Category: Cards/Payments

Digital Treasures Center Secures MPI Licence to Provide Digital Payment Token and Other Payment Services in Singapore

The Monetary Authority of Singapore (MAS) has granted Digital Treasures Center (DTC) the Major Payment Institution (MPI) licence. Securing the full licence means DTC has exited from the exemption status and is now a fully regulated provider (MAS licence number: PS20200531) of Digital Payment Token (DPT) and other payment services under the Payment Services Act (PSA).

Ms. Alice Liu, Chief Executive Officer and founder of DTC

“We are excited to obtain the full licence from MAS. With the full licensing, we will continue to build on the good work that the team is currently doing while looking to expand our footprint globally starting from our ASEAN neighbours,” said Ms. Alice Liu, Chief Executive Officer and founder of DTC. “Our base in Singapore provides us with the unique competitive advantage in leverage the country’s strong business infrastructure, strong government support, innovation ecosystem and strong regulatory framework to allow us to expand our company.

Effect 1 August 2022, DTC will be providing the following payment activities under the MPI licence:

  1. Account Issuance Service – open accounts for merchants and consumers to accept and pay e-money and non-card transactions.
  2. Merchant Acquisition Service – enable merchants to leverage DTC services to accept and process payment transactions online and offline.
  3. Domestic Money Transfer Service – provide local money transfer services in Singapore.
  4. Cross-border Money Transfer Service – provide cross-border money transfer services globally.
  5. E-money Issuance Service – issue e-money for merchants and consumers.
  6. Digital Payment Token Service – facilitate transactions with digital payment tokens.

“We are grateful for the support and trust that our clients and community have given us over the years. We are optimistic about the future of cryptocurrency as a use case for payment. Over the past few months, we are seeing an uptick of enquiries and onboarding from merchants and companies from healthcare to music, F&B and automobiles on enabling crypto payments,” Liu said. “As crypto payment gains momentum, we are hopeful to see more merchants from various industries coming onboard to accept crypto as an additional form of payment.”

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 8889 7802

E-Invoicing Exchange Summit Americas: The Future is Bright

The 5th E-Invoicing Exchange Summit Americas took place in Miami from May 9 to 11, 2022. Over 100 experts, thought leaders and key decision-makers from 16 countries met in person to discuss the past, current, and future trends in electronic invoicing, procurement, and continuous transaction controls (CTCs).

Two very well attended interactive workshops kicked off the event. The first one was run by the Business Payment Coalition (BPC) discussing the next steps for an E-Invoice Exchange Framework for the U.S., and was followed by OpenPeppol exploring how the Peppol Network, international invoicing and CTCs, can be flexibly and progressively applied.

The wide acceptance and embrace of the four-corner-model was evident in the numerous presentations in testament of its usefulness, its features, and its success. Interesting case studies gave insights into the current experiments and future trends of automation, machine learning, and artificial intelligence. Further subjects of debate included the harmonization of different initiatives towards a truly global interoperability framework, which was also the topic of a high-level expert panel. The mutual agreement of all participants was that the future is bright for this space and calls for international collaboration.

Once again, the E-Invoicing Exchange Summit has been a great space where the E-Invoicing and E-Reporting community exchanged ideas and benefitted from great networking opportunities. Numerous excellent discussions and face-to-face talks took place with customers, partners, and policy drivers on the convergence of the different E-Invoicing and E-Reporting models and how all can help reduce complexity and manage the transition to E-Invoicing and Continuous Transaction Controls.

The global E-Invoicing journey continues in Berlin June 20-21, Lisbon September 26-28, and in Singapore and Dubai (dates to be announced). The next edition of the E-Invoicing Exchange Summit Americas will take place in Miami from April 24 to 26, 2023.

More information: www.exchange-summit.com

About Vereon AG
Vereon AG organises leading-edge seminars, conferences and workshops addressing current business issues. Distinguished experts in research, science, industry and politics regularly present practical solution approaches and pioneering trends. Leaders and specialists from all sectors appreciate these information platforms for building knowledge, exchanging experience and making valuable new contacts.

