DigiFT, a licensed exchange focused on institutional-grade tokenised real-world assets (RWAs), has raised a total of US$25 million to date following its latest funding round. The firm had previously raised a US$ 10.5 million Pre-Series A funding round in February 2023. The latest round was led by Japan’s SBI Holdings, with participation from Mirana Ventures, Offchain Labs (Arbitrum), Yunqi Partners, Polygon Labs, and senior figures from global technology and financial firms. The company said the funding will support its expansion as an RWA infrastructure provider, aiming to bridge traditional asset management with on-chain finance through regulated tokenised products. DigiFT operates licensed exchanges in Singapore and Hong Kong, facilitating the trading and distribution of RWAs while improving secondary market liquidity, capital efficiency and yield access for both institutional and Web3-native investors. Its platform features strategies in money markets, public mutual funds, U.S. Treasuries and private credit, offered with asset managers including Invesco, UBS Asset Management, CMB International Asset Management and Wellington Management. DigiFT has also listed the Peakwater Volatility Alpha Fund token (pEAK), described as the first institutional-grade tokenised volatility strategy designed to capture cross-asset returns across traditional and alternative markets. Beyond tokenisation, DigiFT has enabled RWAs to be used as high-grade collateral for active trading on digital asset exchanges and embedded RWA yields into payment cards to bring returns into everyday transactions. The firm was recently granted Type 1 and Type 4 licenses by the Hong Kong Securities and Futures Commission. Yoshitaka Kitao “DigiFT has the regulatory discipline, product maturity, and focus on real onchain utility to lead the convergence of traditional finance and Web3. What sets them apart is their focus on enabling real onchain utility for institutional-grade assets—going beyond tokenization to unlock collateral use cases, embedded yield, and secondary market liquidity. This pragmatic approach to infrastructure aligns with the needs of institutional investors, and we’re proud to support their growth across Asia and globally.” said Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings. Henry Zhang “This raise validates the institutional momentum behind tokenised finance—and DigiFT’s unique role in driving it forward. We’re honored to be backed by both leading TradFi players and top-tier Web3 investors. Together, we’re building an open, interoperable capital markets infrastructure for the on-chain economy.” said Henry Zhang, Founder & Group CEO of DigiFT.     Featured image: Edited by Fintech News Singapore, based on image by Na_st via Freepik     The post DigiFT Hits US$25 Million in Total Funding as Japan’s SBI Leads Latest Round appeared first on Fintech Singapore.

The International Finance Corporation (IFC) is investing US$7 million in a Series B round for Mongolian fintech firm AND Global, marking its first equity investment in the country in more than a decade. The funding aims to expand access to finance for small businesses and support job creation in Mongolia. Through the investment, AND Global will scale its technology arm, AND Solutions, which develops products such as document processing, credit scoring and lending systems used in 11 countries. The partnership will also strengthen its local lending platform, LendMN, listed on the Mongolian Stock Exchange. IFC will provide guidance on corporate governance, risk management and responsible lending practices. LendMN currently serves more than 1.3 million registered users, covering over 80 percent of Mongolia’s economically active population. It plays a key role in financing micro, small and medium enterprises, which employ 70 percent of the workforce and contribute nearly 18 percent of GDP. Access to formal finance remains limited, with the SME financing gap estimated at 10.6 percent of GDP. Since 1997, IFC has invested about US$5 billion in Mongolia across sectors including banking, mining, hospitality and services. It has also expanded advisory support to improve the investment environment and foster private sector growth. Khos-Erdene Baatarkhuu “Reaching this milestone is a strong validation of our vision, execution, and growth potential. As a startup born in Mongolia, it reflects the relentless effort of our team—and we take pride in breaking new ground with purpose. Partnering with IFC brings together shared values around innovation and financial inclusion. With its global reach and experience, we’re confident this collaboration will significantly accelerate our ability to scale impact, expand access, and shape the future of finance globally.” said Khos-Erdene Baatarkhuu, CEO of AND Global. Matthieu Le Blan “Mongolia, as the most sparsely populated country, can greatly benefit from digital solutions to expand access to financial services. By promoting tech entrepreneurship and the digitalization of key services, IFC supports job creation, particularly among women and youth. Our partnership with AND Global is an important part of these efforts.” said Matthieu Le Blan, IFC’s Resident Representative for Mongolia.       The post IFC Invests US$7M in AND Global to Strengthen Digital Lending in Mongolia appeared first on Fintech Singapore.

