Thailand faces credit card default risks
The risk of default on credit card loans rose significantly in the first quarter this year in Thailand, driven by the Bank of Thailand (BoT)'s mandate for a higher minimum payment rate.
PVcomBank wins prestigious international awards
The Vietnam Public Joint Stock Commercial Bank (PVcomBank), in which the State-owned Vietnam Oil and Gas Group (PetroVietnam) holds a 52-percent stake, has been honoured as the Best Trade Finance Bank, the Best Card Service Provider, and the Best Bank for Customer Services in Vietnam for 2021 among the Finance Derivative Awards.
Digital wallets expected to be most popular in Singapore in 2024
Digital wallets are forecast to overtake credit cards to become the most popular online payment method in Singapore by 2024, amidst the e-commerce boom fueled by the COVID-19 pandemic, according to the latest global payments report by Worldpay from FIS.
Over 800,000 USD spent on jewellery in one day using Najib’s credit card
Credit cards belonging to Malaysia’s former Prime Minister Najib Razak were used to spend over 3.3 million RM (800,000 USD) in a single day at a luxury jeweller in Italy, a court in Kuala Lumpur has heard during his trial.
New policy supports kid credit cards
Beginning March 3, 2018, persons who are between 15 and 18 years old can open debit cards, credit cards and prepaid cards without the need to provide proof of income’s sources, according to the State Bank of Vietnam.
Banks expect higher profits from retail banking services
Banks are investing significantly in retail banking services instead of only focusing on corporate lending in the hope of gaining higher profits from the potential segment this year.
Experts: Cashless economy target too high
The Prime Minister recently ratified a project to stimulate non-cash transactions in 2016-20 with a view to reducing the cash transactions rate to under 10 percent.
E-payments booming in Vietnam
Increased use of electronic payment products added 880 million USD to Vietnam's Gross Domestic Product (GDP) from 2011 to 2015, according to a new report released by Moody's Analytics.
Habit of using cash remains popular in Vietnam
According to the Vietnam E-Commerce and Information Technology Agency, though the country's e-commerce market has seen significant growth, the habit of using cash remains overwhelmingly popular.
Agribank rolls out EMV chip cards
State-owned Agribank, one of the largest banks in Vietnam, rolled out a set of debit and credit cards for high security transactions using EMV chip technology in Hanoi on December 17.