When was the last time you made a complicated purchase? For me, it was when I was looking to buy a new TV and went down a rabbit hole of OLED, LED, Mini-LEDs and countless hours of reading user reviews, then comparing prices between retailers. What if there’s a better way? This week, Google made its biggest play yet to convince you there is. At Google I/O 2026 on 19 May, Sundar Pichai unveiled what is effectively an end-to-end agentic shopping stack built on every consumer surface Google already owns. Universal Cart, a cross-merchant shopping cart that follows you across Search, Gemini, YouTube and Gmail. The Agent Payments Protocol (AP2), which lets AI agents complete purchases on your behalf within preset spending and brand limits. The Shopping Graph underneath it, indexing more than 60 billion product listings. And to close the loop on payments, Affirm and Klarna’s buy-now-pay-later integrated directly into Google Pay. @google Universal Cart is your new hub for shopping on Google #GoogleIO ♬ original sound – Google The merchant list is just as telling. Universal Commerce Protocol partners now include Amazon, Walmart, Shopify, Nike, Sephora and Target, with checkout rolling out next in Canada and Australia, followed by the UK. Put it all together and what you get is a single company that owns discovery, conversation, video, email, the cart, the protocol the merchants plug into, the agent that does the shopping, and the wallet that pays for it. That’s a vertically integrated agentic commerce stack, well past the experimentation phase. For all the noise around Google’s announcement, the right way to read it is as confirmation. Agentic commerce has been quietly building across the industry for more than a year, and Google has now formally caught up to where the conversation already is. Agentic Commerce is Bigger Than Google In APAC alone, Visa launched its Agentic Ready programme across 10 markets with more than 50 partners at the end of April. Thirteen of those partners are in Singapore, seven in Hong Kong, and three in Malaysia, with the rest spread across Australia, Japan, South Korea, Taiwan, Thailand, New Zealand and Vietnam. Visa Agentic Ready is, at its simplest, a programme for banks to test what happens when an AI agent, not a human, is the one making the payment, with live cards and real merchants in the loop. Which means agent-initiated payments stop being a one-bank pilot and become a collective push, rapidly speeding up adoption. Mastercard, Stripe and OpenAI have all made their own moves in this space. McKinsey now forecasts agentic commerce could generate US$3 trillion to US$5 trillion in revenue globally by 2030. Zac Cohen, Chief Product Officer at Trulioo, perhaps put it best during our interview: “The laggards aren’t only going to lose potential revenue opportunities, but they might be disintermediated completely. And so now is really the time to pay attention to understand and ensure that you’re ready for the shift that’s happened.” What’s the Missing Piece of the Puzzle? Trust. Every wave of digital innovation has lived or died by it. Agentic commerce is no different, except this time the question itself has changed. We’re no longer asking who is behind a transaction. We’re asking what. This necessitates an evolution from KYC/KYB to KYA (Know-Your-Agent). Trulioo, a global digital identity company, is one of the few players in the space thinking deeply about this area. My conversation here with Zac is worth a listen if you have 10 minutes to spare. Working on the same problem from another angle is Fime, a France-based payments testing and certification firm with more than 20 years of experience in the space. Our writer Izzat Najmi Abdullah recently sat down with their CEO, Lionel Grosclaude. That video isn’t out yet, but a few of his talking points are worth flagging here because they fit neatly alongside Zac’s. (Subscribe to our YouTube channel to get notified when it’s out.) His framing was that a one-time check of an AI agent is like checking IDs at the door of a nightclub. It may prove the agent was acceptable at the point of entry, but it does not tell you whether it will continue behaving properly once inside. Fime’s FACT (Framework for Agentic Commerce Trust) is designed to monitor each transaction and check whether what the agent is buying remains consistent with the consumer’s original intent, rather than relying only on one check at the start. So Where Does Southeast Asia Sit in All This? Here’s the part of the Google announcement worth chewing on if you’re sitting in this part of the world. Universal Commerce Protocol-powered checkout rolls out next in Canada and Australia. After that, the UK. Nowhere in ASEAN is on Google’s near-term map. That mismatch gets sharper when you look at how ready the consumer base actually is. A NIQ survey published with Bain in late 2025 found that 39 percent of Asia-Pacific consumers already use generative AI in online shopping, with another 40 percent saying they would. In Indonesia and Thailand specifically, that figure climbs above 50 percent. A separate Visa-commissioned study put Singapore even higher, with roughly 77 percent of residents already using generative AI tools in daily life, and around 8 in 10 saying they rely on AI assistance when shopping online. In other words, the demand is sitting here. The agentic checkout layer is being built somewhere else. For ASEAN’s superapps and e-wallets, the Grabs, GoTos, GCashes and TNG eWallets, of the world, that’s a strategic problem with a narrow set of answers. They already own most of what Google is trying to build: discovery (the app’s home screen), the merchant graph (food, transport, retail, services), payment rails, and a hold on user identity that Google does not have here. What they don’t yet have is the agentic layer sitting on top. Three options, broadly. Ship their own agent fast and try to be the ASEAN consumer’s primary AI interface for everything inside their walled garden. Open up to the global agentic protocols, accept reduced direct ownership of the user relationship, and compete to be the most useful merchant-side agent on someone else’s stack. Or some hybrid: a closed-loop agent inside the superapp for high-frequency local services, plus interoperability for the long tail of cross-border purchases the walled garden can’t serve. The one option that almost certainly doesn’t work is doing nothing and assuming the moat holds. Walled gardens have held up well in Southeast Asia, but agentic commerce is the first wave that goes after the wall itself rather than what sits behind it. Agentic commerce is not coming. It’s here. The interesting question for everyone reading this isn’t whether to pay attention. It’s how much catching up there is to do, and how quickly.   Featured image: Edited by Fintech News Singapore, based on image by Google I/O 2026: Google Keynote The post Agentic Commerce Is Here. Google’s Universal Cart May Change How We Shop Forever appeared first on Fintech Singapore.

