported receiving calls from people claiming to be from M1 and the Monetary Authority of Singapore over an overdue S$350 bill that could not be deducted from her bank account. The conversation later moved to WhatsApp, where she was told purchases had been made using her accounts. After she said she did not recognise the transactions, she was referred to a man posing as an MAS investigation officer. He allegedly told her she was linked to a money laundering case and told her to declare her valuables. After learning she had 8.6kg of gold, he instructed her to hand it over for inspection to prove her innocence. The woman was then told to place the gold in a bag and head to the vicinity of the MAS building, where a man approached her car, said a codeword and took the bag. She later checked with a security guard, who told her the man was not affiliated with MAS, before calling the police. Two Arrested in Follow-Up Operation Police later identified the two suspects, who were detained in Singapore on 21 March. The 30-year-old was held while trying to leave the country, while the 20-year-old was arrested near Woodlands. Preliminary investigations found the pair had allegedly been directed by people believed to be part of a transnational scam syndicate to collect valuables from victims and pass them to others. They will be charged under Section 51 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 for assisting another to retain benefits from criminal conduct. The offence carries up to 10 years’ jail, a fine of up to S$500,000, or both. Police said they continue to observe an increasing trend of Malaysian nationals travelling to Singapore to help scam syndicates collect valuables from victims. The arrests follow a similar case announced on 19 March that brought the total then to six Malaysians arrested and charged in similar government official impersonation scam cases within two weeks.     Featured image: Edited by Fintech News Singapore, based on image by tehcheesiong via Freepik   The post Singapore Arrests Two More Malaysians Over Govt Official Impersonation Scam appeared first on Fintech Singapore.

FIs (financial institutions) are typically considered to be accountable for the behaviour of AI that they use, irrespective of whether it was built or procured. -Mindforge AI Risk Management: Operationalisation Handbook Somewhere in an institution’s software stack, there might just be an AI model running on an update they did not approve. Think about the patch to your AI product that was rolled out automatically last quarter. Without you knowing, it may be posing cybersecurity, technology and possibly even reputational risks. Yet the contract with your vendor says nothing specific about it. This challenge is precisely what the MindForge AI Risk Management Operationalisation Handbook was created to address. Published as a collaborative effort by a consortium of 24 primary members and led by the Monetary Authority of Singapore, the handbook is a practical guide for how financial institutions can operationalise AI risk management, including specific risks that arise when vendors update or modify the AI they supply. When third-party vendors update their products, they may add AI features to non-AI products and services that didn’t previously have them, or change AI products or services that the financial institution is already using. This can bring AI into the organisation’s ecosystem without proper oversight and controls in place to manage the risks that come with it. These unvetted AI additions are a way shadow AI creeps into an organisation. The crux of the problem is the fact that contracts signed by financial institutions were written for software that tends to be static, predictable, and tracked through methods like release notes and change logs. AI behaves differently; it updates and evolves after you’ve officially deployed it. Accountability for that behaviour, however, sits firmly with the institution, including in scenarios like hallucinations or the exposure of customer data. Yet many contract clauses for Singapore fintechs and financial institutions have yet to address this reality. There’s no trigger in their agreements to notify when, say, an AI component is added or modified. Source: MAS   According to the handbook, requests for training data disclosures tend to get declined by vendors due to factors like data being commercially sensitive. Meanwhile, most organisations do not have a documented process to decide whether to pursue the matter further or not. Why Existing Vendor Frameworks Fall Short for AI The principle of accountability in financial services has been around for quite a while. Financial institutions have always been responsible for the conduct of their vendors. AI, however, throws a unique wildcard into the mix. It creates a specific version of exposure that existing vendor management frameworks aren’t built to handle. The handbook states, “The use of AI products or services from third-party vendors, service providers, and contractors may introduce new AI-specific risks, especially as FIs shift towards using AI as Saas.” The issue has two roots, and they compound each other. The first is opacity at the point of procurement. When you buy traditional software, you can test it and reasonably expect that what you evaluated is what you deployed. AI products, particularly foundation models accessed as a service, don’t work that way. You often have no visibility into the underlying model and no reliable way to know how vendor updates will affect your specific use cases. The handbook is direct about this: some AI products or services “may not be fully transparent to the FI.” The second problem is that AI’s opacity moves. A model you evaluated six months ago may behave differently today because the vendor retrained it or modified its guardrails. Unless your contract requires notification of material changes, you will not know this has happened until something goes wrong. None of this is bad intent on a vendor’s part, but rather reflects how AI products and services are built and maintained as live systems. The combination of opacity and continuous change means that traditional procurement due diligence is structurally insufficient for AI. Assuming the product remains stable leaves a meaningful and growing gap in your institution’s risk posture. How to Manage AI