Global expansion is high on the agenda for merchants today, yet the reality is far from simple. Setting up local entities, adapting to fragmented payment systems, and navigating diverse regulations can turn opportunities into frustration. This challenge is especially visible in emerging economies, where growth is fastest but the barriers to entry are steep. Eduardo de Abreu, Vice President of Product at EBANX, explains: Eduardo de Abreu “Based on data from World Data Lab, over the next 10 years, we are going to see almost 700 million people joining the consumer class (people who spend more than US$12 per day) in emerging markets. This is massive in terms of potential growth and addressable markets.” Unlike developed markets, they tend to rely on localised payment rails like mobile wallets and alternative payment methods (APMs). Without integrating these digital payments, even the most ambitious cross-border strategies can stall before they start. This is the reality that EBANX is spotlighting at the APAC Edition of its Payments Summit in Macau, running from 28 to 30 August 2025. Connecting APAC Merchants to the Next Frontier of Payments Now in its third consecutive year in APAC, the EBANX APAC Payments Summit has previously been held in Bangkok, Thailand, in 2024 and Sanya, China, in 2023. The summit itself is in its eighth year, previously taking place in the United States, Spain, Brazil, and Mexico. Choosing Macau as the host city is both strategic and symbolic. As a growing hub for regional collaboration and innovation, Macau reflects EBANX’s deeper commitment to APAC and its merchants, offering an ideal location to unite merchants and partners across the region. This year’s agenda aims to give participants a clear, strategic view into new opportunities for merchants expanding into Latin America, Africa, and more high-growth regions. The summit will spotlight Brazil’s Pix Automático, Latin America’s gaming market growth, the rise of digital wallets and stablecoins in cross-border payments, and Africa’s expanding payment rails. The lineup features a powerhouse mix of voices shaping the future of global payments, including João Del Valle, Co-Founder and CEO of EBANX; Jonathan Haigh, Chief Product Officer at World Data Lab; Jason Maweu Masai, Head of Digital Product at M-PESA; and Eric Barbier, CEO of Triple-A. Emerging Markets at the Center of the Conversation The EBANX APAC Payments Summit will focus on select main themes. Firstly, it will bring forth timely insights on payments innovation and digital commerce, from Brazil’s Pix to Africa’s local schemes and Latin America’s fast-growing gaming economy. The Summit will dive into what makes Latin America one of the most dynamic gaming markets in the world: a mobile-first audience, strong community-driven engagement, and a complex mix of cards, instalments, digital wallets, and even cash payments. Interestingly, many alternative payment methods were never designed with merchant purchases in mind. Yet, their deep integration into daily life has made them a dominant option for online shopping, especially so in countries where access to cards and bank accounts remains limited. Source: Beyond Borders 2025, EBANX Another highlight will be a deep dive into Pix Automático, launched in June 2025 as a major evolution of Brazil’s most-used payment system. Designed for recurring transactions, it offers merchants access to more than 60 million Pix users who do not hold credit cards. Eduardo adds on, “Card penetration is not the same as card acceleration. We do see people with higher access to cards, but the credit component is still limited, like US$50 as a limit. ” Beyond Latin America, the Summit will explore Africa’s payments landscape, highlighting domestic schemes such as Verve in Nigeria. These solutions are driving financial inclusion and e-commerce adoption in some of the continent’s fastest-growing economies. Stablecoins will also take centre stage, with contributions from Triple-A on how it could rewrite the rails of cross-border digital commerce. Tax and regulatory updates in Latin America is another highlight. When asked about the compliance challenges that APAC merchants face when expanding into LATAM and how EBANX helps navigate them, Fernanda De Fino, Director of Global Risk and Compliance at EBANX, shared, Fernanda De Fino “This is what we provide for the best, that is, solving the complexity. In terms of compliance, we have a strong team with deep knowledge in the local market, that could navigate it and facilitate the merchant operation there.” The APAC edition of the summit is indeed a forward-looking forum designed to anticipate what’s next for the industry. It will unlock opportunities in non-obvious markets, showcase breakthrough technologies, and help merchants understand the future of payments across rising economies. Why APAC Matters in EBANX’s Multi-Market Expansion Although EBANX currently processes payments locally in India, the company itself supports around 100 APAC merchants, including for global platforms like AliExpress, Canva, and Weverse. With a single integration, merchants can access 29 countries and leverage more than 200 local payment methods. EBANX handles settlement, compliance, and cross-border processing, allowing companies to focus on market growth. Notably, on 1 August 2025, EBANX received its Major Payment Institution (MPI) license from the Monetary Authority of Singapore. Fernanda elaborated on the milestone, “We have been granted by the MAS, as an MPI (Major Payment Institution). EBANX is the first, as of now, the only Brazilian company that has this license here in Singapore. It represents our commitment to regulatory compliance and the security that we offer to our merchants and also to our clients.” The license builds on EBANX’s recent strategic steps in Asia, such as its partnership with YES BANK and the appointment of a country director to lead its operations in India. Where Merchants Gain the Edge in Global Commerce In an era where cross-border commerce is being reshaped by real-time payments, alternative payment methods, and rising consumer markets, APAC merchants have more competition than ever. In tandem, regions like South Asia, Africa, and Latin America are set to see significant digital commerce growth, driven largely by the adoption of local payment methods. The EBANX APAC Payments Summit offers a rare vantage point into these shifts, combining market intelligence, live case studies, and access to on-the-ground players from across these high-growth economies. When queried about various payment methods across different regions and how to balance innovation with fraud prevention and compliance, Fernanda dives in, “When you know the market, when you know how the payment methods work, when you have a local team that is also a consumer, you can prevent fraud and be compliant with regulations easily. EBANX is ahead of the game since the beginning, and this is our footprint in the region.“ For APAC merchants with global ambitions and the readiness to meet consumers on their own payment terms, this Payments Summit, due to be held at the prestigious Karl Lagerfeld Hotel, is where market intelligence meets market access. It’s where you leave with the strategies and insights that make it happen. Featured image by EBANX on EBANX The post EBANX’s Payments Summit Heads to Macau, to Spotlight Emerging Market Opportunities appeared first on Fintech Singapore.