Mayapada Group fintech company adopts Oradian’s digital-native core banking and loan management system to support expansion, faster product innovation, and scalable growth. Indonesia’s digital lending sector is entering a new stage of maturity. For fast-growing lenders, the challenge is no longer simply acquiring customers or increasing loan volumes. It is building the operational infrastructure needed to scale sustainably while maintaining flexibility, visibility, and regulatory readiness. This shift is driving growing demand for modern lending infrastructure across the Indonesian market, particularly among institutions looking to accelerate growth without compromising operational control or auditability. Against this backdrop, Pohon Dana, a Mayapada Group fintech pillar and leading Indonesian digital financial services provider, has selected Oradian’s digital-native core banking and loan management system to support the next phase of its lending and operational growth in Indonesia. Pohon Dana supports individuals and MSMEs across Indonesia through technology-enabled financial services designed to simplify access to credit while maintaining strong standards around security, governance, and ethical lending practices. As the company continues expanding its lending operations, its focus is on scaling efficiently, accelerating product innovation, and increasing operational flexibility to meet rapidly evolving customer and market demands. At the same time, Pohon Dana is strengthening operational control, improving auditability, and maintaining alignment with Indonesia’s evolving regulatory environment as it builds a scalable foundation for long-term growth. For many Indonesian lenders, legacy systems increasingly create operational bottlenecks as organisations scale. Product launches become slower, reporting requirements become harder to manage, and fragmented systems can limit visibility across operations. At the same time, expectations from regulators, customers, and investors continue to rise. Pohon Dana’s selection of Oradian reflects a broader market trend toward digital-native infrastructure designed specifically for high-growth lending environments. By partnering with Oradian, Pohon Dana gains access to a platform built to support rapid operational expansion while enabling faster product development and greater adaptability. Oradian’s architecture provides financial institutions with the flexibility needed to respond quickly to changing customer needs, evolving market conditions, and new business opportunities, while maintaining the operational transparency and reporting capabilities required in regulated financial environments. The flexibility of the platform also gives Pohon Dana a stronger foundation to experiment with new digital lending models, automate operational processes, and adopt AI-driven capabilities as the Indonesian financial services market continues evolving. The platform also enables institutions to adopt emerging technologies and AI-driven capabilities more effectively as digital lending models become increasingly data-driven and customer expectations continue evolving. Antonio Separovic “Indonesia’s digital lending market is entering a new phase where growth alone is no longer enough. Institutions are now being evaluated on how well they can scale while maintaining operational control, governance, and regulatory readiness,” said Antonio Separovic, CEO of Oradian. “Pohon Dana represents the kind of forward-looking financial institution we believe will define the next generation of financial services in Indonesia. This partnership is a strong validation of the growing demand for modern, cloud-native lending infrastructure built specifically for regulated growth environments.” For Indonesian fintechs and digital lenders, the partnership also signals increasing confidence in globally proven technology platforms capable of supporting local market complexity and regulatory expectations. As institutions across the country continue modernising their technology stacks, scalability, configurability, speed-to-market, and operational visibility are becoming key competitive differentiators. Fina Valentin “Oradian provides us with the flexibility and scalable functionality we need to strengthen our operations and support our next phase of business expansion,” said Fina Valentin, CEO of Pohon Dana. “We were looking for a partner that understands high-growth lending environments and can support strong governance, compliance, reporting, and operational control in line with OJK expectations. As we continue scaling our MSME lending operations, having a modern loan management system that can evolve with us while maintaining security and auditability is critical.” The partnership reflects the broader transformation underway across Indonesia’s financial sector, where institutions are increasingly investing in digital infrastructure that enables both rapid innovation and stronger operational foundations. With digital lending competition intensifying, institutions that can launch products faster, scale more efficiently, and maintain strong operational oversight are likely to be best positioned for long-term growth. This milestone also reinforces Oradian’s long-term commitment to Indonesia and its focus on supporting financial institutions driving innovation and financial inclusion across emerging markets.     Featured image credit: Edited by Fintech News Singapore, based on image by Pohon Dana The post Pohon Dana Selects Oradian to Scale Digital Lending appeared first on Fintech Singapore.

The success of the PromptPay payment system in Thailand is a testament of the power of a dual approach combining government leadership with private sector adoption. This model could be applied to transform international trade infrastructure, building on PromptPay’s strong foundation in domestic digital payments, according to Rahul Bhargava, Interim Chief Operating Officer of Contour Network and Senior Financial Sector Advisor at the World Bank. Trade finance inefficiencies Speaking to Thairath Money at Money20/20 Asia 2026, Bhargava said that while consumer payments have advanced significantly, trade finance remains burdened by inefficiencies because of manual processes, and disconnected workflows. The sector still relies heavily on paper documents including letters of credit (LCs) but also for data verification, and transaction confirmation, and requires coordination among banks, buyers, sellers, logistics firms, and many related agencies. A critical bottleneck, according to Bhargava, is the lack of true data integration. Each party often operates on separate systems, creating silos that hinder efficiency. Furthermore, discrepancies frequently arise when payment terms are altered via informal channels like email or WhatsApp while primary documents aren’t updated accordingly. This leads to disputes, operational errors, and trade delays. In contrast, modern payment systems like PromptPay can automatically send “settlement confirmation” almost instantly, notifying recipients within seconds that funds have arrived. However, in trade finance, many organizations still rely on manual confirmations by banks made by phone calls or emails. PromptPay: a viable model for trade According to Bhargava, PromptPay’s success offers a viable model for the global trade sector. He attributes this success to the powerful synergy of top-down and bottom-up forces. From the top-down side, the Bank of Thailand (BoT) set clear roadmaps for PromptPay, established common standards for digital payments, and created regulatory sandboxes for innovation trials. From the bottom-up side, banks, payment providers, and citizens embraced the technology, driving transaction volumes from hundreds of thousands per day a year after the system’s launch to now over 81 million daily transactions. Bhargava, a former executive with experience in cross-border payments who has worked at SWIFT, said he joined the Contour Network to address the systemic issues in the trade finance industry by integrating trade digitalization with payments and settlement within a unified ecosystem. The Contour Network, which has been operational since 2017, provides banks and corporates with a production-grade, blockchain-enabled platform for digitizing LCs, reducing processing times from days to hours across live commodity and manufacturing trades. Originally launched by a consortium of global banks including HSBC, Standard Chartered, Citi, BNP Paribas, DBS, ING and others, the Contour Network continues to evolve to offer greater flexibility, scalability, and settlement optionality in response to changing regulatory changes and legal frameworks such as MLETR, industry initiatives including TradeTrust and ICC DSI, as well as growing institutional adoption of tokenized assets and regulated stablecoins. Bhargava was named the Interim Chief Operating Officer of the Contour Network in February 2026, and is now leading the platform’s next growth phase, strengthening institutional engagement and advancing the integration of digitized trade finance with flexible, compliant settlement options across both traditional and regulated digital channels. Changing payment preferences Launched in 2016, PromptPay is a payment system infrastructure that allows users to transfer money using their citizen IDs, mobile phone numbers, or bank account numbers with minimal fees. Transfers are free for amounts under THB 5,000 (US$153), while larger transactions are charged nominal fees ranging from THB 2 (US$0.06) to THB 10 (US$0.31). In addition to facilitating basic money transfers and payments, PromptPay is also a critical tool utilized by government for social welfare disbursement. It also offers a variety of services including an e-wallet service, tax reimbursement, business-to-business (B2B) payments, and electronic donation services. PromptPay flow, Source: Bank of Thailand BoT is also actively working on connecting the PromptPay system with similar systems globally, including Malaysia’s DuitNow, and Singapore’s PayNow, to ensure seamless, instant cross-border payment transactions. It’s also enabling QR code payment connectivity with jurisdictions including Hong Kong, and Laos. Overview of Thailand’s cross-border payment linkages, Source: Bank of Thailand In Thailand, payment habits and preferences have shifted towards digital transactions, with PromptPay and QR code payments becoming the default payment methods. According to data compiled by the Emerging Payments Association Asia (EPAA), account-to-account (A2A) transactions accounted for 41% of all point-of-sale (POS) payment value in 2024, surpassing cash with a 31% share. Other digital payment methods accounted for 31% of POS transaction value, giving cashless payments a total share of 66% in 2024. Value share of pament methods at point-of-sale (2024), Source: Payments in Thailand, Emerging Payments Association Asia, Apr 2026 Digital banking is also surging, with 181.8 million accounts in January 2026, transaction volume up 10.6% YoY to 3.5 billion, and transaction value rising 17.5% YoY to THB 11.5 trillion (US$352 billion). Similarly, adoption of e-Money is accelerating, with 112.3 million accounts, transaction volume up 6% YoY to 493.3 million, and transaction value up 223.7% YoY to THB 362 billion (US$11 billion). Payment data indicators as of January 2026, Source: Payments in Thailand, Emerging Payments Association Asia, Apr 2026   Featured image: Edited by Fintech News Singapore, based on image by wahyu_t via Magnific The post Thailand’s PromptPay as a Blueprint to Modernize Trade Finance and Infrastructure appeared first on Fintech Singapore.

