Category: Cards/Payments

Boku launches M1ST, the world’s largest mobile payments network, connecting Southeast Asia Digital Consumers to global merchants

Boku Inc. (AIM: BOKU) today announced the launch of the M1ST (aka Mobile First), the world’s largest mobile payments network. The M1ST Payments Network features an unrivalled 330+ mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes, reaching 5.7 billion mobile payment accounts in 90 countries – all through a single integration.

By 2022, middle class in Southeast Asia is expected to wield over US$300 billion in disposable income. The region’s middle class is expected to double to 51 per cent in 2030 from 24 per cent in 2020 – or from 135 million people to 334 million people. According to the World Bank, 45% of consumers globally use mobile wallets vs. just 18% that use credit cards for payments. In Boku’s 2021 Mobile Wallets Report showed that Southeast Asia will become the fastest growing mobile wallet region in the world: the number of mobile wallets in use by SEA consumers is projected to increase by nearly 25.5% to reach 439.7 million mobile wallets in use by the end of 2025.

“In a Confidence Index survey, 52 per cent of the merchants in SEA experienced a high level of growth during H1 2021 and 70 per cent of these merchants are expecting additional growth of more than 10 per cent in Q3 2021. This shows that despite the challenging times, digital consumers continue to make purchases digitally. The launch of M1ST will not only allow SEA merchants and digital consumers to connect within the region, but also to global markets seamlessly, with a payment method that is useful and convenient to them,” said Loke Hwee Wong, Vice President and General Manager, APAC at Boku.

However, mobile payment acceptance for global merchants is highly complex, especially due to the extreme fragmentation of mobile payment methods. M1ST solves a number of these challenges so that merchants can easily accept mobile payments, globally, and at scale, including:

– Standardization – M1ST removes the complexity of disparate technical, legal and contractual considerations, simplifying 330+ payment methods into a single, scheme-like network.
– Digitally Native – M1ST enabled payments are built to support the 0-tap subscriptions and 1-tap checkout transactions that enable new, online business models.
– Future-Proofed – By 2025, nearly 60% of consumers globally are projected to be using mobile wallets; the M1ST Network follows market demand to maximize merchant acceptance.
– Global Settlement – M1ST delivers merchants a single, global settlement, eliminating the complexity of local taxes, foreign exchange, and cash repatriation.
– Local Legal Infrastructure – Through payment licenses and local entities, M1ST is capable of accepting regulated payments in nearly 50 countries.

M1ST is designed to eliminate the difficulty of mobile payment acceptance so that merchants can accept mobile payments more quickly, at lower cost, and focus on building world-class user experiences that drive long-term, valuable relationships with their customers.

“We’ve seen a fundamental shift of consumer purchasing power from west to east, from established to emerging markets, and from credit cards to mobile payments. Today, we’re launching the M1ST Network to enable global merchants to acquire, monetize, and retain mobile-first consumers,” said Jon Prideaux, CEO of Boku. “For merchants to capitalize on the massive potential of mobile-first consumers, they need to accept the payment methods they have and prefer, which are increasingly behind glass screens, not rectangular pieces of plastic. We’ve spent the past decade delivering new customers to our merchants through mobile payments. Now that mobile payments have overtaken credit cards globally, merchant acceptance has moved from a competitive advantage to a strategic imperative.”

About Boku

Boku Inc. (AIM: BOKU) is the fintech powering the world’s largest mobile payments network, M1ST (Mobile First). With 45% of global consumers using mobile payment methods to buy goods online, compared to 18% using credit cards, the future of commerce is mobile-first. Boku’s technology platform helps the world’s most demanding merchants attract, convert, and retain customers using mobile payments. By turning payments infrastructure into a source of sustainable competitive advantage, Boku safely activates a range of new merchant business models – from bundling to subscriptions.

Boku’s platform is used in 90 countries with more than a billion verified transactions in 2020, contributing more than $8 billion to the digital economy. Customers that trust Boku to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Apple, DAZN, Facebook, Google, Microsoft, Netflix, PayPal, Sony, Spotify and Tencent.

Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in Brazil, China, Estonia, France, Germany, India, Indonesia, Japan, Singapore, Spain, Taiwan, Vietnam, and the US. To learn more about Boku please visit: https://www.boku.com

Boku in Asia

In Asia, Boku’s payment partners for Mobile Wallets include: AliPay, Dana, GCash, GoPay, GrabPay, KakaoPay, LINE Pay, Ovo, PayMaya, PayPay, Toss, Touch ‘n Go, Truemoney
Boku also partners with payment partners to offer Direct Carrier Billing: AIS, BSNL, Celcom, Digi, dtac, Globe, Indosat Ooredoo, Jio, Korea Telecom, KDDI, LG U+, Maxis, M1, NTT Docomo, StarHub, Singtel, Softbank, SK Telecom, Smart, Smartfren, Tata Docomo, Telkomsel, Three, TrueMove, Vodafone, XL (amongst others)

Enquiries:
PRecious Communications for Boku, Inc.
Singapore/Asia Pacific: Clarence Lim, boku@preciouscomms.com

Cuentas and WaveMax Sign an Exclusive and Definitive JV Agreement for 1,000 Locations to Offer Advertising on WiFi6 Next Generation Patented Technology in Cuentas’ “Bodegas” Network throughout the USA

Cuentas, Inc. (NASDAQ:CUEN & CUENW) (Cuentas), a leading FinTech provider (Top 4 Fintech) of mobile banking, digital wallet and payment solutions focused on Hispanic and Latino communities signed an exclusive, Definitive JV Agreement to rollout WaveMax’s SharedWiFI6 patented technology (Wavemax Patent) in 1,000 locations.

This Rollout will begin in the greater New York City Metropolitan Area with 500 Locations in NYC, 330 locations in New Jersey and 170 locations in Connecticut. The agreement also includes plans to roll out the service in other areas throughout the US. The parties will install advanced WiFi6 Access Points and Small Cells in these 1,000 “Bodega Stores” in a 50/50 joint venture. These will become Cuentas premium locations that will be near public train stations and mass transit hubs and will be offering all Cuentas products and services on secure networks. The WiFi6 service will enhance the customer experience while in the Bodega store, by automatically connecting them to SharedWiFi high speed internet and receive special in-store offers. Users at Cuentas Points of Sale (POS) locations will also receive promotions for the Cuentas GPR card and discounted products sold through the Cuentas Mobile App.

This unique agreement that our organizations are bringing to the market will allow Cuentas to enter the advertising ecosystem using major brands to advertise through mobile handsets and additionally Cuentas products & services will benefit from 50% discounts for most favored nation pricing on this digital advertising platform.

WaveMax’s SharedFi patented technology allows for a shared network of WiFi access points and small cells. The user has access to this shared network and, if he has opted in, be impacted with location-based advertising. These ads are configured by advertisers using WaveMAX’s dashboards targeting, manually or programmatically, the right audience, at the right time, and the right place.

“I am proud that we were able to sign a definitive agreement with WaveMax for their state of the art technology. This is the first time that Cuentas is announcing to its public shareholders that it was able to complete this unique agreement and I am looking forward to expand this network for the rest of Cuentas’ Bodega network nationwide,” said Arik Maimon, Cuentas Founder and Interim CEO.

“We are very pleased to enhance our original commitment to the first 1,000 bodegas in Cuentas’ network. We are happy to add value to Cuentas’ unique proposition in the US market and its Mobile Banking App,” said Eduardo Velasco, WaveMAX CEO. (Shared Wi-Fi 6 Network)

“Cuentas was recently classified and deemed as a technology sector vertical (Technology Sector), we are very excited for the upcoming events of our company and we are very confident that Cuentas has a bright future,” said Michael De Prado, Founder and Executive Vice Chairman of Cuentas.

ABOUT CUENTAS
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is a Fintech company utilizing technical innovation together with existing and emerging technologies to deliver accessible, efficient and reliable mobile, new-era and traditional financial services to consumers. Cuentas is proactively applying technology and compliance requirements to improve the availability, delivery, reliability and utilization of financial services especially to the unbanked, underbanked and underserved segments of today’s society. Its products are supported by its core methods, procedures, contracts and intellectual property. For more information, visit https://cuentas.com.

