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.
Taking advantage of the upcoming Tet (Lunar New Year) holiday, when demand for online transactions, payments, gifts and to send lucky money increases, many hacker groups are stepping up their fraudulent activities aimed at users of banking services and e-wallets.
Taking advantage of the upcoming Tet (Lunar New Year) holiday, when demand for online transactions, payments, gifts and to send lucky money increases, many hacker groups are stepping up their fraudulent activities aimed at users of banking services and e-wallets.
E-wallets are gearing up to offer online lucky money services as the Tet (Lunar New Year) holiday approaches amid the third coronavirus outbreak in Vietnam.
A group of university students recently invented QQueue - an app that allows patients to virtually wait in line, reducing waiting time and the chance of groups gathering in public spaces.
Indonesian state-owned electricity giant PLN has secured a 500-million-USD “green loan” with a guarantee from the World Bank’s Multilateral Investment Guarantee Agency (MIGA) to keep seven renewable energy projects alive amid the COVID-19 pandemic.
Twelve large ecosystems will be established across retail and institutional services in Vietnam by 2025, constituting a revenue pool of about 2.4 trillion VND (100 billion USD).
Singapore is opening up access to the payment rails for non-bank e-wallet players that meet the necessary risk-management standards, according to managing director of the Monetary Authority of Singapore Ravi Menon.
The COVID-19 pandemic may have caused disruptions to start-ups and innovative enterprises, but it had also created opportunities for them to turn into real businesses.
The State Bank of Vietnam is drafting a circular regarding cashless payments which might allow domestic commercial banks and domestic intermediary payment companies to co-operate with foreign intermediary payment companies to provide international payment services.
The cash flow remittance of Viettel Global – a member corporation of Viettel Group, to Vietnam in the third quarter of the year reached a record level of 86.5 million USD, up 56 percent from the same period last year.
The picture of the domestic aviation industry remains gloomy as the COVID-19 pandemic has left a strong impact on airlines, eating quickly into their wallets. The national flag carrier Vietnam Airlines forecast that the domestic aviation market will gradually recover this year and in 2021 despite difficulties, but it will take a very long time for the international market to regain its health.
Prime Minister Nguyen Xuan Phuc has sent a letter lauding Hanoi police’s recent feat of uncovering a fraud scheme seeking to profit from US citizens’ demand amid the COVID-19 pandemic.
There have been signs of reduction in the habit of using cash among people, but the switching to cashless paymentsremains slow, according to the State Bank of Vietnam (SBV).
More than 200 entries have been sent to Viet Solutions 2020 - a competition seeking digital transformation solutions for Vietnam - with 72 percent coming from overseas, the organising board said on August 26.
Police in Hanoi’s Hoang Mai district said on August 21 they had issued decisions to start legal proceedings against and detain four suspects for allegedly engaging in a wire fraud scheme seeking to profit from the COVID-19 pandemic.
The COVID-19 pandemic has become a golden opportunity for e-commerce trading floors, as well as social networks such as Facebook. However, the country has lost billions of dong in tax revenue due to e-commerce as there are no specific regulations on the sector.
World
