Tag Archives: Asia

World’s first in-school wearable tech savings & payments programme “POSB Smart Buddy” launches in 19 schools

By | August 16, 2017

 Some 6,000 students are participating in the POSB Smart Buddy programme The programme outfits schools with digital payment infrastructure, provides students watches with digital payment and fitness tracking capabilities, and comes with a mobile app for parents   SINGAPORE,16 August 2017 – POSB today celebrates the official launch of a global first – the POSB Smart Buddy programme /… Read More »

Philippines lags Southeast Asia in credit card use

By | August 16, 2017

MANILA – The Philippines lags Southeast Asia in terms of cashless transactions, even as majority of Filipinos prefer it because of safety and convenience, according to a VISA study. In 2016, 9 percent of personal consumption expenditures were done through credit and debit cards, compared to 50 percent in Singapore and 30 percent in Malaysia and 16 percent… Read More »

Citibank Korea Fails to Compensate for Debit Card Illegal Payments

By | August 14, 2017

s Citibank Korea hasn’t compensated customers who use its debit card for the damages for more than 45 days, the financial authorities enforced sanctions against the bank. According to the Financial Supervisory Service (FSS) on August 13, affiliated stores at Paypal in the U.S. were targeted with a BIN attack and numerous cases of information of Citibank Korea’s… Read More »

India – Little progress in smart NID card distribution

By | August 13, 2017

Apparently set to miss the existing December-2017 deadline to provide the country’s all voters with smart national identity (NID) cards, the Election Commission (EC) now says it will do it by June 2018, reports UNB. Though the EC started the distribution of machine readable cards to replace the existing laminated ones among 90 million voters in October 1,… Read More »

Baiduri Bank launches Visa Platinum Debit Card

By | August 11, 2017

“WITH our clients getting increasingly affluent, their lifestyles and appetites have evolved with them. They are more discerning and sophisticated, with an affinity for convenient electronic payments and service.” Pierre Imhof, the Chief Executive Officer (CEO) of Baiduri Bank, underscored this in his welcoming speech at the launching of the bank’s Visa Platinum Debit Card yesterday where he… Read More »

Vietnam – Saigon Co.op, VietinBank sign far-reaching deal

By | August 11, 2017

  HCM CITY — The Saigon Union of Trading Co-operatives (Saigon Co.op) and VietinBank have signed an agreement to leverage their respective strengths to benefit tens of millions of customers. VietinBank will offer Saigon Co.op modern banking services, financing for its projects, working capital, cash flow management, collection, payroll and card payment services, and others. At the signing event… Read More »

Singapore – JOINT NEWS RELEASE BY THE LAND TRANSPORT AUTHORITY (LTA) & TRANSITLINK – TOWARDS A CASHLESS PUBLIC TRANSPORT SYSTEM BY 2020

By | August 11, 2017

 The Land Transport Authority (LTA) and TransitLink are working towards a fully cashless vision for public transport by 2020. This is in line with our Smart Nation efforts. 2.  To realise this vision, LTA and TransitLink will launch a series of initiatives where commuters will no longer use cash to pay for rides or to top up stored-value… Read More »

Philippines – ‘Urgent’ Natl ID bill sent to Palace

By | August 10, 2017

Socioeconomic Planning Secretary Ernesto M. Pernia said on Wednesday that the proposed Unified National ID System Act has already been endorsed to President Rodrigo Duterte for certification as “urgent.” “I am pleased to note that the proposed Unified National ID System Act was endorsed by the Executive  Committee of the Legislative-Executive Development Authority Council for certification by the… Read More »

Foreign cards on horizon, may woo Chinese users

By | August 8, 2017

Foreign debit and credit card companies face a long fight with local electronic payment market leader UnionPay as industry supervision is still evolving and customer needs are diverse, experts said.   US card network Visa has applied for a license from China’s central bank to operate in the Chinese market, it said in an email on Friday. MasterCard,… Read More »

Indonesia – Anti-graft body to grill six witnesses in e-ID card graft case

By | August 7, 2017

Jakarta (ANTARA News) – The Corruption Eradication Commission (KPK) is set to question six witnesses in its investigation into an e-ID card graft case. “The six will be questioned as witnesses in the case against Setya Novanto (SN),” KPK spokesman Febri Diansyah said here on Monday. The six are Kurniawan Prasetyta Atmaja, chief of national identity number and… Read More »

Philippine passport validity extended to 10 years

By | August 3, 2017

Dubai: Good news to Filipinos who endure serpentine queues when applying for or renewing their passport. Philippine President Rodrigo Duterte on Wednesday signed into law the Republic Act 10928 that extends the validity of Philippine passports from five years to 10 years. The law allows Filipinos over the age of 18 years to have passports valid for 10… Read More »

Sri Lanka cabinet approves issuing e-passports under PPP scheme

By | August 2, 2017

Aug 02, 2017 (LBO) – Sri Lanka’s cabinet has approved a proposal to introduce a chip enabled e-Passport where personal particulars of passport holders would be digitally signed and stored in a chip. The cabinet approval for the joint proposal made by Digital Infrastructure Minister and Internal Affairs Minister has been granted to implement the project as a… Read More »

China – Mobile payments are in, cash and card nearly out

By | July 31, 2017

“Alipay or WeChat Pay?” she asked as soon as he finished his lunch. “So you don’t accept bank card? And cash isn’t an option?” Chang Xiaohui, 27, an electrical engineer, counter-questioned the waitress at a Hong Kong-style restaurant in Shanghai. She replied: “Sure we do. I mean, not many people are using bank cards or cash nowadays, right?”… Read More »

India – ORR toll plazas to turn ‘smart’

By | July 30, 2017

Hyderabad: Taking a cue from the National Highways Authority of India (NHAI), the 30 (RFID) enabled toll collection system on the Outer Ring Road. The idea is to reduce the waiting time for motorists at the toll gates and ensure smooth passage. Under the existing toll collection system, motorists have to tender cash at toll gates and seek clearance… Read More »

Com Bank introduces Sri Lanka’s first chip and PIN debit card

By | July 27, 2017

July 27, 2017 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has introduced Mastercard debit cards with chip and PIN technology for the first time to the country. “These cards replace the existing Maestro debit cards with magnetic strips. The new Chip and PIN debit card will minimise the possibility of fraudulent transactions at Point-of-Sale (POS) due to… Read More »