What The FinTech #164 - 15 Jan 2024
HONG KONG
HKTDC-Led Hong Kong delegation makes a resounding comeback at CES 2024
The Hong Kong Trade Development Council (HKTDC), in partnership with Hong Kong Science and Technology Parks (HKSTP) and the Hong Kong Electronic Industries Association (HKEIA) Ltd, is delighted to announce the strong comeback of the Hong Kong delegation at the Consumer Electronics Show (CES) 2024. Showcasing Hong Kong’s innovation and technological prowess, a remarkable assembly of 33 exhibitors will populate the Hong Kong Tech Pavilions at Design & Source and Eureka Park. The participation of numerous Hong Kong SMEs and start-ups, showcasing their latest products and solutions at this significant global exhibition, serves as a testament to their remarkable potential, solidifying Hong Kong’s position as a pivotal innovation powerhouse in Asia. To facilitate SMEs in exploring global market opportunities, HKTDC will lead 13 Hong Kong companies to showcase their innovative products and technologies at the Design & Source in Westgate. These exhibitors will present a diverse range of offerings, including health monitoring wearables, smart living products, high-tech home appliances, car audio electronics, transmitter batteries, smart speakers for hearing impaired, cutting-edge Wrt-based networking devices, electric scooters, etc.
Read Article : HKTDC-Led Hong Kong Delegation Makes a Resounding Comeback at CES 2024 (aithority.com)
Citybus accepts payment by both HK and mainland versions of WeChat Pay
Citybus will include WeChat Pay HK and WeChat Pay from mainland China as new payment options for bus fares. The payment option covers all of Citybus’s routes, including the Cityflyer to and from Hong Kong International Airport, cross-border routes, and urban bus lines. Passengers can use the QR codes on the WeChat app for payment, while mainlanders can pay in RMB through the code on their app. Children under 12 and eligible seniors aged 65 or above can enjoy discounted fares by simply pressing the touch screen button on Citybus’s e-Payment system before scanning their pay codes.
Read Article : Citybus accepts payment by both HK and mainland versions of WeChat Pay | The Standard
SINGAPORE
Singapore’s Qashier launches ‘groundbreaking’ QR payment terminal
Qashier, a Singapore-based fintech startup, has launched its QashierPay Soundbox, a pioneering QR payment terminal designed to advance the safety and reliability of digital transactions, in an effort to catalyse the digitisation of payments. The new device comes equipped with novel live auditory alert capabilities, safeguarding merchants with high transactions rates by offering immediate payment receipt notifications. The QashierPay Soundbox is geared up to be the simplest method for businesses to accept QR payments with a cost-efficient device, reshaping processes for high-flow transaction debutants, such as hawkers and mini-marts. The Soundbox allows nonprofits to avoid a drastic overhaul of their existing payment setups – a feature that could prompt smooth adoption. In addition, it accepts most e-wallet QR payments, including popular apps such as Google Pay, GrabPay, DBS Paylah, and Singtel Dash. The device also allows a quicker checkout process by offering a single Paynow QR code for customers.
Read Article : Singapore's Qashier launches 'groundbreaking' QR payment terminal (ecommercenews.co.nz)
SingPost enables real-time eCommerce logistics delivery across Asia Pacific with Boomi
Boomi, the intelligent connectivity and automation leader, announced that Singapore Post Limited (SingPost) has incorporated the Boomi platform to improve operational efficiency and speed customer onboarding to meet its digital transformation goals. To modernize its business in the face of a complex supply chain landscape and improve customer satisfaction, SingPost required a scalable and effective solution for data transformation and mapping, as well as integration and application programming interface (API) management. Ensuring data is available and actionable in real time was a crucial part of SingPost’s digital transformation goals. The company wanted to break down data silos, improve data governance, and shift away from duplicate and legacy systems to take advantage of market opportunities and fuel business growth. To accomplish this, SingPost needed a robust and reliable integration platform as a service (iPaaS).
Read Article : SingPost Enables Real-Time eCommerce Logistics Delivery Across Asia Pacific With Boomi (aithority.com)
CHINA
Huawei secures JD.com as HarmonyOS partner as home-grown software emerges as alternative for Apple iOS, Android in China
Chinese e-commerce giant JD.com will build an app for HarmonyOS Next, based on the intelligence innovations in the next iteration of Huawei’s mobile platform and its ability to support transitions between multiple scenarios. the partnership marks a new milestone for HarmonyOS in a post on social media platform Weibo. Joining with a growing number of Chinese internet companies, Huawei is pushing for wider adoption of its home-grown HarmonyOS, which is projected to surpass Apple’s iOS as the second-biggest operating system in China this year. While Google’s Android and Apple’s iOS will continue to dominate the global smartphone operating system sector, Huawei’s self-developed HarmonyOS will take some ground from both US giants in China, driven by the firm’s smartphone comeback with the Mate 60 series.
Baidu’s AI Ernie bot reached 100M users in China in under 6 months
Months after its launch, Baidu’s artificial intelligence (AI) chatbot Ernie Bot has amassed over 100 million users to secure a significant portion of the Chinese market. Ernie Bot’s commercial launch, described as a “partial unveiling” given its frantic release with limited functionalities, did little to dampen the enthusiasm of users. Baidu has improved Ernie Bot’s functionalities, introducing Ernie 4.0 as its “most powerful model to date.” A combination of a well-timed first-mover advantage, a tailor-made approach to the Chinese language, and key upgrades to the offering have contributed to Ernie Bot’s new milestone. With China’s population hovering around the 1.4 billion mark, Ernie Bot’s 100 million users represent 7% of the Chinese population, leaving room for exponential growth.
