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According to The State of Digital Retail Payments in Asia Pacific 2024 by Forrester , high-growth economies like Indonesia and Malaysia are leading the shift, with consumers increasingly favouring digitalpayments. Singapores Fluid DigitalPayment Landscape Singapores digital wallet scene presents an interesting mix.
The digital revolution in Southeast Asia (SEA) is transforming consumer behaviour, with the region’s digital economy projected to hit US$1 trillion by 2030. Digitalpayments are at the heart of this growth, offering consumers convenience, reliability, and efficiency.
MiFinity , a trusted global eWallet provider serving merchants and consumers worldwide, is deepening its presence in Asia with additional local payment options. For merchants looking to expand into these high-growth markets, offering trusted, localised payment options is essential to attracting and retaining customers.
Now, it is working with Visa on the SiriusXM eWallet, designed to integrate into a vehicle’s dashboard to allow drivers and passengers to complete purchases for everyday tasks while on the go. Teaming up with SiriusXM is a big step forward in Visa’s quest for connected commerce across the automotive ecosystem.
As it aims to drive the digital economy in Malaysia, the GrabPay eWallet has been chosen to take part in the e-Tunai Rakyat initiative that will roll out in mid-January. The initiative is an effort to encourage eWallet usage.
-based global online payments provider Payza is streamlining the process for consumers who transact with bitcoin by making the cryptocurrency directly accessible within its eWallet.
Users of participating payment partners, including Alipay, AlipayHK, GCash, Kakao Pay , Toss Pay, Touch ‘n Go eWallet, and TrueMoney, will be offered an exclusive 10% discount (up to a maximum of JPY 1,000, CNY 50). Tinaba will also provide a 10% cashback promotion (up to a maximum of EUR 20).
From digitalpayments to decentralised finance (DeFi), these companies are solving real-world challenges like financial inclusion and cross-border transactions, while setting new global standards for innovation. It enables payments, payroll disbursement, and marketplace operations. billion UPI-based payment platform BillDesk 1.59
2) Travelers spend more, with a shift toward localized experiences Alipay+ payment partners include top payment apps from across Asia, such as Alipay (Chinese mainland), AlipayHK (Hong Kong SAR), Touch ‘n Go eWallet (Malaysia), GCash (the Philippines), KakaoPay, Toss Pay and Naver Pay (South Korea), OCBC (Singapore), TrueMoney (Thailand) and more.
The government is hoping to up the number of digitalpayment users to 15 million people. We want to double that to 15 million, if possible 16 million, so that nearly every Malaysian above 18 years will be on digitalpayment,” finance minister Lim Guan Eng said. Digitalpayments are expected to surge by 10.8
LankaPay – Sri Lankas National Payment Network – announced their partnership with Ant International , a leading global digitalpayment, digitisation and financial technology provider, to launch Alipay+ acceptance in Sri Lanka at a press conference held on 25 th March 2025 at the Shangri-La Hotel, Colombo.
Therefore, we shouldn’t replace the last-mile access that banks and eWallets provide, but rather partner with them. And when the banks and eWallets approached us two years ago and asked if we can provide them with a SWIFT alternative solution, we immediately said ‘yes’ and started working on a solution.”.
The CEO of PT Mandiri Capital Indonesia, the venture capital arm of PT Bank Mandiri, said the only way digitalpayment platforms can ever make money is by acting as a sort of portal into other services, otherwise it’s “just a cash-burning exercise,” according to reports.
Alipay+ has expanded its digitalpayment offerings in Singapore by integrating six additional international e-wallets, increasing the total to twelve. This initiative is part of Alipay+’s broader strategy to facilitate cross-border payments and enhance the digitalpayment landscape in Singapore.
This move adds to the existing acceptance of Alipay (Chinese mainland) since 2015, and AlipayHK (Hong Kong SAR, China), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia) since 2023.
The State Bank of Vietnam granted FinTech startup GPay a 10-year license to provide intermediary payment services in the country — electronic payment portals, payment services, digital money transfer services and eWallet services.
bank, has started beta testing of its PayMe System, a digitalpayment system for businesses. They can now accept payments from customers that use HSBC’s eWallet. In the early part of 2017, HSBC announced the new payment app, geared toward millennials in Hong Kong who also wanted social media built in.
European merchants and partners embraced new digitalpayment trends with remarkable openness and agility. In Jeju, users of Alipay+ partners, including Alipay, AlipayHK, GCash, Touch ’n Go eWallet and TrueMoney, can simply use their own payment apps to pay for bus rides.
Visa and Mastercard each made headlines in the payments infrastructure and cross-border realms, eyeing digitalpayments and B2B payments. As reported earlier in the week, Visa launched B2B Connect , a network focused on enabling financial institutions (FIs) to help their clients make B2B payments across borders.
Antony Cahill , managing director for Visa's European operation, said that proved that digital transactions have become a necessity rather than just another option. Together we are enabling issuing banks to offer smarter and simplified digitalpayment services to their customers in Europe and beyond.
“AlipayHK expects that mobile payment services are geared to extensive and in-depth applications and development through the latest cooperation with McDonald’s Hong Kong,” she noted. Currently, Alipay customers can use the eWallets to make payments in nearly 10,000 restaurants.”.