Indian payments firm Juspay has entered into a partnership with Outpayce from Amadeus to support global travel businesses with more flexible payment options. Under the agreement, Juspay will be integrated into the marketplace of the Outpayce Xchange Payment Platform (XPP), which connects travel companies to more than 300 acquirers and local payment methods worldwide. The integration is expected to help airlines, hotels and other travel providers activate local payment methods through a single connection, cutting down on technical complexity and speeding up market entry. The collaboration also aims to improve checkout experiences by offering customers the ability to pay through preferred local methods while enabling merchants to build tailored payment workflows, including tokenisation in India. Founded in 2012 and headquartered in Bangalore, Juspay processes more than 200 million daily transactions and works with global enterprises and banks. Outpayce, a wholly owned subsidiary of Amadeus, focuses on delivering regulated travel payment services and operates the XPP to simplify transactions for travel businesses worldwide. Sheetal Lalwani “At Juspay, we believe payments should be invisible – simple and seamless for the customers, yet deeply optimized under the hood. Outpayce shares this philosophy, and together, we aim to empower travel companies to offer fast, intuitive, and reliable payment experiences that scale globally while adapting locally.” said Sheetal Lalwani, Co-founder & COO at Juspay. Damian Alonso “We are excited to welcome Juspay into our partner ecosystem. By integrating Juspay’s payments technology platform into XPP, we aim to deliver the best payment journeys for both travelers and travel merchants around the world.” said Damian Alonso, Head of Commercial and Partnerships at Outpayce.     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post Indian Fintech Juspay Partners with Outpayce to Simplify Travel Payments appeared first on Fintech Singapore.

CIMB Singapore has launched CIMB FlexiPay, which it says is the first revenue-based loan of its kind in the market. The new product is designed to help small and medium-sized enterprises (SMEs) better manage cash flow through repayments that adjust to daily revenue. Businesses repay a fixed percentage of their daily deposits, known as a holdback rate. For example, if a company sets a 5 percent holdback and earns S$1,000 in a day, S$50 would be deducted. No repayment is required on days without revenue. CIMB said borrowers will pay a single upfront fee, with no interest, prepayment penalties or late charges. The entire process is fully digital, without the need for physical forms or manual submissions. “With CIMB FlexiPay’s pay-as-you-earn structure, SMEs gain flexibility, transparency and control in managing their financing. This innovation reflects our commitment to rethinking traditional banking and supporting businesses with solutions that truly adapt to their cash flow realities. By removing traditional barriers and offering a seamless digital experience, we aim to help businesses grow with confidence.” said Benjamin Tan, Head of Commercial & Transaction Banking, CIMB Singapore.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik   The post CIMB Singapore Launches Revenue-Based FlexiPay Loan for SMEs appeared first on Fintech Singapore.

Payments firm Payoneer has announced a partnership with Stripe to expand its online checkout services for cross-border small and medium-sized businesses (SMBs) that sell directly to consumers. The rollout will begin in Asia Pacific markets, including China and Hong Kong, before expanding further. Merchants using Payoneer Checkout will be able to accept a wider range of payment options such as Buy Now Pay Later services from Affirm and Klarna, as well as digital wallets like Apple Pay and Google Pay. Since launching three years ago, Payoneer Checkout has scaled from zero to nearly US$1 billion in run-rate annual volume. For the 12 months to June 30, 2025, it generated US$30 million in revenue, more than double the previous year. The partnership aims to expand payment options for SMBs selling direct-to-consumer via their own e-commerce webstores, improve acceptance rates, reduce fraud, and boost customer conversion. Adam Cohen “We are committed to simplifying cross-border online trade for SMBs. This partnership with Stripe is a strategic step in our journey to expand our Checkout offering and deliver a best-in-class user experience at scale. By combining Payoneer’s local market distribution and expertise with Stripe’s exceptional checkout technology, we’re combining the strengths of both companies to deliver unmatched value to our customers.” said Adam Cohen, Chief Growth Officer, Payoneer.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik     The post Payoneer Taps Stripe to Enhance Payment Acceptance for Small Businesses appeared first on Fintech Singapore.

Bank of Singapore has launched the Family Office Catalyst, a new service in Singapore for ultra-high net worth individuals seeking professional wealth management without setting up a dedicated single-family office. The solution offers advantages typically linked to such structures, including access to specialised investment expertise and eligibility for tax exemptions, subject to conditions under Sections 13O and 13U of the Income Tax Act. Under the arrangement, the bank is appointed as fund manager of an investment vehicle with at least US$20 million in assets, managed on either a discretionary or advisory basis. This structure allows clients to benefit from professional management while qualifying for tax incentives, without the administrative costs of running their own office. The launch comes as family offices in Asia Pacific grapple with rising operational expenses and growing demands for technology platforms, challenges highlighted in a 2024 McKinsey report. Clients will also have access to the bank’s wealth planning and trust services, and may later transition to a single-family office structure if they choose. Ultra-high net worth clients, defined as having US$250 million and above in net worth, remain a strategic focus for Bank of Singapore, with assets under management in this segment recording double-digit growth in 2024. Lim Leong Guan Lim Leong Guan, Global Head of Financial Intermediaries, Family Office and Wealth Advisory at Bank of Singapore, said, “Our Family Office Catalyst solution addresses these issues by allowing these individuals to tap into the deep expertise of our portfolio management teams to manage their assets and still qualify for tax incentives, supplemented by the Bank’s comprehensive wealth management ecosystem. We believe this presents a cost-efficient and holistic alternative solution to setting up their own SFOs.”     Featured image: Edited by Fintech News Singapore, based on image by bugphai via Freepik     The post Bank of Singapore Introduces ‘Catalyst’ for Ultra-Rich Wealth Management appeared first on Fintech Singapore.