Press Contact:
Vereon AG | Public Relations | Hauptstrasse 54 | CH-8280 Kreuzlingen
e: presse@vereon.ch | https://www.exchange-summit.com/insights/media-pr

Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia

TechCreate Solutions Private Limited (“TechCreate”), a Singapore-based technology services group specialising in innovative digital payment and digitalisation solutions, and Diginius Pte. Ltd. (“Diginius”), a provider for IT security and infrastructure solutions, are pleased to announce a merger between both companies via a share swap transaction that will value the enlarged fintech enterprise, TechCreate Group, at USD$30 million, based on a valuation that was recently completed by one of the Big 4 accounting firms.

From left: Mr Lim Heng Hai, (Group CEO of TechCreate Group) and Mr Ronald Vong, (Managing Partner of TechCreate Group)

As a trusted leader in digital solutions, TechCreate has been at the forefront of technology innovation and since its establishment, it has developed its own proprietary Real-Time Payment Engine (RTE) that can further enhance the payment capabilities of financial and banking institutions. Leveraging its technological expertise, legal experience and extensive operational track record, TechCreate has successfully enabled end-to-end digital solutions (such as payment gateways, API gateways and blockchain solutions, among others) for several banking and financial institutions in Asia.

With Diginius’ strengths in intelligence and security for concrete cyber resilience, it has built a growing track record with a focus on delivering technology solutions related to cyber security, hyper-converged IT infrastructure and secure application services. Diginius also works with some of the industry’s indisputable experts in cyber security and secured infrastructure services, combined with market-leading technologies to provide a springboard for the next phase of digital transformation.

The current CEO of TechCreate, Mr Lim Heng Hai, will be appointed as the Group CEO of TechCreate Group, while the current CEO of Diginius, Mr Ronald Vong, will be designated as the Managing Partner of TechCreate Group.

Strategic Rationale – Powering the Future of Payments in Asia

According to a Mckinsey report issued on November 2020, Asia has outpaced all other regions in terms of payments-revenue growth over the past several years. The region is also the largest contributor to global payments revenue, generating over US$900 billion in 2019, nearly half the global total. The Asia’s payments industry is expected to return to mid-to-high single-digit growth rates and, by 2022 or 2023, generating more than US$1 trillion in annual revenue.

Notably, the COVID-19 pandemic has accelerated Asia’s payments megatrends and chief among these was the rapidly expanding number of connected and digitally active consumers, with booming e-commerce markets reinforcing the need for digital solutions. The competitive landscape was simultaneously heating up, with the entry of formidable new players–including telecommunications firms, fintechs, “big techs,” and other conglomerates–spurring incumbents to step up their own innovation efforts.

Meanwhile, regulators sought to standardise infrastructure while encouraging competition, fostering the introduction of real-time payments, digital know your customer (KYC), and various local payment schemes.

With a focus on powering the future of payments in Asia, TechCreate Group aims to provide cutting-edge innovation and technology capability to enhance value creation for its customers as follows:

– Expanded business scale with integrated solutions: Having the capabilities to provide more comprehensive and integrated technology solutions related to payment and digitalisation platforms to serve new and existing customers across Asia.

– Strong potential to create new customer value propositions: Ability to broaden its reach and serve diverse customer segments with differentiated requirements and objectives, thereby creating the opportunity and potential to develop proprietary insights and innovative solutions that are aligned with the new trends of payments and digitalisation in Asia.

Commenting on the merger, Mr Lim Heng Hai, Group CEO of TechCreate Group, said, “This is a transformational transaction for both companies, creating an enlarged company with end-to-end digital payment offerings in high-growth verticals as economies in Asia accelerate their digitisation roadmap.

With our combined capabilities, it amplifies our mission be a leading innovative, customer-centric and eco-friendly technology solution provider in Asia.”

Mr Ronald Vong, Managing Partner of TechCreate Group, added, “We are confident that the strengths of the combined company will enable meaningful growth to stakeholders, delivering new value and insights to better serve our markets and customers.