The Bank of Thailand (BoT) will require banks to cap daily digital transfers at 50,000 baht for individual customers as part of new anti-fraud measures. The cap, tailored to each customer’s transaction profile, is meant to slow criminals from moving stolen funds and reduce losses, especially for children and the elderly. The decree also makes financial institutions, e-payment operators, digital asset firms, telecom providers and social media platforms jointly liable for damages from technology crimes unless they can prove compliance with regulatory standards. Effective 8 August 2025, the new rules build on five principles: targeting specific risks, having clear procedures, aligning with Thailand’s context and international standards, and raising public awareness. They extend earlier efforts against mule accounts and add measures such as real-time withdrawal notifications. Mobile banking protections will be tightened through bans on suspicious links, limits on device use, facial recognition with biometric forgery detection, and blocking apps that run alongside risky applications. Banks must also follow stricter Know Your Customer rules when opening deposit accounts, in line with BoT and Anti-Money Laundering Office guidelines. High-risk customers, classified as Black, Dark Grey and Light Grey account holders, will be subject to enhanced due diligence. Financial institutions are required to notify customers of transfers at no cost, block suspicious funds, suspend transactions, bar mule account holders from opening new accounts, and provide rapid fraud-reporting channels at all times. Banks must also offer emergency support for customers who need to exceed the transfer cap. The rules will apply to new mobile and internet banking users by the end of August 2025 and to existing customers by year-end. The BoT said the measures are aimed at strengthening fraud prevention, reducing losses and improving the recovery of stolen funds.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Bank of Thailand to Cap Daily Digital Transfers at 50,000 Baht to Tackle Online Fraud appeared first on Fintech Singapore.

Alchemy Pay has partnered with verification provider Sumsub to integrate its Travel Rule solution across its platform, aiming to bolster compliance as regulatory scrutiny of cryptocurrency transactions grows. The Travel Rule requires virtual asset service providers to share information on transaction originators and beneficiaries, aligning crypto transfers with standards used in traditional finance. The measure is intended to improve transparency and curb money laundering and terrorist financing. With the integration, Alchemy Pay will use Sumsub’s infrastructure to automate secure data exchange with more than 1,800 counterparties connected to networks such as GTR, TRP, CODE and Sygna. The system validates and transmits required information while keeping processes smooth for users. Sumsub’s platform, which supports compliance in over 35 markets, adds to Alchemy Pay’s existing framework of KYC and AML checks, fraud detection and regional licensing. The partnership comes as Alchemy Pay expands its regulatory footprint, having recently secured its 10th money transmitter license in the United States and extending its reach in Europe, the UK, Korea and Southeast Asia.     Featured image: Edited by Fintech News Singapore, based on image by user16766420 via Freepik     The post Alchemy Pay Adopts Sumsub’s Travel Rule Solution as Crypto Oversight Tightens appeared first on Fintech Singapore.

Stripe announced a series of product updates in Singapore as it looks to support global growth for Asian businesses through stablecoin payments and artificial intelligence (AI). The announcements were made at its Stripe Tour Singapore 2025 event, which also introduced new payment methods, the Terminal S710 reader with cellular connectivity, and more than 50 upgrades across payments, revenue, and embedded finance tools. Stablecoins are gaining traction, with 46% of businesses surveyed by Stripe planning to adopt them within two years. The company already processes stablecoin payments in more than 120 countries and has acquired Bridge and Privy to expand its offerings. Earlier this year, it introduced stablecoin financial accounts, now available in over 100 countries including Sri Lanka, Vietnam, and Brunei. Through Bridge, Stripe has also partnered with Visa to enable cardholders to spend directly from stablecoin balances. AI is also expected to reshape commerce. By 2030, 82% of Asian businesses expect to use AI-driven sales channels, and half predict that at least some of their sales will come from these interfaces. Already, 20% are implementing agentic AI, with another 47% preparing to adopt it. Stripe said it has introduced what it calls the world’s first AI foundation model for payments, trained on tens of billions of transactions. The model has been used to improve fraud detection, with early results showing a 64% increase in identifying card testing attacks. Stripe works with a range of regional companies including Aspire, Luckin Coffee, ManusAI, Shoplazza, StarHub, and Zoho. Sarita Singh “Asia is showing extraordinary resilience and focusing on international growth. Between July 2024 and June 2025, over half of our users in the region (54%) sold internationally and we’re seeing cross-border payments surge by over 30% in hubs like Singapore. Stripe is helping businesses to go global, faster, and we expect new technologies like stablecoins and AI to accelerate their growth.” said Sarita Singh, regional head and managing director for Southeast Asia, India, and Greater China at Stripe.     Featured image: Edited by Fintech News Singapore, based on image by specialday_studio via Freepik The post Stripe Bolsters Asia Presence with New AI and Stablecoin Offerings appeared first on Fintech Singapore.

