Mastercard Enhances Payments with New Pay Local Digital Wallet Service

Mastercard has launched a new service called Mastercard Pay Local with the aim of improving the convenience of payments through local digital wallets. This initiative allows both resident cardholders and international travelers to link their credit and debit cards directly to digital wallets without requiring a prepaid account setup, thus enabling immediate spending. The Asia Pacific (APAC) region stands to benefit significantly, with over 35 million merchants accepting digital wallets like DANA in Indonesia, Touch ‘n Go in Malaysia, Bakong in Cambodia, and LankaPay in Sri Lanka.

The Pay Local service is particularly beneficial to micro, small, and medium enterprises (MSMEs), which have traditionally not accepted card payments. By facilitating card payments through digital wallets, these businesses can now offer a more convenient and modern payment option to their customers. Additionally, the service makes travel easier for tourists, who can use their cards seamlessly across various destinations without the hassle of dealing with multiple foreign currencies. This added convenience is expected to boost local economies by encouraging more spending from both residents and international visitors.

Sandeep Malhotra, Mastercard Asia Pacific’s executive vice president of products and innovation, emphasized that Pay Local extends Mastercard’s global network to partner wallets. This extension provides a low-cost, stable, and secure connection between merchants and Mastercard cardholders. For locals, the new service translates to greater flexibility in payment options, while tourists benefit from simplified transactions. Overall, Pay Local is set to significantly enhance the convenience and efficiency of digital payments across the markets in the APAC region, elevating the payment experience for both consumers and merchants alike.

Explore more

Data Centers Tap Unused Renewable Energy for AI Demand

The rapid growth in demand for artificial intelligence and cryptocurrency services has led to an energy consumption surge worldwide, particularly from data centers. These digital powerhouses require increasingly large amounts of electricity to maintain operations and ensure optimal performance. As renewable energy production rises, specifically from wind and solar sources, a significant portion goes untapped due to constraints within the

Groq Expands in Europe With Helsinki AI Data Center Launch

In an era dominated by artificial intelligence, Groq Inc., hailed as a pioneer in AI semiconductors, has made a bold leap by establishing its inaugural European data center in Helsinki, Finland. Partnering with Equinix, this strategic step signals not only Groq’s ambitious vision for global expansion but also taps into Europe’s rising demand for innovative AI solutions. The location, favoring

Will Tokenized Bonds Transform Payroll and SME Financing?

The current financial environment is witnessing an extraordinary shift as tokenized bonds begin to redefine payroll processes and small and medium enterprise (SME) financing. Utilizing blockchain technology, these digital versions of bonds promise enhanced transparency, quicker transactions, and streamlined operations. As financial innovation unfolds, the integration of tokenized bonds presents a remarkable opportunity for businesses to modernize their remuneration methods

Trend Analysis: Cryptocurrency Payroll Integration

The Rise of Cryptocurrency in Payroll Systems Understanding the Market Dynamics Recent data reveals an intriguing trend: a growing number of organizations are integrating cryptocurrencies into their payroll systems. Reports underscore unprecedented interest and adoption rates in this domain. For instance, FLOKI’s bullish market dynamics highlight how cryptocurrencies are capturing attention in payroll implementations. Experiencing a significant upsurge in its

Integrated Payroll Solution Enhances Compliance for Aussie Firms

Rapidly shifting regulatory landscapes continue to challenge businesses globally, and Australia is no exception. The introduction of the new PayDay Super laws in Australia, effective from July 2026, represents a significant change in the payroll and superannuation landscape. These laws criminalize non-compliance, specifically targeting failures in the simultaneous payment of superannuation contributions and wages. This formidable compliance burden necessitates innovation,