Risk in Third-Party Vendor Contracts The handbook shares that institutions can consider several factors when disclosures by third-party vendors are deemed incomplete. Indemnification As A Limited Line of Defence If a third-party vendor refuses to share details about how their AI model was trained, they may instead offer a contractual indemnification, a legal promise to cover costs if an Intellectual Property (IP) violation occurs. This can push third parties to take risk more seriously and give institutions a way to recover financial losses if something goes wrong. That said, indemnification only kicks in after the act. It does little to stop problems from happening in the first place. Institutions should also keep in mind that some AI-related harms, like risks to customer relationships or reputation, cannot be fixed with a mere payout. Testing Third-Party AI Before You Buy As part of their procurement process, institutions can test third-party AI products and services against key risk-related performance metrics. This is known as compensatory testing. It helps fill knowledge gaps about how an AI model or system actually behaves by putting it through a range of scenarios and observing where risks may emerge. In short, it can be a practical way to learn what a vendor may not tell you upfront. Getting an Outside Expert to Verify What Third Parties Won’t Show You When a third party is unwilling to share details about how their AI system is controlled or safeguarded, institutions can opt to bring in a trusted external body like an auditor to independently review and verify those elements on the financial institution’s behalf. This external attestation can confirm, for example, that the third party is meeting relevant regulatory requirements or has properly implemented recognised standards. While institutions may not get direct visibility into the third party’s systems, a credible independent sign-off can still provide meaningful assurance. Embedding AI Risk Checks Into Every Procurement Stage Managing third-party AI risk needs to be embedded across the entire lifecycle, from initial procurement through to ongoing use. When evaluating AI products and services, institutions should address any gaps in their entire procurement and risk management processes. Consider looking into information disclosures, legal review, vendor assessments, compensatory testing, and other relevant mitigating factors, including whether the third party’s AI aligns with the institution’s values and principles. Source: MAS Once a product or service is in use, financial institutions should continuously monitor its performance and periodically reassess whether its risks are still being managed effectively. If an AI product ends up being used in ways that go beyond its original scope, institutions should consider revisiting or supplementing the initial evaluation. Building on Existing Cybersecurity and Procurement Frameworks Financial institutions do not need to build their AI risk management approach from scratch. Most already have procurement and third-party risk management practices in place, including cybersecurity assessments, defined accountability structures, and processes for identifying, reviewing, mitigating and accepting risks. These existing frameworks, including legal and cybersecurity reviews, can continue to be applied when assessing AI products and services. Before creating an entirely new AI-specific function, institutions should first ask where their current processes fall short and address those gaps through targeted improvements. The Easy Starting Point The handbook suggests a sequenced approach that begins with identification, building a clear picture of which vendors in your current stack supply AI products or services, including embedded AI in non-AI-primary products. It recommends asking vendors directly to disclose whether a product includes or is connected to AI components, particularly at renewal or renegotiation points. This is a simple question that creates clarity and is an appropriate ask at any stage of a vendor relationship. The second step is standardising disclosure requests. The MindForge consortium has published an AI Card template in the handbook’s appendix. This is a structured disclosure document covering model description, intended use, technical limitations, monitoring capabilities, and training data information, as showcased below: MAS AI Card Template The AI Card Template gives financial institutions a useful starting point for gathering information about AI products and services from their vendors. Institutions are encouraged to tailor it to suit their own needs and the specific context of their third-party relationships. Source: MAS Using a standard template creates consistency and gives vendors a clear brief for what you need, making it more likely you will receive usable responses. The third step is developing a defined decision process for incomplete disclosures. Rather than making case-by-case calls without documented rationale, fintechs should establish a policy that sets out what information they require, what mitigations (indemnification, attestation, testing) they will accept in lieu of direct disclosure, and what the approval pathway looks like for products where disclosure is incomplete. This does not need to be complex. A one-page decision framework, owned by risk and signed off by legal, creates far more defensibility than the current informal approach most fintechs are using. The final step is updating contracts with existing vendors to include AI notification provisions. These may even be notification obligations tied to material changes: new AI features, significant model retraining, changes to data handling practices. This is a clause that most vendors will accept on request, and it provides the early warning system that currently does not exist. The handbook makes one thing very clear: AI changes over time, and vendors are not obligated to tell you every time it does. That means the responsibility falls on the institution to put the right processes and checks in place so that when something shifts, you find out before it becomes a problem. Featured image edited by Fintech News Singapore based on an image by on Freepik The post Singapore’s Financial Institutions Now Have a Playbook for Managing AI Vendor Risk appeared first on Fintech Singapore.