Through this expansion, we expect to provide a high-quality payment experience for both Korean users and Hong Kong merchants,” said Won-Keun Shin, CEO of Kakao Pay, South Korea. “We We have been cooperating with Alipay+ to ensure that digitalpayments take root around the world and will continue innovation together,” said Shin.
As Chinese inbound tourism gains momentum with the extension of its visa-free policy to more countries and the recovery of international flights, Alipay , the leading digitalpayment and lifestyle platform in China, now supports 16 languages on its App, further enhancing the travel experience of international tourists exploring China.
Ant International , the Asia-based one-stop digitalpayment and financial services platform for SMEs, is kicking off a global campaign to engage with fans globally in the lead-up to UEFA EURO 2024 , of which it is an official partner.
percent fee for some eWallet transactions, the sources said, which would end up costing smaller merchants more than they currently pay. Currently, eWallet companies currently don’t have to share any portion of the transaction fees with lenders. This will hurt all of us,” an executive at an Indonesian eWallet firm told Reuters.
M-Money’s impact has drawn comparisons to Kenya’s M-Pesa and the Philippines’ GCash, earning it recognition as the ‘Fastest Growing Mobile eWallet 2023’ by International Finance Magazine and a bronze award for Digital Inclusivity at the ASEAN Digital Ministers Meeting earlier this year.
Travelers are also rewarded for using more digitalpayments instead of cash, choosing public transportations over cars, travelling with own toothbrushes instead of using disposable ones, as well as visiting more diverse local destinations to support communities’ economies and preserving local cultures.
In Malaysia, for example, the government has set aside the equivalent of $108 million USD to spur small businesses and retailers to accept digitalpayments — and gave millions of individuals one-off incentives to spend via digital wallets.
AlipayHK said it has partnered with many different merchants and restaurants to give customers digital coupons. “It It is an unrivaled convenience and unparalleled experience for AlipayHK customers to use the eWallets integrated in McDonald’s App for placing orders,” the company said.
Lloyd’s of London , the insurance firm, is supporting a new policy that protects digital currency held in digital wallets from hackers, Coindesk reported on Monday (March 2). The policy is reportedly a new insurance type that has a limit that changes with the price fluctuations of covered digital currency assets.
Digitalpayments platform Payoneer is working to expand its services globally with the launch of its new Payoneer for Banks, which will aim to let more financial institutions aid businesses with cross-border payments, according to a Tuesday (Sept. 8) press release.
In other Malaysian eCommerce news, the GrabPay eWallet has been chosen to take part in the e-Tunai Rakyat initiative that will roll out in mid-January, in an effort to push the digital economy forward in the country. BizApp has more than 200,000 agents who gross more than 600 million ringgit in merchandise volume.
He added, too, that merchants seeking entrance into Russia must localize their websites, and they should strive to capture all payment methods — not just cards, especially as 25 to 30 percent of payments are conducted through local eWallets.
By allowing international visitors to use familiar payment apps, the move aims to boost convenience for travellers while creating more business opportunities for local merchants. LANKAQR, launched in 2020, is managed by LankaPay and provides a unified digitalpayments platform across banks and merchants in the country.
Ant International has already provided Alipay+ wallet partners in Asia, including AlipayHK (Hong Kong SAR, China), Dana (Indonesia), Livin’ by Mandiri (Indonesia), Touch ’n Go eWallet (Malaysia), and GCash (The Philippines), with the infrastructure to leverage the Alipay+ Mini Program solution.
Micro-mobility giant Helbiz announced a partnership with mobile payments platform Alipay , which will allow customers a wider breadth of access to Helbiz’s eScooters, eBikes and other devices for easy riding through Italy. About 20 percent of payments are projected to be made with eWallets by next year.
Also, in line with new digital developments, Mastercard has expanded its Digital-First Card Program to add new guidelines to help ensure secure transactions with instant access to card information.
Go-Pay, the digitalpayment unit of Southeast Asian ride-hailing company Go-Jek , plans to strengthen its position in the digitalpayments market as growth in Indonesia explodes. He noted that Go-Pay is the leader in Indonesia in the eWallet industry currently. State-owned enterprises have also entered the fray.
VinID Joint Stock Company, which is 80 percent owned by Vingroup, recently acquired ewallet company MonPay. NextPay’s main focus is on offline payments. Vietnam is particularly suited for the proliferation of contactless payment and other digitalpayment startups, as about 70 percent of the population uses smartphones.
The 20,000-thousand-mile view of all the eWallets is that they are trying to be the force that displaces cash in the marketplace,” Prideaux said. But that was just their foot in the commerce door, he noted – both services quickly expanded their digitalpayment method beyond the confines of the digital world.
Australias digitalpayments and e-commerce market is experiencing an unprecedented boom. This transformation presents exciting opportunities for businesses looking to expand their digital presence. According to the latest Mordor Intelligence report , Australias payments market size is presently valued at $1.07
Paytm users will face new 2 percent fees for using the credit card attached to their eWallets, a report from Business Today says. Before now, users had to pay the 2 percent fee only if they loaded over Rs 10,000 on their eWallets from a credit card every month.
GPS's technology helps brands by allowing them to provide customized experiences put squarely in the cardholders' hands, the release says, having previously supported FinTechs, digital banks, and eWallets on their various journeys. Last year, GPS partnered with the U.K.
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