Universal Digital Payment Network (UDPN), Giesecke+Devrient (G+D), and GFT Technologies (GFT) have joined the Commercial Bank Money Token (CBMT) initiative as technical service providers. The project is designed to enable tokenised commercial bank money, facilitating direct and secure transactions between businesses using distributed ledger technology (DLT). The CBMT initiative seeks to establish a scalable and regulatory-compliant framework for digital financial solutions. A proof-of-concept has already demonstrated its potential in real-world applications with commercial banks including DZ Bank, UniCredit and Commerzbank, alongside corporates such as Siemens, BASF, Evonik and Mercedes-Benz. The three firms will contribute onboarding and interoperability services, banking and enterprise system integration, and DLT-based technologies from UDPN. Planned tests cover delivery-versus-payment in supply chain and trade finance, inter-company cross-border transactions, and working capital optimisation, as well as advanced IoT and machine-to-machine payments, both online and offline. The working group also aims to bring more banks and enterprises into the CBMT network to expand its reach and functionality. Abbas Albasha “Stablecoins and tokenised deposits like CBMTs will support the ongoing digitalisation of business process automation and IoT payments. Tailored to the specific needs of the ecosystem, the CBMT initiative will provide the first platform for seamless issuance, management, and operation of tokenised deposit services. We are proud to be part of this initiative of making the financial ecosystem more digital, efficient and secure,” said Abbas Albasha, Senior Strategy Consultant CBDC at Giesecke+Devrient. Florian Becker “Commercial bank money tokens empower corporates to execute digital transfers, fostering fast and efficient financial operations in the digital economy. UDPN and GFT’s engagement in the CBMT initiative reflects our commitment to building a financial technology system that will accelerate global digital transformation,” said Florian Becker, Managing Director APAC & GCC at GFT.     Featured image: Edited by Fintech News Singapore, based on image by user8285578 via Freepik The post UDPN, G+D and GFT Join Pilot for Tokenised Commercial Bank Money appeared first on Fintech Singapore.

SEON, a provider of fraud prevention and anti-money laundering (AML) compliance solutions, has announced that MoneyMe, an Australian digital lender, will adopt its unified platform to strengthen fraud detection as the company continues to expand. MoneyMe will use SEON across its product portfolio, which includes car loans, credit cards and personal loans, to enhance device intelligence, behavioural analysis and second-party fraud detection. The decision followed an assessment of several vendors and reflects MoneyMe’s focus on strengthening risk management while maintaining customer experience. Jonathan Wu “SEON stood out for its flexibility, strong device intelligence and scalability,” said Jonathan Wu, MoneyMe’s Chief Operations Officer and Chief Product Officer. “Its platform will help us consolidate tools, reduce complexity and enhance both fraud prevention and operational efficiency as we grow.” The rollout will include fraud prevention and credit decisioning support through SEON’s data engine. MoneyMe will also use SEON’s integrated dashboard to gain visibility across different risk areas and enable coordination between its fraud, risk and compliance teams. Troy Nyi Nyi “MoneyMe is the kind of forward-looking fintech we built SEON for,” said Troy Nyi Nyi, Senior Vice President and General Manager for APAC at SEON. “By combining device intelligence, digital footprinting and real-time compliance in one centralised command centre, we’re helping them to both stop fraud before it starts and scale securely.” MoneyMe intends to develop its fraud detection approach further by adding additional data points to improve credit modelling, while also aiming to achieve cost savings in know-your-customer (KYC) and onboarding processes. The company plans to extend its use of SEON to include transaction monitoring in later phases.   Featured image credit: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post MoneyMe to Implement SEON Platform for Fraud and Risk Management appeared first on Fintech Singapore.

