AFFIN BANK Partners With ACI Worldwide To Modernise Payments For Malaysian Businesses
Weekly news up to Wednesday, 17th of July 2024
👀 NEWS HIGHLIGHT
XTransfer, the World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, is pleased to announce that it has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution License (MPI). This license will allow XTransfer to provide services including account issuance, domestic money transfer, cross-border money transfer, and e-money issuance.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ Visa rolls out of BNPL-specific credentials, launches “VIC in a Box” with three partners.
⭐️ India's Paytm gets warning from markets regulator for old transactions with banking unit.
⭐️ ixigo & AU Bank Launch RuPay Travel Credit Card.
⭐️ Temasek-backed Partior raises over $60m in series B funding.
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AUSTRALIA 🇦🇺
GoCardless, the bank payment company, has announced a strategic partnership with insurance software platform ICE InsureTech, to deliver faster and seamless automated payment collection for insurance companies in Australia and New Zealand.
SINGAPORE 🇸🇬
Fave Singapore Gets In-Principle Approval for Payments License. This approval allows Fave to offer account issuance, merchant acquisition, and domestic money transfer services.
MALAYSIA 🇲🇾
AFFIN BANK Partners With ACI Worldwide to Modernise Payments for Malaysian Businesses. The new enterprise payments platform is designed to streamline and enhance the efficiency of payment processes for enterprises, offering a centralised system that consolidates all payment instructions from various channels.
INDIA 🇮🇳
India's Paytm gets government panel nod to invest in payments arm. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations.
PHILIPPINES 🇵🇭
Netbank partners with DragonPay. This new solution enables Dragonpay to offer its clients enhanced collection capabilities, leveraging virtual accounts to simplify the reconciliation process, improve transaction accuracy, and reduce operational costs.
Sumsub, a global verification provider, has announced strategic partnerships with several resellers in Southeast Asia including Nexus Technologies in the Philippines, PT Secure Pasifik Teknologi in Indonesia, and Spectrum Edge in Malaysia.
PAKISTAN 🇵🇰
Paysys Labs Partners with Raqami Islamic Digital Bank Pakistan to Revolutionize Digital Payments in Pakistan. The collaboration aims to develop an innovative digital payment solution integrating real-time payment systems such as RAAST.