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Asia
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Cross-border PaymentsGlobal Remittances May Fall By $109B In 2020
If it takes a year to contain the COVID-19 pandemic and reopen economies, global payments could fall by as much as $108.6...
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B2B PaymentsB2B Payments Deterioration Eyed For Asia
For global traders, emphasis continues to be placed on the urgency for corporates in a strong financial position to support their supply...
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BankingHSBC To Restart Restructuring, Eyes Deeper Job Cuts
The biggest reorganization in HSBC’s history could get even larger as more cuts are requested by the board following the economic fallout...
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InvestmentsSingapore’s Ninja Van Delivery Startup Raises $279M
Parcel delivery startup Ninja Van, working in overdrive during the pandemic, ended a funding round with $279 million. Ninja Van’s clients include...
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InternationalCoronavirus Cases Climb; Dow Sinks Along With Mortgage Rates
As the Coronavirus spreads beyond the borders of Asia, its effects are casting a widening shadow that is being felt in just...
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InvestmentsAsian Food Delivery Firm HungryPanda Raises $20M
Online food delivery company HungryPanda has raised $20 million in a funding round led by Antoine Nussanbaum from Felix Capital and Laurel...
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B2B PaymentsDeutsche Bank To Help Sri Lanka With Digital FX
Deutsche Bank announced on Tuesday (Feb. 18) that it would improve its Sri Lanka operation with the launch of a new digital...
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InternationalHSBC Reorganization Slashes 35K Positions, $100B Assets
Europe’s biggest bank by assets, HSBC, is slashing 35,000 jobs and $100 billion in assets as it moves to streamline business functions...
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CryptocurrencyCrypto Fraud Scores More Than $4B In 2019
The cost of crimes involving bitcoin and cryptocurrency hit $4.3 billion in 2019, according to Chainalysis and The Wall Street Journal, which...
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MastercardMastercard Invests In Asia’s Pine Labs For Electronic Payment Options
In order to accelerate the use of electronic payment options in Asia, Mastercard has invested in merchant commerce platform Pine Labs, according...
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B2B PaymentsJPMorgan Targets Smaller Companies In Japan
JPMorgan Chase is introducing a new initiative in Japan, where it is actively vying for business from mid-sized companies, according to a...
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RetailRetail Sales Plunge In Hong Kong
With visitor arrivals to Hong Kong dramatically falling, the financial center’s retail sales registered a double-digit drop in November. Retail sales by...
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InternationalHow Tariffs Lead Toymakers To Redraw Asia’s Supply Chains
Importers around the world continue to reel from ongoing trade disputes that are redrawing supply chains — perhaps permanently — throughout Asia,...
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RetailEstee Lauder Agrees To Buy Asian Beauty Brand
In what is reportedly its first acquisition of an Asian beauty brand, Estee Lauder Cos. has agreed to purchase two-thirds of Dr....
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VISAVisa, Marqeta Team To Boost FinTech Expansion Across Asia Pacific
Visa and Marqeta are teaming to ease global expansion of FinTech firms and digital card issuance in Asia-Pacific. Matt Dill, Visa’s global...
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InternationalWestern Union Opens Platform To Asia Affiliates
Global payment services firm Western Union is expanding its cross-border platform into Asia, the company said in a press release on Wednesday...
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B2B PaymentsTop Banks Adjust Asia Strategy To Support Corporate Clients
Some of the world’s largest banks are adjusting their strategies in Asia in order to strengthen their support of corporate and small...
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InvestmentsGrab Continues Asian Expansion With Foray Into Vietnam
Ride-hailing company Grab, which recently announced a $2 billion expansion plan in Indonesia, said it was going to invest “several hundred million...
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InternationalHSBC Axes CEO Flint In Effort To Speed Growth
In fewer than 18 months, HSBC’s chief executive officer John Flint is out, The Financial Times reported on Monday (Aug. 5). The...
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InvestmentsSoftBank Ventures Asia Notches $270M To Fund Startups
The Seoul venture capital division of Japanese multinational holding company SoftBank has raised $270 million, or 317 billion won. The new fund...
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InternationalNew China Guidelines Increase Foreign Business Opportunities
The world’s second-largest economy wants to make business transactions easier, from nurturing private enterprises to widening market access. The 30-page draft guidelines...
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InvestmentsGrab Backs UK Startup Splyt Technologies
In a move that will extend the reach of its services outside of Southeast Asia, Grab has extended a partnership with Splyt...
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Security & FraudFormer JPMorgan Asia Executive Charged In Hiring Scandal
A former JPMorgan Chase executive was charged in Hong Kong for bribing an executive of another firm by offering his son a...
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LoansBanks Tightened Real Estate, Credit Card Borrowing Standards In Q1
Standards on commercial real estate loans and credit card borrowing were tightened by U.S. banks during the first three months of the...
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B2B PaymentsStandard Chartered Broadens Biz Banking Services Across Asia
Standard Chartered is spreading the availability of some of its corporate financial services across Asia. A press release Monday (April 15) said...
