Category: Cards/Payments

Collections & Recovery Summit: India’s Very First Collection-Focussed Conference & Exhibition

Team the Future Event organized India’s first Collection-focused conference & Exhibition: Collections & Recovery Summit- India, on 23rd & 24th February, 2023 at the Taj President Hotel, Mumbai. This networking event was aimed to bring together India’s top industry experts to discuss the latest technology and digital transformation strategies to overcome challenges and empower organizations to be future ready with strengthened operations, increased productivity and improved customer experience in the Debt & Loan Collections, Subscriptions & Renewals and Credit Processes.

With 500+ handpicked attendees, this conference was sponsored by almost 20 industry leaders along with 20+ Media Partners! With Uniphore being the Platinum Sponsor and Clear Touch, Enterprise Tiger & GoCollect (Credility) joining as the Gold Partners, Credgenics was the official Collections Technology Partner. Some of the other key sponsors and solution providers that demonstrated their solutions are Ezetap by Razorpay, SingleDebt, Rezo.ai, Saarthi.ai, Alohaa, UltraCash, Dista, CLXNS Technologies Pvt Ltd, Taurus Collection, Easy Recovery, Provakil, ILeads & Ikontel Solutions Pvt Ltd.

In the word of Uthaman Bakthikrishnan, Executive Vice President at ClearTouch, “Me & my colleague would like to thank the Future Event for organising such an event where it is very clear that each one of the attendees have been hand-picked since whoever is here, is really interested & genuine with their questions. It is a lot more exciting because this is the very first Collection-focussed event in India!”

The Collection and Recovery Summit- India featured an array of keynote speakers and panel discussions, providing attendees with valuable insights and knowledge on topics such as debt collection, credit management, bankruptcy, and financial recovery. Some of the key topics that were covered during the 2-day summit were:

  • Weaving Collections and Recovery into Business Strategy
  • Maintaining a Positive Customer Experience During Collections
  • The Importance of “self-service” platforms
  • Managing Multichannel Debt Collection Model
  • Decoding the Scope, Scale and Challenges of the BNPL
  • Understand consumer sentiment and preferred channels
  • Rise of ECommerce Subscriptions
  • Customer communication and engagement

“We were excited to bring together the best and brightest minds in the debt collection and credit management industry for the Collection and Recovery Summit India,” said a representative of the event organizer. “This summit was an opportunity for professionals across the industry to share their expertise, learn from one another, and explore the latest trends and innovations that are shaping our industry.”

While 45+ expert speakers took the stage to discuss & provide their insights on the latest strategies, innovations, and challenges in the industry, the 100+ pre-scheduled meetings provided the attendees with ample networking opportunities to connect with peers, industry experts, and solution providers. This allowed them to gain new insights and perspectives, as well as build new partnerships and collaborations that can help them improve their practices and achieve better outcomes. Apart from this, the summit was also attended by 40+ solution providers and 15+ exclusive exhibitors.

When Harish B. Parmar, Founder at SingleDebt, a Silver Sponsor for the event, was asked about how SingleDebt was different from traditional collection companies, he said, “What we do we actually represent the creditor and also most importantly the debtor. In this case the debtor comes to us with their issues and we find a payment plan that will help them repay back the debt. Because most of the debtors won’t have 1 creditor but will have five or six creditors and they will be struggling to pay all of them. Because they are struggling to pay all of them and these creditors are chasing them, we work out an affordable payment plan that they can afford to pay all the five creditors. That’s how we are different than the traditional lending companies.”

The Collection and Recovery Summit India is a leading event in the debt collection and credit management industry, bringing together professionals from across the sector to discuss the latest trends, innovations, and challenges in the field. The summit provides attendees with valuable insights and networking opportunities. The Collections & Recovery Summit- India was the debut conference & exhibition of the chain of summits that will be organised by team The Future Event all across the globe. For more information on the upcoming events, visit: https://thefuture-event.com/

Contact:
Jamal Alturaby
The Future Event Media & Productions
Phone: +91 888 4144 691
Email: jamal@thefuture-event.com

Yeahka Limited to Report 2022 Annual Results Announcement on Monday, March 27, 2023

Yeahka Limited (Yeahka or the Company, HKG: 9923), a leading payment-based technology platform in China, today announced that it will report its audited consolidated results for the year ended December 31, 2022.