Nexus Global Payments (NGP) has appointed Andrew McCormack as its inaugural CEO following an extensive global search process facilitated by an international talent acquisition firm. NGP is a not-for-profit organisation established by the initial first mover central banks. This includes the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore and the Bank of Thailand, to operationalise and manage the Nexus multilateral instant cross-border payments scheme. McCormack has more than two decades of senior leadership experience across global payments, digital infrastructure, and financial innovation. He most recently served as COO of Etihad Payments, the national payments entity of the United Arab Emirates, where he played a key role in modernising the country’s domestic payment infrastructure. Prior to that, he was the founding Centre Head of the BIS Innovation Hub in Singapore and Chief Information Officer at Payments Canada, where he led the delivery of the country’s real-time payments platform. Based in Singapore, McCormack will oversee NGP’s strategic direction, operations, and international growth as it implements a modern blueprint for cross-border interoperability. Benjamin Lee “NGP and its transition Board are delighted to welcome Andrew as its inaugural CEO. Andrew brings deep expertise and a strong track record in the faster payments space, combined with proven experience in building and leading early-stage growth institutions. This makes him uniquely well-qualified to lead NGP,” said Benjamin Lee, Interim Director of NGP. “Nexus will dramatically transform cross-border payments, and it is my honour to be selected to lead this important initiative. The design phase is complete, and the focus is now on building a world-class company and payments platform for the future,” said Andrew. For more on Andrew McCormack’s views on the region’s payments landscape, watch our earlier Fintech Fireside Asia discussion: Is Southeast Asia Entering its Golden Era of Payments?     Featured image: Edited by Fintech News Singapore, based on image by vart_dant via Freepik The post Andrew McCormack Appointed Inaugural CEO of Nexus Global Payments appeared first on Fintech Singapore.

Aspire has launched Aspire Yield, a new investment feature within its business account platform aimed at giving Singapore’s small and medium enterprises (SMEs) access to better returns on idle cash. The rollout follows AFT SG 2, part of the Aspire Group, securing a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) in April 2025. The license enables the company to offer regulated investment solutions, with funds managed in partnership with Fullerton Fund Management for both Singapore and US dollar investments. Aspire said the partnership is designed to provide the stability and performance needed to turn idle balances into capital growth. Through Aspire Yield, businesses can access institutional-grade money market funds with no minimum investment requirement and next-business-day liquidity. SMEs can earn up to 2.04% on Singapore dollar balances and 3.88% on US dollar balances, compared with traditional savings rates that typically range from 0.01% to 0.25% per year. Early data from Aspire Yield’s beta showed that about 55% of funds now invested through the platform were previously sitting idle in traditional business accounts, generating minimal returns. Aspire added that the product is designed for operational flexibility, with no lock-up periods and funds remaining accessible as business needs change. Andrea Baronchelli “That’s a staggering statistic and shows just how much capital small businesses have been leaving on the table. Aspire Yield changes this by giving every eligible Singapore business access to the same high-quality money market funds that are available to institutional investors, seamlessly integrated into their daily financial operations.” said Andrea Baronchelli, CEO and Co-founder of Aspire. Mark Yuen “Small and medium enterprises are the backbone of Singapore’s economy, yet they’ve historically faced barriers in accessing institutional-quality investment solutions. Our partnership with Aspire group democratises access to professional fund management, enabling SMEs to optimise their working capital with the same calibre of investment solutions traditionally reserved for larger businesses.” said Mark Yuen, Chief Business Development Officer, Fullerton Fund Management.   The post Aspire Launches Yield Solution for Singapore SMEs to Boost Idle Cash Returns appeared first on Fintech Singapore.