More shoppers are paying digitally in Singapore’s heartlands, helping merchants lift their Saturday earnings by 50% since DBS brought back its PayLah! SG60 cashback campaign last month. The increase outpaces the 40% boost seen in a similar programme last year. The campaign, launched on 12 July, offers up to S$3 cashback for the first 160,000 people who scan to pay with PayLah! every Saturday at more than 22,000 participating shops, wet markets and hawker stalls. In its first month, over 400,000 Singaporeans and residents redeemed about 800,000 rewards, pointing to strong repeat use. Wet market stallholders have seen the sharpest gains. The number of customers paying via PayLah! on Saturdays has tripled, while overall spending has nearly doubled, continuing the trend observed during last year’s campaign. The cashback programme is part of DBS’s SG60 initiative, which sets aside S$23 million in savings and support for customers and beneficiaries in Singapore. Compared with the “POSB Support Our Heartlands” campaign in August 2024, the rewards pool has doubled, allowing more redemptions each weekend. To drive further traffic, DBS has partnered with gamification platform Sqkii on the #HuntTheMouse – DBS SG60 Edition. The #HuntTheMouse DBS SG60 Edition game, designed to drive traffic to heartland locations across Singapore. Running from 14 August to 25 September, the game hides 200 gold coins worth S$120,000 in heartland areas, with local businesses integrated as hunting stops or in-game pop-ups. More than 30,000 people joined on the first day, with Jurong, Toa Payoh and Bedok among the busiest spots. Beyond cashback, the bank is also working to help small businesses expand their reach. In April, it became the first Singapore bank to support livestream selling, launching workshops under its Heartland Merchant Banking Package with TikTok and Boom Media. Two workshops and three live sessions trained more than 70 participants in content creation, live presentation and customer engagement. Stallholders say the initiative has brought in both regulars and new shoppers, including older customers who are more willing to try digital payments. Families have also been spending more during weekend visits. Lim Him Chuan “As a homegrown bank, we are dedicated to supporting and celebrating the everyday heroes of our heartlands – the merchants who are an integral part of Singapore’s culture and heritage. Through fun and rewarding initiatives like our weekly SGD 3 cashback and latest Hunt The Mouse game, we aim to encourage more Singaporeans to explore the unique charm of their neighbourhoods and, more importantly, support the local businesses that bring vibrancy and life to our heartlands,” said Lim Him Chuan, DBS Singapore Country Head.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik     The post DBS Cashback Push Spurs 50% Rise in Weekend Sales at Heartland Merchants appeared first on Fintech Singapore.

Vietnam’s e-commerce market is one of the most dynamic and fastest-growing in Southeast Asia, continuing its upward trajectory and showing signs of evolution and maturity. Key trends shaping the sector include the rapid adoption of “shoppertainment”, the surge in cross-border transactions, and tighter regulatory oversight to address fraud risks, protect consumers, and ensure fair competition. E-commerce surges driven by “shoppertainment” Sales on four e-commerce platforms in Vietnam, namely Shopee, Lazada, Tiki, and TikTok Shop, reached VND 202.3 trillion (US$7.8 billion) in H1 2025, representing a nearly 42% year-over-year (YoY) increase, according to data from Metric.vn, an e-commerce market research platform from Vietnam. Total sales volume also increased, growing 25.4% YoY to 1.9 billion products. Metric.vn expects e-commerce sales to grow in Q3 2025, increasing by 21% in value quarter-on-quarter (QoQ) to reach VND 122.8 trillion (US$4.7 billion). Consumption output is also set to increase, totaling around 1.2 billion products, up 27% QoQ. In H1 2025, TikTok Shop led in growth with a 69% YoY surge in revenue. The platform also saw its market share increase from 29% to 39%, underscoring the momentum of the “shoppertainment” model. This model enables brands to sell directly through video content, allowing businesses to entertain customers while they shop. This makes the shopping process more interactive and enjoyable, which in turn increase sales and customer loyalty. Increased competitive pressure This year, Shopee maintains its market leading position, boasting a 58% market share in the first half of 2025. However, this marks a decline from 63% in H1 2024, signaling increasing competitive pressure. Revenue growth was also more modest, at 16% YoY. Lazada and Tiki also faced challenges, with sale dropping 48% and 63%, respectively, alongside further market share declines. Competition is also intensifying at the seller level. The number of online shops fell 6% YoY, and the number of shops generating orders in H1 2025 dropped by over 80,000 compared to H1 2024, and by more than 55,000 compared to H2 2024. Metric.vn attributes this to market consolidation, with activity increasingly concentrating on large-scale sellers capable of maintaining steady order flows. Official brand stores are also gaining in prominence, now driving a significant share of e-commerce platform revenues. Although these shops account for a minor 3.4% of total shops, they contribute up to 28.7% of total revenue on Shopee and TikTok Shop, reflecting growing consumer preference for authentic stores that ensure product quality and service reliability. Cross-border shopping on the rise Another rising trend this year is cross-border e-commerce. In H1 2025, imported goods recorded sales of VND 7.5 trillion (US$285 million), with more than 164 million products sold, marking a nearly 7% YoY increase. This builds on growth already observed in 2024. Last year, more than 324.1 million products arrived in Vietnam, up nearly 38% YoY. These products generated sales of VND 14.2 trillion (US$564.5 million), representing a remarkable 43% YoY increase. E-commerce exports are also on the rise. Access Partnership, a research organization on e-commerce, estimates that the value of Vietnam’s business-to-consumer (B2C) e-commerce exports reached VND 86 trillion (US$3.5 billion) in 2023 and are projected to grow 1.7 times through 2028 to VND 145.2 trillion (US$5.8 billion). Micro, small and medium enterprises (MSMEs) are set to contribute significantly, accounting for an estimated 25% of that value. Tighter regulatory oversight The growth in cross-border e-commerce has prompted new regulatory measures. In January 2025, Vietnam Law and Legal Forum of the Vietnam News Agency reported that the Ministry of Industry and Trade (MoIT), through its E-commerce and Digital Economy Agency, was working on an e-commerce law, aiming to make online trade more sustainable, protect consumers, and ensure that foreign sellers meet the same obligations as domestic ones. This law would require any foreign business selling into Vietnam to obtain a license from the MoIT and establish a representative office in Vietnam or appoint a legal entity in Vietnam as their authorized representative. These representatives would be responsible for ensuring consumer rights, verifying seller information, and providing compensation before disputes escalate. The law would also mandate that foreign goods and services sold in Vietnam meet local product standards, technical requirements, and safety regulations. Foreign e-commerce platforms would also have to share seller information with Vietnamese regulators and comply with a government-approved list of goods allowed for import via e-commerce. The ministry plans to submit the draft law for consideration in October 2025. Separately, a new decree, effective July 01, 2025, requires e-commerce and digital platforms that process payments, whether domestic or foreign, to withhold value-added tax (VAT) and personal income tax from individual sellers who use their platforms. According to law firm Baker and McKenzie, the rule applies to all sellers, both residents and non-residents, with tax residency determined based on official personal income tax regulations. Sellers are required to supply accurate identification information, and cooperate with platforms to ensure correct tax withholding. E-commerce platforms, meanwhile, must declare and pay these taxes monthly to the tax authorities. They must also provide annual tax withholding certificates to sellers, store transaction and account data, and share information with tax authorities when requested.   Featured image: Edited by Fintech News Singapore, based on images by Kajikom and Frolopiaton Palm via Freepik The post Vietnam’s E-Commerce Market Rises on Shoppertainment Surge, and Cross-Border Trade appeared first on Fintech Singapore.