No description available.
Mobile Registration QR Code

The Company’s management will host an earnings conference call on March 27, 2023 at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time).

Participation Method
1) Please register by clicking the following registration link or use mobile phone to scan the registration QR code.
2) Registered participants will be directed to the link with dial-in numbers and personal PIN code or receive the information via the registered email. (For better call quality, mainland China participants are encouraged to use this method.)
3) Participants can also join the call by using the “Call Me” function and choose the country code and enter their phone numbers then click “Call Me”. This function is not currently available in mainland China.
4) Kindly register at least one working day before the event.
5) Please dial in 15 minutes before the call is scheduled to begin and provide the personal PIN to join the call.

Registration Link
https://register.vevent.com/register/BIda560765bc674ea8a72c2c153ef194ec

About YEAHKA LIMITED (9923.HK) A replay of the conference call will be accessible approximately four hours after the conclusion of the live call, by following replay link:
https://www.yeahka.com/conferencecall

About YEAHKA LIMITED (9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in- store e-commerce services, providing consumers with local lifestyle services of great value, and(ii) merchant solutions, enabling merchants to better manage and drive business growth.

For more information, please visit https://www.yeahka.com/

For investor and media inquiries, please contact:

Yeahka Limited
IR team
E-mail: ir@yeahka.com

Hylobiz Launches its Business in Indonesia in Partnership with Accurate and Brankas, Empowers M/SMEs with Improved Cashflow and Steady Growth

The partnership of Hylobiz, a Vayana group company, with Accurate and Brankas would facilitate businesses in Indonesia with connected business software, especially accounting & POS (point of sales) and connected banking services supporting them with faster collections and strong cashflow for steady business growth.

With this, M/SMEs in the Southeast Asia market will see a positive transition. Businesses will be able to digitize invoices and collections overcoming the crippling issues related to cashflow and business growth.

With Accurate, Hylobiz shares a joint vision to enable Accurate’s SME customers to achieve Cashflow and Compliance automation and thereby offer Credit (Embedded Trade Finance) through partner FIs, with Accurate ERP continuing as the customers’ primary application interface.

“We (Accurate) are very happy to be partnering with Hylobiz. As we enter the modern era, we believe that everything must be efficient, everything needs to be fast. Hopefully accurate as business software especially Accounting Software & POS can be a solution for SMEs customers with a takeline #Bisnisjadimudah on developing their own business,” said Yosep Stephen as CEO Accurate.

With Brankas, Hylobiz shares a joint vision to enable business growth for Indonesia’s SMEs with cashflow automation by leveraging Open Banking technology.

“Embedded finance is set to have a massive impact on business innovation in the coming years, and we believe the use cases today are only just the beginning. We are excited to see the increasing usage of Brankas APIs by organizations across a variety of industries in Indonesia, and share Hylobiz’ vision to drive faster collections for its customers,” said Husni Fuad, Country Manager Indonesia, Brankas

Digitization of receivables, collections with payment links, automated payment reminders, automated reconciliations in real-time, and smart tracking of payments are some of the top and most needed features available with connected ERP and connected Banking capability established through the synergy of the trio.

Vishal Gupta, CEO, of Hylobiz, said, “Hylobiz has been addressing the cash collections, payouts, and real-time reconciliation for the businesses across India, UAE and the USA helping 250K businesses for growth on their cashflows. With Accurate and Brankas we aim to serve b2b SMEs in Indonesia better through ZERO process change, for faster invoice collections and embedded finance for their business growth.”

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users. Headquartered in Singapore.

Visit website: https://www.brankas.com/

About Accurate

Accurate is a business software to help people manage, monitor, and present their business financial reports easily.

Proven by 21 years of consistency and won top brand awards consecutively for 7 years, with outstanding features that will simplify business operational processes such as preparation management processes, recording and presenting more than 200 types of financial reports automatically, tax management and reporting, integration into various applications and other business support software and many more.

Accurate has served hundreds of thousands of businesses in various industries in Indonesia as their trusted Accounting Software and POS, with easily administer, manage, and as an easy financial system known for its features completeness and operational flexibility. This has led to Accurate Is widespread acceptance by trading companies, distribution companies, contractors, and manufacturing companies. Headquartered in Tangerang Selatan, Banten .