Standard Chartered is facing questions from regulators in Hong Kong and Singapore after CEO Bill Winters’ “lower-value human capital” remark about AI-linked job cuts triggered criticism across Asia. Bloomberg reported that the Monetary Authority of Singapore and the Hong Kong Monetary Authority sought clarification from the bank, including on how the planned reductions could affect local operations. The remarks came after Standard Chartered outlined plans to cut close to 8,000 support roles over the next four years as it expands its use of AI and automation. Winters made the comment at an investor briefing in Hong Kong while discussing the bank’s shift from some human roles toward technology and investment. The phrasing drew criticism online and unsettled some employees, particularly in Asia, where the London-headquartered bank earns much of its profit. According to Bloomberg, the HKMA also asked whether the remarks suggested that the bank was using AI as a reason to reduce staff. Bank Moves to Reassure Staff After “Lower-Value Human Capital” Remark Standard Chartered later sought to reassure employees. In an internal memo, Winters clarified that roles may change or disappear because the nature of work is changing, not because the people affected have lower value. The bank noted that it regularly engages regulators on strategy, growth plans and other matters. It added that talent remains central to its plans as it invests in new roles, reskilling and redeployment. MAS said its engagement with major banks in Singapore covers key aspects of their business on a regular basis. The HKMA noted that it does not respond to questions about individual supervisory matters or media speculation. Former Singapore President Halimah Yacob was among those who criticised the terminology, describing it as demeaning to discuss workers in such clinical terms. JPMorgan Chase CEO Jamie Dimon later defended Winters. He described the comment as imprecise and said AI’s impact on employment would likely be larger than many expect, while also opening up new roles. Standard Chartered shares edged up 0.2% in London on Thursday. The stock has gained about 65% over the past year.     Featured image: Edited by Fintech News Singapore, based on image by Bill Winters via LinkedIn  The post StanChart CEO’s “Lower-Value Human Capital” Remark Draws Regulatory Scrutiny appeared first on Fintech Singapore.

