Ant CEO Eric Jing Touts Tokenisation Benefits for Cross-border Transactions at FinTech Week
Weekly APAC news up to Wednesday, 30th of October 2024.
👀 NEWS HIGHLIGHT
Network International, a leading enabler of digital commerce in the Middle East and Africa (MEA), and leading global digital payment and financial technology provider Ant International, have signed a Memorandum of Understanding to extend innovative digital payment solutions to businesses in the Middle East and Africa, driving digital transformation and financial inclusion in the region.
📊 INFOGRAPHIC
Peak Season Trends 2024: How consumer behavior shapes the digital economy. This new report by Checkout.com analyzes the shopping patterns at play – and offers valuable insights to help businesses strategize for peak season and beyond. Get the full report here
📰 ARTICLE OF THE WEEK
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ Bitstamp gains EU licence to offer regulated crypto derivatives.
⭐️ Indian FinTech Slice seals bank merger.
⭐️ Hong Kong to strengthen FinTech cooperation with Middle East region.
⭐️ Ant CEO Eric Jing touts tokenisation benefits for cross-border transactions at FinTech Week.
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SINGAPORE 🇸🇬
Tribe Payments expands into APAC with new Singapore office. The move comes as part of Tribe’s strategic expansion into the Asia-Pacific (APAC) region, signalling its ongoing commitment to delivering world-class digital payment solutions across global markets.
Singtel to divest its Dash mobile wallet to Western Union. The deal, recently announced, is pending regulatory approval. In the meantime, existing Dash services remain accessible to customers throughout the process. Read on
CHINA 🇨🇳
Thunes unveils QR code payments solution connecting global financial apps to China's cashless economy. This innovation enables members of Thunes' Direct Global Network, such as mobile wallets, neo-banks, and banks, to connect directly to China's QR code payment systems. Find out more
Tenpay Global & TerraPay to enable international money transfers to more than one billion Weixin and WeChat users. This collaboration allows transfers directly to Weixin Pay users in China, enhancing TerraPay's focus on seamless, secure, and efficient remittance solutions. Read on
SAUDI ARABIA 🇸🇦
HALA Payments has been inducted into the Saudi Unicorns Program as it pursues global expansion and a potential IPO. This recognition highlights HALA's rapid growth, having facilitated over $7 billion in transactions since its founding in 2018.
Mastercard launches local technology infrastructure in Saudi Arabia. This will enable ecommerce transactions processing, offering a seamless and secure payments experience for both Mastercard partners and consumers, while supporting the acceleration of the Kingdom’s digital commerce.
QATAR 🇶🇦
Doha Bank and Nium partner to introduce real-time cross-border payments in Qatar. This collaboration marks Nium's inaugural partnership in Qatar, underscoring its commitment to revolutionizing the landscape of international payments.
QCB offers QPay payment through using 'FAWRAN' payment service. This platform allows merchants to register and accept payment transactions for customer purchases using the system. Read more
INDIA 🇮🇳
Paytm shares dive after FinTech pioneer’s revenue slides 34%. The payments company is trying to rebound from regulatory setbacks, with sales declining amid tough competition in the cut-throat Indian market. Read on
Paytm's shares jump as nod for new UPI users clears key risk. Shares of the Indian FinTech firm jumped nearly 6% on Wednesday after the country's payments regulator allowed the company to sign new users for digital payments via UPI.
UZBEKISTAN 🇺🇿
TBC Uzbekistan announces strategic partnership with Visa. This collaboration paves the way for introducing Visa cards and additional payment solutions through Visa Direct, expanding payment options for TBC’s customers.