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  • TNG eWallet Kini Boleh Digunakan di China Tanpa Perlu Aplikasi Tambahan

    Lebih daripada 10 juta peniaga Alipay di China kini menerima kod QR Alipay+ daripada TNG eWallet, membolehkan rakyat Malaysia membuat transaksi tanpa wang tunai di China seperti orang tempatan. Ini adalah berita baik kerana anda tidak perlu memuat turun aplikasi tambahan dan cukup memastikan baki mencukupi di dalam TNG eWallet anda.

    Namun, terdapat beberapa kekangan kerana sesetengah peniaga kecil di China mungkin menggunakan kod QR peribadi mereka untuk menerima pembayaran dan kod QR Alipay+ mungkin tidak diterima oleh peniaga Alipay lama. Pada masa ini, pembayaran Alipay+ melalui Touch ‘n Go eWallet tidak menyokong pemindahan peer-to-peer. Kod QR bukan peniaga pada masa ini tidak disokong oleh dompet luar negeri disebabkan oleh sekatan peraturan.

    Untuk menggunakan TNG eWallet anda di China, cukup tekan Bayar dan kemudian geser ke atas untuk menunjukkan kod QR Alipay+ anda seperti yang ditunjukkan di atas. Kemudian pilih China Daratan dan tunjukkan kod QR anda kepada peniaga Alipay. Aplikasi TNG eWallet akan memaparkan kadar pertukaran mata wang asing semasa kod QR dipaparkan.

    Pengguna Touch ‘n Go eWallet kini boleh bertransaksi di China tanpa perlu memuat turun aplikasi tambahan. Walau bagaimanapun, terdapat beberapa kekangan yang perlu diambil kira sebelum membuat transaksi menggunakan TNG eWallet.

  • Bank of America Strategists Suggest Bitcoin Rally Has Room to Run

    Bitcoin’s impressive 2023 rally may have some legs left, according to strategists at Bank of America Corp, who believe that cryptocurrency exchange flows and personal digital wallets suggest further gains. The week ending April 4 saw a net $368 million of Bitcoin transferred to personal wallets, marking the second-largest net outflow of Bitcoin from crypto exchanges this year, the strategists wrote in a note.

    According to the strategists, when investors transfer tokens from exchange wallets to their personal wallets, it indicates that they intend to hold onto the assets, which may lead to a potential decrease in sell pressure. This suggests that investors believe in the long-term potential of Bitcoin, which has seen year-to-date growth surpassing some major asset alternatives.
    While Bitcoin’s growth has been remarkable this year, it’s worth noting that the cryptocurrency experienced a difficult 2022. However, Bitcoin’s resilience to regulatory pressure could be another reason why it’s bouncing back. With regulators scrutinizing the industry, it seems that investors may be holding onto their digital assets, hoping that regulators will eventually become more favorable towards cryptocurrencies.
    Bank of America strategists’ note highlights how Bitcoin’s resilience and continued growth in 2023 may be a result of investors’ confidence in the long-term potential of the digital asset. Additionally, the note suggests that regulatory pressure may have been a significant factor in the wider holding of Bitcoin among investors.

  • The Universal Monetary Unit (UMU): The Next Step in Interoperable CBDCs

    As the world becomes increasingly digital, central banks around the globe have been exploring the potential of central bank digital currencies (CBDCs). While CBDCs offer many benefits, for them to truly gain ground and become a widely used form of currency, they need to be interoperable across borders. This is where the Universal Monetary Unit (UMU) comes in.

    Recently unveiled by the Digital Currency Monetary Authority, the UMU is an international version of a CBDC. According to the announcement, the UMU is designed to “act legally as a money commodity” and “can transact in any legal tender settlement currency, and functions like a CBDC to enforce banking regulations and to protect the financial integrity of the international banking system.”

    One of the unique features of the UMU is its interoperability. It can exist alongside and interact with far-flung payment systems, facilitating trade and commercial payments in the global age. Additionally, banks can attach SWIFT codes and bank accounts to a UMU digital currency wallet and transact “SWIFT-like cross-border payments over digital currency rails.”

    This interoperability is crucial for the success of CBDCs, as it allows them to coexist with other currencies and payment systems. The UMU provides a reliable and familiar method for cross-border payments, potentially addressing issues such as high transaction fees, long processing times, and currency conversion costs.

    The UMU is still in the early stages of development, and it remains to be seen how it will be adopted and implemented by banks and financial institutions. However, its potential for facilitating global trade and commerce, as well as its interoperability, make it a promising development in the world of CBDCs.