The Ant International Sustainability Report 2025 sets out the company’s sustainability agenda across payment access, SME digitalisation, AI, embedded finance and digital trust. Rather than treating sustainability as a separate corporate track, the report places it closer to the way digital financial services operate. Merchant access, credit availability, risk controls and online trust all sit within the wider discussion. Published as Ant International’s second sustainability report since independent operations began, the 2025 edition marks the first year sustainability metrics were added to management performance evaluation. Ant International’s Chairman, Eric Jing, described the approach as making accountability “structural, not aspirational.” The 6T Framework Shapes Ant International’s Sustainability Approach Ant International organises its 2025 sustainability agenda around the 6T Sustainability Framework, covering Travel, Trade, Thrive, Technology, Talent and Trust. The framework spreads sustainability across cross-border payments, merchant services, AI tools, credit access, compliance and talent development, rather than keeping it within a standalone corporate function. Leadership accountability also receives more emphasis this year. Sustainability metrics have been added to management evaluation, giving inclusion and responsible innovation a more formal role in how performance is assessed. That helps explain the report’s focus on fintech infrastructure. Climate and community work remain part of the discussion, although much of the attention goes to the operating layers behind digital commerce, where payments, SME activity and trust are increasingly connected. Alipay+ and DuitNow QR Show the Local Impact of Cross-Border Payments Alipay+ carries much of the discussion on cross-border payments and financial inclusion. In 2025, the platform reached around 2 billion global user accounts, more than 150 million merchants, 47 mobile payment partners and over 220 markets. More than 90% of Alipay+ offline merchants are SMEs, which gives the payment interoperability discussion a clear merchant angle. Smaller businesses may sit close to tourist footfall, yet still lose the sale when payment acceptance does not match how travellers prefer to pay. Ant International frames Alipay+ as one way to reduce that friction. Travellers can pay with a familiar home wallet, while merchants accept payments through local QR infrastructure. Alipay+ also gives merchants tools for pre-trip visibility, in-destination engagement and post-transaction customer links. Malaysia gives this section one of its clearest regional examples as more than 360,000 MSMEs in Malaysia have benefited from tourism growth by accepting cross-border mobile payments, while tourism spending via DuitNow QR doubled. Alipay+ now connects 15 international wallets accepted at nearly 2 million DuitNow QR merchants, accounting for more than 80% of inbound cross-border QR payments. The merchant example comes through Stellar Coffee in Kuala Lumpur’s Rex building, where around 70% of customers are international visitors. After adopting Alipay+ through DuitNow QR in late 2023, more than 90% of its transactions became cashless. DuitNow QR is taking on a wider role in Malaysia’s tourism economy. Beyond domestic payments, it is helping local MSMEs reach inbound travellers who may otherwise spend mainly within larger retail or platform ecosystems. SME Digitalisation Covers Trade, Payments and Credit WorldFirst, Antom and Bettr move the SME discussion beyond payment acceptance, with a focus on the account, payment and credit tools that smaller businesses need across markets. WorldFirst now serves more than 1.6 million SME customers across over 210 markets. SMEs can use the platform to open accounts, collect funds and make payments in more than 130 currencies. It also supports treasury management and access to over 130 global marketplaces. Antom adds the merchant payment layer, with more than 300 payment methods available across its network. Smaller businesses need support beyond checkout. Foreign exchange, marketplace collections, supplier payments and reconciliation all affect how easily they can trade across markets. Credit access remains another gap when traditional lending models do not fully capture their business activity. Bettr adds the credit access layer, with its credit services reaching more than 30 million eligible users across 20 markets, alongside more than 980,000 credit services and digital banking users, and over 110,000 SME customers. Ant International says Bettr uses platform-based information to support more tailored risk assessment for users and businesses that may not fit traditional credit models. The company also highlights its investment in R2, a lending platform operating across Latin America, where unmet financing demand exceeds US$1 trillion. AI Tools Move Closer to SME Operations AI appears across several parts of Ant International’s 2025 sustainability agenda, especially under its Technology and Trade pillars. The company says it rolled out tools that help SMEs and emerging markets use AI without heavy infrastructure or deep technical capacity. Antom Copilot 2.0 automates payment integration, onboarding, risk and chargeback resolution, while Antom Agentic Payment Solution allows AI agents to initiate and complete card and alternative payment method transactions under a mandate model. Other tools broaden the AI section beyond payments. GenAI Cockpit helps fintechs such as Malaysia’s TNG eWallet and Pakistan’s easypaisa build AI commerce tools, while Alipay+ Voyager supports travel use cases as an agentic AI companion embedded in super apps. EPOS360 brings AI into SME operations and financing in Southeast Asia. Ant International also points to Falcon AI FX, its open-sourced AI foreign exchange solution, which delivers FX forecasts with up to 93% prediction accuracy and runs on more than 8.5 billion data parameters. Across these examples, AI in fintech is linked to payment operations, merchant onboarding, FX forecasting, customer service, travel planning and chargeback handling. The report also touches on agentic commerce, as AI agents begin to sit closer to how transactions are initiated and completed. Digital Trust and Fraud Prevention Move Into Focus Digital trust receives a more prominent role alongside growth, with Ant International saying its risk solutions reduced fraud rates by 50%. The company also highlights its SHIELD 3-in-1 Transformer model, supported by 7 billion parameters, which identifies high-risk transactions with more than 95% precision while raising payment success rates by up to 13.5%. The Digital Wallet Guardian Partnership shares anti-fraud and fund protection tools with wallet partners. Ant International’s Alipay+ Privacy Enhancing Technology programme was also cited by Singapore’s Personal Data Protection Commission in practical industry guidance. As digital commerce becomes more connected, trust controls are becoming harder to separate from the payment infrastructure itself. Talent and Social Impact Add the Wider Sustainability Layer The broader sustainability section covers talent development, social impact and environmental engagement alongside Ant International’s fintech initiatives. Through 10×1000 Tech for Inclusion, Ant International has certified 9,504 learners since 2018, with women making up 55% of the group. The company also says it has empowered more than 16,000 women cumulatively. Its social impact work also runs through wallet and platform partnerships. AlipayHK’s fundraising channel after the Tai Po fire raised around US$25.5 million (HK$200 million) from 450,000 super app users in the first three days, while in Indonesia, Ant International worked with DANA and Konservasi Indonesia on Ocean Buddy, an in-app whale-shark protection mini-programme. These programmes place talent development and public participation alongside the company’s core fintech themes, rounding out a report that otherwise focuses heavily on payments, SME access, AI tools and digital trust. The full Ant International Sustainability Report 2025 goes deeper into the company’s 6T framework, product initiatives, governance approach, community programmes and environmental disclosures. Download the full report for the complete breakdown. Featured image: Edited by Fintech News Singapore based on images by aestelle via Unsplash and the 2025 Ant International Sustainability Report. The post Ant International Wants Sustainability to Mean More Than Just ESG appeared first on Fintech Singapore.