At the same time, it can accelerate our growth and more effectively capitalise on our pipeline and broader market opportunities within the banking and financial industries in Asia.”

For more information on TechCreate Group, please visit: http://www.techcreate.com.sg/

Issued on behalf of TechCreate Group by 8PR Asia Pte Ltd.

Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Yeahka to Announce 2021 Annual Results on 31 March 2022, Actively Covered by 13 Leading Brokerages

Industrial Securities initiated coverage on Yeahka Limited (Yeahka or the Company) (HKG: 9923) with an Overweight rating. Since 2021, Yeahka has been covered actively by 13 leading brokerages (by alphabetic order), including China Renaissance, China Securities, CICC, CITI, CLSA, Daiwa, Essence Securities, Guosheng Securities, Guotai Junan Securities, Huatai Securities, Industrial Securities, Jefferies, and Zhongtai Securities.

Yeahka’s sustainable, solid growth is the key to the attention from these brokerages. Recently, Yeahka stated that it will announce its audited consolidated results for the year ended 31 December, 2021.The Company’s management will host an earnings conference call on 31 March, 2022 at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time). Dial-in details for the earnings conference call are as follows:

Mainland China: 400 820 6895
Hong Kong, China: +852 3018 8307
U.S.: 1833 239 5575 (Toll Free) / +1 332 208 9458
U.K.: 0800 279 8053 (Toll Free) / +44 203 692 8123
International: +65 6780 1201
Passcode: 3779473

About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka Limited is a leading payment-based technology platform. Yeahka’s vision is to build an independent and scalable commercial digitalized ecosystem. Yeahka seamlessly connects merchants and consumers through payment services of different kinds, including QR code and traditional bank card payment. In addition, Yeahka provides merchant solutions including SaaS digital solutions, precision marketing services, and fintech services to help merchants better manage and drive business growth. On consumer front, Yeahka officially launched in-store e-commerce services in 2021, providing consumers with one-stop local lifestyle services of great value, and a more enjoyable lifestyle.

Yeahka Donate 60,000 Antigen Rapid Test Kits Supporting Hong Kong’s Fight Against COVID-19

Yeahka Limited (Yeahka or the Company) (09923.HK) has announced a donation of 60,000 antigen rapid test kits to support Hong Kong’s fight against the increasingly serious outbreak of Covid-19.

The antigen rapid test kits will be donated to Po Leung Kuk and distributed to the elderly and disabled through its elderly service units and rehabilitation service units respectively, helping them monitor their health status in real time.

The fifth wave of the pandemic has proven challenging for Hong Kong, with the number of new daily COVID-19 infections hitting record highs. In the face of the severe pandemic situation, there is an increase in demand for pandemic prevention resources. Yeahka has been closely monitoring the pandemic situation in Hong Kong and hopes the initiative will help, sending love and care to the people in need.

About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka, listed on the Main Board of Hong Kong Stock Exchange in 2020, is a leading payment-based technology platform dedicated to creating value for merchants and consumers by providing one-stop payment services and diversified technology-enabled business services. According to Analysys’s report in 2022, Yeahka ranks No.1 in the non-bank, Independent QR code payment service market in China.

Winklevoss twins and global decacorn invest in US$29M Series A of Singapore-based fintech Volopay as it prepares APAC and MENA expansion

  • The enterprise FinOps platform has taken on a strategic investment from global blue-chip investors to drive continued expansion and technology innovation
  • The Series A funding round comprised participation from JAM Fund, Winklevoss Capital Management, Accial Capital, Rapyd Ventures, Jeffrey Cruttenden – CEO of Acorns along with Access Ventures, Antler Global, and VentureSouq
  • Volopay plans to strengthen its footprint in APAC and MENA with a multi-market expansion alongside further investment in product development

Volopay, a Y Combinator-backed Singapore-based corporate cards, and payable management startup has successfully raised US$29 million in its Series A round through a mix of equity and debt. The investment round included participation from JAM Fund, Winklevoss Capital Management, Rapyd Ventures, Accial Capital, fintech veteran and angel investor Jeffrey Cruttenden – CEO of Acorns along with Access Ventures, Antler Global, and VentureSouq.

