True Global Ventures 4 Plus (TGV) has secured a Capital Markets Services license from the Monetary Authority of Singapore. This enables it to conduct regulated fund management activities under the Securities and Futures Act 2001 beyond the management of venture capital funds. The approval recognises TGV as a licensed fund management company for accredited investors and allows it to manage regulated investment funds from Singapore. The license enables the firm to expand its mandate to new strategies. These include continuation funds that can support later-stage pre-IPO companies and invest in both primary and secondary rounds. It also covers fund of funds that allocate capital to other leading venture managers across regions and sectors. In addition, TGV may make selective investments in listed companies aligned with its focus on artificial intelligence and blockchain, giving investors exposure across both private and public markets. The license also allows TGV to set up crypto funds that provide managed access to digital assets with strong governance and risk controls. Beatrice Lion “We are honoured to receive the CMS license from MAS, which reflects our commitment to meeting the highest regulatory compliance and governance standards. This milestone enables us to build on True Global Ventures’ strong track record and with immediate effect we will be able to invest more in secondaries in our existing portfolio without restrictions from our previous VCFM license.” said Beatrice Lion, CEO of TGV. Dušan Stojanović “With our expanded license, all of the above investment strategies are possibilities of our fund management activities. That said, we will still maintain our core focus on funds investing in equity with fund sizes between US$100 and 200 million where we have so far had exceptional returns being among the top 3% of venture capital funds globally in the same vintage.” said Dušan Stojanović, initiator of TGV.     The post True Global Ventures Secures Expanded MAS License, Paving Way for Crypto Funds appeared first on Fintech Singapore.

Singapore-based Coda has completed its acquisition of Amsterdam-headquartered Recharge, a prepaid payments platform in Europe, following its July announcement of a definitive agreement to acquire the company. The combined business now serves over 200 million users in 180 markets and processed US$1.75 billion in sales in 2024. It is on track to surpass that figure in 2025. Coda works with publishers including Electronic Arts, Activision and Riot Games, while Recharge partners with Apple, Google, Vodafone and PlayStation. The deal expands Coda’s European presence and broadens its product portfolio alongside existing networks in Southeast Asia and other markets. Recharge.com, Startselect and Giftcloud will continue operating alongside Coda’s Codapay, Codashop, Custom Commerce and Coda Distribution. The companies said their teams remain in place to ensure continuity. The transaction is backed by Apis Partners, Insight Partners, Smash Capital and other investors. Shane Happach Shane Happach, Chief Executive Officer of Coda, said, “Closing this acquisition marks a major milestone in Coda’s growth journey. Recharge adds a strong consumer business, a talented team, and a product portfolio that fits seamlessly alongside ours. We now have the scale, reach, and capabilities to create new opportunities for our partners and customers worldwide — and our immediate focus is on working together to unlock that potential.” Günther Vogelpoel Günther Vogelpoel, Chief Executive Officer of Recharge, said, “Recharge brings a strong consumer engine, trusted brands, and a talented team — and now, as part of Coda, we can take that to a truly global stage. Together, we have the scale, reach, and complementary strengths to create even more value for our partners and customers worldwide. Closing this deal marks the beginning of an exciting new chapter for our businesses together.”       The post Singapore’s Coda Completes Acquisition of Recharge to Grow European Reach appeared first on Fintech Singapore.

