Seven mobile wallets have formed a payments consortium in Singapore, the goal of which is to create an “inoperable” QR payments solution for both merchant and consumer use, it was announced today. The seven members of the consortium include Diners Club, EZi Wallet, EZ-Link, Liquid Pay...
The DBS-Xero solution will allow SMEs on the platform to simplify their bill payments, focusing on eliminating problems such as cash-flow—an area of struggle for one out of every three SMEs based in Singapore, the companies said in today’s release.
Singapore is looking to develop a common QR code for payments within the country, to enable transactions with the method between e-wallets, banks, and other services. Singapore’s Payment Council plans to put out standards for the code by the end of 2017, it was announced yesterday. Th...
Several banks in Singapore have closed the accounts of an estimated 10 firms specializing in cryptocurrency and payments services. Anson Zeall, chairman of Access, Singapore’s Cryptocurrency and Blockchain Industry Association, said yesterday in an interview with Bloomberg that this i...
The grant, called the Artificial Intelligence and Data Analytics Grant, will be reserved for financial institutions based in Singapore. It could provide up to 50% reimbursement for those FIs working on projects that cover those areas, according to MAS.
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EXCLUSIVE – With the launch of PIVOT Technology Solutions, Beijing-based fintech PINTEC is bringing a variation of its well-established Polaris robo-advisory, “real-time wealth management system” to Singapore. Bank Innovation held an exclusive interview with Yudong Zheng, CEO of the P...
A key outcome of the consortium’s effort is the ability to perform netting while protecting the privacy of transactions. This helps to open up opportunity for a wider adoption of DLT-based settlement systems. We are sharing our learnings and knowledge from Project Ubin to encourage gr...