ABOUT WAVEMAX CORPORATION
WaveMax is a WiFi-5G sharing company leveraging US patented technology to create an ecosystem monetizing mobile interactions between Telcos, Retailers, Providers, Apps, and Users. WaveMax ecosystem in 2020 supported millions of Wi-Fi accesses and it is rapidly growing, creating new synergies and network effects.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as ‘estimate’, ‘anticipate’, ‘believe’, ‘plan’ or ‘expect’ or similar statements are forward-looking statements. Forward-looking statements contained in this news release include statements relating to other publicly available information regarding Cuentas.

Contact:
Cuentas:
investor@cuentas.com
800-611-3622

WaveMax:
info@wavemaxcorp.com
512.902.8038

SOURCE: Cuentas, Inc.

The Change Company’s Newest Banking App Supports Women as the Next Wave of Financial Investors

The Change Company (ChangeLLC.com) has officially launched its newest neobank ChangeFi (ChangeFi.com) in an effort to support the banking disadvantages women face around the world. Women in the U.S. and abroad are statistically less likely to have a bank account and own homes.

According to GlobalFinDex, women make up 55% of the world’s population without a bank account, a staggering 1 billion women worldwide. Globally, women are making significantly less income than men, which makes it harder for them to afford bank accounts that require a minimum balance. Additionally, some women don’t have the ability to access a branch if they don’t have a vehicle or are stay-at-home mothers. ChangeFi was created to address those needs by charging no overdraft fees, no monthly fees, no minimums while highlighting easy to use money management tools.

As a digital bank, ChangeFi is creating initiatives specifically in the hopes of leveling the playing field of financial opportunities for women and female entrepreneurs. Its parent company, The Change Company, earned Community Development Financial Institution (“CDFI”) certification from the United States Department of Treasury CDFI Fund in May 2018. Their CDFI Fund helps promote access to capital and local economic growth in low income and developing communities across the nation. This designation allows the company to provide equal access to the American Dream for all communities, including women in underserved communities.

ChangeFi sees the women’s banking initiative as one of the most important company priorities in 2021. This focus is reflected not just in their customers, but internally as well. CEO of ChangeFi and President of The Change Company, B.C. Silver discusses the need for female leadership in their financial institution: “From an organizational standpoint, we also empower women in banking. I’m proud to say that my team is predominantly female including several female executives. As a girl dad, gender equality is something I take very seriously. I’m honored to work for an organization that embraces diversity in the workplace which is highlighted in our senior executive leadership as well as within our board of directors,” says Silver.

But when it comes to its mobile banking platform, how does The Change Company actually plan on helping women meet their financial goals? Their uniqueness is found in their several lines of business, which empower women throughout their financial journey – wherever they may be. From Change Lending, which makes the dream of homeownership possible through traditional and non-traditional mortgage products and offers small business, renovation and real estate investor loans to help expand minority business ownership in America, to ChangeFi, an online banking solution that levels the playing field for women and overlooked minority communities by bringing social and racial equity to banking, to Change Lab a startup incubator that develops innovative, digital-first products to help communities on their path to financial freedom.

Change Escrow and Change Appraisal ensure their members’ work with a qualified appraiser who is knowledgeable about specific neighborhoods and is able to provide an accurate valuation of properties. And finally, they have xChange, an online marketplace for socially responsible investors who are searching for loans that will increase social equity for women everywhere. It’s Time for Change!

Visit www.changefi.com for more information.
The ChangeFi Card is issued by Evolve Bank & Trust, Member FDIC. Pursuant to license by Visa.
(C) Change Finance LLC. All rights reserved.

Media Contact:
Nadine Izaguirre, ChangeFi
E: nadine.izaguirre@changefi.com
W: https://www.ChangeFi.com; https://www.ChangeLLC.com

BitWell introduces Alchemy Pay, available in 65 countries

BitWell, the digital asset derivatives trading platform, announced that it introduced the Alchemy Pay payment system on March 30.

BitWell now has smooth access to global payment channels such as Visa, PayPal and Master Card, providing users in over 65 countries and regions access to 300 fiat currency payment channels, as well as 20 digital currency payments, to facilitate global users in purchasing digital assets such as Bitcoin more easily and quickly.

This will significantly lower the barrier for users to participate in BitWell and purchase digital assets, promoting a more convenient experience for investors to access BitWell’s digital asset services.