Global expansion is high on the agenda for merchants today, yet the reality is far from simple. Setting up local entities, adapting to fragmented payment systems, and navigating diverse regulations can turn opportunities into frustration. This challenge is especially visible in emerging economies, where growth is fastest but the barriers to entry are steep. Eduardo de Abreu, Vice President of Product at EBANX, explains: Eduardo de Abreu “Based on data from World Data Lab, over the next 10 years, we are going to see almost 700 million people joining the consumer class (people who spend more than US$12 per day) in emerging markets. This is massive in terms of potential growth and addressable markets.” Unlike developed markets, they tend to rely on localised payment rails like mobile wallets and alternative payment methods (APMs). Without integrating these digital payments, even the most ambitious cross-border strategies can stall before they start. This is the reality that EBANX is spotlighting at the APAC Edition of its Payments Summit in Macau, running from 28 to 30 August 2025. Connecting APAC Merchants to the Next Frontier of Payments Now in its third consecutive year in APAC, the EBANX APAC Payments Summit has previously been held in Bangkok, Thailand, in 2024 and Sanya, China, in 2023. The summit itself is in its eighth year, previously taking place in the United States, Spain, Brazil, and Mexico. Choosing Macau as the host city is both strategic and symbolic. As a growing hub for regional collaboration and innovation, Macau reflects EBANX’s deeper commitment to APAC and its merchants, offering an ideal location to unite merchants and partners across the region. This year’s agenda aims to give participants a clear, strategic view into new opportunities for merchants expanding into Latin America, Africa, and more high-growth regions. The summit will spotlight Brazil’s Pix Automático, Latin America’s gaming market growth, the rise of digital wallets and stablecoins in cross-border payments, and Africa’s expanding payment rails. The lineup features a powerhouse mix of voices shaping the future of global payments, including João Del Valle, Co-Founder and CEO of EBANX; Jonathan Haigh, Chief Product Officer at World Data Lab; Jason Maweu Masai, Head of Digital Product at M-PESA; and Eric Barbier, CEO of Triple-A. Emerging Markets at the Center of the Conversation The EBANX APAC Payments Summit will focus on select main themes. Firstly, it will bring forth timely insights on payments innovation and digital commerce, from Brazil’s Pix to Africa’s local schemes and Latin America’s fast-growing gaming economy. The Summit will dive into what makes Latin America one of the most dynamic gaming markets in the world: a mobile-first audience, strong community-driven engagement, and a complex mix of cards, instalments, digital wallets, and even cash payments. Interestingly, many alternative payment methods were never designed with merchant purchases in mind. Yet, their deep integration into daily life has made them a dominant option for online shopping, especially so in countries where access to cards and bank accounts remains limited. Source: Beyond Borders 2025, EBANX Another highlight will be a deep dive into Pix Automático, launched in June 2025 as a major evolution of Brazil’s most-used payment system. Designed for recurring transactions, it offers merchants access to more than 60 million Pix users who do not hold credit cards. Eduardo adds on, “Card penetration is not the same as card acceleration. We do see people with higher access to cards, but the credit component is still limited, like US$50 as a limit. ” Beyond Latin America, the Summit will explore Africa’s payments landscape, highlighting domestic schemes such as Verve in Nigeria. These solutions are driving financial inclusion and e-commerce adoption in some of the continent’s fastest-growing economies. Stablecoins will also take centre stage, with contributions from Triple-A on how it could rewrite the rails of cross-border digital commerce. Tax and regulatory updates in Latin America is another highlight. When asked about the compliance challenges that APAC merchants face when expanding into LATAM and how EBANX helps navigate them, Fernanda De Fino, Director of Global Risk and Compliance at EBANX, shared, Fernanda De Fino “This is what we provide for the best, that is, solving the complexity. In terms of compliance, we have a strong team with deep knowledge in the local market, that could navigate it and facilitate the merchant operation there.” The APAC edition of the summit is indeed a forward-looking forum designed to anticipate what’s next for the industry. It will unlock opportunities in non-obvious markets, showcase breakthrough technologies, and help merchants understand the future of payments across rising economies. Why APAC Matters in EBANX’s Multi-Market Expansion Although EBANX currently processes payments locally in India, the company itself supports around 100 APAC merchants, including for global platforms like AliExpress, Canva, and Weverse. With a single integration, merchants can access 29 countries and leverage more than 200 local payment methods. EBANX handles settlement, compliance, and cross-border processing, allowing companies to focus on market growth. Notably, on 1 August 2025, EBANX received its Major Payment Institution (MPI) license from the Monetary Authority of Singapore. Fernanda elaborated on the milestone, “We have been granted by the MAS, as an MPI (Major Payment Institution). EBANX is the first, as of now, the only Brazilian company that has this license here in Singapore. It represents our commitment to regulatory compliance and the security that we offer to our merchants and also to our clients.” The license builds on EBANX’s recent strategic steps in Asia, such as its partnership with YES BANK and the appointment of a country director to lead its operations in India. Where Merchants Gain the Edge in Global Commerce In an era where cross-border commerce is being reshaped by real-time payments, alternative payment methods, and rising consumer markets, APAC merchants have more competition than ever. In tandem, regions like South Asia, Africa, and Latin America are set to see significant digital commerce growth, driven largely by the adoption of local payment methods. The EBANX APAC Payments Summit offers a rare vantage point into these shifts, combining market intelligence, live case studies, and access to on-the-ground players from across these high-growth economies. When queried about various payment methods across different regions and how to balance innovation with fraud prevention and compliance, Fernanda dives in, “When you know the market, when you know how the payment methods work, when you have a local team that is also a consumer, you can prevent fraud and be compliant with regulations easily. EBANX is ahead of the game since the beginning, and this is our footprint in the region.“ For APAC merchants with global ambitions and the readiness to meet consumers on their own payment terms, this Payments Summit, due to be held at the prestigious Karl Lagerfeld Hotel, is where market intelligence meets market access. It’s where you leave with the strategies and insights that make it happen. Featured image by EBANX on EBANX The post EBANX’s Payments Summit Heads to Macau, to Spotlight Emerging Market Opportunities appeared first on Fintech Singapore.

