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Data from fintech platform Kiwi shows instant delivery apps take 2.6 per cent of young consumers’ wallets compared to 0.85 per cent spent at supermarket chains like D-Mart.
Rapid digital payment adoption and mobile shopping pushed Asia-Pacific ahead of North America and Europe as global online retail expands toward 2035.
Regular marketplace sellers pay commissions between 1 and 2 per cent while Shopee Mall brand rates reach 6 per cent.
China has expanded its digital yuan infrastructure by integrating eight additional banks into the national network. This move aims to significantly accelerate the adoption of the central bank digital currency, known as the e-CNY, across the country.
Digital payment methods now account for 64.7 percent of all retail transactions by volume in the Philippines, according to the Bangko Sentral ng Pilipinas. This marks a substantial increase from previous years and exceeds central bank targets.
Australian authorities will revamp the regulatory landscape for digital payments, broadening its remit on online transaction providers, cryptocurrency exchanges, and the possible creation of a central bank digital currency. On crypto exchanges, Australia will…
Digital payment and digital banking solution provider Fomo Pay has opened an office in Kuala Lumpur, Malaysia and has partnered OCBC Bank on a cross-border funds collection service. Fomo Pay has made its first overseas foray into Malaysia, and has partnered…
China’s digital payment market grew to $8.4 trillion in the last quarter of 2019 and there are signs of still robust momentum in the months following the outbreak. By transaction volumes, Alipay retained the top rank with 55.1 percent followed by Tencent’s…
Technology has made financial services more accessible to users in the region, and it is projected to expand further to reach 100 million Southeast Asians with limited access to financial services today, according to a report published by Google and partners.…
Alipay and WeChat Pay enabled $2.9 trillion in Chinese digital payments in 2016, up twenty-fold increase in the past four years, according to a new UN study. The data show that digital payments, using existing platforms and networks, provide access to a wider…
The APAC FinTech landscape is witnessing unprecedented growth, with FinTech solutions and services expected to gross more than $70 billion in revenue by 2020. Market research firm Frost & Sullivan believes the market is on track to record a CAGR of 72.5% over…
An extra layer of security for mobile and digital payments has been introduced by Singapore’s United Overseas Bank (UOB) and Australia’s National Australia Bank (NAB). As well as making transactions safer, the new Visa Token Service also makes instore…
Evergreen guides that explain the mechanics behind this topic.
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