Visit website: https://accurate.id/

About Hylobiz, a Vayana group company

Hylobiz is a Fintech serving to simplify the processes in the B2B ecosystem and is currently operational in India, UAE, and the US and is now launching in Indonesia. With its Connected ERP and Connected Banking capabilities, the unified solution simplifies invoice collections and cashflow in the B2B space and simplifies working capital access. Headquartered in Pune, Maharashtra in India.

Visit Websites: https://hylobiz.id/, https://hylo.biz/

Media contacts:

Hylobiz, Perusahaan Vayana Group
Amit Parmar – (WhatsApp) +91 83901 08989
Arkin Dumais – (WhatsApp) + 62 85882567970
Email: amit@vayana.com, arkin@hylobiz.com

Brankas
Bala Subramanian – +65 8157 3627(Whatsapp)
Email: bala.subramanian@brankas.com

Accurate
Cinthya W Putri – +62 81381706036
Evan Mangundap – +62 82112433117
Email: cinthya.widayanti@accurate.id, evan@accurate.id

FTX Trading Bankruptcy: Protecting Your Company’s Interests

Zuber Lawler is representing entities who received investments from Alameda Research and FTX Ventures. Alameda Research and several other FTX-related entities have filed bankruptcy proceedings in Delaware. These multiple filings are all being administered under one matter, In re FTX Trading, USBC Case No. 22-11068.

Most first and second day motions have been heard and either have been granted or are currently pending. Things are moving forward.

On January 18, 2023, FTX debtors moved for an order authorizing and approving procedures for a sale or transfer of what they have termed as “de minimis assets.”

FTX debtors define “de minimis assets” as investments and/or interests held by FTX debtors, including Alameda Research, in privately held companies, which (according to FTX debtors) can be easily separated from the debtors’ core operations, will not disrupt the core operations, and will generate less value to the estate than other assets. FTX debtors state that the de minimis category includes approximately 185 investments made for $1 million and below, approximately 75 investments made between $1 million and $5 million each and approximately 40 investments made between $5 million and $25 million each.

Notably, FTX debtors state that they are in the process of a “strategic review” of the de minimis assets, including the potential for repurchasing of debtor interests by investees or other investors in these investments.

Although they have not identified these assets specifically, FTX debtors wish to have the court approve an established and expedited procedure for the sale/transfer of these types or category of assets, without the need of moving the court or getting court approval for each sale, but with the oversight of the Official Committee. Put in other words, they wish to get authorization to proceed with these individual sales “off line,” and without the need of going through the motion procedure for each specific asset or asset group.

If Alameda Research or any other FTX entity invested in your company, that investment will likely be categorized as a “de minimis asset,” subject to this motion, and will now be up for sale through the bankruptcy process. Through that process, you may be asked (compelled) to make public otherwise confidential information in order to facilitate the public auction or sale of those securities or assets. You may also be at risk of a competitor (or other unsuitable purchaser) buying an interest in your company, and in doing so, potentially obtaining other information and management rights. Even without such a sale of assets, you may now have questions around who you may need to provide information and notices to on an on-going basis, as well has who you may need to obtain consent from in order to take actions subject to restrictive covenants in your investment documents. The situation is even more complicated for issuers of SAFTs or other digital assets that may be subject to inconsistent regulation as a security (or not) across various jurisdictions (since the location of the purchaser may impact whether the SAFT/token issuer is subject to US securities law).

Zuber Lawler is in a unique position to provide the described representation. We have represented a large number of clients with operations across the entire scope of distributed ledger technology. Our clients include token issuers (fungible and non-fungible), digital asset platforms and providers of related services, as well as traditional companies (and government entities) who look to understand and enter the digital asset space. A large number of our clients are not domiciled in the United States and we are extremely familiar with the concerns these clients face. In fact several of our existing clients will be part of the ad hoc group. While we cannot make any promise of any particular result, we expect that we will be better positioned to provide the representation described above than any other firm in the United States.

If your company sold investment assets to Alameda Research or FTX Ventures, please reach out to Josh Lawler at Jlawler@zuberlawler.com to set a time for a short video conference to discuss specifics relating to your situation at no charge.

*Attorney Advertisement – Prior Results Do Not Guarantee a Similar Outcome.

For more information, visit https://ZuberLawler.com.

