Payments, fintech and the money moves powering Asia's retail economy.
State-owned PT Bank Negara Indonesia (BNI) will be launching Indonesia-Hong Kong Worker Card (KPIH), a multi-function card for Indonesian employees in Hong Kong. The Bank had previously launched Indonesia-Singapore Worker Card (KPIS) in November 2016. The…
Bitcoin, a cryptocurrency that uses cryptography to make transactions anonymous, has penetrated deeper into the Indonesian market even though there is currently no legal umbrella for the currency’s use in the country. Bitcoin Indonesia currently has 250,000…
Cash remains the primary payment method in many parts of Southeast Asia. In Myanmar, competition to provide cash services is intense. Vikram Kumar, country manager for Myanmar at the International Finance Corporation, the private arm of the World Bank Group,…
Cash as a mode of payment has declined in the country by 2 per cent in the past six years, from 14.02 per cent in 2010 to the current 12 per cent. As per the State Bank of Việt Nam’s report released this week, the country currently has around 67.4 million…
Nguyễn Thanh Trúc in District 1 has just paid her monthly electricity bills via internet banking. “I have used the service for more than one year. This is a very convenient service and helps me save time from going to electricity bill collection points,” she…
American sporting goods giant Nike has opened its first dedicated retail store in Cambodia in what observers have described as another sign the Kingdom’s strong economy and rising incomes had not gone unnoticed by international retail giants. The opening of…
Hong Kong based FinTech service provider Credit China FinTech Holdings has signed on as a founding member of the new Global Blockchain Business Council (GBBC). The GBBC was established by bitcoin mining company Bitfury and international law firm Covington at…
Leading Myanmar retail bank rolling out cardless cash withdrawal and P2P payment services with advanced technology from Diebold Nixdorf. Co-Operative Bank Limited (CB Bank) in Myanmar has awarded Diebold Nixdorf an extensive contract for systems, software and…
Standard Chartered Bank (Hong Kong) Limited (SCBHK) announces the appointment of May Tan as the Bank’s Chief Executive Officer for Hong Kong, with effect from 1 July 2014. May joined SCBHK in January 2009 as Global Head, Equity Corporate Finance and also as a…
Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) announced it successfully issued non-convertible five-year bonds worth VNĐ2 trillion (US$88.1 million) at annual interest rate of 5.8 per cent. Compared with the interest rates of other…
In a game-changing move, DBS Bank today unveiled its plans to help customers save on their overseas spending by avoiding high foreign exchange (FX) and conversion fees. Starting today, customers with a DBS Visa Debit Card linked to a DBS Multi-Currency…
The Bangko Sentral ng Pilipinas (BSP) has relaxed rules governing service channels for banks and deposit taking activities outside bank premises. BSP Deputy Governor Nestor Espenilla Jr. said in a chance interview the changes would allow banks to expand their…
Mintel reports that in 2017, brands will be looking for innovative ways to use data to proactively assist consumers in all aspects of the sales journey to optimise customer service. The trio hopes that by adopting the innovative concept and technology, it…
Bank Indonesia (BI) has kept its 7-days reverse repo rate at 4.75 percent. Other monetary benchmark rates such as deposit facility rate and lending facility rate have also been kept at 4 and 5.5 percent. “The decision was made by BI to preserve domestic…
Greenpeace International launched a new report on Tuesday, January 17, 2017, accusing British HSBC of supporting deforestation. The report stated that British HSBC provided financial services to palm oil companies that are causing rainforest destruction and…
The regulations require foreign banks to buy more than one bank, and that the targets must not be strong institutions. KBank president Pipit Aneaknithi said yesterday that the bank currently had partnerships with two banks in Indonesia, and was prepared in…
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Read by retail operators, investors and brand teams across Asia.