The BitWell platform token WELL will be listed on the Alchemy Pay (ACH) fiat and digital currency integrated payment platforms. Users will be able to use WELL payment in thousands of online and offline stores represented by global landmarks such as CeLaVi on the top floor of Singapore Sands Hotel, Pricerite Real Value in Hong Kong, Dubai Mall and other well-known merchants, with instant payment.

About BitWell
BitWell is an international digital asset derivatives trading platform that has launched a number of product lines, including options, perpetual contracts, spot trading, and savings, as well as an innovative industry-leading cross collateral model. BitWell is the first platform in the world to launch DeFi options, with the largest variety of options. It is also the platform with the fastest and most complete BSC spot trading and the highest return on flexible finance, providing users with one-stop digital asset trading and financial services. Visit https://www.bitwellex.com.

About Alchemy Pay (ACH)
Alchemy Pay (ACH) is the world’s most adaptable crypto payment infrastructure and the leading provider of decentralized digital currency payment solutions and technology in the Asia Pacific region, developing Asia’s first hybrid cryptocurrency and fiat currency payment solution that provides over a million online and offline merchants with fast, secure and convenient aggregated digital currency and fiat currency payment technology solution.

Alchemy Pay (ACH) payment system now supports more than 65 countries and regions, 300 legal tender and 20 digital currency channels, including global payment channels such as Visa/Master Car/PayPal, and popular payment channels in local areas (e.g. Indonesia, Vietnam, Europe, etc.) such as Dana, OVO, MayBank, FPS and others. Visit https://www.alchemytech.io.

Media contact:
BitWell Technology Limited
E-mail: operation@bitwellex.com
Website: https://www.bitwellex.com

Bussr Rolls Out Nekla Digital Payments to Millions of Users

Bussr, the world-leading artificial intelligence (AI) powered mobility platform, is looking to make its services global in every sense of the word after announcing the rollout of the pioneering digital payment platform, Nekla.

The Singapore-based transport disruptor announced it will offer its passengers a digital payment option through payment innovator Nekla, allowing millions of underbanked users to pay for Bussr services easily.

Bussr’s Mobility-as-a-Service (MaaS) technology serves both as a mobile app for private travelers and a full journey ticketing, payment, and fleet management solution for cities and enterprises. Its leading AI platform continuously monitors millions of data points to help large-scale transport operations perform at optimal efficiency for both passengers and operators.

Bussr currently operates across more than 500 cities, with over 830 transport operators, 60-plus payment partners, and more than 100,000 retail stores. While Bussr has already seen more than 12 million passengers use their platform in less than two years, they believe it is Nekla’s digital-based payment platform that will lead to ubiquity on a global scale.

A challenge Bussr has been facing, that Nekla addresses, is meeting the demand from emerging markets, where 1.7 billion adults are still locked out of the conventional banking system, even though half a billion of that population have access to the internet. This means over a third of the planet’s adult population is unbanked. For Bussr, that means millions of customers who want to use their platform, but have no reliable way of paying.

Nekla’s technology can certainly address the issues of providing service to the unbanked with access to money, all the while benefiting from its inherent strengths of trustworthiness and transparency. But what really captured Bussr’s attention was how Nekla could make digital payments beginner-friendly and accessible to millions of people.

Front-line financial technologies, despite the headlines, are far from reaching mass adoption worldwide. After all, most people don’t have time to study complex algorithms to make a simple payment. Nekla believes that they can bridge the divide between the real world and the digital finance space, and trigger a global, mass uptake of digital finance with a beginner-friendly, easy-to-use payment and lending platform.

Nekla’s solution to this lofty goal is a global payment ecosystem that is accessible to anyone with a $30 smartphone, and data access. Download the app, deposit local currency to your account from a third-party financial service provider, or deposit cash in a retail store. You then have digital currency that can be used almost anywhere on earth.

This will allow Bussr to rapidly expand the scope of their operations to the 5.7 billion people in emerging markets in Asia, Africa, and beyond. It’s numbers like that which make Bussr believe they will earn a large share of the global transit and ground passenger transportation market that is predicted to reach US$908.8 billion by 2027.

Nekla is founded by Silicon Valley and Wall Street pioneers who have banded together to make Finance accessible to everyone on the planet. A wealth of talent and experience is needed to bring such a vast vision to reality, which thankfully, Nekla has. Nekla’s leadership managed the world’s largest internet ventures, led major digital transformation projects for governments and global consulting firms like PwC and Deloitte, and guided industry leaders, acting as Microsoft’s Chief Architect and Google’s Enterprise Architect in billion-customer markets.