The strategic investment from leading blue-chip investors will fuel Volopay’s foray into the APAC and MENA markets to tackle two of the most pressing problems that SMEs and startups face – high Forex (FX) charges incurred for international payments and the lack of a uniform platform to access all spend data. Volopay provides companies with multi-currency wallets to hold money in their base currency and any major currency – USD, SGD, EUR, GBP – and subsequently use it for payouts, eliminating exorbitant amounts of FX charges levied on international payments.

Since its seed funding, Volopay has grown exponentially to better alleviate its clients’ pain points. With a 150+ member team spread all over major business centres in the Asia Pacific region, such as Singapore, Australia, India, Indonesia, and the Philippines, Volopay has amassed an impressive clientele with the likes of Funding Societies, Zipmex, Moneysmart, Smartkarma, and Austrionova among others.

Volopay is disrupting traditional business banking and aims to be adopted as the single and only solution growing, global businesses need for their cards, invoice automation, and bill payments along with the added bonus of a multi-currency business account without the hassle and limitations of a traditional bank. To achieve this, Volopay has embarked on the ambitious objective of building its own infrastructure and applying for financial licences in its markets, something no other company has done regionally. Through constructing their own infrastructure, Volopay will enable their global clients to eliminate the need for integration with multiple third-party financial services platforms, delivering a consistent and delightful customer experience regardless of the region they are operating in.

Rajith Shaji, cofounder and CEO of Volopay shared, “Volopay is an ambitious project. To build an alternative to Volopay, you would have to launch five different startups. We are building the control centre for modern companies for all their financial management needs. Our platform is as easy and seamless to use for a five-person company, as it is for a 500-person company. We want to take our vision of a unified spend management platform to all companies across the world after our initial markets of APAC and MENA.”

“With APAC & MENA making a big wave on the global stage by churning out several unicorn level enterprises every year, accelerating their growth requires an efficient expense management tool that is simple yet scalable, something that Volopay has always aimed for,” said Rajesh Raikwar, cofounder and CTO of Volopay.

Justin Mateen, founder of Tinder and JAM Fund who led the round, said in a statement, “I’ve worked closely with Volopay’s amazing team since my original investment at the pre-seed stage. Given the accelerating growth of the business, and the team’s ability to innovate quickly on the product side with a single-stack and scalable platform across multiple jurisdictions, it was only natural to triple down and lead the Series A round. I am proud to partner with a leader in this space and to help support Volopay to scale to greater heights.”

Michael Shum, Chief Investment Officer at Accial Capital said, “Accial Capital views the B2B corporate spend vertical as a way to support entrepreneurs and SMEs with liquidity and close the credit gap. Volopay has a great ambitious team focused on redlining the finance workflows with its robust technology. We are proud to partner with a leader in this space to help scale.”

Part of Volopay’s Series A funds will be put towards their forthcoming market launches, building and innovating new technologies to complement their existing product, in addition to enhancing integrations with leading enterprise software and project management applications. The company is also hiring aggressively for key positions in each of its markets.

About Volopay
Volopay is a Singapore-based company on a mission to build a financial control centre for modern businesses. Volopay combines business accounts, corporate cards, bill payments, expense reimbursements, credit, cashback, and accounting automation into one single platform. Since launching in Singapore and Australia the startup has been on a strong growth trajectory and is now stepping into India, Indonesia, and the Philippines with MENA expansion on the horizon. https://www.volopay.com/sg/

For media enquiries, please contact:
PRecious Communications for Volopay
volopay@preciouscomms.com

NextPlay Technologies’ NextBank Selected to Provide Deposit Accounts and Payment Cards for Alphabit’s ABCC Cryptocurrency Exchange

NextPlay Technologies, Inc. (Nasdaq: NXTP), announced that NextBank International, the international banking unit of its fintech division, has signed a Memorandum of Understanding (MOU) with Alphabit Consulting Pte. Ltd., to provide deposit accounts and payment cards for members of its ABCC cryptocurrency exchange.