The Singapore Police Force (SPF) has warned of a sharp rise in sophisticated impersonation frauds, citing a recent incident where scammers staged a fabricated Zoom meeting impersonating senior government officials. The virtual conference used deepfake AI-generated elements to impersonate Prime Minister Lawrence Wong and other leaders to mislead victims. This warning, issued in a series of May advisories by the Singapore Police Force, highlights how fraudsters are mimicking senior political leaders to manufacture false authority. “The scammers appear to be targeting business professionals who have had prior interactions with government officials,” the police said. The advisory coincides with two massive business email compromise cases that targeted local companies for more than US$40 million combined. Scammers are increasingly blending AI tools with traditional social engineering to bypass corporate financial controls and execute unauthorized cross border transfers. Deepfake meeting and forged documents In the highlighted deepfake case, scammers impersonated Secretary to the Cabinet Wong Hong Kuan. They contacted the victim via WhatsApp to arrange an urgent virtual meeting regarding the situation at the Straits of Hormuz. The victim received an email from a fake official address containing a forged government letter of guarantee bearing the Prime Minister’s signature. The letter claimed the Singapore government would reimburse any funding assistance within 15 business days. “Members of the public should be vigilant against scams that involve the impersonation of senior government officials,” the police said, noting that victims are often asked to sign forged non-disclosure agreements before joining these calls. Footage obtained by the police showed a highly elaborate fabricated Zoom meeting. Scammers simulated the presence of Singapore’s President, the Prime Minister, a cabinet minister, and representatives from the Monetary Authority of Singapore (MAS). The call also featured fake foreign diplomats from Canada and the UAE, alongside purported representatives from Blackrock and the Dubai International Financial Centre. The victim was introduced as a private sector participant. Following fake briefings on the Straits of Hormuz, the meeting ended with a deepfake video of the Prime Minister delivering closing remarks. The AI-generated video specifically acknowledged the victim’s attendance to build credibility. Following the meeting, the victim transferred S$4.9 million to a scammer-controlled corporate bank account before realising the deception on 14 May. Corporate funds targeted Separately, in the first business email compromise case, the CEO of a Singapore based firm received a WhatsApp call from an individual posing as the chairman of the company’s headquarters. The executive was instructed to assume responsibility for an acquisition project and arrange the necessary funding. Between 13 and 17 April 2026, the company transferred US$36.3 million from local and overseas accounts into two local OCBC bank accounts. The CEO uncovered the deception after verifying the transaction with the actual Chairman. The Anti-Scam Centre intervened and successfully seized US$9.7 million from the local accounts. By that time, the perpetrators had already wired approximately US$26.5 million to accounts in Hong Kong. The Anti-Scam Centre worked with Hong Kong authorities to freeze over US$11.1 million from bank accounts and associated cryptocurrency wallets. Police arrested two Singaporeans for suspected involvement in facilitating the opening of a corporate bank account to receive the illicit funds. Authorities continue to conduct investigations and have not filed any charges at the time of publication. Cross border recovery efforts A separate incident saw a Singapore based commodity trading firm tricked into transferring US$6.6 million to a fraudulent bank account in Oman. Staff received an email from what appeared to be a legitimate supplier. The scammer subtly altered the domain name by transposing two letters, deceiving employees into authorising the transfer on 29 April. Employees discovered the fraud the next day after the genuine supplier confirmed there had been no change to their banking details. Coordinated efforts between Singapore, the UAE, Oman, and HSBC Singapore resulted in the full recovery of the stolen funds. These cases demonstrate a growing vulnerability in corporate payment approval processes. The incidents underscore how scammers are combining social engineering, email spoofing, and AI-generated content to establish false urgency and authority.   Watch a quick breakdown of how this scam was pulled off, and why the technology behind it is only going to get more convincing from here. @fintechnewsnetwork Singapore Prime Minister Deepfake; $4.9m Loss A Singapore businessman lost S$4.9 million on a Zoom call with a fake PM Lawrence Wong. fintech Deepfake Security fraud ♬ original sound – Fintech News Network – Fintech News Network     Featured image credit: Edited by Fintech News Singapore, based on image by Singapore Police Force via TikTok and thanyakij-12 via Magnific The post Singapore Police Warn of Rising Threat After S$4.9M PM Wong Deepfake Scam appeared first on Fintech Singapore.

In this exclusive roundtable jointly hosted by Fintech News Network and Alteryx, senior banking leaders in Singapore shared how their institutions are deploying AI today, debated where human accountability still sits, and asked whether traditional banks will still exist in 10 years. The conversation moved through: How leading banks are deploying AI today, from chatbots and fraud detection to internal coding assistants and agentic workflows The rise of citizen coding when “the coding language is now English”, and what it means when non-technical staff start building The leap in compute power that has outpaced traditional planning models, and one banker’s case that the industry is not ready for it Where human accountability still sits when AI is making more of the calls, and the trust calibration problem on both ends Whether the big incumbents will exist in 10 years, and what a bank built with 10 people would look like The talent shift no one is talking about: vanishing junior roles, context engineers replacing engineers, and the gender impact of AI automation Speakers: Arun Muraleedharan, SVP, AML/KYC & Fraud Program, Group Retail, UOB Atul Bhuchar, Head of Transaction Banking Product APAC, SMBC Céline Le Cotonnec, Chief Data and Innovation Officer, Bank of Singapore Jackson Oh, CTO, ANEXT Bank Joe McGuire, Head of Digital Labs, Asia Pacific, Mastercard Lee Zhu Kuang, Group Head of Innovation, UOB Mani Gupta, Vice President, Visa Consulting & Analytics, Asia Pacific Philip Madgwick, Regional Vice President, Asia, Alteryx Rachel Freeman, Chief Growth Officer, Tyme Rajat Malhotra, CTO, GXS Bank Rajay Rai, Chief Information & Operations Officer, Trust Bank Raymond Ng, CEO, Singapore and Southeast Asia, Revolut Ross Morpeth, Director, Customer Experience – EMEA & APAC, Alteryx Songhua Zhang, SVP, AI/ML Group Legal & Compliance, DBS Bank Moderated by Vincent Fong, Chief Editor, Fintech News Network The post Banks Are Not Ready for AI | Singapore AI CxO Roundtable appeared first on Fintech Singapore.

Trust Bank has cut customer chats handled by human agents by 50 percent and reported around a 40 percent drop in complaints within months of rolling out its Gen AI chatbot. The chatbot lets customers ask questions in natural language and get answers directly within the Trust app, without going through fixed menus or scripted replies. It handles common banking queries such as deleting a payee, paying a credit card bill, replacing a card, accessing bank statements and using Linkpoints. The chatbot draws on updated product information and customer context to provide more relevant responses. Complex cases are handed over to human agents with the conversation history retained. Trust also involved its Customer Care team in refining the chatbot’s knowledge base to improve response quality. Automated testing is used to monitor performance and support further updates. Human Agents Shift to Complex Cases The rollout has reduced routine support volumes, allowing human agents to focus on more complex customer issues. One former customer service agent has also moved into a full-time AI analyst role, monitoring trends, deflection rates and performance results. The project also showed that customers prefer conversational support over navigating app menus, while context plays a key role in improving support quality. Angela Yeo Angela Yeo, Head of Customer Service at Trust, said, “Customers today expect banking to be instant, personalised and effortless. We saw a clear opportunity to redesign customer support with generative AI, not simply to automate conversations, but to deliver a genuinely better experience. By combining AI’s speed, consistency and accuracy with thoughtful design, we’ve made banking simpler, more intuitive and delightful so customers can spend less time managing their finances and more time living their lives.” Trust plans to expand its use of Gen AI beyond customer support, including AI-powered transaction search, spending insights and more personalised financial guidance. While Trust’s chatbot shows how Gen AI is already being applied in banking, the broader challenge is speed. Speaking at a Fintech News Singapore roundtable, Rajay Rai, Chief Information & Operations Officer at Trust Bank, warned that banks need to move faster to keep up with AI. @fintechnewsnetwork After 35 years in banking, Rajay Rai, CIO @trustbank.sg ♬ original sound – Fintech News Network     Featured image: Edited by Fintech News Singapore, based on image by vishaldesignstudio via Magnific The post Trust Bank Cuts Human-Handled Chats by 50% With Gen AI Chatbot appeared first on Fintech Singapore.