True Global Ventures 4 Plus (TGV) has secured a Capital Markets Services license from the Monetary Authority of Singapore. This enables it to conduct regulated fund management activities under the Securities and Futures Act 2001 beyond the management of venture capital funds. The approval recognises TGV as a licensed fund management company for accredited investors and allows it to manage regulated investment funds from Singapore. The license enables the firm to expand its mandate to new strategies. These include continuation funds that can support later-stage pre-IPO companies and invest in both primary and secondary rounds. It also covers fund of funds that allocate capital to other leading venture managers across regions and sectors. In addition, TGV may make selective investments in listed companies aligned with its focus on artificial intelligence and blockchain, giving investors exposure across both private and public markets. The license also allows TGV to set up crypto funds that provide managed access to digital assets with strong governance and risk controls. Beatrice Lion “We are honoured to receive the CMS license from MAS, which reflects our commitment to meeting the highest regulatory compliance and governance standards. This milestone enables us to build on True Global Ventures’ strong track record and with immediate effect we will be able to invest more in secondaries in our existing portfolio without restrictions from our previous VCFM license.” said Beatrice Lion, CEO of TGV. Dušan Stojanović “With our expanded license, all of the above investment strategies are possibilities of our fund management activities. That said, we will still maintain our core focus on funds investing in equity with fund sizes between US$100 and 200 million where we have so far had exceptional returns being among the top 3% of venture capital funds globally in the same vintage.” said Dušan Stojanović, initiator of TGV.     The post True Global Ventures Secures Expanded MAS License, Paving Way for Crypto Funds appeared first on Fintech Singapore.

Singapore-based Coda has completed its acquisition of Amsterdam-headquartered Recharge, a prepaid payments platform in Europe, following its July announcement of a definitive agreement to acquire the company. The combined business now serves over 200 million users in 180 markets and processed US$1.75 billion in sales in 2024. It is on track to surpass that figure in 2025. Coda works with publishers including Electronic Arts, Activision and Riot Games, while Recharge partners with Apple, Google, Vodafone and PlayStation. The deal expands Coda’s European presence and broadens its product portfolio alongside existing networks in Southeast Asia and other markets. Recharge.com, Startselect and Giftcloud will continue operating alongside Coda’s Codapay, Codashop, Custom Commerce and Coda Distribution. The companies said their teams remain in place to ensure continuity. The transaction is backed by Apis Partners, Insight Partners, Smash Capital and other investors. Shane Happach Shane Happach, Chief Executive Officer of Coda, said, “Closing this acquisition marks a major milestone in Coda’s growth journey. Recharge adds a strong consumer business, a talented team, and a product portfolio that fits seamlessly alongside ours. We now have the scale, reach, and capabilities to create new opportunities for our partners and customers worldwide — and our immediate focus is on working together to unlock that potential.” Günther Vogelpoel Günther Vogelpoel, Chief Executive Officer of Recharge, said, “Recharge brings a strong consumer engine, trusted brands, and a talented team — and now, as part of Coda, we can take that to a truly global stage. Together, we have the scale, reach, and complementary strengths to create even more value for our partners and customers worldwide. Closing this deal marks the beginning of an exciting new chapter for our businesses together.”       The post Singapore’s Coda Completes Acquisition of Recharge to Grow European Reach appeared first on Fintech Singapore.

