JCB To Offer Google Pay In Japan
Weekly news up to Wednesday, 9th of October 2024
👀 NEWS HIGHLIGHT
JCB Japan’s international payment brand, has announced that it has enabled Google Pay for its customers on September 6 2024.
Android smartphone users can now use Google Pay in stores where JCB Contactless is accepted, by adding their credit/debit cards issued by the JCB Group in Japan to Google Pay.
📰 ARTICLE OF THE WEEK
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ Paytm focusing on consumer payments business: CEO Vijay Shekhar Sharma.
⭐️ Lockton launches digital insurance platform for SMEs in Australia.
⭐️ Ben Wong to Lead Adyen’s Southeast Asia and Hong Kong Commercial Operations.
⭐️ Meta expands threat intelligence sharing programme with NatWest and Metro Bank.
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AUSTRALIA 🇦🇺
Airwallex explores building AI models as it drives towards IPO. Airwallex’s global head of product, Shannon Scott, said in an interview that while excitement over generative artificial intelligence can sometimes be exuberant, the technology holds potential for improving automation, compliance and other aspects of its payments platform.
SINGAPORE 🇸🇬
ANZ joins MAS-led asset tokenisation project. The Australian bank, in partnership with Chainlink Labs and ADDX, will investigate interoperability between private blockchains to exchange tokenised real-world assets, such as commercial paper.
Singapore Gulf Bank (SGB), an upcoming digital bank, has appointed Ali AlShamma as Chief Financial Officer and Elaine Leong as Chief Operating Officer. These appointments come as SGB prepares to launch in November 2024. AlShamma brings extensive experience from his roles as CFO at Goldman Sachs Saudi Arabia and Citigroup Saudi Arabia, while Leong joins SGB from Sygnum and GIC.
HONG KONG 🇭🇰
HK’s Bank of East Asia tests stablecoin issuance using UDPN. The UDPN is a multi-faceted project supporting the issuance of stablecoins and tokenized deposits, as well as providing an interoperability layer between different digital currencies, including central bank digital currencies (CBDCs).
Worldline partners with BOCHK to launch open platform card solution in Hong Kong. BOCHK will leverage Worldline’s innovative cloud-native application to further enhance customer experience and expand customer offering with its new Mastercard multi-currency debit card.
THAILAND 🇹🇭
SCB taps Thunes to offer instant global money transfers. This collaboration will allow SCB customers to send money instantly to 26 countries in 17 currencies, offering increased transparency and reliability while providing fast, dependable international transfers and reducing costs.
INDIA 🇮🇳
Payoneer and Tech Mahindra collaborate to advance global crowdsourcing payments. This collaboration aims to optimize payment capabilities for Tech Mahindra’s innovative crowdsourcing platform, Populii, revolutionizing how businesses engage with the global crowdsourcing industry and manage financial transactions.
Google taps India’s love for gold to boost its credit play. Google is tapping into India's strong affinity for gold to expand its lending market presence. The company announced a partnership with Muthoot Finance, India's largest gold-backed loan provider, to offer secured loans to users across the country.
INDONESIA 🇮🇩
Jakarta-based InsurTech Rey secures $3.5m funding round as it seeks to expand its AI-powered health insurance platform. The startup plans to use the $3.5m to enhance its AI tools for claims processing and underwriting. Read on
ARAB EMIRATES 🇦🇪
Magnati and Wio Bank partner to support businesses with embedded finance solutions. This partnership enables Wio Bank to expand access to support business growth by providing fast access to financing using Magnati’s platform, simplifying cash flow management and credit access.
Ripple becomes first blockchain business licensed by Dubai’s DFSA. Through this license, Ripple aims to expand its payments service from the Dubai International Financial Centre (DIFC) into other parts of the United Arab Emirates (UAE) while enhancing its operations in the Middle East.
JAPAN 🇯🇵
Mizuho to invest in Rakuten Card, Rakuten to cancel FinTech reorganization. The firms have agreed to consider a new strategic capital and business alliance between them. To accelerate the growth of Rakuten Card, Rakuten aims to strengthen its collaboration with Mizuho FG. This partnership will enable growth in both the consumer and expanding corporate sectors.
MOVERS & SHAKERS
Maybank Singapore names Datuk Yee Yang Chien as new Chairman. Datuk Yee’s expertise is expected to support Maybank Singapore’s growth, with a focus on sustainable development and innovation. More on that here