Bussr is backed by high-profile investors, such as Bridford Group, Peng Ong of Monk’s Hill, Le Mercier Group, Jack Selby of Thiel Capital, Altitude Partners, Angela Huang, Duncan Clark, Founder of China BDA, Alibaba early investor and author of the book ‘The House That Jack Ma Built, Andrew Huang of Fountainvest, and Alfa Intelligence Capital. There are also strategic angel investors from Facebook, PayPal, Lyft, Spotify, Zoom, Didi, and Impossible Foods.

With this experience and knowledge behind it, and with the backing of such influential partners, Nekla believes it can make Digital Finance the new norm for mass-adopted payments and lending around the world.

Media contact:
Bussr Technologies
Email: press@bussr.com
Website: www.bussr.com

China Securities initiates coverage on YEAHKA LIMITED (9923.HK) with BUY

Chinese investment bank China Securities initiates coverage on YEAHKA LIMITED (9923) with a BUY rating.

In the initiation research report headlined “A Technology-enabled, Industry-leading Mobile Payment Company”, China Securities equity research analyst Ran Zhao is bullish on Yeahka’s addressable market, recognizing the Company’s core competitiveness as “product + channel + ecosystem”.

Key takeaways from the research report include:

Competitive landscape: Market concentration likely to increase
– UnionPay, Lakala and Yeahka are the leading players among third-party non-financial payment service providers. While Yeahka is slightly behind the two peers in terms of transaction volume, it has a larger number of transaction counts. China Securities’ research estimates the market share of these three leading players in China is no more than 30%.

Entry barriers: Limited number of payment licenses
– There are only 31 non-financial payment service providers with national payment licenses in China up to date, of which 16 own a mobile payment license. It is expected that the PBOC will not issue additional payment licenses with ongoing heightened regulatory scrutiny.

Industry outlook: RMB 10 billion+ market ahead
– Increasing penetration of integrated QR code payments could boost one-stop mobile payment services. According to statistics from iResearch and other third-party sources, integrated QR code payment transactions currently accounted for approximately 30% of offline QR code payment transactions, with an average annual transaction volume of more than RMB 200 trillion. Assuming an average payment take rate is 1.5%o, and the market penetration increases 10%, the incremental market size will be RMB 30 billion.
– Yeahka’s technology-enabled business will benefit from the increasing penetration of SaaS. According to China Securities’ conservative estimates, assuming 50% of the 60 million Chinese merchants nationwide purchased SaaS products or services at an annual subscription rate of RMB 1,000, the market size will be RMB 30 billion.

Core competitiveness: product + channel + ecosystem
– Product: as an independent third-party service provider, Yeahka offers SaaS products to help merchants connect with diversified payment, marketing and financial platforms, giving alternative option rather than having to pick between two internet giants.
– Disctribuiton channel: Yeahka’s distribution network spans 8000 partners and more than 300 cities in China. Its payment services served around 4.7 million merchant customers and 491.9 million consumers as of June 30, 2020.
– Ecosystem: Yeahka’s SaaS products developed for merchants include a suite of one-stop payment services, shop operation services and marketing services. The number of technology-enabled service customers reached 585,000 in the first half of 2020.

CICC Initiates Yeahka at OUTPERFORM with HK$98.20

CICC initiates coverage on Yeahka Limited (9923), a leading payment-based technology platform in China, with an “outperform” rating and a target price of HK$98.20. CICC is upbeat on Yeahka’s dual-growth-driver (payment + value-added services) business model and the growth potential of the Company’s QR code payment and marketing services.

Key takeaways from the report include:

Core payment services: Yeahka concentrates on offering integrated QR code payment services for small and micro merchants: 1) QR code payment: CICC expects Yeahka to achieve rapid growth in the next 5 years; 2) QR code payment services feature high-frequency and wide consumer base; 3) Yeahka’s high revenue-sharing ratio for sales agents and its strategy that targets small and micro merchants will drive rapid growth in merchant volume.