    The Universal Monetary Unit (UMU) represents the next step in creating interoperable CBDCs. Its ability to transact in any legal tender settlement currency and function like a CBDC to enforce banking regulations and protect the financial integrity of the international banking system is a significant development in the world of digital currencies. The UMU’s SWIFT-like functionality is also a major advantage, potentially addressing issues related to cross-border payments. It will be interesting to see how the UMU develops and if it inspires other countries to adopt similar initiatives in the future.

  • Visa+ Launches New P2P Payment Service Across Different Platforms

    Visa has announced the launch of a new service, called Visa+, that will allow users to send and receive P2P payments across different platforms. Initially, the service will link Venmo and PayPal, and then expand to include other Visa partners. This move is set to overcome a major obstacle in P2P payments, where users have to be part of a specific network to transfer funds.

    What sets Visa+ apart is that users do not need to have a Visa card to use the service. The heart of Visa+ is a new payment credential called Visa+ Payname, which is a personalized payment address that can only receive payments. Users can create a Visa+ Payname through a participating app, and share it with a sender on a different app. When a payment is made, the sender’s app “calls” the Visa+ service, requests an underlying token, and then “pushes” the payment through to the recipient’s wallet, which is credited in real-time.

    Visa has implemented a multi-layered system of controls to ensure security and prevent fraud. The system includes protocols for stepped-up recipient verification, and senders can remove this verification for subsequent transactions with the same recipient. In the US, transaction limits for the service are currently capped at $2,500.

    This new service is a game-changer for P2P payments, as it allows for greater flexibility and convenience for users. With Visa+ Payname, users can easily transfer funds across different platforms without the need for a specific P2P network or a Visa card. This development has the potential to disrupt the P2P payments industry and lead to the creation of more innovative payment solutions.

    In conclusion, Visa+ is a significant step forward for the P2P payments industry. The service allows users to send and receive payments across different platforms without the need for a specific network or a Visa card. The multi-layered system of controls ensures the security of transactions, and the $2,500 transaction limit provides an added layer of protection. This development has the potential to change the way we transfer funds and paves the way for more innovative payment solutions.

  • Visa, Mastercard and PayPal hasten launch of crypto debit cards

     Why You Should Never Use a Debit Card to Pay for Anything - Clark ...

    Enterprise companies like Mastercard, Visa, and PayPal have shown
    a lot of interest in the crypto card/reward space. With plans to
    partner with many blockchain companies, Visa intends to work with
    licensed and regulated digital currency platforms such as Coinbase
    and Fold and create a bridge between Visa’s network of 61 million
    global merchants and cryptocurrencies. With Wirecard out of the
    picture, Visa quickly jumped in to fill the void of the WirecardCrypto.com partnership and launched the MCO card via
    Crypto.com. 

     In an expansion of its current cryptocurrency program, Mastercard
    is making it easier for companies in the digital currency space to
    issue branded payment cards on Mastercard’s network. Wirex
    became the first native cryptocurrency platform to gain principal
    membership. 
    Soon, PayPal’s 265 million users will be able to buy bitcoin via the
    Venmo mobile payment app which could begin rolling out within the
    next 3 months. 
    The cryptocurrency industry has also been making progress in the
    issuance of cards as well. For example, Binance announced recently
    that its payment card, Binance card, will be coming to Europe in the
    next year. Developing interest in blockchain rewards, last year Nike
    patented CryptoKicks—tokenized shoes on the ethereum
    blockchain—and partnered with Plutus to offer cryptocurrency
    rewards on Nike product purchases

  • These apps could become the next TikTok

     How TikTok Became The Music Industry's New Fame Machine - Rolling ...

    • Triller is very similar to TikTok, though it focuses more on AI-guided
    editing tools and is integrated more closely with the music industry:
    a result of its star-studded group of investors, which includes Snoop
    Dogg and Eminem.

    Triller video app offers TikTok alternative | Fox Business

     • Clash Video: Clash is a halfway house app, with videos no longer than
    21 seconds, but includes a raft of similarities to TikTok: The for You
    page equivalent is called ‘Now Serving’. However, it steps away from
    the idea that users would want to use music in the background of
    their videos, instead relying solely on original audio that the poster
    includes while recording the video. 