Amazon expects its AI and cloud infrastructure investments in Southeast Asia to exceed US$33 billion by 2039 as demand for digital services grows. The investments cover Indonesia, Malaysia, Singapore and Thailand, where Amazon Web Services (AWS) operates cloud regions. Amazon projects that the investments will add more than US$64 billion to the four countries’ combined GDP and support over 56,300 full-time equivalent jobs annually across the local data centre supply chain once completed. The company said its cloud and AI services are already being used by financial institutions and public sector organisations in the region. Union Bank of the Philippines has deployed generative AI-powered analytics on AWS for more than 200 business users, while Singapore’s GovTech developed MAESTRO, a tool that helps public agencies build generative AI solutions. Amazon has also trained more than 2.7 million people in Southeast Asia on cloud skills since 2017, with financial services among the sectors competing for cloud, AI and data talent. David Zapolsky David Zapolsky, Amazon’s Chief Global Affairs and Legal Officer, said, “Amazon has plans to invest more than US$33 billion across Southeast Asia through 2039. We’re building infrastructure, training local workforces, and enabling businesses across the region to compete globally. Governments across Southeast Asia deserve recognition for their bold leadership in shaping policies and economic conditions that are accelerating growth and attracting global investment in AI and technology at an unprecedented pace.”     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Magnific The post Amazon Plans Over US$33 Billion in Southeast Asia Investments by 2039 appeared first on Fintech Singapore.

iProov has launched Verified Meetings to help organisations check the identity of video call participants before critical decisions are made. The tool verifies whether a participant is a real person using a physical camera, rather than an AI-generated identity or virtual camera setup. Verified Meetings is part of the iProov Workforce Solutions Suite and supports its Workforce “Pre-Join” journey. Video calls now sit inside higher-risk workflows such as customer onboarding, remote hiring, account recovery and financial approvals, making them a growing target for deepfake fraud and social engineering. iProov cited the US$25 million deepfake video call fraud involving engineering firm Arup, as well as reports of North Korea-linked operatives using synthetic media in remote job interviews. Andrew Bud Andrew Bud, Founder and CEO of iProov, said, “Video has become the standard way of communicating for business and consumers alike, from meeting with colleagues and suppliers to hiring, onboarding, and approving financial transactions. But organisations still largely assume that seeing a person on screen means they’re real. That assumption no longer holds. Deepfakes are now easy to create and very difficult to detect, making deception in video interactions both scalable and hard to stop. ” Delivered as a native plugin for video conferencing platforms, Verified Meetings can be triggered by the host during a call. It analyses the live video stream in real time to detect deepfakes and presentation attacks, while checking whether the feed comes from a physical camera. The check runs in the background without alerting the participant. The result appears to the host as a red, amber or green status. iProov said the tool can help reduce risks before money is released, candidates are hired or access is granted. The solution is supported by the iProov Security Operations Center, which monitors new attack methods and updates detection capabilities as threats evolve.     Featured image: Edited by Fintech News Singapore, based on image by Tanu via Magnific The post iProov Launches Verified Meetings to Address Deepfake Risks in Video Calls appeared first on Fintech Singapore.

iFAST Global Bank launched the Worldwide Scan & Pay on 20 May 2026. It is a cross-border QR code payment feature enabled via Alipay+, a unified wallet gateway by Ant International. It is said to allow quick, cardless transactions for individual clients at 150+ million merchants across 220+ markets globally. iFAST Global Bank’s clients can make payments at Alipay+ compatible QR merchants and supported national QR networks by scanning via the iFAST Global Bank mobile application and confirming the transaction. There is no need for a physical card. Alipay+ currently partners with over 10 national QR schemes across Asia and other markets. Worldwide Scan & Pay is available for all iFAST Global Bank Digital Personal Banking clients, with payments linked directly to clients’ Multi-Currency Current Account. It is designed for in-person retail shopping, dining, and travelling. Inayat Kashif, CEO of iFAST Global Bank, shared, Inayat Kashif “Together with Alipay+, we are enhancing the way clients transact internationally by delivering a more integrated and convenient global payment experience.” Edward Yue, General Manager of Alipay+ Global Power Center, Ant International, added, Edward Yue “Our partnership with iFAST builds on our shared vision to make payments work for everyone, everywhere. At Alipay+, we have a continued commitment to supporting financial institutions, including banks, e-wallets and fintechs, with solutions that drive growth, enhance digital user experience, and strengthen the digital economy.” This is said to be the first collaboration between Ant International and iFAST Global Bank, with further initiatives being considered, including travel-related offerings within the Alipay+ AI-powered services. Featured image edited by Fintech News Singapore based on image by bemphoto31 on Magnific The post iFAST Global Bank Rolls Out Worldwide Scan and Pay, Powered by Alipay+ appeared first on Fintech Singapore.

Franklin Templeton is working with DigiFT to widen institutional access to its Benji tokenisation platform in Asia. The partnership will make Franklin Templeton’s Benji Technology Platform and related tokenisation products available to accredited and institutional investors through DigiFT. DigiFT will serve as a key distributor across Asia, with both companies expected to expand the partnership over time. The Benji Technology Platform supports tokenised U.S. government securities strategies with continuous yield accrual, including intraday accrual through Franklin Templeton’s patent-pending Intraday Yield mechanism. It also supports 24/7 transfers between permissioned wallets and near-instant on-chain settlement, which could be used for treasury management, payments, settlement and off-exchange collateral. Henry Zhang Henry Zhang, Founder and Group CEO of DigiFT, said, “DigiFT was built with a specific conviction: that institutional investors deserve access to the world’s best on-chain financial instruments, through a platform that meets the regulatory standard they require. The partnership with Franklin Templeton reflects that conviction and marks the beginning of a long-term strategic collaboration to bring tokenised solutions to market.” Chetan Karkhanis Chetan Karkhanis, SVP, Digital Asset Partnership Development at Franklin Templeton, said, “DigiFT’s leadership and innovative edge, together with the institutional infrastructure they have built, provides a strong foundation for this partnership. This marks the beginning of what we expect to be an expanding and enduring collaboration.” The Singapore-based digital asset exchange holds Capital Markets Services and Recognised Market Operator licences from the Monetary Authority of Singapore. It also holds Type 1 and Type 4 licences from Hong Kong’s Securities and Futures Commission. Franklin Templeton launched the first U.S.-registered mutual fund to use a public blockchain for transaction processing and share ownership records in 2021.     Featured image: (From left) Henry Zhang, Founder and Group CEO at DigiFT and Chetan Karkhanis, SVP Digital Asset Partnership Development at Franklin Templeton The post Franklin Templeton and DigiFT Partner to Expand Benji Tokenisation in Asia appeared first on Fintech Singapore.