Visa is expanding its Click to Pay service across Asia Pacific through partnerships with payment enablers 2C2P, Adyen, AsiaPay and Worldpay. The service lets online shoppers complete transactions without entering card details manually, using tokenised information linked to an email address or mobile number. It is designed to work across browsers and devices and supports biometric authentication through payment passkeys. Personal information is stored by Visa to address consumer concerns about saving data on third-party sites. The regional rollout follows earlier launches, including with ZA Bank in Hong Kong, the first issuer in Asia Pacific to enable Click to Pay as a standard feature. In Vietnam, the service is available to Techcombank and VPBank Visa cardholders shopping with participating merchants. T.R. Ramachandran T.R. Ramachandran, Head of Products and Solutions, Asia Pacific, Visa, said, “Visa is accelerating the rollout of Click to Pay to simplify the eCommerce checkout experience across Asia Pacific. Through strategic collaborations with 2C2P, Adyen, AsiaPay, and Worldpay, we are helping merchants increase sales, banks to deepen customer engagement, and consumers enjoy quicker, secure checkouts.” Warren Hayashi Warren Hayashi, President, Asia Pacific, Adyen said, “Visa’s Click to Pay aligns directly with our mission to simplify payments and empower global commerce. It reduces the need for manual card entry while managing risk, enabling us to offer our merchants a seamless, secure checkout experience that reduces cart abandonment and improves authorization rates. This will empower them to better meet the growing consumer demand for fast, secure, and frictionless payments — especially in mobile-first markets across Asia.”     Featured image: Edited by Fintech News Singapore, based on image by Visa The post Visa Pushes Wider Adoption of Click to Pay in Asia Pacific With New Partnerships appeared first on Fintech Singapore.

The Singapore Police Force has warned the public about a rise in phishing scams involving YouTrip e-wallet accounts, with at least 21 cases reported since June 14 and losses amounting to about S$16,000. Victims were lured by online advertisements for cheap food items such as durians and were directed to fraudulent websites. They were asked to provide their YouTrip card details, delivery information and phone numbers. Scammers then attempted to log in using the numbers, which triggered a one-time password (OTP) sent to the victims’ phones. Believing the OTP was needed to complete their purchase, victims entered it on the fake website, followed by their six-digit YouTrip login PIN. These details allowed the scammers to take over the accounts and make unauthorised transactions. Most victims only discovered the fraud after their accounts were compromised. While recent cases involved food promotions, police said scammers are likely to change their tactics and warned against entering e-wallet login details on unverified websites. Users are advised to only use official apps and platforms, and to contact their financial institutions immediately if they detect unauthorised transactions. Authorities also reminded the public to install the ScamShield app, enable two-factor authentication, avoid clicking suspicious links, and remain cautious of deals that appear too good to be true. Reports of suspicious activity can be made to financial institutions or relevant platforms.     Featured image: Edited by Fintech News Singapore, based on image by upklyak via Freepik The post Singapore Police Warn of YouTrip Phishing Scams Following S$16,000 in Losses appeared first on Fintech Singapore.

Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) have reaffirmed their close ties at the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam. At the meeting, the two central banks discussed global and regional economic developments as well as cooperation in payments connectivity. They also reviewed plans to mark the 60th anniversary of the Currency Interchangeability Agreement (CIA) in 2027. During the roundtable, BDCB Managing Director Hajah Rashidah binti Haji Sabtu and MAS Managing Director Chia Der Jiun signed a memorandum of understanding on a reciprocal cross-border collateral arrangement. The agreement will enable both regulators to accept a broader range of collateral in their liquidity facilities, which is expected to give financial institutions greater flexibility in managing liquidity and support financial stability in both countries. Hajah Rashidah BDCB Managing Director Hajah Rashidah remarked, “The Bilateral Roundtable stands as a testament to the strong relationship between BDCB and MAS. It is a valuable platform to enhance collaboration on areas of mutual interest and strategic importance. As long-standing partners, our continued cooperation is vital in navigating the evolving regional economic landscape.” Chia Der Jiun MAS Managing Director, Chia Der Jiun said, “The CBCA MoU further strengthens collaboration between MAS and BDCB and deepens our close bilateral relations. We look forward to commemorating the 60th Anniversary of the CIA in the near future.”     Featured image: Hajah Rashidah binti Haji Sabtu, Managing Director, BDCB, and Chia Der Jiun, Managing Director, MAS, at the MoU signing ceremony. The post Brunei and Singapore Central Banks Strengthen Bilateral Financial Ties appeared first on Fintech Singapore.

Thailand has launched a program that allows foreign visitors to convert crypto into baht for everyday electronic payments. The Nation reports that the initiative, called TouristDigiPay, is part of broader efforts to revive tourism following a slowdown in arrivals, particularly from China. Deputy Prime Minister and Finance Minister Pichai Chunhavajira will present the details alongside officials from the Finance Ministry, the Securities and Exchange Commission, the Anti-Money Laundering Office, the Bank of Thailand, and the Ministry of Tourism and Sports. The program will operate in a regulatory sandbox to ensure proper oversight and to prevent the direct use of crypto as a payment instrument. To participate, tourists must open accounts with a licensed digital-asset business and an e-money provider supervised by the SEC and the central bank. They will also be required to complete KYC and customer due diligence checks that comply with AMLO standards. Only foreigners temporarily staying in Thailand will be eligible. Spending will take place in baht after conversion, including through QR code payments. Monthly caps will be imposed to reduce financial crime risks. Accounts used at merchants with card terminals will be limited to 500,000 baht per month, while smaller merchants will be capped at 50,000 baht. Cash withdrawals will not be allowed except when an account is closed, and transactions in categories flagged as high risk by AMLO will be prohibited. The Bank of Thailand is also developing a Tourist Wallet to assist visitors who do not have cross-border QR arrangements. It will initially function as an e-money conversion tool, with plans to eventually link to foreign debit and credit cards.     Featured image: Edited by Fintech News Singapore, based on images by drobotdean, sweet_tomato, and notting0127 via Freepik   The post Thailand Rolls Out Crypto-to-Baht Payment Pilot to Boost Spending by Tourists appeared first on Fintech Singapore.

