Armed w/Expanded Funding InstaReM Heads to Europe and the U.S.

A Singapore-headquartered cross-border payments company has exploded on the payments scene. InstaReM has received a $13 million investment led by GSR Ventures, with participation from SBI-FMO Emerging Asia Financial Sector Fund, Vertex Ventures, Fullerton Financial Holdings, and Global Founders Capital. To date, InstaReM has raised over US$18 million in the last 18 months. InstaReM will…

Asian SMBs Targeted for SaaS via the Visa Business Hub in Singapore

Deskera, a specialist in Software as a Service, has inked a partnership with Visa, to provide SaaS to Small and Medium Businesses (SMBs) through the Visa Business Hub (VHB) in Singapore. The VHB, launched earlier this year, is a one-stop portal that delivers tangible value to business customers in Asia. The Deskera and Visa collaboration…

JCB Merchant Acquiring Comes to Singapore via CIMB Bank and Wirecard

CIMB Bank Singapore and Wirecard have inked a License Agreement to begin JCB merchant acquiring services in Singapore. Through the partnership, JCB card acceptance facilities will be available at CIMB merchants. Having established similar collaborations in Malaysia and Indonesia, this new License Agreement extends the collaboration into other parts of Southeast Asia and enhances cooperation…

TransferTo Ankles Key Exec to Lead East African Expansion

Singapore-based TransferTo has ankled Sandra Hua Yao to lead its business operations in East Africa as Vice President, Business Development. The appointment is part of the company’s continued geographic expansion to support its global strategy and grow in emerging markets. Sandra Hua Yao joins TransferTo from the National Bank of Kenya where she led the…

Dragonfly Captures Malaysian Money Remittance Market

Singapore-based Dragonfly Fintech (DF), inked a deal to power the Malaysian Metro Money Exchange. The remittance market in Malaysia is about $10 billion annually. The payment and settlement solution will be implemented in partnership with BC Fintech, a Dragonfly system integrator. The solution will drive the entire remittance chain, from wholesale foreign exchange to the receipt…

DBS of Singapore Issuing the UnionPay Platinum Debit Card

DBS of Singapore Issuing the UnionPay Platinum Debit Card

China’s UnionPay International cooperates with Development Bank of Singapore (DBS) in issuing the UnionPay platinum debit card. It is not only the first UnionPay card issued by the largest commercial bank in Singapore, but also the first UnionPay card with functions of UnionPay QuickPass, online payment and local transportation payment issued in the market. DBS,…

MasterCard Integrated Launched in A-P Region

MasterCard Integrated Launched in A-P Region

MasterCard rolls-out new platform to enhance processing capabilities across Asia Pacific’s payments ecosystem. The new MasterCard Integrated is the payments processing services platform that powers MasterCard Payment Transaction Services. MasterCard will now offer fully-integrated hosted processing services, supporting all payment brands.  This further expands the role of MasterCard during the payments process, extending beyond its…

Wirecard Issues First Visa Prepaid Cards in Singapore

Wirecard Issues First Visa Prepaid Cards in Singapore

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wirecard Singapore has been approved as a Principal Member of Visa as the first non-Financial Institution members in Singapore. This move is a continuation of Wirecard’s strategic partnership with Visa Inc. in Asia Pacific to enable easier access to prepaid card issuing for parties across the ecosystem, following the acquisition of…

Asia Pacific Still Rules Visa International Regions

Asia Pacific Still Rules Visa International Regions

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s Asia Pacific (AP) region Purchase Dollar Volume (PDV) growth edged down a bit year-on-year (YOY) to 15.7%, on a currency adjusted basis (FX) in the fourth quarter (4Q/15) to US$387 billion, compared to a 10.8% YOY growth rate in 4Q/14. 
Based on PDV, the AP region is fastest growing region…