Fireblocks has launched its Agentic Payments Suite to support stablecoin payments initiated by AI agents across blockchains. The company has also joined the x402 Foundation, the Linux Foundation-hosted body overseeing the x402 protocol for agent-to-merchant payments. Fireblocks is contributing a security extension to x402 that adds request integrity and spend governance for agent-led transactions. The suite is aimed at payment service providers and fintechs looking to offer agentic payments with built-in compliance, security and spending controls. The launch comes as AI agents begin moving from recommendations into transaction execution, including travel bookings, supply purchases and usage-based API payments. The suite includes an Agentic Payments Gateway, which lets payment service providers offer stablecoin acceptance to merchants without requiring blockchain expertise. Payments are routed into Fireblocks wallets or connected accounts with compliance and security controls. It also includes Agentic Wallets, which allow fintechs to provide programmable wallets that can be delegated to AI agents. These agents can access funds, sign transactions and pay merchants that accept x402 or MPP within set limits and with a full audit trail. Idan Ofrat “Card infrastructure was built on the assumption that humans initiate every transaction. Agent infrastructure reimagines this at the root. The protocols have answered how agents pay. We built the layer that makes sure they do it with the right controls in place.” said Idan Ofrat, Co-Founder and Chief Product Officer at Fireblocks. Fireblocks noted that the suite supports any stablecoin on any blockchain and can work with emerging agentic payment standards. Off-ramp, conversion and reconciliation tools are also included. AUSD, Agora’s regulated dollar-denominated stablecoin, is already live on the Fireblocks stack. Fireblocks’ stablecoin infrastructure is used by payment companies and fintechs across more than 100 countries.     Featured image: Edited by Fintech News Singapore, based on image by isaac1112 via Magnific The post Fireblocks Launches Agentic Payments Suite appeared first on Fintech Singapore.

HSBC CEO Georges Elhedery has warned that artificial intelligence (AI) will change the shape of work in financial services as the bank increases its use of the technology across the business. At an investor day on Wednesday, Elhedery told employees to adapt to the shift and work with the bank as AI becomes a larger part of its operations, Reuters reported. He said generative AI would lead to the loss of some roles while opening up new ones, making workforce training a priority for HSBC. Elhedery framed the challenge as one of preparing the bank’s global workforce for a different operating environment. He said HSBC needed to give employees the skills, support and resources to stay relevant as AI changes how work is done. He also stressed that the transition should not leave staff feeling excluded, worried or resistant to the changes being introduced. HSBC appointed David Rice as its first Chief AI Officer in March, with the role taking effect on 1 April. The appointment is part of HSBC’s effort to scale AI use across its operations. The bank has identified AI as one way to simplify its operations, reduce manual processes and support its profitability targets. Elhedery said HSBC is using the technology across multiple functions and business lines, including efforts to tailor content for customers. The bank’s investor materials point to several areas where AI is being applied, from onboarding and customer due diligence to risk monitoring, call centre operations and wealth services.     Featured image: Edited by Fintech News Singapore, based on image by ttonaorh via Magnific   The post HSBC CEO Says AI Will Disrupt Jobs as Lender Trains Staff for Change appeared first on Fintech Singapore.

OpenAI has chosen Singapore for its first Applied AI Lab outside the United States as part of a new S$300 million partnership with the government. The OpenAI for Singapore initiative was announced at the ATx Summit and will support the country’s National AI Strategy. The partnership with the Ministry of Digital Development and Information will focus on three areas: helping organisations use advanced AI, building local AI talent and widening access to AI tools across the economy. The new Applied AI Lab will create more than 200 technical roles in Singapore over the next few years. OpenAI will also make Singapore one of its global hubs for Forward-Deployed Engineers. These engineers work directly with companies to apply AI to business and operational challenges. The lab will support projects tied to Singapore’s AI Mission priorities, including public service, finance, healthcare and digital infrastructure. Denise Dresser “We’re excited to partner with Singapore as it builds on its position as a global leader in AI. Singapore has strong technical talent, trusted institutions, and a clear ambition to use AI to drive long-term growth and improve people’s lives. Through OpenAI for Singapore, we want to help more organisations benefit from frontier AI, support the next generation of local AI talent, and widen access to these tools across the country.” said Denise Dresser, Chief Revenue Officer at OpenAI. OpenAI for Singapore will also include programmes to build AI skills locally. This includes work with the Ministry of Education and GovTech on AI-enabled learning tools, including support for Mother Tongue language learning. The company will also support educators through a Singapore chapter of the OpenAI Academy and Codex for Teachers hackathons. It also plans to launch a Forward-Deployed Engineer training programme and participate in the National AI Impact Programme, including through the use of Codex, to deepen AI capabilities across the technology workforce. OpenAI will work with local partners to explore accelerator programmes for AI-native startups and workshops for micro-entrepreneurs and small businesses. The initiative will focus on practical AI adoption, including helping founders build with AI and supporting SMEs in areas such as operations and customer service.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Magnific The post OpenAI Commits Over S$300 Million to Singapore appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) has revoked the Major Payment Institution License of Bsquared Technology (BSQ) following findings of alleged breaches of regulatory requirements as well as the submission of false or misleading information. The revocation came into effect on 14 May 2026. Bsquared Technology is no longer permitted to provide digital payment token services in Singapore under the Payment Services Act 2019. MAS detailed the enforcement action in an official notice issued 16 months after it originally licensed the firm in January 2025. According to the regulator, an onsite inspection in 2025 revealed significant weaknesses in the company’s risk management practices and conflict of interest policies. MAS also noted that the firm failed to meet outsourcing guidelines in its arrangements with related entities. Bsquared Technology submitted information that was false or misleading in material particulars on multiple occasions, the regulator found. MAS found that these misrepresentations occurred from the time of the firm’s initial license application and continued through the inspection period. The company conducted limited activities while licensed and reported holding no outstanding customer funds or assets, MAS said. The firm must submit an auditor-issued closure certificate that confirms it has appropriately routed all customer funds. The regulator stated it takes a serious view of the breaches and is currently reviewing the responsibilities of key officers at the firm. MAS added that entities breaching regulatory requirements or providing inaccurate information will face consequences.     Featured image credit: Edited by Fintech News Singapore, based on image by artyomstock89 and mamewmy via Magnific The post Bsquared Technology Payment License Revoked Over Serious Breaches, MAS Says appeared first on Fintech Singapore.

