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Early-stage discussions are underway between Singapore’s local banks and China’s UnionPay International to potentially link Singapore’s PayNow and UnionPay https://lnkd.in/gDQ3MHQf #fintech #Singapore #China #payment #crossborderpayments

#CBDC #crossborderpayments #payments : Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage #singapore and #china have agreed to collaborate on a pilot programme that uses the e-CNY, China’s central bank digital currency (CBDC), for cross-border transactions. This programme is designed to ease payments for travelers from both countries during their overseas visits. This pilot programme is part of a series of initiatives announced following the 19th Joint Council for Bilateral Cooperation (JCBC) in Tianjin. These initiatives aim to expand #digitalfinance and #capitalmarkets cooperation between the two nations. Early-stage discussions are also underway between Singapore’s local banks and China’s UnionPay International to potentially link Singapore’s PayNow and UnionPay. This could lead to more secure, convenient, and cost-effective cross-border payments and remittances. https://lnkd.in/gDQ3MHQf

Early-stage discussions are underway between Singapore’s local banks and China’s UnionPay International to potentially link Singapore’s PayNow and UnionPay https://lnkd.in/gDQ3MHQf #fintech #Singapore #China #payment #crossborderpayments

Foreign workers making remittances to family may find it a cheaper option than bank transfers. Foreign-exchange providers will compete and Nexus will show customers the best currency conversion rate. Tourists will be able to spend out of their home-country bank accounts at shops abroad that are too small to accept credit cards. Even governments may use the protocol to send pensions to their citizens living overseas. It makes no sense to shell out more than $12 for moving $200 across borders. Nexus can slash the charges by half. Even if it is ultimately supplanted by superior technology, it will still be a welcome innovation — just like Netscape, which brought the first wave of internet users online before being dethroned by better browsers. For now, it’ll be to great to see your money gone, as long as it reappears with the right person in 60 seconds. #moneytransfer #financetech #internationaltransaction #crossborder #businessstrategy #banking

#Nexus set to revolutionize Asean #crossborderpayments | Mamerto Tangonan, the deputy governor and head of the #payments and currency management sector at the Bangko Sentral ng Pilipinas, tells Euromoney how #southeastAsian countries are using advances in #digitalpayments to revolutionize #crossborder transactions | #philippines http://spr.ly/6045gvCcl

We are thrilled to share our journey as a pivotal solution provider for the groundbreaking BUNA and RAAST payment systems. Our commitment to innovation and excellence has enabled us to contribute significantly to the financial infrastructure, facilitating seamless and secure transactions across borders. The collaboration with BUNA and RAAST underscores our dedication to enhancing financial connectivity and efficiency in the region. These systems are not just about transactions; they are about creating opportunities for businesses and economies to thrive in an interconnected world. Stay tuned for more updates as we continue to innovate and contribute to the world of fintech. Together, we are paving the way for a more inclusive and efficient financial future. #CMA_Small_Systems_AB #BUNA #RAAST #Fintech #Innovation #FinancialInclusion https://lnkd.in/geFaensB

The EU is adopting regulations to increase accessibility to instant payments! 🇪🇺💸 📲 PSPs in the eurozone can begin alignment with other countries create faster payments technology. Read more: https://lnkd.in/erbSnaM8 #EURegulations #InstantPayments #EurozonePSPs #FasterPayments #PaymentTechnology #FinancialInnovation #DigitalPayments #BankingTech #FinTechNews #GlobalPayments

Yet another small step in the growing integration of financial infrastructure across Asia The benefits start small but could grow potentially game changing, for travellers, as well as for fintech innovators. #Japan #Payments #ASEAN #financialinfrastructure #banking #qrcodes #fintech https://lnkd.in/eTmfST97

In Vietnam, banking data was exploited in 91% of financial fraud cases reported this year, necessitating updates to Vietnam's legal framework to combat fraud effectively. Enhancing these regulations will support fintech innovation, reducing traditional barriers and fostering international trade. To find out more, sign up here to receive this newsletter today! https://lnkd.in/grxfHRGh #Vietnam #fintech #banking #fraud #internationaltrade