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33 stories in this topic
Shein, the prominent quick-fashion retailer, is contemplating reducing the investment cost for some late-stage investors as it seeks an initial public offering (IPO) at a decreased valuation. This information has been revealed through filings at the Hong Kong…
Qualified platform workers and taxi drivers in Singapore are set to receive a cash assistance of S$200 (US$155) to mitigate the impact of increasing fuel prices. To be eligible, platform workers must have earned above S$500 per month from their platform-based…
Hanoi’s local government is currently deliberating a proposition to incentivize motorbike users to switch to electric models. According to the proposal, a subsidy of VND5 million (US$190) will be given to individuals opting to replace their gasoline…
The Australian Federal Government has made significant strides towards safeguarding the validity of cash as a payment mode for everyday necessities by issuing key provisional regulations mandating the acceptance of cash for fuel and groceries. Details of the…
Wholesaler Metcash has appointed Kylie Wallbridge as the new CEO of its liquor division, effective in March. Metcash’s liquor segment includes the Cellarbrations, IGA Liquor, and The Bottle-O brands. Wallbridge will replace John Barakat, who has been the…
As cryptocurrencies were booming, the number of cryptocurrency ATMs grew accordingly. Now that Bitcoin & Co are trading well below last year’s highs, the pace of installations is waning. There are currently around 39,000 cryptocurrency ATMs installed…
In a country where cash has been king for decades, Deutsche Bank will stop allowing customers to pick up cash at its counters. There is a German adage that Geld Stinkt Nicht, which translates into money doesn’t stink, and helps to explain the country’s…
BNP Paribas is exiting its U.S. retail business providing its expansion plans with a financial boost. The French bank is selling its U.S. Bank of the West – for $16.3billion to Bank of Montreal, it said in a statement Monday With the sale proceeds BNP Paribas…
A new study by the payments giant reveals the growing popularity of digital payment methods such as online wallets, mobile contactless payments and QR code payments among Singaporeans. The ongoing Covid-19 pandemic is hastening the demise of cash-based…
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…
The bank said that globally, Singapore has among the highest share of millionaires whose main source of income is their salary, and they prioritize self-enrichment over wealth accumulation. Based on its research that Singapore’s rich are not just focused on…
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…
The share of cash in the overall payment volume within Thailand is expected to decline between 2018 and 2022, according to research firm GlobalData. GlobalData’s report Thailand Cards & Payments: Opportunities and Risks to 2022» reveals that the share of cash…
OCBC Bank customers only need to scan a QR code on the OCBC Pay Anyone app to make withdrawals. OCBC customers can now make withdrawals without a bank card by generating a QR code from its mobile banking app, which can be scanned at any of its 655 Automatic…
Vingroup’s loyalty program VinID has acquired digital wallet app MonPay, a central bank source says. The takeover procedures have been completed but did not disclose its form and value. Earlier this week, a new feature called “My Wallet” has appeared on the…
A Singapore fintech turns brick-and-mortar shops into alternative ATMs, potentially saving banks millions of dollars in maintaining their cash logistics. Banks can now tap on SoCash’s apps and existing brick and mortar point-of-sales to save on the huge costs…
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