Visa is expanding its Click to Pay service across Asia Pacific through partnerships with payment enablers 2C2P, Adyen, AsiaPay and Worldpay. The service lets online shoppers complete transactions without entering card details manually, using tokenised information linked to an email address or mobile number. It is designed to work across browsers and devices and supports biometric authentication through payment passkeys. Personal information is stored by Visa to address consumer concerns about saving data on third-party sites. The regional rollout follows earlier launches, including with ZA Bank in Hong Kong, the first issuer in Asia Pacific to enable Click to Pay as a standard feature. In Vietnam, the service is available to Techcombank and VPBank Visa cardholders shopping with participating merchants. T.R. Ramachandran T.R. Ramachandran, Head of Products and Solutions, Asia Pacific, Visa, said, “Visa is accelerating the rollout of Click to Pay to simplify the eCommerce checkout experience across Asia Pacific. Through strategic collaborations with 2C2P, Adyen, AsiaPay, and Worldpay, we are helping merchants increase sales, banks to deepen customer engagement, and consumers enjoy quicker, secure checkouts.” Warren Hayashi Warren Hayashi, President, Asia Pacific, Adyen said, “Visa’s Click to Pay aligns directly with our mission to simplify payments and empower global commerce. It reduces the need for manual card entry while managing risk, enabling us to offer our merchants a seamless, secure checkout experience that reduces cart abandonment and improves authorization rates. This will empower them to better meet the growing consumer demand for fast, secure, and frictionless payments — especially in mobile-first markets across Asia.”     Featured image: Edited by Fintech News Singapore, based on image by Visa The post Visa Pushes Wider Adoption of Click to Pay in Asia Pacific With New Partnerships appeared first on Fintech Singapore.

The Singapore Police Force has warned the public about a rise in phishing scams involving YouTrip e-wallet accounts, with at least 21 cases reported since June 14 and losses amounting to about S$16,000. Victims were lured by online advertisements for cheap food items such as durians and were directed to fraudulent websites. They were asked to provide their YouTrip card details, delivery information and phone numbers. Scammers then attempted to log in using the numbers, which triggered a one-time password (OTP) sent to the victims’ phones. Believing the OTP was needed to complete their purchase, victims entered it on the fake website, followed by their six-digit YouTrip login PIN. These details allowed the scammers to take over the accounts and make unauthorised transactions. Most victims only discovered the fraud after their accounts were compromised. While recent cases involved food promotions, police said scammers are likely to change their tactics and warned against entering e-wallet login details on unverified websites. Users are advised to only use official apps and platforms, and to contact their financial institutions immediately if they detect unauthorised transactions. Authorities also reminded the public to install the ScamShield app, enable two-factor authentication, avoid clicking suspicious links, and remain cautious of deals that appear too good to be true. Reports of suspicious activity can be made to financial institutions or relevant platforms.     Featured image: Edited by Fintech News Singapore, based on image by upklyak via Freepik The post Singapore Police Warn of YouTrip Phishing Scams Following S$16,000 in Losses appeared first on Fintech Singapore.

Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) have reaffirmed their close ties at the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam. At the meeting, the two central banks discussed global and regional economic developments as well as cooperation in payments connectivity. They also reviewed plans to mark the 60th anniversary of the Currency Interchangeability Agreement (CIA) in 2027. During the roundtable, BDCB Managing Director Hajah Rashidah binti Haji Sabtu and MAS Managing Director Chia Der Jiun signed a memorandum of understanding on a reciprocal cross-border collateral arrangement. The agreement will enable both regulators to accept a broader range of collateral in their liquidity facilities, which is expected to give financial institutions greater flexibility in managing liquidity and support financial stability in both countries. Hajah Rashidah BDCB Managing Director Hajah Rashidah remarked, “The Bilateral Roundtable stands as a testament to the strong relationship between BDCB and MAS. It is a valuable platform to enhance collaboration on areas of mutual interest and strategic importance. As long-standing partners, our continued cooperation is vital in navigating the evolving regional economic landscape.” Chia Der Jiun MAS Managing Director, Chia Der Jiun said, “The CBCA MoU further strengthens collaboration between MAS and BDCB and deepens our close bilateral relations. We look forward to commemorating the 60th Anniversary of the CIA in the near future.”     Featured image: Hajah Rashidah binti Haji Sabtu, Managing Director, BDCB, and Chia Der Jiun, Managing Director, MAS, at the MoU signing ceremony. The post Brunei and Singapore Central Banks Strengthen Bilateral Financial Ties appeared first on Fintech Singapore.