HSBC is preparing one of the most extensive workplace monitoring projects in global banking, pairing thousands of new cameras and biometric scanners with Israeli-built surveillance tools, according to internal documents seen by Reuters. At its new City of London headquarters, the bank intends to install about 1,754 cameras, nearly four times the number at its Canary Wharf base. Biometric scanners are also set to more than double, from 350 to 779, with systems ranging from full-hand recognition to phone-based entry using staff mobiles. The initiative will not be limited to the UK. HSBC is extending the same security model to major sites worldwide, supported by Israeli surveillance firm Octopus. The company’s tools are already in use in London and Hong Kong and are due to be rolled out to India and Mexico. Israel is among the world’s largest exporters of surveillance technology, and Octopus markets its systems in dozens of countries, Reuters reported. The London programme includes artificial intelligence to analyse camera feeds and extra monitoring around trading floors. The budget for the new headquarters’ surveillance has recently been lifted to about US$15 million, the documents show. Adoption of digital entry systems has been uneven. Many UK staff had not switched to biometric or phone-based access by late last year, despite the rules being introduced in 2022. HSBC, which employs more than 210,000 people globally, has said the technology is designed to protect employees, clients and visitors. The security project is overseen by Diane Marchena, global head of protective security, who reports to Chief Operating Officer Suzy White. Alongside these measures, HSBC is introducing its first global return-to-office policy. From October, senior managers will be required to attend at least four days a week. The bank also plans to retain a footprint in Canary Wharf in addition to its new City headquarters. The broader surveillance drive reflects a trend among employers adjusting to hybrid work. Privacy advocates argue that such monitoring risks undermining worker rights and wellbeing, a concern highlighted in recent studies.     Featured image: Edited by Fintech News Singapore, based on image by wichayada via Freepik The post HSBC to Roll Out Expanded Office Surveillance Using Israeli Tech, Reuters Reports appeared first on Fintech Singapore.

Across Southeast Asia, real-time bank transfers are now part of everyday life. In Singapore, Thailand and Malaysia, systems like PayNow, PromptPay and DuitNow are used for everything from buying coffee to splitting the bill after dinner. QR codes are everywhere – stuck to café tills, printed on receipts or shared through chat apps. But while these A2A systems are fast, they’re not always flexible. Rising fraud, limited consumer protections and the domestic nature of these payment rails are starting to reveal their shortcomings. That’s creating space for a less expected alternative: virtual cards. In 2024, A2A and e-wallet payments in ASEAN reached a combined gross transaction value of US $1.14 trillion, a 14% increase year-on-year. Backed by national schemes and real-time settlement rails, these systems have earned public trust by proving useful in everyday situations: paying bills, receiving salaries, or buying groceries – their speed and low cost have made them a reliable part of daily life. But even as volumes grow, so do the limitations. Despite widespread adoption, most A2A payment systems remain domestic in design. Cross-border functionality depends on government or central bank-led linkages, an effort that’s still patchy across the region. Consumer protections are also limited. Once a payment goes through, it’s typically irreversible, even in cases of fraud or error. And the fraud is escalating. In 2024, phishing attacks involving QR codes surged by more than 270% month-on-month in Southeast Asia. Another way to pay Source: starline via Freepik Virtual cards are quietly gaining ground in the areas where A2A systems fall short. Unlike most real-time payment rails, they come with built-in chargeback rights, stronger fraud controls and global acceptance. That makes them a useful tool for managing subscriptions, shopping internationally or segmenting spending inside digital wallets. And while they haven’t had the same policy push as national payment rails, adoption is clearly picking up, especially in markets where people want more protection and flexibility in how they pay. The global virtual card market is projected to exceed US $60 billion by 2030, with Asia Pacific expected to lead the way, driven by growing demand for secure, card-based options that work across borders and channels. Virtual cards have moved from being a nice-to-have to something many people now use every day. Since late 2024, Visa has supported push-to-wallet virtual card provisioning in both Google Pay and Apple Pay, making it easier for users and banks to securely add new cards with spending limits and fraud controls in place. Card funding still plays a big role in mobile payments across Southeast Asia – more than 25% of mobile payment activity in Southeast Asia is backed by credit or debit cards, and 43% of new card applicants in 2023 cited wallet integration as the main reason. Taken together, these trends show that digital wallets and virtual cards are not only converging, but they’re also becoming interchangeable tools for consumers. What makes virtual cards useful? Source: Freepik It’s the control that sets them apart. Virtual cards can be issued instantly, set up with their own spending rules, and limited to a specific category or merchant. That makes it easier to budget, isolate spending, or manage things like subscriptions and travel – all without exposing the main account. Some wallets even let users generate single-use cards for riskier purchases or freeze and replace a card instantly if something goes wrong. These features offer more than convenience: they build confidence, especially when transacting online or with unfamiliar merchants. That same flexibility is now catching the attention of banks and wallet providers, who see virtual cards not just as a feature for users, but as a tool for smarter, safer payments. Why banks and fintechs are paying attention Source: starline via Freepik For issuers, virtual cards offer practical advantages. They can be created or replaced instantly, locked to a single merchant or transaction, and turned off just as quickly. That reduces the risk of fraud and makes them easier to manage than physical cards or bank transfers. They also help providers see spending more clearly. Each card can be set up for a specific purpose – whether it’s for subscriptions, travel or everyday online shopping – helping both users and providers keep spending organised. Dynamic CVVs and tokenisation add security, while real-time transaction data improves categorisation, reduces disputes and offers better visibility on user behaviour. As more payments happen online and across borders, people want tools that offer not just speed, but more control over how their money moves. For banks and fintechs, supporting virtual cards is a way to meet shifting customer expectations, offering added security and personalisation without giving up convenience. What comes next is choice Southeast Asia’s payments mix is getting more layered. As digital wallet usage grows, and commerce stretches across borders, people need different ways to pay – not just faster ones. Virtual cards won’t replace A2A, but they’re offering something A2A can’t: user-level control, broader acceptance and better fallback when things go wrong. That makes them less of a side option, and more part of the main set.       The post Why Virtual Cards Deserve a Bigger Role in Asia’s Payments Story appeared first on Fintech Singapore.