Source: Plato Data Intelligence: https://PlatoAistream.com

Society Pass Inc Integrates with Stripe Inc’s Payments Platform

  • Society Pass Inc (Nasdaq: SOPA) integrates with Stripe Inc (“Stripe”) payments platform to power transaction settlement services for merchants and consumers on SoPa’s ecosystem
  • Leveraging the cutting-edge technological solutions from Stripe, SoPa simplifies payment flows and provides superior shopping experience to consumers.

Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s leading data-driven loyalty, fintech and e-commerce ecosystem, today announces the integration of Stripe’s financial infrastructure solutions onto the SoPa platform to power transaction settlement services for merchants and customers on SoPa’s ecosystem.

Leveraging Stripe’s cutting-edge technology solutions, Society Pass expands the product and geographical reach of its ecosystem, simplifies payment flows, and accepts payments at scale in multiple currencies. In addition, SoPa leverages Stripe’s anti-fraud technology, Stripe Radar, to detect and block fraud using machine learning. Merchants on SoPa’s ecosystem utilise Stripe’s payment infrastructure to accept credit and debit cards payments from customers, enable their customers to checkout in a simple way, and at the same time provide a superior shopping experience to consumers.

Rokas Sidlauskas, Chief Marketing Officer of Society Pass, comments, “We are thrilled to announce this integration with Stripe which provides diverse payment options to our consumers whilst streamlining the process for merchants to manage their finances and get paid faster. Since our incorporation, Society Pass has redefined the e-commerce experience for millions of registered consumers and hundreds of thousands of registered merchants in SEA. By offering convenience, flexibility, and control on both sides of the retail transaction, SoPa paves a win-win path for our merchants and consumers alike. Partnering with Stripe is an organic path to accelerate this goal”.

As a global financial infrastructure platform, Stripe makes it easy for companies to launch, run and scale their business from day one. Stripe offers a broad set of software tools, including services like built-in-machine-learning powered fraud protection, advanced analytics and infrastructure that makes it easy for businesses of all sizes to scale locally and internationally, while reducing the time and resources spent on payments so they can focus on their core business.

Society Pass’ first-in-class ecosystem transforms the entire retail value chain towards a more digital future in SEA. Looking ahead, SoPa will continue to simplify the use and access to online shopping, leveraging cutting edge technologies and capabilities to tailor more intelligent, individualized, and contextual experiences for the next generation consumers. In addition, SoPa is committed to make continuous efforts in reinforcing and diversifying its ecosystem by means of strategic acquisitions of market-leading companies and partnerships with visionary entrepreneurs in six distinct B2C e-commerce verticals: loyalty, lifestyle, food & beverage delivery, telecoms, digital marketing, and travel.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

GenTwo partners with Apex Group’s EDB for global banking and paying agency solutions

European Depositary Bank (“EDB”), the Luxembourg- based provider of banking, paying agency, depositary and custody solutions, and innovative securitization specialist GenTwo, announce their partnership to provide GenTwo with paying agent and banking services for third party investors globally.

Zurich-based GenTwo creates securitization platforms for asset managers, banks, family offices and venture capital investors, enabling professional investors to easily invest in bankable and previously non-bankable assets. Institutional investors can use GenTwo’s securitization solution to realize their own product and business innovations, to make any type of assets investable and to help shape new, sustainable markets.

GenTwo’s partnership with Apex Group’s EDB, expands GenTwo’s offering with the provision of XS ISINs, marking another unique offering from GenTwo’s securitization platform business and an important step on the way towards global reach.

This partnership will provide GenTwo’s clients with bank accounts and paying agency services for notes issued via international clearing systems Clearstream SA and Euroclear. These services will be delivered by EDB, which offers traditional and digital banking services, as well as paying agency, registrar and transfer agency services to institutional investors and asset managers worldwide.

As part of global financial services provider Apex Group, EDB is one of the largest independent providers of depositary services in Europe for regulated UCITS and alternative funds, withover $160bn of Assets under Depositary (as of September 30, 2022). This latest news follows the recent appointment of David Claus as CEO of EDB (bit.ly/3hp25qA), and the roll out of Digital Banking (bit.ly/3hp25qA) services for institutional clients.

Philippe A. Naegeli, CEO and Co-Founder at GenTwo comments: “The partnership with Apex Group’s EDB serves as important next step and catalyst to excel our successful service offering ‘making all assets bankable’ on a global scale, expanding our Ecosystem and the investment universe of our clients.”