The NextBank accounts will maintain ABCC users’ fiat (government issued) cash balances, permitting them to trade between fiat currency and cryptocurrency on ABCC exchange. Account holders will also be able to apply for payment cards that would allow them to make payments secured by their cryptocurrency balances.

Alphabit has built a broad global user base with ABCC. As a Singapore-based cryptocurrency exchange operator, Alphabit has submitted a license application under the Payment Service Act 2019 to provide account issuance services and digital payment token services as it continues to operate under a license exemption.

“ABCC is an exceptionally well-managed and fast-growing crypto exchange, making them the perfect partner to launch payment cards with,” stated Todd Bonner, chairman of NextPlay Technologies and head of the company’s fintech division. “We expect the regulatory licenses will further support trader and investor confidence, and further accelerate the growth of the ABCC platform. This new partnership also advances our efforts to expand the capabilities of our fintech division through the offering of products and services that appeal to companies within the digital asset industry.”

According to ABCC president, Calvin Ng: “We have teamed with NextBank to provide these financial services due to their highly experienced and capable management, as well as their positioning in the international online banking marketplace. We see this as just the beginning of a long-term partnership, as we together deliver increasing value and convenience to our ABCC members.”

The new joint offering from ABCC and NextBank is expected to benefit from the rapidly growing global financial technology market, which is projected to grow at a compound annual growth rate of 25% from 2022 to approximately US$324 billion by 2026, according to a Market Data Forecast.

About Alphabit and ABCC
Based in Singapore, Alphabit Consulting Pte. Ltd. operates the ABCC cryptocurrency exchange. ABCC is a leading crypto exchange that is exploring the future development of cryptocurrency projects for global users. It is working to create a world where cryptocurrency co-exists with traditional financial markets through robust Know-Your-Customers (KYC) processes. By engaging with reputable vendors, it seeks to deliver RegTech solutions that create a safe platform for its ABCC members. To learn more, visit abcc.com.

About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay’s engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies. For more information about NextPlay Technologies, visit www.nextplaytechnologies.com and follow us on Twitter @NextPlayTech and LinkedIn.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including “will,” “may,” “expects,” “intends,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties including, and not limited to, our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; current regulation governing digital currency activity is often unclear and is evolving; the future development and growth of digital currencies are subject to a variety of factors that are difficult to predict and evaluate, many of which are out of our control; the value of digital currency is volatile; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; our revenues and results of operations being subject to the ability of our distributors and partners to integrate our alternative lodging rental (ALR) properties with their websites, and the timing of such integrations; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our travel business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot and NextBank International (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

SOURCE: NextPlay Technologies, Inc.

Company Contacts:
NextPlay Technologies, Inc.
Richard Marshall
Director of Corporate Development
Tel: (954) 888-9779
Email: richard.marshall@nextplaytechnologies.com

Alphabit Consulting Pte. Ltd
Alan Li
Chief Executive Officer
Email: alan.li@abcc.global

Pakistan’s Silkbank Taps Silverlake Axis to Grow Credit Card Footprint

Singapore mainboard listed Silverlake Axis Ltd. (SGX:5CP) (SAL or the Group), the ASEAN market leader in core banking software, today, announced an expansion to the partnership with Silkbank Limited (Silkbank), a leading commercial and Islamic bank in Pakistan. Through the latest agreement, Silkbank will upgrade its card management suite to use Silverlake Axis’s latest platform, Silverlake Symmetri OmniCard V6.

OmniCard is an internationally certified card management system that allows banks to run flexible and secure operations including issuing and acquiring of all types of credit, debit and prepaid cards, ATM management, 3D secure e-commerce transaction processing, management of fraud, disputes, and cardholder’s loyalty. This latest move further strengthens Silverlake Axis’s leadership position within Pakistan’s credit card market, where it currently commands over 80 percent market share. It also allows Pakistan’s and the region’s banks to tap into Silverlake’s award winning technologies to grow their card footprint, and in the process, better cater to their customers.