Cloud computing is now a cornerstone of modern banking technology. Its adoption across the global corporate banking sector reflects an industry-wide shift to simplify systems, improve cost efficiency, and ensure more agile, scalable infrastructure. The main drivers behind cloud adoption fall into three categories: business, technical, and compliance. As digitalisation continues, banks are actively reviewing their application landscapes to determine which platforms will best support their transformation goals. Many see cloud as a way to simplify operations, improve cost efficiency, and lay the foundation for future growth. Simplification and consolidation A growing number of banks are looking to simplify and consolidate their technology stacks. This often means moving toward product systems – platforms purpose-built to manage lending and trade finance products that meet regulatory and market demands. By letting specialist systems focus on their core functions – lending, risk, reporting – banks can avoid overloading a single platform and create a modular environment that is easier to maintain and scale. This supports consolidation efforts, such as replacing multiple platforms for bilateral, SME, and syndicated lending with a single unified system. Standardisation is another benefit. A common platform makes it easier to train staff, streamline workflows, and support global initiatives to unify procedures across jurisdictions. Operational efficiency: A priority for CTOs Image credit: marynakushnarova via Freepik CTOs are under pressure to reduce technology costs while also enabling growth. Too much time is still spent on maintaining legacy systems – time that could be better used on innovation and transformation. This is where managed cloud services are proving valuable. Platforms like Finastra’s Lending Cloud Service (LCS), which deliver core lending functionality through a continuously updated model, allow banks to shift away from owning and maintaining software themselves. Instead, they gain access to a scalable, secure platform that evolves in step with market and regulatory changes – without needing to manage upgrades or infrastructure in-house. By reducing the total cost of ownership and freeing up internal teams, this model enables banks to focus more resources on delivering value and improving service. The increasing appetite for clean data Image credit: champpixs via Freepik Banks today require accurate, real-time data – not just for internal decision-making, but to meet growing expectations from regulators, auditors, and business leaders. Clean data is essential to run AI models, produce audit trails, and demonstrate compliance. Technology providers, including Finastra, are expected to supply decision-grade data that flows cleanly across systems – from analytics to compliance. We’re also seeing increasing demand for integrated compliance platforms that consolidate data from across the bank. Regulations such as BCBS 239 have made clear the expectations around data: it must be accurate, complete, timely, and adaptable – particularly during stress events. Rethinking architecture for scale and connectivity Image credit: Freepik Cloud migration offers more than operational efficiency – it enables banks to rethink how their technology is structured and connected. Many are embracing an architectural model known as functional decomposition, where systems are broken down into specialised components that each perform a clearly defined role. This avoids overloading platforms with tasks they’re not designed to handle and leads to greater scalability and resilience. As part of this shift, modern platforms like Finastra’s LCS are designed to integrate easily into a bank’s existing ecosystem through APIs. This allows for seamless connection to internal systems – such as compliance tools, AI models or reporting platforms – while also supporting consolidation. Rather than maintaining separate systems for different lending types, banks can adopt a unified platform that handles them all. By focusing on modularity and integration, banks can simplify their core infrastructure, reduce complexity, and future-proof their operations. Looking ahead Cloud migration is more than a technical upgrade – it’s a strategic decision with far-reaching implications. It reshapes how banks think about operations, compliance, and innovation. The right cloud-based platform doesn’t just reduce costs; it enables scale, flexibility, and a more connected business. LCS reflects this evolution. It offers banks a simplified, continuously updated service model that helps them meet changing market needs without the burden of managing infrastructure. As institutions continue down the path of digital transformation, models like this are set to play a central role in modern banking strategy.     Featured image: Edited by Fintech News Singapore, based on image by Finastra The post Cloud-Based Lending Platforms Gain Ground Amid Push for Simplification, Scale appeared first on Fintech Singapore.

FIS has introduced the FIS Investor Services Suite, an end-to-end solution aimed at improving investor servicing for financial institutions, as well as alternative and traditional fund managers. The system is designed to optimise processing for faster client onboarding and enhanced investor screening, with the potential to automate the investor lifecycle to increase operational efficiency and support regulatory compliance. The launch comes as the capital markets industry faces growing regulatory requirements and operational challenges. Joint research by FIS and Chartis indicates that the alternative assets market could surpass US$20 trillion by 2025, creating demand for more streamlined, technology-driven solutions. The Investor Services Suite is intended for hedge funds, private equity, hybrid funds and retail fund structures. It offers digital onboarding tools, including integration with identity verification systems, and allows customisation of anti-money laundering (AML) and Know Your Customer (KYC) processes to meet requirements in multiple jurisdictions. Other features include cash management functions, fee calculation tools and options for customised reporting. Matt Stauffer, SVP and Group Executive at FIS, said: Matt Stauffer “Managing investor servicing processes has long been a pain point for fund managers and administrators, especially given increasing regulatory demands, cost pressures and client expectations for personalised services. By enabling greater levels of automation, financial institutions can streamline their investor servicing lifecycle and position themselves for long-term success in a highly variable environment.” According to FIS, the suite aims to help fund managers, administrators and private banks modernise operations, with potential benefits for end investors through improved transparency, engagement and decision-making across the investor lifecycle.   Featured image credit: FIS The post FIS Launches Investor Services Suite for Fund Managers and Institutions appeared first on Fintech Singapore.

