The world’s most profitable car manufacturer is investing $1 billion in Singapore’s Grab Holdings Inc., valuing Southeast Asia’s largest car-hailing service at just over $10 billion.
Despite Canada's high penetration of contactless POS terminals and consumer affinity for the technology, the country has lagged behind nations such as the U.K. and Singapore in contactless payments. That is set to change as Canada's transit schemes launch contactless open-payment systems.
Companies that aspire to be the Uber of their industry should take a second look at the ride-sharing market, where Grab has become a lightning rod of payments investment and innovation.
Until the technologies provide significant savings, cryptotokens threaten financial stability, and the risks of open access to central bank balance sheets are worked out, retail CBDCs are a long way off, writes Collin Canright, a fintech consultant.
For the U.S., being late to the real-time payments game has some tactical advantages, namely the ability to learn from other countries' successes and failures.
Sentbe, a South Korean international money-transfer company, is expanding its payout options and market reach in a partnership with the mobile cross-border payments network TransferTo.
Ride service and mobile payments provider GrabPay has hired Ooi Huey Tyng, a former Visa executive with more than 25 years of experience in banking and payments, as managing director of Singapore, Malaysia and the Philippines.
While interest from the West has so far been tepid in the region, this is an opportune time for fintech investors to look at participation in the Southeast Asian market, writes Alexander Koles, CEO and founder of Evolve Capital Partners.