Indian payments firm Juspay has entered into a partnership with Outpayce from Amadeus to support global travel businesses with more flexible payment options. Under the agreement, Juspay will be integrated into the marketplace of the Outpayce Xchange Payment Platform (XPP), which connects travel companies to more than 300 acquirers and local payment methods worldwide. The integration is expected to help airlines, hotels and other travel providers activate local payment methods through a single connection, cutting down on technical complexity and speeding up market entry. The collaboration also aims to improve checkout experiences by offering customers the ability to pay through preferred local methods while enabling merchants to build tailored payment workflows, including tokenisation in India. Founded in 2012 and headquartered in Bangalore, Juspay processes more than 200 million daily transactions and works with global enterprises and banks. Outpayce, a wholly owned subsidiary of Amadeus, focuses on delivering regulated travel payment services and operates the XPP to simplify transactions for travel businesses worldwide. Sheetal Lalwani “At Juspay, we believe payments should be invisible – simple and seamless for the customers, yet deeply optimized under the hood. Outpayce shares this philosophy, and together, we aim to empower travel companies to offer fast, intuitive, and reliable payment experiences that scale globally while adapting locally.” said Sheetal Lalwani, Co-founder & COO at Juspay. Damian Alonso “We are excited to welcome Juspay into our partner ecosystem. By integrating Juspay’s payments technology platform into XPP, we aim to deliver the best payment journeys for both travelers and travel merchants around the world.” said Damian Alonso, Head of Commercial and Partnerships at Outpayce.     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post Indian Fintech Juspay Partners with Outpayce to Simplify Travel Payments appeared first on Fintech Singapore.

CIMB Singapore has launched CIMB FlexiPay, which it says is the first revenue-based loan of its kind in the market. The new product is designed to help small and medium-sized enterprises (SMEs) better manage cash flow through repayments that adjust to daily revenue. Businesses repay a fixed percentage of their daily deposits, known as a holdback rate. For example, if a company sets a 5 percent holdback and earns S$1,000 in a day, S$50 would be deducted. No repayment is required on days without revenue. CIMB said borrowers will pay a single upfront fee, with no interest, prepayment penalties or late charges. The entire process is fully digital, without the need for physical forms or manual submissions. “With CIMB FlexiPay’s pay-as-you-earn structure, SMEs gain flexibility, transparency and control in managing their financing. This innovation reflects our commitment to rethinking traditional banking and supporting businesses with solutions that truly adapt to their cash flow realities. By removing traditional barriers and offering a seamless digital experience, we aim to help businesses grow with confidence.” said Benjamin Tan, Head of Commercial & Transaction Banking, CIMB Singapore.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik   The post CIMB Singapore Launches Revenue-Based FlexiPay Loan for SMEs appeared first on Fintech Singapore.

Payments firm Payoneer has announced a partnership with Stripe to expand its online checkout services for cross-border small and medium-sized businesses (SMBs) that sell directly to consumers. The rollout will begin in Asia Pacific markets, including China and Hong Kong, before expanding further. Merchants using Payoneer Checkout will be able to accept a wider range of payment options such as Buy Now Pay Later services from Affirm and Klarna, as well as digital wallets like Apple Pay and Google Pay. Since launching three years ago, Payoneer Checkout has scaled from zero to nearly US$1 billion in run-rate annual volume. For the 12 months to June 30, 2025, it generated US$30 million in revenue, more than double the previous year. The partnership aims to expand payment options for SMBs selling direct-to-consumer via their own e-commerce webstores, improve acceptance rates, reduce fraud, and boost customer conversion. Adam Cohen “We are committed to simplifying cross-border online trade for SMBs. This partnership with Stripe is a strategic step in our journey to expand our Checkout offering and deliver a best-in-class user experience at scale. By combining Payoneer’s local market distribution and expertise with Stripe’s exceptional checkout technology, we’re combining the strengths of both companies to deliver unmatched value to our customers.” said Adam Cohen, Chief Growth Officer, Payoneer.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik     The post Payoneer Taps Stripe to Enhance Payment Acceptance for Small Businesses appeared first on Fintech Singapore.

