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Retail Asia01/10/2020

The cross-border payments specialist is integrating e-wallet leaders Doku and Ovo into its global portfolio. The new integrations help to accelerate market entry and boost conversion for businesses hoping to tap on Southeast Asia’s largest e-commerce market, where credit card penetration is less than 5 percent of the population, the company said in an announcement. PPRO’s local payments […]

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Retail Asia28/09/2020

BigPay is coming to Singapore, after 2 years of rapid growth with over 1 million users in Malaysia. The fast-growing Fintech is on an aggressive growth path and is getting ready to make its mobile money app and prepaid Visa card available to all Singapore residents in the coming weeks. “We quietly opened up our […]

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Retail Asia07/09/2020

Alternative payments have moved mainstream in India amid Covid-19, according to GlobalData. Payment platforms such as mobile and digital wallets have gained popularity among online shoppers, gradually replacing traditional payments during the pandemic. “The adoption of alternative payments has been on the rise since demonetization in 2016,” said Ravi Sharma, lead banking and payments analyst […]

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Retail Asia14/05/2020

Ninety-one percent of Asia-Pacific consumers and 79 percent of people globally say they are now using tap-and-go payments, according to a survey by credit card firm Mastercard. Polling by the firm, which focused on shifting consumer behaviors in 19 countries, shows accelerated and sustained adoption of contactless payments globally in the midst of the coronavirus […]

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Retail Asia12/05/2020

During February and March, as many countries imposed or strengthened social distancing measures due to COVID-19, a significant majority of consumers turned to contactless card payments for necessary purchases. Citing safety and cleanliness, 79 percent of people worldwide and 91 percent in Asia Pacific say they are now using tap-and-go payments. Consumer polling by Mastercard, […]

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Retail Asia06/04/2020

China’s digital payment market grew to $8.4 trillion in the last quarter of 2019 and there are signs of still robust momentum in the months following the outbreak. By transaction volumes, Alipay retained the top rank with 55.1 percent followed by Tencent’s two platforms – WeChatPay and QQ Wallet – at 38.9 percent, according to […]

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Retail Asia23/03/2020

Digital payments in India have risen by 10 percent over the last month, despite a 30-per-cent decline in online travel spending. According to payments platform Razorpay, as human interactions are reducing across the country, consumer payment habits are changing. “For the first time ever, online grocery shopping climbed the ladder with a growth of 9 […]

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Retail Asia13/02/2020

Mastercard’s joint venture in China has been the green light given by the People’s Bank of China for it to begin formal preparations to set up a domestic bankcard clearing institution in China. Mastercard’s joint venture with NetsUnion Clearing will need to complete preparation work within a year, following its approval to begin operations in the […]

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Retail Asia03/02/2020

The e-commerce market in Malaysia is among the fastest-growing in Southeast Asia, with a total transaction value of MYR25.6bn (US$6.2bn) in 2019. This is expected to cross $11 billion in 2023, according to GlobalData. Rising Internet and smartphone penetration, growing middle-class population and increasing tech-savvy millennials, coupled with government initiatives, propelled the e-commerce market value […]

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Retail Asia23/01/2020

A new survey by Alipay and Nielsen has found overseas merchants are actively exploring digital operations via Chinese mobile payments to increase sales and customer traffic. The jointly released survey reveals the latest trends in Chinese outbound tourism and the consumption habits of Chinese travelers for the third consecutive year. The results were demonstrated by nearly […]

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Retail Asia22/01/2020

Despite the dominance of cash, card payments volume in Hong Kong is expected to surpass one billion in 2020, says GlobalData. The convenience of electronic payments, robust payment infrastructure and the emergence of contactless payments are expected to drive the total number of card payments from 642.0 million in 2015 to 1 billion in 2020, […]

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Retail Asia22/01/2020

Singapore is ranked global leader in mobile payment usage among Chinese tourists, fueled by the country’s maturity in mobile payment solutions, according to a joint report by Nielsen and Alipay. The availability of mobile payment is among the top three factors affecting Chinese tourists’ overseas shopping habits. The Southeast Asia region maintains its leadership in mobile payment usage […]

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Retail Asia21/01/2020

7-Eleven Singapore will collect cash payments for transactions initiated via home-grown financial-services company Pay2Home’s digital platform. Pay2Home is one of the growing group of fintech companies creating services for consumers who are unbanked, including hundreds of thousands of migrant workers who send funds back to their families in their home countries. Under the Pay2Home and […]

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Retail Asia21/01/2020

DBS helps further propel Singapore’s cashless movement by introducing quick response code-based payments for the business-to-business segment. The bank hopes to boost payment speeds and is piloting the solution first in the F&B industry – a sector with limited penetration with nine out of 10 payments still being made through cash or bank transfers, according […]

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Retail Asia15/01/2020

Visa will be buying privately held financial technology startup Plaid in a $5.3 billion deal, according to a statement from the payments processor. Visa and rival Mastercard had invested in Plaid in a $250 million series C funding round in 2018 that reportedly valued the firm at $2.65 billion. Visa said it expects the deal […]

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Retail Asia26/12/2019

Tencent partnered with Russian diamond miner ALROSA Group to offer an in-app blockchain-based feature that provides traceability for diamond purchases made through WeChat. WeChat adds a new capability for affluent users to access transparent information about the «origin, characteristics and ownership history» of diamonds purchased through the platform. In addition to ALROSA – which accounts […]

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Retail Asia29/11/2019

Metcash shares have dropped more than 10 percent to a four-month low after 7-Eleven chose not to renew its contract with the wholesale food and beverage supplier when it expires in August. Metcash on Friday said its annual sales to 7-Eleven total about $800 million a year, mostly in lower-margin tobacco products. “Metcash was unable […]

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Retail Asia21/11/2019

Showing a 92% increase year-over-year in the volume of the issued loans in the first nine months in 2019, the company has targeted to hit $ 294 million by the end of the year. Meanwhile, the number of issued loans exceeded 6.5 million. With a preserved strong retention of customers, 75% of that amount has […]

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Retail Asia18/11/2019

Banks in South-east Asia could miss out on as much as $5 billion, or 14.3 percent of their payments revenue by 2025, displaced by the growth of digital payments and competition from non-banks, according to a new report. As payments become more «instant, invisible and free, banks will face further pressure on income from card transactions […]

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Retail Asia12/11/2019

UOB attempts to help businesses accelerate payment collection and improve cash flow through its new QR-based solution. The bank launched the QR solution mCollect which allows businesses to collect payments from buyers through fund transfer service PayNow at the point of delivery. Businesses can provide their customers with a QR code generated by mCollect which can […]

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