Cashless

Retail Asia21/04/2017

At convenience stores across the country, customers paying with cash will have the option of depositing extra change into public transit cards or converting them to rewards points. The bank’s goal is to reduce the number of circulating coins, which costs an estimated 60 billion won ($52.6 million) a year to mint.The Bank of Korea […]

Retail Asia20/03/2017

“I think cash is old fashioned,” said AirAsia Group CEO Tony Fernandes, as he introduced plans of making all in-flight purchases on AirAsia flights cashless. From demonetisation to flights, going cashless seems to be the norm. Notably, airlines in the United States started going cashless for in-flight transactions as early as 2009. Even in India, […]

Retail Asia13/02/2017

It’s a little hard to believe, but, four years ago, sim cards in Myanmar used to cost around US$500. If that price is considered exorbitant for even a first world nation, think about how out-of-reach it would be for the working class Burmese, whose minimum wage is only US$87. But that all changed thanks to […]

Retail Asia11/01/2017

After the demonetisation of India’s 500 and 1,000 rupee banknotes, the Indian government is stressing the importance of digital transactions in a bid to help the country transform into a cashless economy. Government policy think-tank Niti Aayog CEO Amitabh Kant has predicted that that cards, ATMs and POS machines would become redundant in the country […]

Retail Asia14/12/2016

CIMB Bank Bhd has launched a lifestyle mobile application, CIMB Pay that provides combine secure cashless payments with deals and offers. This enables the bank’s seven million customers to experience faster, easier and more secure payments at over 1,800 contactless terminal-enabled merchants nationwide as well as search nearby location-based real-time deals. Group consumer banking chief […]

Retail Asia04/12/2016

South Korea is the next country looking to go cashless. That in itself may not surprise most people, but the way the government is going about things will raise a lot of questions. It appears the current plan is to force people to hand over all of their physical currency to the central bank. This […]

Retail Asia01/12/2016

The rapid growth of cashless payments are growing rapidly in Asia-Pacific is triggering a corresponding rise in cybercrime, which is costing the region an estimated $81 billion annually. With new combinations of malware customized for local markets, phishing and social engineering attacks as well increasing e-commerce and ATM fraud, businesses are increasingly at risk for […]

Retail Asia25/11/2016

India is currently the largest growing market for smartphones and it is estimated that the number of smartphones sold in the country is very likely to be greater than 100 million in 2017.BEIJING: As India embarked on cashless economy with demonetisation of high value notes, smartphones could help in the country’s de-cashing drive like in […]

Retail Asia21/10/2016

A top down regulatory push toward cashless societies will stimulate exponential growth in the mobile payment market in Asia-Pacific (excluding China and India), which will surge from $71.92 billion to $271.47 billion by 2021, research from Frost & Sullivan indicates. According to the research firm, the number of active customers will also double to 130.8 […]

Retail Asia08/06/2016

Bank Rakyat Indonesia (BRI) has been revamping its digital banking services as part of its “cashless society” program and in support of the central bank’s Non-Cash Payment Movement (GNNT), a senior BRI official said last week. BRI Consumer Director Sis Apik Wijayanto said the top small-business lender intends to reduce cash to a minimum for […]

Tag: Cashless

Bank of Korea begins effort to ditch coins

AirAsia plans to go fully cashless; stresses on digitisation

How Thai e-wallet startup T2P is going to help Myanmar go cashless

India could become cashless by 2020

CIMB launches mobile wallet app for cashless payments

South Korea’s Cashless Push Will See Coins Removed From Circulation By 2020

Forum explores securing APAC cashless payments

Smartphones can help India’s drive for cashless economy

Cashless push stimulating APAC m-payment market

BRI Goes Digital for Cashless Society Program