Value-added businesses: Huge room for commercialization based on its “data + scenario + traffic” business model: 1) Marketing services: CICC expects high-frequency transactions (QR code payment) and dual expansion drivers (proprietary R&D + M&A) to be the key drivers for Yeahka’s revenue and profit growth; 2) Merchant SaaS products empower small and micro merchants to improve customer stickiness. CICC sees monetization potential in the long run; 3) Yeahka’s fintech services business is expected to achieve mild growth in the short-to-mid run.

Strong internet background enables Yeahka to provide targeted services; increasing R&D investment is expected to accelerate product upgrades: 1) Yeahka’s management team possesses extensive experience in the internet sector 2) Yeahka has a solid shareholder base, which includes internet giant Tencent; 2) Its strong R&D team is expected to boost product upgrades.

ADERA to Broaden and Deepen its Business Presence in Chongqing, China

Singapore-based Financial Services Technology Group, ADERA, to Broaden and Deepen its Business Presence in Chongqing, China; Signs 1st MOU and Letter of Intent to Develop the First Supply Chain Financing Platform for Cross Border Trade Activities between Singapore and Chongqing and Undertakes 2nd MOU to Establish a Fintech and Data Centre in Chongqing

Adera Global Pte. Ltd. (“ADERA” or the “Company”), an innovative financial services technology group headquartered in Singapore with a track record of more than 35 years, is pleased to announce that it has entered into two Memorandum of Understandings (“MOU”) and a letter of intent to broaden and deepen its business presence in Chongqing, China.

Highlights:

– Supported by major Chinese institutions in the banking and trade industries, the supply chain financing platform will utilise ADERA’s blockchain solutions and it will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group and CCIF Pte Ltd
– Greater economic collaboration will facilitate more trade between Singapore and Chongqing and the supply chain financing platform will enable enterprises in Singapore and Chongqing to digitalise and standardise their trade processes and invoices
– With enhanced accountability and transparency via the supply chain financing platform, it fosters greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing
– The fintech and data centre established by ADERA will be located in Bishan, Chongqing and it will focus on the development of fintech solutions, artificial intelligence and secured data capabilities, among other new technology innovations
– ADERA will also be participating in SMART CHINA EXPO 2020, where the Company will showcase its latest fintech and digitalisation innovations in this Virtual Expo

The MOUs and letter of intent are part of the China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity and it is the third intergovernmental cooperation project between China and Singapore which mainly covers four key areas of cooperation: financial services, aviation industry, transportation logistics and information, and communication.

Previously, such intergovernmental cooperation projects have effectively facilitated the origination and completion of several China-Singapore cooperation projects. In 2018, 16 cross-border financing projects under the China-Singapore Demonstration Initiative on Strategic Connectivity were followed through.

Strategic Collaborations with Established Chinese Private Enterprises and Government Agencies in Chongqing

Chongqing, in southwest China, is one of four municipalities directly controlled by the central government – the other three are Beijing, Shanghai, and Tianjin. Chongqing has posted double-digit economic growth for more than a decade and in 2019, Chongqing posted a GDP growth of 6.3% Y-o-Y to RMB 2,361 billion in 2019.

ADERA’s first MOU and letter of intent relates to the development of the first supply chain financing platform for cross border trade activities between Singapore and Chongqing.

Utilising ADERA’s blockchain solutions and technology capabilities, the supply chain financing platform will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group, a state-owned enterprise, and CCIF Pte Ltd, a state-related business agency.

In addition, the supply chain financing platform has obtained the support from major Chinese institutions in the banking and trade industries that comprise of Bank of Chongqing, YuMaoTong Foreign Trade Service Platform and Chongqing Tianlian Citrus Network Technology Co. Ltd.

To facilitate a greater volume trade activities between Singapore and Chongqing and improve efficiency between business enterprises in both countries, the blockchain-based supply chain financing platform will integrate multiple e-invoicing standards in China to conform to the PEPPOL e-invoicing standard that is recognised internationally.

With enhanced accountability and transparency via the supply chain financing platform, it can foster greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing.

The pilot supply chain financing platform is expected to be introduced by the end of 2020 and there is potential to replicate the platform across other key markets in China and connecting more business enterprises and transactions between China and Singapore.