    Clash Video short-video app signs up 200k users in its first week

    • Byte: Byte has seen a resurgence and is currently sitting second on
    many App Store charts. It’s been embraced by Alt TikTok (a
    collection of users who tend to post oddball videos that are layered
    full of in-jokes), who have adopted the app because of its long
    lineage back to Vine and the origins of short form video, and the
    quirky spirit of comedy that original Vine creators and Alt TikTok
    share.

    Byte, a 6-Second Looping Video App, Launches on iOS and Android ...

     • Instagram Reels: Facebook-owned Instagram has a new product
    “Reels” launching across some of TikTok’s biggest markets. Reels
    working within Instagram, and allowing users to create 15-second,
    looped videos. There is a tab in explore that leads to a feed of Reels
    content, much like TikTok’s “For You” page.

    Instagram Stories launches TikTok clone Reels in Brazil | TechCrunch

    https://www.wired.co.uk/article/tiktok-alternatives-triller-byte-reels

  • Standard Chartered to launch institutional crypto custody solution

    Standard Chartered to miss growth targets amid coronavirus fears | Standard Chartered | The Guardian  

    Standard Chartered is the latest bank to get into the crypto custody
    business, unveiled that its innovation, ventures and fintech investments
    unit, SC Ventures, has been working on a solution for the institutional
    market that would support cryptocurrencies such as bitcoin but also
    security tokens. The first pilot of the service could launch before the end
    of the year. The firm has been developing “one of the most secure crypto
    custody solutions on the market,” adding that as many as 20 institutions
    had expressed interest in the solution. Though the venture will be based
    in the UK, it will be open to clients from around the world. With this new
    offering, the firm was looking to provide institutional investors with a
    custodial solution that caters to this segment’s specific needs notably in
    terms of security, citing features such as segregated accounts. This could
    potentially kick-start the institutional adoption of cryptocurrencies. SC
    Ventures has been “developing a venture to meet the demands of
    institutions for an end-to-end institutional grade custodian of digital
    assets, which meets regulatory standards.

  • GrabPay rides on MY e-wallet initiative to drive cashless

    GrabPay – Official ePENJANA e-wallet | Grab MY

    Payment solution GrabPay has
    jumped on board the Malaysian government’s ePENJANA initiative,
    under which the government will channel RM750 million into the hands
    of an estimated 15 million e-wallet users to help local businesses recover
    by encouraging them to shop for their wants and essentials. The
    ePENJANA initiative comes under the short-term economic recovery
    plan, with the Malaysian government providing RM50 ePENJANA credits
    to users. Corresponding to the RM50 contribution from the government,
    Grab will be topping up an additional RM50 worth of vouchers which can
    be used for any Grab services or at any of Malaysia’s favourite restaurants
    or shops nationwide. In addition to this, claimants can also earn
    GrabRewards points which can be used as savings for any online or offline
    transaction.

  • Revolut rolls out rewards offering in SG

    Fintech startup Revolut applies for European banking license

    Revolut has unveiled lifestyle offerings called Revolut Rewards to all
    Singapore customers. With Revolut Rewards, customers can now access
    special discounts and cashback on a number of brands that they know
    and love, simply by using their Revolut Visa card. Revolut Rewards
    kickstarts with cashbacks for top brands, including Amazon, Nike, Lazada
    and Zalora that are instantly available to all Revolut customers in
    Singapore. Customers can expect curated personalized offerings through
    Revolut’s behavioral intelligence platform. There is no additional
    subscription to pay to use Revolut Rewards; customers simply must be a
    Revolut customer based in Singapore. Revolut welcomes local brands to
    come onboard Revolut Rewards programme, which features Singapore’s
    most popular categories such as: health and beauty, apparel &
    sportswear, electronic gadgets, food & beverages and many more.

  • Covid-19 intensifies personal finance risk to SMEs

    COVID-19 Financial Services Response Network | World Economic Forum

    Survey shows seven in 10 small-business owners have used some form
    of support for their business since March. The most common option was
    PPP loans, with 30% saying they received one, followed by 24% saying
    they turned to personal credit cards and business savings accounts. In
    total, 35% of owners used either personal credit cards or savings
    accounts, with 10% using both, to support their business. This personal
    funding has further blurred the line between personal and business
    finances. Small businesses that bring in less than $1 million annually
    typically need the owner to personally back the debt, meaning they’re
    responsible if the company can’t pay. This leaves entrepreneurs on the
    hook for the risk, even if it’s in the name of their business. While this has
    always been the case, the pandemic has intensified the personal financial
    risk to small entrepreneurs