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5 PayTech partnerships in APAC this week

By Gloria Mathias

May 08, 2024

  • APAC
  • ASB
  • BlinkPay
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Payments Technology, Payment Deals, Payments Partnerships, Payment Alliances, Payment Collaborations, PayTech News, Payments technology, ASB, BlinkPay, APAC, Singapore News, China News, India News, Cross border payments, Open banking solutions, Digital Payments, APAC’s FinTech sector is changing rapidly due to technology innovation, regulatory reforms, and changing consumer behaviour.

One prominent trend is the rapid adoption of digital wallets and mobile payment platforms, particularly in markets like China, India, and Southeast Asia. These solutions offer seamless and convenient payment experiences, leveraging technologies such as QR codes, NFC, and biometrics to facilitate transactions.

Additionally, the rise of real-time payments infrastructure, propelled by initiatives like India’s Unified Payments Interface (UPI) and Thailand’s PromptPay, is revolutionizing the speed and efficiency of money transfers, both domestically and across borders. The increasing integration of blockchain and distributed ledger technology (DLT) is enhancing transparency, security, and cross-border payment efficiency, particularly in markets with complex remittance corridors.

As APAC continues to lead global fintech innovation, payments technology remains a focal point for startups, incumbents, and regulators alike, driving forward financial inclusion and economic growth across the region.

Listed below are 5 PayTech partnerships that took place in APAC this week:

New Zealand’s ASB Bank has partnered with Māori FinTech BlinkPay, allowing customers to shop online securely without credit or debit cards. Through BlinkPay technology, users can click “Blink PayNow,” redirecting them to ASB’s mobile banking app to log in and confirm their payment.

Kaspi.kz, a joint stock company that operates the Kaspi.kz Super App for consumers and the Kaspi Pay Super App for merchants, has announced a new partnership with Alipay + to enable Kaspi.kz customers to pay using the Kaspi.kz Super App and QR code throughout China.

SmartStream has launched its TLM Reconciliations Premium Digital Payments Control solution at AYA Bank in Myanmar. This helps AYA Bank manage its increasing number of payment transactions, marking progress in its digital transformation journey.

Quicklly and Visa have joined forces to launch a cross-border remittance solution to India with real-time capabilities. This collaboration aims to address the pressing need for quick, efficient, and convenient cross-border transactions, particularly for individuals with family and friends in India.

YES Bank and EBANX, a global FinTech company, have announced a strategic partnership to process payments in India for the global digital economy. This collaboration aims to streamline cross-border payment processing and enhance global commerce opportunities for global merchants and Indian customers in India.

ALSO READ: Global Payments Vendors and Landscape Report Q1 2024

 

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