Vietnamese police in Phu Tho Province have charged 20 people over an alleged cryptocurrency fraud involving Paynet Coin (PAYN) that authorities say stole billions of dollars from victims in Vietnam and overseas, VnExpress reported. The group, led by Nguyen Van Ha, from Gia Lai Province, is accused of creating the token on a blockchain and promoting it through websites such as FMCPAY.com and AFF2024.com. Investors were promised monthly returns of 5–9 percent and referral rewards, a model police say mirrored a Ponzi scheme. Payouts came in PAYN tokens, which could be swapped for USDT and converted into cash. VnExpress said the operators also claimed the project was U.S.-registered and usable for travel bookings, though no agency accepted it. Police have seized cash, foreign currencies, and real estate worth trillions of Vietnamese dong, and the investigation is continuing.     Featured image: Edited by Fintech News Singapore, based on images by Paynet Coin via Facebook, and somemeans via Freepik   The post Vietnam Charges 20 in Alleged Billion-Dollar Paynet Coin Crypto Fraud appeared first on Fintech Singapore.

NTT DATA has entered a global partnership with Google Cloud to accelerate AI-powered cloud innovations and expand enterprise adoption across industries. The collaboration brings together NTT DATA’s deep industry expertise in AI, cloud-native modernisation and data engineering with Google Cloud’s advanced analytics, AI and cloud technologies to deliver tailored, scalable solutions. The partnership will focus on industry-specific applications of agentic AI and cloud modernisation in sectors including banking, insurance, manufacturing, retail, healthcare, life sciences and the public sector. In financial services, it will support regulatory compliance and reporting through NTT DATA’s Regla platform, which uses Google Cloud’s scalable AI infrastructure. In hospitality, NTT DATA’s Virtual Travel Concierge, powered by Google’s Gemini models, provides multilingual support, real-time itinerary planning and personalised travel recommendations. The companies will also advance secure and sovereign cloud deployments through Google Distributed Cloud, offering both air-gapped environments for maximum data isolation and connected options that integrate with cloud services. These deployments aim to meet data sovereignty and regulatory requirements in sectors such as finance, government and healthcare. NTT DATA has set up a dedicated global Google Cloud Business Group of thousands of engineers, architects and advisory consultants, working closely with Google Cloud teams to help clients adopt and scale AI-driven cloud technologies. The company plans to certify 5,000 engineers in Google Cloud technology. Both firms are making joint investments in global sales and go-to-market campaigns to drive adoption in priority industries. The partnership builds on a 2024 co-innovation agreement in Asia Pacific and follows NTT DATA’s acquisition of Google Cloud specialist Niveus Solutions, which received three 2025 Google Cloud Awards for its work in India, the APAC region and Chile. Marv Mouchawar “This collaboration with Google Cloud represents a significant milestone in our mission to drive innovation and digital transformation across industries. By combining NTT DATA’s deep expertise in AI, cloud-native modernisation and enterprise solutions with Google Cloud’s advanced technologies, we are helping businesses accelerate their AI-powered cloud adoption globally and unlock new opportunities for growth.” said Marv Mouchawar, Head of Global Innovation, NTT DATA. Kevin Ichhpurani “Our partnership with NTT DATA will help enterprises use agentic AI to enhance business processes and solve complex industry challenges. By combining Google Cloud’s AI with NTT DATA’s implementation expertise, we will enable customers to deploy intelligent agents that modernise operations and deliver significant value for their organisations.” said Kevin Ichhpurani, President, Global Partner Ecosystem at Google Cloud.     Featured image: Edited by Fintech News Singapore, based on image by Freepik   The post NTT DATA, Google Cloud to Advance AI-Powered Cloud Modernisation for Enterprises appeared first on Fintech Singapore.

Neon has partnered with payment service provider Razorpay to let its clients accept payments from players in India in local currency via UPI-enabled methods, as well as credit and debit cards. The move extends Neon’s Merchant of Record platform to India, bringing its global payment service provider network to seven: Razorpay, Stripe, PayPal, Paysafe, dLocal, Bamboo and Komoju. This network covers over 99% of global mobile game spending, including all of the top 50 markets. India is a priority market for Neon, driven by client demand and the fastest-growing user base in mobile gaming. In FY 2024–25, the country recorded 8.45 billion mobile game app installs, the highest volume globally. In-app purchase revenue is about US$400 million but growing as digital payment infrastructure matures. UPI accounts for 83% of all digital transactions and 186 billion transactions during the same period. Through Razorpay’s gateway, Neon will offer payments in Indian rupees via UPI wallets and local cards, while managing checkout, tax compliance, fraud protection and dispute resolution. Razorpay’s compliance with the Reserve Bank of India’s Payment Aggregator–Cross Border framework enables secure remittance and timely settlements, allowing Neon to move funds from India to global operations. Headquartered in San Francisco, Neon is a direct-to-consumer payments platform for the games industry, offering Merchant of Record services, compliance, fraud protection, a plug-and-play webshop, customisable checkout and local payment coverage worldwide. Razorpay processes payments for over 10 million businesses in India. Chris Faught Chris Faught, Founder and CEO of Neon, said, “India is one of the most exciting growth opportunities in gaming today: a massive, mobile-first audience, now reachable through efficient direct-to-consumer payments. This is exactly why we built Neon. With Razorpay, we’re unlocking both scale and margin for our clients, while giving players in India the seamless, local experiences they expect.”     Featured image: Edited by Fintech News Singapore, based on image by EyeEm via Freepik The post Neon Taps Razorpay to Enable Direct Payments for Indian Mobile Gamers appeared first on Fintech Singapore.