Bank of Singapore has launched the Family Office Catalyst, a new service in Singapore for ultra-high net worth individuals seeking professional wealth management without setting up a dedicated single-family office. The solution offers advantages typically linked to such structures, including access to specialised investment expertise and eligibility for tax exemptions, subject to conditions under Sections 13O and 13U of the Income Tax Act. Under the arrangement, the bank is appointed as fund manager of an investment vehicle with at least US$20 million in assets, managed on either a discretionary or advisory basis. This structure allows clients to benefit from professional management while qualifying for tax incentives, without the administrative costs of running their own office. The launch comes as family offices in Asia Pacific grapple with rising operational expenses and growing demands for technology platforms, challenges highlighted in a 2024 McKinsey report. Clients will also have access to the bank’s wealth planning and trust services, and may later transition to a single-family office structure if they choose. Ultra-high net worth clients, defined as having US$250 million and above in net worth, remain a strategic focus for Bank of Singapore, with assets under management in this segment recording double-digit growth in 2024. Lim Leong Guan Lim Leong Guan, Global Head of Financial Intermediaries, Family Office and Wealth Advisory at Bank of Singapore, said, “Our Family Office Catalyst solution addresses these issues by allowing these individuals to tap into the deep expertise of our portfolio management teams to manage their assets and still qualify for tax incentives, supplemented by the Bank’s comprehensive wealth management ecosystem. We believe this presents a cost-efficient and holistic alternative solution to setting up their own SFOs.”     Featured image: Edited by Fintech News Singapore, based on image by bugphai via Freepik     The post Bank of Singapore Introduces ‘Catalyst’ for Ultra-Rich Wealth Management appeared first on Fintech Singapore.

More shoppers are paying digitally in Singapore’s heartlands, helping merchants lift their Saturday earnings by 50% since DBS brought back its PayLah! SG60 cashback campaign last month. The increase outpaces the 40% boost seen in a similar programme last year. The campaign, launched on 12 July, offers up to S$3 cashback for the first 160,000 people who scan to pay with PayLah! every Saturday at more than 22,000 participating shops, wet markets and hawker stalls. In its first month, over 400,000 Singaporeans and residents redeemed about 800,000 rewards, pointing to strong repeat use. Wet market stallholders have seen the sharpest gains. The number of customers paying via PayLah! on Saturdays has tripled, while overall spending has nearly doubled, continuing the trend observed during last year’s campaign. The cashback programme is part of DBS’s SG60 initiative, which sets aside S$23 million in savings and support for customers and beneficiaries in Singapore. Compared with the “POSB Support Our Heartlands” campaign in August 2024, the rewards pool has doubled, allowing more redemptions each weekend. To drive further traffic, DBS has partnered with gamification platform Sqkii on the #HuntTheMouse – DBS SG60 Edition. The #HuntTheMouse DBS SG60 Edition game, designed to drive traffic to heartland locations across Singapore. Running from 14 August to 25 September, the game hides 200 gold coins worth S$120,000 in heartland areas, with local businesses integrated as hunting stops or in-game pop-ups. More than 30,000 people joined on the first day, with Jurong, Toa Payoh and Bedok among the busiest spots. Beyond cashback, the bank is also working to help small businesses expand their reach. In April, it became the first Singapore bank to support livestream selling, launching workshops under its Heartland Merchant Banking Package with TikTok and Boom Media. Two workshops and three live sessions trained more than 70 participants in content creation, live presentation and customer engagement. Stallholders say the initiative has brought in both regulars and new shoppers, including older customers who are more willing to try digital payments. Families have also been spending more during weekend visits. Lim Him Chuan “As a homegrown bank, we are dedicated to supporting and celebrating the everyday heroes of our heartlands – the merchants who are an integral part of Singapore’s culture and heritage. Through fun and rewarding initiatives like our weekly SGD 3 cashback and latest Hunt The Mouse game, we aim to encourage more Singaporeans to explore the unique charm of their neighbourhoods and, more importantly, support the local businesses that bring vibrancy and life to our heartlands,” said Lim Him Chuan, DBS Singapore Country Head.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik     The post DBS Cashback Push Spurs 50% Rise in Weekend Sales at Heartland Merchants appeared first on Fintech Singapore.