Thailand has launched a program that allows foreign visitors to convert crypto into baht for everyday electronic payments. The Nation reports that the initiative, called TouristDigiPay, is part of broader efforts to revive tourism following a slowdown in arrivals, particularly from China. Deputy Prime Minister and Finance Minister Pichai Chunhavajira will present the details alongside officials from the Finance Ministry, the Securities and Exchange Commission, the Anti-Money Laundering Office, the Bank of Thailand, and the Ministry of Tourism and Sports. The program will operate in a regulatory sandbox to ensure proper oversight and to prevent the direct use of crypto as a payment instrument. To participate, tourists must open accounts with a licensed digital-asset business and an e-money provider supervised by the SEC and the central bank. They will also be required to complete KYC and customer due diligence checks that comply with AMLO standards. Only foreigners temporarily staying in Thailand will be eligible. Spending will take place in baht after conversion, including through QR code payments. Monthly caps will be imposed to reduce financial crime risks. Accounts used at merchants with card terminals will be limited to 500,000 baht per month, while smaller merchants will be capped at 50,000 baht. Cash withdrawals will not be allowed except when an account is closed, and transactions in categories flagged as high risk by AMLO will be prohibited. The Bank of Thailand is also developing a Tourist Wallet to assist visitors who do not have cross-border QR arrangements. It will initially function as an e-money conversion tool, with plans to eventually link to foreign debit and credit cards.     Featured image: Edited by Fintech News Singapore, based on images by drobotdean, sweet_tomato, and notting0127 via Freepik   The post Thailand Rolls Out Crypto-to-Baht Payment Pilot to Boost Spending by Tourists appeared first on Fintech Singapore.

HSBC is preparing one of the most extensive workplace monitoring projects in global banking, pairing thousands of new cameras and biometric scanners with Israeli-built surveillance tools, according to internal documents seen by Reuters. At its new City of London headquarters, the bank intends to install about 1,754 cameras, nearly four times the number at its Canary Wharf base. Biometric scanners are also set to more than double, from 350 to 779, with systems ranging from full-hand recognition to phone-based entry using staff mobiles. The initiative will not be limited to the UK. HSBC is extending the same security model to major sites worldwide, supported by Israeli surveillance firm Octopus. The company’s tools are already in use in London and Hong Kong and are due to be rolled out to India and Mexico. Israel is among the world’s largest exporters of surveillance technology, and Octopus markets its systems in dozens of countries, Reuters reported. The London programme includes artificial intelligence to analyse camera feeds and extra monitoring around trading floors. The budget for the new headquarters’ surveillance has recently been lifted to about US$15 million, the documents show. Adoption of digital entry systems has been uneven. Many UK staff had not switched to biometric or phone-based access by late last year, despite the rules being introduced in 2022. HSBC, which employs more than 210,000 people globally, has said the technology is designed to protect employees, clients and visitors. The security project is overseen by Diane Marchena, global head of protective security, who reports to Chief Operating Officer Suzy White. Alongside these measures, HSBC is introducing its first global return-to-office policy. From October, senior managers will be required to attend at least four days a week. The bank also plans to retain a footprint in Canary Wharf in addition to its new City headquarters. The broader surveillance drive reflects a trend among employers adjusting to hybrid work. Privacy advocates argue that such monitoring risks undermining worker rights and wellbeing, a concern highlighted in recent studies.     Featured image: Edited by Fintech News Singapore, based on image by wichayada via Freepik The post HSBC to Roll Out Expanded Office Surveillance Using Israeli Tech, Reuters Reports appeared first on Fintech Singapore.