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RetailVirtual Reality: 5G Retailers’ Secret Sauce?
Out of the haze of uncertainty emerged a new mobile network, and from the new mobile network came new retail applications and...
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B2B PaymentsAsia’s Corporates Driving Treasury, Banking Digitization
Large corporates across Asia are driving digital transformation of banking and treasury management in the region, according to new analysis from Greenwich...
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Fintech InvestmentsLine To Expand Into Payments, FinTech To Avoid Complacency
Line, the Asian messaging company majority owned by Naver, the South Korean Internet search company, is expanding its business into payments and...
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B2B PaymentsBeehive Launches Supply Chain Finance In Asia
Business financing platform Beehive is expanding across Asia through a new banking partnership. The company announced on Saturday (Feb. 9) that it has...
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Security & FraudWirecard Denies New Fraud Allegations Amid Decline In Shares
Wirecard, the German-based payments company, saw its stock tank again Thursday (Feb. 7) after the Financial Times ran a new report alleging...
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InternationalFinancial Firms Form FinTech Cooperation Committee In Asia
To help FinTech startups, banks, and institutions exchange expertise, financial firms formed the Fintech Cooperation Committee in Singapore. Approximately 60 financial institutions...
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B2B PaymentsTravelstop Embraces Mobile-First Asia For Launch Of T&E App
Corporate travel and expense report management company Travelstop has launched throughout Asia, with the iPhone playing a key part in its growth...
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MobileWhat’s The Reward For Early 5G Deployment? Asia Will Soon Find Out
South Korea is taking an early lead in deployment of 5G, with three of the country’s telecoms recently deploying the service. That...
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POS InnovationJCB Debuts QR Codes In South Asia
JCB subsidiary CB International has rolled out a new EMV QR code payment service that will allow the cardholder to make contactless...
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CryptocurrencyLack Of Insurance Hurts Crypto’s Push To Go Mainstream
Adoption of cryptocurrency by large fund managers is being hurt by the difficulty cryptocurrency exchanges and traders located in Asia are having...
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Cross Border CommerceRipple, Finablr To Launch Asia X-Border Remittances
UAE Exchange, the United Arab Emirates-based company, and Ripple, the blockchain technology company based in the U.S., are gearing up to launch cross-border...
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Cross Border CommerceSWIFT Successfully Tests Instant X-Border Payments
SWIFT announced Sunday (October 21) successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore,...
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RidesharingUber Works On Creating Bikes And Scooters
Following its acquisition of JUMP Bikes, Uber is looking to create its own versions of scooter and bikes. The company is bringing...
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Partnerships / AcquisitionsDidi Chuxing Spinoff Buys Hiservice
Didi Chuxing spinout Xiaoju Automobile Solutions (XAS) announced on Tuesday (Aug. 14) that it has acquired Hiservice, a company that provides after-service...
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Voice ActivationSonos CEO Says Google Assistant Integration Should Come Before Holidays
Sonos, the newly-public smart speaker company, which debuted on the Nasdaq Thursday (August 3), is gearing up to roll out integration with...
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InvestmentsSecoo Gets $175M Investment From L Catterton Asia, JD.com
On Tuesday (July 10), L Catterton Asia, the Asian unit of consumer-focused private equity firm L Catterton, and Chinese retailer JD.com announced...
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Bank RegulationIn Asia, Finance Trade Groups Advocate For FinTech In Regulatory Efforts
Financial firms have their work cut out for them when battling the bad guys, trying ensure that funds go where they need...
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InternationalGrab CEO: Venture Capital Efforts To Eye ‘Next Generation’ Of Tech In SE Asia
Ride-hailing firm Grab, based in Singapore — which entered a deal to acquire Uber’s southeast Asia business in the first quarter —...
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BankingRevolut Plans To Apply For Banking License In The US
After applying for a banking license in Europe, Revolut plans to apply for one in United States in the near future. Chief...
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NewsFive at Five: A New AI and FinTech Investment Push
Rocket Internet Eyes AI, FinTech Investments Citing comments that Rocket Internet made after reporting earnings Tuesday (May 29), Reuters reported that CEO...
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B2B PaymentsIndia’s Alternative Finance Sector Shines Bright With Investors
Asia’s FinTech investment is hitting new high notes. According to reports published this month in e27, CB Insights found more than $2...
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RegulationThe Prospect Of More Tech Regulation Sinks Global Stocks
With concerns that technology companies can face more regulation, tech stocks were declining all over the globe — with the tech-heavy Nasdaq...
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uber of xParis Bike Sharing Fleet Folds After Too Much Theft, Vandalism
Gobee.bike is pulling out of Paris after thousands of its bicycles were stolen or vandalized. “Over the months of December and January,...
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MobileiPhone X Hits Brick Wall In Asia
Apple’s iPhone X may be doing well in the U.S., but its price tag of $999 and up might be hurting demand...
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InternationalGoFro And Taking The Treasure Hunting Out Of Travel
American consumers have long since forgotten when booking travel was like a treasure hunt. Instead of having to search through countless sites...