The second MOU is signed between ADERA and Chongqing Bishan District Government to establish a fintech and data centre, spearheaded by ADERA, which will be located in Bishan, Chongqing. The fintech and data centre will focus on the development of fintech solutions, artificial intelligence, and secured data capabilities, amongst other new technology innovations.

Commenting on these milestones, Mr. Lennon Tan, Chairman of ADERA, said: “The MOUs and letter of intent reflect our strong commitment to serve the business communities in both Chongqing and Singapore with our technology innovations and deep industry experience.

Working together with our established MOU partners in Chongqing, we look forward to develop an enhanced ecosystem of trust that transcends geographical barriers and creates new value propositions that will benefit stakeholders.

Paving the way for the mainstream adoption for digitised supply chain documentation and data integration, we believe that our blockchain-based supply chain financing platform will lead to a higher volume of cross border trades and faster access to supply chain financing while lowering risks at the same time among transacting parties.”

Mr. Lennon Tan, added, “Sharing a common vision of developing and commercialising new technology innovations with the district government in Bishan Chongqing, our fintech and data centre in Chongqing aims to be a gateway to enable more advanced technology applications to create a more inclusive community.”

Showcasing ADERA’s Latest Fintech and Digitalisation Innovations in SMART CHINA EXPO 2020

In addition, ADERA is participating in the SMART CHINA EXPO 2020, which is an annual gathering for international enterprises, industry leaders, scholars and experts, and government officials to share and explore the latest developments in the fields of smart technology, smart industry, smart manufacturing, and smart application.

Due to the COVID-19 pandemic, SMART CHINA EXPO 2020 has been transformed into a virtual platform and ADERA will be showcasing its latest fintech and digitalisation innovations in the following areas:

– Blockchain driven cross-border e-invoicing & supply chain platform
– Digital identity solutions enabling enrolment to verification
– Fintech transformation for banking institutions with workflow automation & intelligent kiosk
– Biometric contactless attendance and temperature-taking system with contact tracing
capabilities

About Adera Global Pte Ltd (“ADERA”)
Serving global banks, financial institutions, telecommunications and government agencies around the world, ADERA is a financial services technology group headquartered in Singapore providing a platform of innovative fintech, digitalisation and data security solutions.

With an established track record of more than 35 years, ADERA aims to enable our customers to digitalise and enhance their business models to broaden access to new markets, improve end- users experience and develop greater business efficiency.

For more information, please visit ADERA website: https://aderaglobal.com

Issued on behalf of Adera Global Pte. Ltd. by 8PR Asia Pte Ltd.

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

JCB and Viva Wallet Expand Collaboration Across Europe

Viva Wallet set to bring JCB acceptance to merchants spanning 23 countries across Europe from late 2020

JCB and Viva Wallet announce an extended European roll-out, which will enable contact and contactless payment between Viva Wallet’s European merchants and JCB’s 140 million cardmembers through both face-to-face and online commerce transactions.

The roll-out will be extended with an additional 6 European nations, over and above the 17 countries which have already been enabled, from September 2020. This means that Viva Wallet will bring JCB acceptance to merchants spanning a total of 23 countries across Europe from late 2020.

This collaboration will support around 80,000 merchants in Greece, more than 3,000 merchants in Belgium, and more than 6,000 merchants in the United Kingdom (and other countries) across multiple industries including retail, food, and transportation.

In 2019, JCB and Viva Wallet shared their joint enablement plans, which were initially geared to serving merchants across 12 European countries, but through an extended roll-out would bring JCB acceptance to a new total of 17 various nations across Europe.

JCB Contactless provides cardmembers with a secure, fast solution for making payments at convenience and grocery stores, taxis, as well as other retail purchases. Merchants will now be able to increase their brand footprint and welcome sales from 24 countries and territories where JCB cards are issued, including Japan, China, Korea, Thailand.

Over and above streamlining face-to-face transactions, this partnership will enable online JCB acceptance with J/Secure™1.0 (based on Visa’s 3-D Secure Core Protocol Specifications). J/Secure™1.0 is designed to be an additional security layer for cardmembers’ online credit and debit card transactions and provides cardmembers with a safe purchase experience. J/Secure™2.0 (based on the EMV 3-D Secure Protocol and Core Functions Specification) is set to follow the additional September 2020 expansion.