Cornelia Wallner, Global Head of Capital Markets Sales at Apex Group adds: “Free from institutional influences, EDB’s agile and responsive banking capabilities help to set Apex Group apart, offering clients a large variety of solutions, available globally and underpinned by leading technology platforms and knowledgeable local teams. GenTwo continues to innovate, providing investors with access to new asset types and pioneering transformation in the market for alternative and digital investment products. We lookforward to supporting GenTwo’s domestic and international clients with our banking and paying agency services as they continue to grow their global footprint.”

About GenTwo

Zurich-based innovative securitization specialist GenTwo has invented a new generation of financial products. The company creates securitization platforms for asset managers, banks, family offices and venture capital investors, enabling professional investors to easily invest in bankable and previously non-bankable assets. The focus on off-balance sheet investment products solves the problem of declining margins and growth barriers for many financial market participants. New performance potential emerges through granting access to a theoretically unlimited world of asset classes. Institutional investors can use GenTwo’s securitization solution to realize their own product and business innovations, to make any type of assets investable and to help shape new, sustainable markets via Swiss ISIN and XS ISIN. Private investors in Switzerland can as well benefit from these innovative products via their financial intermediaries.
www.gentwo.com

Press Contact GenTwo:
Simone C. Drill, CMO
media@gentwo.com I +41 79 207 33 49

About European Depositary Bank

European Depositary Bank (“EDB”) was founded in 1973 in Luxembourg. It was originally established as a subsidiary of Hamburg based private bank M.M.Warburg & CO (AG & CO) KGaA and was acquired by Apex Group Ltd (“Apex”) in 2019. EDB is supported by Apex’s strong global network of over 50 offices worldwide in addition to its extensive European presence with circa 2,000 employees across the region and is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds with over $160.6bn Assets under Depositary (as of September 30, 2022). www.europeandepositarybank.com

Press contact Apex Group:
Antonia Powell, Head of Media Relations
Antonia.powell@apexfs.com | +44 (0)77 8990 2279

Digital Treasures Center Trailblazing in Physical Cryptocurrency Transactions

Digital Treasures Center (DTC), a web2.0 and web3.0 payment service provider, has achieved multiple firsts since obtaining the full payment licenses from the Monetary Authority of Singapore (MAS) in August 2022.

  1. The fintech is the first payment company to launch a point of sale (POS) machine in Singapore to accept cryptocurrencies.
  2. DTC’s Chief Operating Officer El Lee is the first home-grown Singapore entrepreneur to receive the Top 10 Fintech Leaders award three times.
  3. DTC is the first fully licensed crypto currency payment company in Asia to be selected for Mastercard’s Start Path global startup engagement program.

First POS machine to accept cryptocurrencies in Singapore

DTC became the first MAS regulated major payment company to launch a point of service (POS) machine for physical cryptocurrency transactions in Singapore at the Singapore Fintech Festival.

“The DTC team has worked hard to ensure that merchants can seamlessly accept crypto in their physical stores. Now consumers can pay via cryptocurrencies at physical store through our POS machine seamlessly,” said Alice Liu, Chief Executive Officer and Co-founder of DTC.

With a POS machine, DTC is empowering merchants to easily accept cryptocurrency payment and receive fiat payout in Singapore Dollar or US Dollar. This allows merchants to see almost immediate transfer with transaction fees that is much lower than typical credit cards.

Retailers that are already using DTC’s service to accept cryptocurrency payment include 35A Scotts, a private club house; H2 Hub, a watch retailer with multiple outlets around Singapore; and Lumin Eye Specialist, which provides holistic ophthalmology services, GL Auto and F1 Auto, which are premium car dealers in Singapore.

Currently, DTC accepts Bitcoin (BTC), Ethereum (ETH), USD Tether (USDT) and USD Coin (USDC).

First home-grown Singapore entrepreneur to be a 3rd time winner of the Top 10 Fintech Leaders award

Second, El Lee, Chief Operating Officer and Co-founder of DTC became the first home-grown Singapore entrepreneur to win the coveted Top 10 Fintech Leaders award for the third time at the Singapore Fintech Festival 2022 in recognition of his leadership in driving the company in the frontier at the cryptocurrency payment space in Singapore.

From left to right: Richmond Teo from Paxos presenting El Lee, Chief Operating Officer of Digital Treasures Center, the Top 10 Fintech Leaders award during Singapore Fintech Festival.

Since receiving the MPI license in August, DTC has gone from strength to strength. In addition to launching the first POS machine to accept crypto transactions physically, DTC has also launched DTC Wallet on Apple Store and Google Play. The fintech is also enhancing the onboarding process to allow for online and near real-time onboarding.

“I am grateful for the continued recognition as one of the top 10 Fintech Leaders, having strived to improve the blockchain and financial industry.” El said. “The award also belongs to our team that worked very hard. DTC is the only MAS regulated payment company that has product for both consumer and merchant, and solution for both online and in-store payment, with card, fiat and crypto payment processing capability!”

First fully licensed cryptocurrency payment company in Asia to be selected for this year Mastercard Start Path program

DTC is the only Asia-based company to be selected for this year Mastercard Start Path. Founded in 2014, Start Path has engaged 350 startups globally. Approximately 1,500 startups annually are evaluated for entry to the program with a 2% acceptance rate. Through the Mastercard Start Path Crypto program, high-potential Web3 startups receive the opportunity to co-create and innovate, gain customized expertise from Mastercard, and access a diverse customer base through the company’s global scale.

“We are excited to be part of this prestigious Start Path program by Mastercard and we believe there is great synergy between DTC, Mastercard and its ecosystem. As DTC build the next generation payment solution to bring crypto, cash, card together into a single platform, card players like Mastercard are key strategic partners for us and we look forward to learning and working with the Mastercard team,” said El.

For more information about the Start Program this year, please refer to the Mastercard announcement: https://mstr.cd/3tdqySu

About Digital Treasures Center

Digital Treasures Center Pte Ltd (“DTC”) is an enterprise payment service provider incorporated in Singapore with PCI-DSS level 1 certification and winner of the prestigious Fintech Partner Award at Singapore Fintech Festival. Our payment solution – DTC Pay, offers clients and merchants the ability to receive and settle payment, including cryptocurrency. DTC Pay is compliant, fast, secure and cost efficient. DTC is dedicated to building the payment infrastructure that would allow merchants and consumers to interact with fiat and cryptocurrency seamlessly.

Find out more at www.dtcpayment.com

For media related queries, please contact:
Mr. Desmond Yong
Email: desmond.yong@dtcpayment.com
Mobile: +65 9794 1679

The Philippines’ Payments, E-Commerce & Banking Leaders to Gather Live Online this September to Chart the Future of Commerce

Seamless Philippines returns live online this 28-29 September, gathering over 1,200 attendees virtually to explore the latest innovations in the Philippines across the payments, e-commerce and banking sectors.

“With digital payments and ePayments in the Philippines forecast to account for 50% of transactions by 2023, also fuelling growth in e-commerce, there’s no doubt that the Philippines is an exciting market,” says Paul Clark, Managing Director – Asia for Terrapinn. “Over the last two years, these sectors have been at the forefront of innovation – now it’s time to make sure they are positioning themselves for a post-pandemic era and securing their future growth. Seamless Philippines offers them exactly that, without even having to leave their home or office.”

Seamless Philippines will bring together over 60 expert speakers across four key content pillars: payments innovation, e-commerce strategy, e-commerce marketing and banking. Attendees will enjoy free access to all sessions on the platform, and all sessions will be available for on-demand viewing for one month after the event, truly offering attendees a chance to fit the event around their own schedule. Speakers at the event include:

– Arvie De Vera, Co-Founder & Chief Executive Officer, UnionDigital Bank
– Justin Rafael Francisco, Managing Partner, Great Deals E-Commerce Corp
– Greg Krasnov, Founder & Chief Executive Officer, Tonik Bank
– Christopher Bennett, Chief Technology Officer, GOtyme
– Maria Gaitanidou, Chief Launch Officer, UnionDigital Bank
– Mich Lim, Ecommerce Head, Robinsons Appliances
– Rogelio Umali, Chief Technology Officer, GoodBank
– Alvin Heinrich Chan, Digital Payments Lead, Philippine Seven Corp
– Michael Magbanua, SVP, Group Head of Operations & Shared Services, Union Bank of the Philippines
– Joanne Barbara De Jesus, AVP, Tribe Lead – Digital, ING Philippines
– Johdel Ocampo, AVP ? Digital Strategies & Retail Journey, Metrobank
– Timothy Cu, Head of Quick Commerce, Sarisuki
– Glenn Richmond Ong, Director, Customer Experience, Cebu Pacific
– Gus Poston, Chief Executive Officer, Netbank
– Kevin Codamon, Head of Digital Technology, McDonalds Philippines

More than 20 sponsors, exhibitors & partners are supporting this year?s virtual edition of Seamless Asia, including Platinum Sponsors Edgio, Sift and Sompo Holdings. All sponsors & exhibitors will be hosting a virtual booth on the platform for attendees to find out more about their products and services, and interact directly with their teams.

For event information and full conference agenda, visit www.terrapinn.com/SeamlessPhilippines2022

About Terrapinn:

Terrapinn has been sparking ideas, innovations and relationships that transform business for over 30 years. Using our global footprint, we bring innovators, disrupters and change agents together, discussing and demonstrating the technology, strategies and personalities that are changing the way the world does business. Whether you?re looking to make new connections, introduce product or inspire change in your industry, we invite you to join us as agitators of change. Terrapinn – spark something.

Press attendance is complimentary. Enquiries should be directed to:
Jia Le Lim
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Yeahka (09923.HK) share price rises 4.45%, Major brokers grant “Buy” rating

Yeahka Limited (Yeahka or the Company, HKG: 9923), a leading payment-based technology platform in China, increased by 4.45% and closed at HK$17.86 per share. Its share price climbed by about 30% in the past five trading days.

Yeahka recently announced its FY2022 interim results. For the six months ended 30 June 2022, the Company’s revenue was RMB1,642 million, representing a year-over-year increase of 17.07%. Gross profit rose 52.05% year-over-year to RMB529 million. The company’s gross payment value (“GPV”) reached RMB1.06 trillion, up 7.4% year-over-year. The gross merchandise value (“GMV”) of its in-store e-commerce services and the number of paying consumers was nearly RMB1.4 billion and 9.7 million, respectively, representing a year-over-year increase of 1,789.7% and 578.9%, respectively. The number of monthly active users (“MAU”) exceeded 19.0 million during the reporting period.

At the same time, Yeahka also disclosed the news of its share repurchase, stating that pursuant to a resolution passed by the shareholders of the Company at the annual general meeting held on June 24, 2022, the Directors were granted a general unconditional mandate to repurchase up to 45.1903 million shares. On September 5, Yeahka spent HK$4.955 million on the repurchase of 292,000 shares at a repurchase price of HK$16.74-17.08 per share. This is a relatively rare move among small and medium-sized technology companies and shows that the management is extremely confident in the Company’s future performance growth.

In view of its outstanding interim results and the management’s expectations for the Company’s future growth, Nomura and CLSA both upgraded their ratings to “Buy”. Nomura published a research report stating that its interim performance was solid, with revenue increasing by 17% year-over-year, mainly driven by strong growth in its payment business and in-store business. As of the market close today, more than a dozen institutions, including CICC, Guosheng Securities, GF Securities, and China Securities International, have all given the Company a “Buy” rating, which further demonstrates the investment value of Yeahka.

About YEAHKA LIMITED (HKG: 9923)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.

Yeahka Announces 2022 Interim Results

  • Revenue up 17.1%, Gross Margin up 7.4ppt
  • In-store E-commerce MAU Surpasses 19 million

Yeahka Limited (Yeahka or the Company, HKG: 9923), a leading payment-based technology platform in China, is pleased to announce the interim results for the six months ended 30 June 2022 (the period or 1H 2022).

Financial Highlights

  • During the period, the Company’s total revenue reached RMB1,641.8 million, representing a year-over-year (YoY) increase of 17.1%.
  • Gross profit during the period rose 52.1% YoY to RMB529.3 million, gross margin increased from 24.8% to 32.2%, gross profit contribution from non-payment business was 50%.
  • Adjusted EBITDA amounted to RMB69.7million, increased by 39.7% compared with the second half of 2021.
  • Gross profit of in-store e-commerce services reached RMB92.3million, gross margin reached 57.1%, increased by 76.9% and 6.6 percentage points respectively, compared with the second half of 2021.

Operational Highlights:
Number of users and scale of one-stop payment services continued to grow:

  • Total gross payment value (“GPV”) of the payment services reached RMB1.06 trillion, up 7.4% YoY;
  • The number of active payment service merchants increased 24.1% YoY to a historical high of 7.6 million;
  • The number of cities covered exceeded 300 nationwide;
  • The number of partnership banks increased to nearly 100; the number of independent sales agents in our network reached nearly 16,000; and the number of application programming interface (API) partners on our cloud payment platform exceeded 3,000.

In-store e-commerce services grew rapidly and achieved significant results:

  • Total gross merchandise value (“GMV”) was nearly RMB1.4 billion, up 17.9 times YoY, and 3.2 times compared with the second half of 2021;
  • The number of monthly active users (“MAU”) reached 19.0 million;
  • The number of paying consumers reached nearly 9.7 million, increasing by 578.9% YoY and 136.0% from the second half of 2021;
  •  Stock keep units (SKU) reached over 205,300, up 1,570.2% YoY and 39.6% from the second half of 2021;
  • Number of regional sites exceeded 300.

Steady growth for merchant solutions:

  • Number of active merchant solutions merchants increased by 25.8% YoY to nearly 1.5 million.

Mr. Luke Liu, Chairman of the Board, Chief Executive Officer and Executive Director of the Company, said, “The resurgence of the COVID-19 pandemic has made 1H 2022 challenging by slowing down retail sales growth of consumer goods, and significantly disrupting offline commerce. But for us, because of our broad coverage across over 300 cities and low geographic concentration, we continued to make progress in scaling up and monetizing our commercial digitalized ecosystem. We have been proactively adapting to the new norm in China’s internet industry, by being more cost cautious and profitability-driven, which has been demonstrated by our financial performance in the first half – total revenue and gross margin both showed encouraging improvement year over year(“YoY”), particularly with gross profit increasing 52.1% to RMB529.3 million, gross margin improving by 7.4 percentage points on a YoY basis, and adjusted EBITDA reaching RMB69.7 million during the period, increasing by 39.7% compared with the second half of 2021.

“We firmly believe that fast-tracking development in the local lifestyle market brings significant real and quantifiable value to consumers and merchants, because consumers can find intriguing experiences and receive actual discount by using our services, and merchants can boost their revenue and name recognition through our concentrated traffic during a short timeframe. The in-store e-commerce business has experienced strong growth in GMV, with MAU exceeding 19.0 million during 1H 2022, coupled with our effective operations optimization, we have significantly narrowed its loss. Going forward, we will continue to focus on creating user value, driving technology innovation, and taking more social responsibility.

“Also, with confidence in Yeahka’s fundamentals and future strategies, we have purchased a total of 25,533,600 shares of the Company through the restricted share unit scheme, accounting for 5.65% of total shares outstanding. Moreover, on 30 August 2022, we announced an additional US$70 million share purchase scheme, reflecting our continued confidence in Yeahka’s growth potential.”

Outlook
On one-stop payment services, Yeahka will continue to strengthen its sales network, particularly Open-API SaaS partnerships and bank partnerships. Yeahka will also look to embrace new payment standards such as DC/EP. On in-store e-commerce services, Yeahka will put utmost emphasis on improving user experience and focus on narrowing loss, as it is constantly optimizing its cost structure and operating efficiencies. Based on the strong results in the past few months, Yeahka is confident that it will continue to realize tremendous growth in GMV and increase market share. On merchant solutions, leveraging its strong payment merchant network, Yeahka will continue to empower merchants on optimizing digitalized operations and enhancing efficiency. Yeahka has raised US$70 million in July 2022 to strengthen its offshore balance sheet, and will explore overseas opportunities as cross-border travel gradually become available in China.

Overall, empowering the real economy and creating values for merchants and consumers has always been Yeahka’s core values since its inception in 2011. As Yeahka enters the second half of 2022, the Company may still face challenges from pandemic-driven weakened consumption environment. However, as it has demonstrated with its operating results in 1H 2022, Yeahka will continue to navigate through difficult times, capitalize on the data and traffic in its ecosystem and achieve healthy growth. Yeahka will continue to invest in research and development, enrich its product mix, enhance user experience, increase diversified revenue streams, extend business boundaries, and create sustainable value for shareholders, employees, and society.

About YEAHKA LIMITED (HKG: 9923)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.

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