Payments

The Mongolian national payment card has teamed up with a HK provider to be accepted in Hong Kong; the move is led by Mongolbank.

The bank's regional Apac co-head of trade finance has said he is leaving to take a break; Aditya Gahlaut, has started as regional head, Asia, global trade solutions, at HSBC; the bank has also made changes in its regional payment leadership team.

While wider migration has been adopted across banks, corporate clients are being encouraged to follow suit to create a standardised payment ecosystem.

Jennifer Barker, global head of treasury services and depositary receipts at BNY, recently discussed cross-border and instant payments, collaboration, Swift, AI, trade finance, and more, with CT.

Retail sales and industrial output have beaten expectations for January and February, as China's leadership eyes 5% GDP growth again; meanwhile global suppliers are showing optimism for the year ahead, according to a survey.

Multiple payment fintechs have announced expanded offerings across Apac, reflecting a growing cross-border payment space that might challenge traditional players, especially for SMEs.

M-DAQ Global’s recently obtained a CMS license from the MAS, helping expand its FX services.

Ben Brooks is replacing Brent Henley at the Sydney-headquartered traffic information firm, which, in addition to Australia, has operations in the UK, Canada and Brazil.

A swift change in tone from US president Donald Trump around tariffs show how his words and actions are having a volatile impact on Asia Pacific's currencies; they are likely to be on the defensive this year.

US president Donald Trump appears to be moving ahead with tariffs on Canadian and Mexican goods, and additional tariffs on China. China has since placed retaliatory tariffs on many US products including soybeans, chicken and dairy products, of up to 15%.

The global payment firm believes that Apac will "drive the global acceleration in money movement in 2025".

Chen will focus on growing Mastercard’s market presence and exploring new opportunities in the digital economy.