Tag: payments

The cooperation includes USD and CNY settlement and transfer services in Hong Kong and mainland China.

Yang Wen, Swift's head of North Asia, shared his views with CT on how ISO 20222, fraud detection, AI-driven analytics and digital payments, including on wallets, are evolving in Asia Pacific.

Amid an array of digital initiatives in the region, Apac cross-border payments are expected to hit $24 trillion by 2033; B2B and B2C payments are leading the way.

The firm has added Thailand, Indonesia, Malaysia, Vietnam and Turkey to its network. There are more businesses and consumers increasingly using digital payments across Apac.

Mallela will join from JP Morgan in May and will be based in Singapore.

Philippines’ fintech GCash's wallet app is teaming up with Google Play for payments; the method uses biometric verification.

CT recently caught up with Manoj Dugar and Yvonne Yiu, HSBC’s Apac regional co-heads, global payments solutions, about how payments are being impacted by tariffs, AI, cost pressures, differing systems, and the desire for speed and interoperability.

A study has revealed settlement delays, disproportionate fees, and fragmented regulations are stifling SME growth across Asean despite their central role in trade.

The markets in Asia added are: Japan, India, Pakistan, the Philippines, Bangladesh, Thailand, Vietnam and Nepal; the UAE in the Middle East has also been added.

The move by the global payment and treasury management firm follows the acquisition of Transfar Pay from the Transfar Group.

Payment Connect, which currently involves 12 financial institutions, links Hong Kong's FPS with China's IBPS, and went live on June 22.

The licence allows the global payment firm to directly partner with local firms.