Gyorgy Ladics, CEO Silverlake Symmetri, commented: “We are immensely proud of the deep and long-standing partnership we have forged with Silkbank. Moreover, Pakistan continues to establish itself as a fast-growing market with huge potential for building its credit card market and we are very optimistic about its growth. To that extent, the trust Silkbank has placed in us is a true honor, and as we continue this exciting journey together, we are confident that this trust will see strong returns.”

Nabeel Malik, Executive Director – Strategy Implementation & Ops/Admin/IT/CSQ at Silkbank, commented: “Silverlake has been a trusted partner to Silkbank for 9 years. The in-depth experience, system understanding, and professionalism of Silverlake team has been invaluable to us. As we continue to transform and advance the banking landscape in Pakistan, their partnership and vast expertise will be a key factor in us growing with confidence.”

With over 30 years of experience and a breadth of expertise across industries, Silverlake Axis creates technologies to empower businesses in the digital economy, transforming industries like banking, insurance, retail, and logistics. Silverlake Symmetri OmniCard is a universal card and payment management system, designed to help both acquiring and issuing institutions to run efficient, secure and profitable operations. With Silverlake Symmetri OmniCard, banks can reduce time to market for new card products while at the same time offer excellent service to drive loyalty across the customer base. The solution also enables them to cross-sell and up-sell, while reducing fraud and risk, and ensuring regulatory compliance.

“With Silverlake Axis already issuing 80% of cards in the market, Silkbank’s partnership to deploy our credit card solutions only solidifies our leadership position in Pakistan. However, it’s only one step in our growth plan. We are seeing strong opportunities across the MENA, South and Southeast Asia regions with our Islamic and retail banking partners as well,” added Ladics.

About Silverlake Axis
Silverlake Axis Ltd. (“SAL”) is a leading enterprise technology, software and services company focused on financial services and serves 40% of the top 20 largest banks in South East Asia. Founded in 1989, SAL has an impeccable track record of successful delivery of innovative and transformative solutions to its enterprise customers and their ecosystems. The Group has more than 380 enterprise customers in over 80 countries across Asia, Europe, Middle East, Africa and the Americas.

Under Axis Systems Holdings Limited, SAL was listed on the SGX-SESDAQ on 12 March 2003. It was renamed Silverlake Axis Ltd in 2006 and the listing was transferred to the Mainboard of the Singapore Exchange on 22 June 2011. For more information about SAL, please visit www.silverlakeaxis.com.

Yeahka ranks No. 1 in the non-bank independent QR code payment service market in China

According to the Thematic analysis on industrial payment in China in 2021 report recently published by the Chinese consulting firm Analysys, Yeahka Limited (Yeahka or the Company) (09923.HK) ranks first in China’s non-bank independent QR code payment service market, in terms of its all-round strength based on measures such as transaction volume and merchant number.

According to the report, based on Yeahka’s interim results for 2021, the payment business performed strongly, reaching a transaction size of 990.41billion RMB with a year-on-year increase of 56.1%. The proportion of App-based transaction volume rised from 55.8% in 2020 to 61.8% in 2021, witnessing a year-on-year increase of 72.9%, earning Yeahka the title of No. 1 in the non-bank independent QR code payment service market in China.

The report also cited Yeahka as an example to outline the development strategy and improvement roadmap for the payment industry in China: Utilizing insights from different use-case scenarios as the core, and connections to the ecosystem and specialized in-depth services as the foundation. The report summarized four key attributes for payment institutions to enable transformation of industrial payment: data empowerment, scenario insights, ecosystem connection and specialized services.

Yeahka’s latest core strategy of in-store e-commerce business was also highly recognized. The report stated that the in-store e-commerce business can efficiently leverage Yeahka’s existing capabilities such as online and offline channels, R&D and operational know-hows and has strong growth potential. Yeahka will further expand investment, enrich product offerings, expand operation channels and enhance team effectiveness, further deepening the connection with merchants and consumers.