Mr. Makis Antypas, CIO and Co-Founder of Viva Wallet, said: “We always strive to combine our cloud-based processing infrastructure, our multiple principal memberships for acquiring and issuing services, and our participation in various payment systems across Europe, to benefit our merchant base making their payments’ journey as seamless as possible. We are very excited about our partnership with JCB, and we welcome their cardmembers, not only to make easier and faster online and offline payments, but also to accommodate the increasing demand for alternative payments methods in Europe, something not many other payment providers can support.”

Mr. Thomas Heigl, Senior Vice President, Sales and Marketing, JCB International (Europe) Ltd., said “We’re thrilled to partner with Viva Wallet and to welcome increased, secure sales for Viva Wallet’s merchants across 17 European countries. This is a key achievement for us as we increase JCB cardmember acceptance in both brick and mortar establishments and through e-commerce transactions. The opportunity to extend into other territories from September 2020 is one we look forward to also.”

About EMV®

EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo.

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes 34 million merchants and over a million cash advance locations in the world. JCB cards are now issued in 24 countries and territories with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. Visit www.global.jcb/en/ and www.jcbeurope.eu.

About Viva Wallet

Viva Wallet are a global cloud-based digital payments factory with a localised mindset and configuration. Their mission is to change how businesses pay and get paid, and they aim to be the first payment provider that is entirely cloud-based, ensuring 24/7 uninterrupted service across Europe. Customers using a Viva Wallet card reader or payment gateway, along with a Viva Wallet Business Account, can earn back acceptance fees by making payments using their Viva Debit Card. Visit www.vivawallet.com.

JCB Press Office:

JCB International/Europe
Contact: India Stone
Email: istone@jcbeurope.eu
Phone: +44 020 7087 4754

JCB (Head Office in Japan)
Contact: Kumiko Kida, Ayaka Nakajima
Email: jcb-pr@jcb.co.jp
Phone: +81 3 5778 8353

JCB and Mcredit launched Mcredit JCB Credit Card in Vietnam

MB SHINSEI Finance Limited Liability Company (Mcredit) – one of the leading consumer finance companies in Vietnam and JCB International Co, Ltd. (JCBI) – the international operations subsidiary of JCB Co., Ltd., announced the launch of the Mcredit JCB Credit Card.

JCB Credit Card (Standard)
JCB Credit Card (Gold)

The new Mcredit JCB Credit Card is the very first JCB card launched in collaboration with a finance company in the Vietnamese market and offers 2 different card grades: standard and gold card. The holders of Mcredit JCB Credit Card can access the JCB acceptance network globally with about 34 million merchants and over a million ATMs in the world.

The card offers high security transactions with an EMVCo standard chip and 3-D Secure technology. Mcredit JCB Credit cardmembers also enjoy a number of attractive features and exclusive benefits, such as JCB PLAZA in several world-class destinations and especially the lowest withdrawal fee in the market at only 1.5% of the withdrawal amount. The issuing requirements are also very simple with the submission of the applicant’s personal ID and his or her family register book only. Mcredit JCB Credit cardmembers also enjoy zero interest installment at more than 40,000 online and offline merchants in Vietnam.

About Mcredit

The MB Shinsei Finance Limited Liability Company (Mcredit) is a joint venture, with the two major shareholders being the Military Commercial Joint Stock Bank (MB) and Shinsei Bank (Japan). As a member of the Military Commercial Joint Stock Bank – a reputable financial group in Vietnam for 25 years – Mcredit has been supported from a network of service points, partnerships, and customer relations systems. With Shinsei Bank’s more than 50 years of experience in risk management and development of operating procedures in Japan, Mcredit has inherited an advanced service model for customers.

By the end of the first quarter of 2020, Mcredit’s market share of customer loans maintained top 4 of the market with revenue of nearly 10,000 billion VND, increasing by 36% over the same period of 2019. In 2020, besides challenging business goals, Mcredit focuses on improving governance and operations to optimize processes and operational efficiency. At the same time, Mcredit will take priority to take advantage of information technology system to gradually deploy digital business and application of artificial intelligence, maintaining the top 4 leading consumer finance companies in Vietnam.

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes over 34 million merchants and over a million cash advance locations in the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers.

As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information: www.global.jcb/en/

Contact
JCB
Kumiko Kida, Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp