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
Mastercard, a leading company in payment technology, has announced the launch of Mastercard Pay Local, a product designed to enhance cross-border payments by integrating with local digital wallets. This initiative, introduced just before the Singapore FinTech Festival, addresses the increasing demand for a seamless payment experience for both local residents and international travelers. With Mastercard Pay Local, cardholders can instantly
Keppel Ltd., through its private fund Keppel Data Centre Fund II (KDCF II), has made a significant move to bolster its presence in the Asian data center market by acquiring a data center development project in Tokyo, Japan. This facility, known as Keppel Data Centre Tokyo 2, marks Keppel’s first foray into developing such projects in Japan, and it stands
The state of global insurtech funding by the end of the third quarter of 2024 reveals a nuanced picture of growth, challenges, and opportunities in the insurance technology landscape. Insurtech, which refers to employing innovative technology to enhance and disrupt traditional insurance services, has been a focal point for investment and development. By the end of Q3 2024, the sector
In a notable achievement that underscores the growing importance of digital finance in Southeast Asia, Funding Societies has secured an impressive credit facility surpassing $100 million from HSBC’s ASEAN Growth Fund. This marks the third consecutive credit line extended by HSBC since 2022, reflecting a sustained commitment to supporting digital finance platforms addressing the needs of micro, small, and medium
MeaWallet, a renowned leader in digital payments specializing in card tokenization, has recently introduced innovative features to support Click to Pay, an online payment method designed to offer a seamless, secure, and faster online shopping experience. This development is set to elevate convenience for both consumers and merchants by enhancing the checkout process. Click to Pay functions similarly to contactless
The 2024 Chargeback Field Report, released by Chargebacks911 alongside Edgar, Dunn & Company, reveals a concerning trend affecting businesses both large and small: over the past three years, 72% of merchants have experienced an increase in chargebacks, predominantly due to first-party misuse, commonly referred to as “friendly fraud.” As businesses grapple with this surge, many are resorting to raising prices
PowerPay, a US-based digital lender known for its innovative digital point-of-sale lending solutions and established in 2017, has recently secured a $60 million corporate bond exclusively facilitated by KeyBank. With over $8 billion in consumer loans processed to date, PowerPay specializes in home improvement, healthcare, and solar finance lending solutions. This substantial investment aims to enhance the company’s operational capabilities,
A growing shift in consumer preferences has been identified, with an increasing number of individuals demanding more personalized benefits and rewards from their credit card providers. Notably, over half of the UK’s respondents reported relying on their credit cards to manage their finances. However, a significant proportion of these credit cards do not offer any rewards or loyalty benefits, prompting
OpenOrigins, a startup focused on enhancing trust in digital media, has secured $4.5 million in seed funding to expand its use of blockchain technology to combat AI deepfakes. The investment round was led by Galaxy Interactive and Galaxy Ventures, with additional support from Unbound, helmed by Shravin Bharti Mittal. OpenOrigins aims to certify the authenticity of digital content through a
Deutsche Telekom and Bankhaus Metzler have embarked on a bold pilot project to convert surplus renewable energy into Bitcoin mining, a venture aimed at enhancing energy grid stability and driving financial innovation. In an era where the balance between energy production and consumption becomes increasingly critical, this initiative offers a pioneering solution. Hosted at Riva GmbH Engineering in Backnang, the
Melio, an accounts payable and receivable platform catering to small and medium businesses (SMBs), has secured $150 million in a strategic Series E funding round led by Fiserv, with participation from Shopify Ventures and Capital One Ventures. This significant investment has propelled Melio’s valuation to an impressive $2 billion. Over the past three years, Melio has seen a dramatic ten-fold
