The Singtel Group said it inked an MoU with GrabTaxi to promote the use of the group’s mobile wallet services on the latter’s app.
Despite fintech startups being the sexy new kids on the block, and a host of new digital-fuelled payment initiatives and platforms, such disruption will not kill off the incumbents, MOL Inc founder and chairman Ganesh Kumar Bangah told the What's Next conference.
Non-bank-led financial services, such as Alipay and WeChat Wallet, are disrupting emerging markets and challenging banks by becoming viable alternative payment methods, according to a survey commissioned by ACI Worldwide and conducted by IDC Financial Insights.
Despite the diversity of the economies in South-East Asia, the region is ripe with opportunity for IoT players to enter, and drive adoption and development.
Mobile payment growth in Asia Pacific is outpacing the rest of the world, and will make up half of the global market by 2017, according to International Data Corporation (IDC).
Settling bills between friends seems to be enough of a problem that many startups have tried to tackle the issue, and even the banks are coming in. Singaporean startup Kashmi thinks it has a singular solution.
E-commerce payment management services provider CyberSource, a wholly-owned subsidiary of Visa Inc, has announced a partnership with South-East Asian payment network provider AirPay Co Ltd.
M1 Ltd, in collaboration with CIMB, MasterCard and Wirecard, has launched a mobile point of sale (mPOS) solution, which it said transforms smartphones and tablets into terminals that allow merchants to accept credit, debit and prepaid card payments from customers anytime, anywhere.
MasterCard said that its MasterPass digital payments platform has been gaining momentum in Asia Pacific, driven by the increasing trend among consumers in using it for smaller ticket, everyday payments.
After a series of acquisitions over the past few years, as well as the ‘financial data errors’ incident which saw a delay in its reporting, MOL Global will have a smaller appetite for mergers and acquisitions in 2015.