DBS is partnering with the Climate Bonds Initiative (CBI) to develop financing approaches and internal banking capabilities for climate adaptation and resilience in the APAC region. The agreement was signed on the sidelines of Temasek’s Ecosperity 2026 sustainability event in Singapore. Through the collaboration, DBS and CBI will jointly publish research identifying investable climate adaptation opportunities in sectors such as energy and real estate. The research will combine CBI assessment methodologies with regional market data from DBS. The bank is also launching an internal capability-building programme to help its relationship managers and assessment teams integrate climate resilience factors into core banking processes. Staff will receive foundational and advanced training on how to avoid maladaptation risks and monitor the impact of resilience investments. Shilpa Gulrajani “Unlike mitigation projects, which typically generate clear and predictable cash flows, many adaptation investments are centred on loss avoidance,” said Shilpa Gulrajani, Head of Sustainable Finance, Institutional Banking Group, DBS. Gulrajani added that this dynamic makes adaptation projects inherently more challenging to finance using conventional approaches, highlighting the need for new frameworks. Sean Kidney “Financing resilience investment has become critical to avoid derailing economies and increasing default risk,” said Sean Kidney, CEO of the Climate Bonds Initiative. The partnership aligns with a growing domestic focus on physical climate risks. Singapore’s Ministry of Sustainability and the Environment has designated 2026 as the Year of Climate Adaptation. Broader estimates cited during the announcement indicate that economies will need over US$365 billion annually by 2035. This is to develop resilient infrastructure capable of withstanding climate shocks such as floods and heatwaves.     Featured image credit: Edited by Fintech News Singapore, based on image by Rashed_stock via Magnific The post DBS Partners Climate Bonds Initiative on Climate Adaptation Financing in APAC appeared first on Fintech Singapore.

Primer has raised US$100 million in Series C funding to expand its AI payments platform and grow its US business. The round was led by Sofina, with participation from Peak XV Partners and existing investors Balderton, Accel, ICONIQ, Tencent and Speedinvest. Primer will use the funds to develop AI tools for payments and finance teams, including Primer Companion, its AI agent for merchants. Founded in 2020, Primer helps merchants manage payments across processors, acquirers, fraud tools and payment methods. Its platform captures more than 400 data points per transaction, manages more than 95% of customer payment volume on average and processes billions of transactions annually for businesses including GetYourGuide, Dialpad and Printful. Fragmented payment data can affect how AI tools support payment decisions. Gabriel Le Roux “In the next few years, every payment decision in a large business will be initiated, optimized or audited by AI. That shift is already underway. The question is whether the data those systems run on is complete because when you deploy agents across fragmented data, they don’t just underperform, they make the wrong decision. That’s why the next era of payments can only be built on complete, contextual intelligence.” said Gabriel Le Roux, CEO and co-founder of Primer. Primer Companion was launched in 2025 to answer payment queries and surface insights from merchant payment data. Primer plans to develop the tool further so it can run experiments, optimise performance and operate within merchant-defined parameters. The US accounts for around a fifth of Primer’s revenue, with annual recurring revenue in the region doubling year-on-year. Primer aims to grow US revenue to more than a third of total revenue by 2028 and hire up to 50 people in the region.     Featured image: Edited by Fintech News Singapore, based on image by Pixelid via Magnific The post Primer Raises US$100 Million Series C With Backing From Tencent, Peak XV appeared first on Fintech Singapore.

Digital assets are gaining real traction among regulated institutions, but security risks are rising just as quickly. As adoption accelerates, scrutiny around custody controls, transaction integrity and compliance oversight is becoming more intense. Banks, exchanges and financial intermediaries are no longer running isolated pilots. Digital asset workflows are being integrated into day-to-day operations, which makes security architecture and governance core requirements rather than secondary considerations. The institutions that move ahead will be those that can scale digital asset activity without compromising control, resilience or regulatory standards. What C-level leaders should consider when building a digital asset security blueprint How regulatory developments are shaping the digital asset landscape Balancing innovation with risk management in a fast-evolving market Speakers: Sanchit Mall, Director Digital Currencies, Asia Pacific, Visa Yip Kah Kit, Head of Blockchain and Digital Assets at UOB Group Arthit Sriumporn, Founder of Rakkar Digital Ray Law, Senior Security Solution Architect, Thales Moderator: Vincent Fong, Chief Editor, Fintech News Network The post The Blueprint for Institutional Digital Asset Security at Scale appeared first on Fintech Singapore.

Mastercard has launched Merchant Trust Services to help banks and payment providers detect scam merchants earlier. The service uses Mastercard’s network intelligence, cyber and identity tools, and real-time analytics to assess merchant risk during onboarding and ongoing monitoring. It comes as fake online storefronts become harder to spot, with scammers using generative AI to create convincing websites, ads, reviews and customer testimonials. Consumers lost US$442 billion globally to online scams in 2025, according to the Global Anti-Scam Alliance’s Global State of Scams 2025 report. Mastercard is also introducing the Merchant Scam & Risk Indicator, which gives issuers real-time merchant risk signals during authorisation. In a pilot with a leading issuer, the indicator detected about 80% of risky merchants identified by the issuer. Some were flagged up to 90 days before the issuer’s first escalation. The indicator will first be available in Europe and the United States, with plans to expand globally within the year. Mastercard is also updating its franchise standards from July. Acquirers and payment facilitators will be required to investigate within 72 hours when potential scam activity reaches a defined risk threshold. If the activity is confirmed, the merchant must be stopped from accepting Mastercard transactions. Ann Johnson “Digital commerce only works when people trust what’s on the other side of the screen. If we let scammers keep posing as legitimate businesses, we don’t just lose money — we lose confidence. We need to secure this trust for the good of the entire digital ecosystem: from consumers to banks and the honest merchants who are trying to grow.” said Ann Johnson, Executive Vice President of Security Solutions at Mastercard.     Featured image: Edited by Fintech News Singapore, based on image by noob via Magnific The post Mastercard to Help Banks Spot Scam Merchants Earlier With New Trust Service appeared first on Fintech Singapore.