Vietnam’s e-commerce market is one of the most dynamic and fastest-growing in Southeast Asia, continuing its upward trajectory and showing signs of evolution and maturity. Key trends shaping the sector include the rapid adoption of “shoppertainment”, the surge in cross-border transactions, and tighter regulatory oversight to address fraud risks, protect consumers, and ensure fair competition. E-commerce surges driven by “shoppertainment” Sales on four e-commerce platforms in Vietnam, namely Shopee, Lazada, Tiki, and TikTok Shop, reached VND 202.3 trillion (US$7.8 billion) in H1 2025, representing a nearly 42% year-over-year (YoY) increase, according to data from Metric.vn, an e-commerce market research platform from Vietnam. Total sales volume also increased, growing 25.4% YoY to 1.9 billion products. Metric.vn expects e-commerce sales to grow in Q3 2025, increasing by 21% in value quarter-on-quarter (QoQ) to reach VND 122.8 trillion (US$4.7 billion). Consumption output is also set to increase, totaling around 1.2 billion products, up 27% QoQ. In H1 2025, TikTok Shop led in growth with a 69% YoY surge in revenue. The platform also saw its market share increase from 29% to 39%, underscoring the momentum of the “shoppertainment” model. This model enables brands to sell directly through video content, allowing businesses to entertain customers while they shop. This makes the shopping process more interactive and enjoyable, which in turn increase sales and customer loyalty. Increased competitive pressure This year, Shopee maintains its market leading position, boasting a 58% market share in the first half of 2025. However, this marks a decline from 63% in H1 2024, signaling increasing competitive pressure. Revenue growth was also more modest, at 16% YoY. Lazada and Tiki also faced challenges, with sale dropping 48% and 63%, respectively, alongside further market share declines. Competition is also intensifying at the seller level. The number of online shops fell 6% YoY, and the number of shops generating orders in H1 2025 dropped by over 80,000 compared to H1 2024, and by more than 55,000 compared to H2 2024. Metric.vn attributes this to market consolidation, with activity increasingly concentrating on large-scale sellers capable of maintaining steady order flows. Official brand stores are also gaining in prominence, now driving a significant share of e-commerce platform revenues. Although these shops account for a minor 3.4% of total shops, they contribute up to 28.7% of total revenue on Shopee and TikTok Shop, reflecting growing consumer preference for authentic stores that ensure product quality and service reliability. Cross-border shopping on the rise Another rising trend this year is cross-border e-commerce. In H1 2025, imported goods recorded sales of VND 7.5 trillion (US$285 million), with more than 164 million products sold, marking a nearly 7% YoY increase. This builds on growth already observed in 2024. Last year, more than 324.1 million products arrived in Vietnam, up nearly 38% YoY. These products generated sales of VND 14.2 trillion (US$564.5 million), representing a remarkable 43% YoY increase. E-commerce exports are also on the rise. Access Partnership, a research organization on e-commerce, estimates that the value of Vietnam’s business-to-consumer (B2C) e-commerce exports reached VND 86 trillion (US$3.5 billion) in 2023 and are projected to grow 1.7 times through 2028 to VND 145.2 trillion (US$5.8 billion). Micro, small and medium enterprises (MSMEs) are set to contribute significantly, accounting for an estimated 25% of that value. Tighter regulatory oversight The growth in cross-border e-commerce has prompted new regulatory measures. In January 2025, Vietnam Law and Legal Forum of the Vietnam News Agency reported that the Ministry of Industry and Trade (MoIT), through its E-commerce and Digital Economy Agency, was working on an e-commerce law, aiming to make online trade more sustainable, protect consumers, and ensure that foreign sellers meet the same obligations as domestic ones. This law would require any foreign business selling into Vietnam to obtain a license from the MoIT and establish a representative office in Vietnam or appoint a legal entity in Vietnam as their authorized representative. These representatives would be responsible for ensuring consumer rights, verifying seller information, and providing compensation before disputes escalate. The law would also mandate that foreign goods and services sold in Vietnam meet local product standards, technical requirements, and safety regulations. Foreign e-commerce platforms would also have to share seller information with Vietnamese regulators and comply with a government-approved list of goods allowed for import via e-commerce. The ministry plans to submit the draft law for consideration in October 2025. Separately, a new decree, effective July 01, 2025, requires e-commerce and digital platforms that process payments, whether domestic or foreign, to withhold value-added tax (VAT) and personal income tax from individual sellers who use their platforms. According to law firm Baker and McKenzie, the rule applies to all sellers, both residents and non-residents, with tax residency determined based on official personal income tax regulations. Sellers are required to supply accurate identification information, and cooperate with platforms to ensure correct tax withholding. E-commerce platforms, meanwhile, must declare and pay these taxes monthly to the tax authorities. They must also provide annual tax withholding certificates to sellers, store transaction and account data, and share information with tax authorities when requested.   Featured image: Edited by Fintech News Singapore, based on images by Kajikom and Frolopiaton Palm via Freepik The post Vietnam’s E-Commerce Market Rises on Shoppertainment Surge, and Cross-Border Trade appeared first on Fintech Singapore.

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.