Across Southeast Asia, real-time bank transfers are now part of everyday life. In Singapore, Thailand and Malaysia, systems like PayNow, PromptPay and DuitNow are used for everything from buying coffee to splitting the bill after dinner. QR codes are everywhere – stuck to café tills, printed on receipts or shared through chat apps. But while these A2A systems are fast, they’re not always flexible. Rising fraud, limited consumer protections and the domestic nature of these payment rails are starting to reveal their shortcomings. That’s creating space for a less expected alternative: virtual cards. In 2024, A2A and e-wallet payments in ASEAN reached a combined gross transaction value of US $1.14 trillion, a 14% increase year-on-year. Backed by national schemes and real-time settlement rails, these systems have earned public trust by proving useful in everyday situations: paying bills, receiving salaries, or buying groceries – their speed and low cost have made them a reliable part of daily life. But even as volumes grow, so do the limitations. Despite widespread adoption, most A2A payment systems remain domestic in design. Cross-border functionality depends on government or central bank-led linkages, an effort that’s still patchy across the region. Consumer protections are also limited. Once a payment goes through, it’s typically irreversible, even in cases of fraud or error. And the fraud is escalating. In 2024, phishing attacks involving QR codes surged by more than 270% month-on-month in Southeast Asia. Another way to pay Source: starline via Freepik Virtual cards are quietly gaining ground in the areas where A2A systems fall short. Unlike most real-time payment rails, they come with built-in chargeback rights, stronger fraud controls and global acceptance. That makes them a useful tool for managing subscriptions, shopping internationally or segmenting spending inside digital wallets. And while they haven’t had the same policy push as national payment rails, adoption is clearly picking up, especially in markets where people want more protection and flexibility in how they pay. The global virtual card market is projected to exceed US $60 billion by 2030, with Asia Pacific expected to lead the way, driven by growing demand for secure, card-based options that work across borders and channels. Virtual cards have moved from being a nice-to-have to something many people now use every day. Since late 2024, Visa has supported push-to-wallet virtual card provisioning in both Google Pay and Apple Pay, making it easier for users and banks to securely add new cards with spending limits and fraud controls in place. Card funding still plays a big role in mobile payments across Southeast Asia – more than 25% of mobile payment activity in Southeast Asia is backed by credit or debit cards, and 43% of new card applicants in 2023 cited wallet integration as the main reason. Taken together, these trends show that digital wallets and virtual cards are not only converging, but they’re also becoming interchangeable tools for consumers. What makes virtual cards useful? Source: Freepik It’s the control that sets them apart. Virtual cards can be issued instantly, set up with their own spending rules, and limited to a specific category or merchant. That makes it easier to budget, isolate spending, or manage things like subscriptions and travel – all without exposing the main account. Some wallets even let users generate single-use cards for riskier purchases or freeze and replace a card instantly if something goes wrong. These features offer more than convenience: they build confidence, especially when transacting online or with unfamiliar merchants. That same flexibility is now catching the attention of banks and wallet providers, who see virtual cards not just as a feature for users, but as a tool for smarter, safer payments. Why banks and fintechs are paying attention Source: starline via Freepik For issuers, virtual cards offer practical advantages. They can be created or replaced instantly, locked to a single merchant or transaction, and turned off just as quickly. That reduces the risk of fraud and makes them easier to manage than physical cards or bank transfers. They also help providers see spending more clearly. Each card can be set up for a specific purpose – whether it’s for subscriptions, travel or everyday online shopping – helping both users and providers keep spending organised. Dynamic CVVs and tokenisation add security, while real-time transaction data improves categorisation, reduces disputes and offers better visibility on user behaviour. As more payments happen online and across borders, people want tools that offer not just speed, but more control over how their money moves. For banks and fintechs, supporting virtual cards is a way to meet shifting customer expectations, offering added security and personalisation without giving up convenience. What comes next is choice Southeast Asia’s payments mix is getting more layered. As digital wallet usage grows, and commerce stretches across borders, people need different ways to pay – not just faster ones. Virtual cards won’t replace A2A, but they’re offering something A2A can’t: user-level control, broader acceptance and better fallback when things go wrong. That makes them less of a side option, and more part of the main set.       The post Why Virtual Cards Deserve a Bigger Role in Asia’s Payments Story appeared first on Fintech Singapore.