About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Yeahka’s vision is to build a commercial digitalized ecosystem to enable seamless, convenient and reliable payment transactions among merchants and consumers , and to further provide a rich portfolio of diversified technology-enabled business services, including SaaS digital solutions, which help customers improve their operating efficiency; precision marketing services, which allow customers to effectively reach their target markets; fintech services, which satisfy customers’ diversified financing needs; and in-store e-commerce services, which helps merchants to increase sales and consumers to enjoy local lifestyle discount benefits.

XanPay Announces Partnership with Elitedias Game Platform on New Payment Options across Southeast Asia

  • Elitedias leveled up, offering new payment options catered to local preferences
  • The game top-up company expanded to 3 countries – Malaysia, Indonesia, Australia
  • Homegrown users have grown 5x within 3 months of integration

Elitedias, the Singapore-based game credits top-up platform launches new payment options with XanPay across Southeast Asia to differentiate themselves in the competitive gaming landscape.

Gaming has become very popular during the pandemic. Up to 40% of the world’s top gaming markets are located in Asia and Elitedias was born to cater to this exact demand. The game credits top-up brand first started selling the credits on Carousell to their friends, cheaper than what the Apple’s AppStore or Google’s PlayStore were offering. In a few months, they quickly realized that this would benefit a much bigger gamers market than they had anticipated.

Elitedias team has a strong focus on their homebase market, Singapore. Apart from the usual credit card options, they look to include local payment method options to suit modern preferences. Despite XanPay being one of the newest payment options, the team observed an increasing number of users who chose it as their checkout method.

They also developed a strategy to retain users. When users encountered PayNow QR payment issues on another payment gateway, they are redirected to the XanPay option to ensure purchase can still be completed seamlessly. This has greatly prevented the loss of both their existing users and new users in unexpected situations.

Opening new doors in the Asian market
Southeast Asia’s (SEA) region is the fastest-growing mobile games market in the world, boasting a year-on-year growth of +17.4% with $2.6 billion revenue. XanPay specializes in offering widely adopted alternative payment methods in this market.

Prior to XanPay, Elitedias was focusing mainly on the Singapore market. By using a simple no-code WooCommerce plugin integration from XanPay, the team quickly uncovered new markets in SEA. Cross border payments came streaming in from Malaysia, Indonesia and Australia within the month of integration. After a few months, the number of transactions from these new markets has increased more than 5x and the volume has grown over 10x month-on-month.

The rapid pick-up has demonstrated how widely adopted and familiar are the users to these alternative payment methods offered by XanPay in various countries. Users knew intuitively how to checkout and make easy payments.

“It is very exciting acquiring users from new countries using XanPay. This has given us a head start to grow in strong gaming markets such as Indonesia. The SEA region is booming and we look forward to taking our business to the next level.” – Jordan Chen, Co-founder of Elitedias

Achievements

  • Casual gamers of Elitedias in Singapore who uses XanPay has grown 5x in 3 months
  • Retained users who encounter PayNow issues on other payment gateway
  • Experienced immediate payment adoption in 3 new markets with one integration – Malaysia (MYR), Australia (AUD), Indonesia (IDR)
  • Volume of transactions from the new markets is increasing rapidly month-over-month

For more information about XanPay’s services in the gaming industry, please visit here.

About XanPay
XanPay is a unique payment gateway specialized in serving global customers locally. We partner with organizations and small businesses to scale quickly and achieve outcomes through modern cross-border payment solutions. For us, modern means widely adopted, seamless, convenient and secure. As a fast-growing payment company, we built connections across 490 local banks in over 10 countries, enabling any businesses to accept easy payments competitively. Shaping the next-generation payment landscape by bringing greater financial access.

For more information, visit
Linkedin: https://www.linkedin.com/company/xanpay/
Facebook: https://www.facebook.com/XanPayOfficial
YouTube: https://www.youtube.com/channel/UCOmtkZ6cwwamzmQ_iViuzeA
Website: https://xanpay.com/

Media enquiries
Carrine Eng, Marketing & PR Manager
Email: marketing@xanpay.co

SOURCE: XanPay