Cloud computing is now a cornerstone of modern banking technology. Its adoption across the global corporate banking sector reflects an industry-wide shift to simplify systems, improve cost efficiency, and ensure more agile, scalable infrastructure. The main drivers behind cloud adoption fall into three categories: business, technical, and compliance. As digitalisation continues, banks are actively reviewing their application landscapes to determine which platforms will best support their transformation goals. Many see cloud as a way to simplify operations, improve cost efficiency, and lay the foundation for future growth. Simplification and consolidation A growing number of banks are looking to simplify and consolidate their technology stacks. This often means moving toward product systems – platforms purpose-built to manage lending and trade finance products that meet regulatory and market demands. By letting specialist systems focus on their core functions – lending, risk, reporting – banks can avoid overloading a single platform and create a modular environment that is easier to maintain and scale. This supports consolidation efforts, such as replacing multiple platforms for bilateral, SME, and syndicated lending with a single unified system. Standardisation is another benefit. A common platform makes it easier to train staff, streamline workflows, and support global initiatives to unify procedures across jurisdictions. Operational efficiency: A priority for CTOs Image credit: marynakushnarova via Freepik CTOs are under pressure to reduce technology costs while also enabling growth. Too much time is still spent on maintaining legacy systems – time that could be better used on innovation and transformation. This is where managed cloud services are proving valuable. Platforms like Finastra’s Lending Cloud Service (LCS), which deliver core lending functionality through a continuously updated model, allow banks to shift away from owning and maintaining software themselves. Instead, they gain access to a scalable, secure platform that evolves in step with market and regulatory changes – without needing to manage upgrades or infrastructure in-house. By reducing the total cost of ownership and freeing up internal teams, this model enables banks to focus more resources on delivering value and improving service. The increasing appetite for clean data Image credit: champpixs via Freepik Banks today require accurate, real-time data – not just for internal decision-making, but to meet growing expectations from regulators, auditors, and business leaders. Clean data is essential to run AI models, produce audit trails, and demonstrate compliance. Technology providers, including Finastra, are expected to supply decision-grade data that flows cleanly across systems – from analytics to compliance. We’re also seeing increasing demand for integrated compliance platforms that consolidate data from across the bank. Regulations such as BCBS 239 have made clear the expectations around data: it must be accurate, complete, timely, and adaptable – particularly during stress events. Rethinking architecture for scale and connectivity Image credit: Freepik Cloud migration offers more than operational efficiency – it enables banks to rethink how their technology is structured and connected. Many are embracing an architectural model known as functional decomposition, where systems are broken down into specialised components that each perform a clearly defined role. This avoids overloading platforms with tasks they’re not designed to handle and leads to greater scalability and resilience. As part of this shift, modern platforms like Finastra’s LCS are designed to integrate easily into a bank’s existing ecosystem through APIs. This allows for seamless connection to internal systems – such as compliance tools, AI models or reporting platforms – while also supporting consolidation. Rather than maintaining separate systems for different lending types, banks can adopt a unified platform that handles them all. By focusing on modularity and integration, banks can simplify their core infrastructure, reduce complexity, and future-proof their operations. Looking ahead Cloud migration is more than a technical upgrade – it’s a strategic decision with far-reaching implications. It reshapes how banks think about operations, compliance, and innovation. The right cloud-based platform doesn’t just reduce costs; it enables scale, flexibility, and a more connected business. LCS reflects this evolution. It offers banks a simplified, continuously updated service model that helps them meet changing market needs without the burden of managing infrastructure. As institutions continue down the path of digital transformation, models like this are set to play a central role in modern banking strategy.     Featured image: Edited by Fintech News Singapore, based on image by Finastra The post Cloud-Based Lending Platforms Gain Ground Amid Push for Simplification, Scale appeared first on Fintech Singapore.