Read Article : https://coingeek.com/baidu-ai-ernie-bot-reached-100m-users-in-china-in-under-6-months/
ASIA
Accenture to expand network of generative AI studios across Asia Pacific and Latin America
Accenture is setting up generative AI studios in nine countries across Asia Pacific and Latin America to respond to growing client interest in the technology. Studios across Australia, Argentina, Brazil, Greater China, India*, Japan, Mexico, Philippines and Singapore* will connect clients with data and AI experts from Accenture, and ecosystem partners, ventures, and other strategic investments to enable rapid experimentation, co-creation and scaling of generative AI solutions using Accenture’s responsible AI framework as a foundation. The studios will cater to a wide range of industry and functional needs, but each will also specialize in one or more industries including banking, insurance, telecommunications, public sector, manufacturing, renewable energy, chemicals and mining. The studios will be operational in January 2024, except in Argentina and Mexico which will join the network later this year.
Read Article : Accenture to Expand Network of Generative AI Studios Across Asia Pacific and Latin America
ZilBank unveils cross border payments service for South Korean entrepreneurs to USA effortlessly
ZilBank, a B2B payment platform, has launched an initiative, enabling South Korean entrepreneurs and freelancers to conduct payments to the United States effortlessly. The platform has made it easier for South Korean businesses to pay US vendors, affiliates, employees, and other partners regardless of location. The cloud banking platform ensures efficient and affordable cross-border transactions, enabling South Korean entrepreneurs to conduct business easily and cost-effectively. This feature simplifies global transactions, removing the requirement for a physical presence and offering unmatched convenience to South Korean entrepreneurs in the USA. ZilBank simplifies creating multiple business accounts for different purposes. It enables affordable money transfers via ACH, mailed checks, and wire transfers. Instant fund transfers between ZilBank accounts ensure smooth financial transactions. The platform provides virtual cards, international payments, bulk payments, the “get paid early” option, and more.
Read Article : ZilBank unveils cross border payments service for South Korean entrepreneurs (ibsintelligence.com)
GHL Malaysia prepaid provider partners with Mastercard
GHL Malaysia’s largest prepaid credit top up and bill collection network. has announced its partnership with Mastercard in order to provide its ecommerce merchants with Mastercard Click to Pay for an improved online checkout experience. Customers and clients of GHL will be enabled to use Click to Pay in order to instantly access their preferred payment cards without the necessity to manually enter their transaction details at the moment of checkout. In addition, 2,000 of GHL’s ecommerce traders will be given the possibility to access the benefits of Click to Pay without incurring any additional setup fees, or any merchant discount rate (MDR), as this feature is also expected to automatically activate for them. TGV Cinemas represents one of Malaysia’s cinema operators, and it will be one of the first key merchants to enable the Click to Pay solution of Mastercard. The process will take place by providing a simple and secure payment experience for customers who wish to buy movie tickets through their website.
Read Article : GHL partners with Mastercard - ThePaypers
Vietnam banking digitalisation sees rapid growth: SBV
The average annual growth in the number of transactions via QR code has reached 471.13% since the payment method’s introduction in 2018, 77.41% of the Vietnamese adult population possess payment accounts with commercial banks reporting over 90% of all transactions conducted through digital channels, with some banks achieving a rate of up to 98%. In terms of transaction volume, while there were approximately 700 million transactions in the clearing and settlement system in 2019, a figure considered ambitious at that time, by 2023, the number of transactions had reached 7 billion, a ten-fold increase from 2019. Payments via the Internet, mobile and QR codes have seen a period of rapid growth. Currently, 85 organisations provide payment services through the Internet, and 52 organisations offer mobile payment services. Average annual growth in the number of transactions through Internet and Mobile payments is 46.48% and 90.12%, respectively. QR code, in particular, has seen an average annual growth in the number of transactions reached 471.13% since 2018.
Read Article : Banking digitalisation sees rapid growth: SBV | Business | Vietnam+ (VietnamPlus)
Grab’s Vietnam rival raises $40.3 mil for ride-hailing push
Vietnam’s Be Group raised 739.5 billion dong ($40.3 million) in fresh funding, accelerating its push to take on larger rival Grab Holdings Ltd. in markets from ride-hailing to deliveries. Be Group will use the funds to expand its ride, delivery and digital financial services, as well as to venture into new markets and segments of the consumer and transportation sectors. The company expects to deliver 1 billion rides on its platform by 2026, up from 120 million last year, and to surpass US$200 million ($266.2 million) in annual gross revenue in the same period. Since launching in 2018, Be Group has expanded its operations to 40 cities and provinces across Vietnam. The upstart aims to more than double its active users to 20 million by 2026, and targets positive earnings before interest, taxes, depreciation and amortization in the 2024 financial year.
Read Article : Grab’s Vietnam rival raises $40.3 mil for ride-hailing push (theedgesingapore.com)
Vietnam’s LPBank partners with NGS & Finastra for treasury solution
LPBank (Lien Viet Post Joint Stock Commercial Bank) has chosen Finastra and NGS Equipment and Communication Joint Stock Company (NGS) to modernize its treasury capabilities. Finastra’s front-to-back treasury solution will help make the bank more competitive with increased operational efficiency and improved governance. The project will bring LPBank closer to its goal of digitalizing all capital activities and help it meet business and risk management requirements from across the bank. LPBank’s deployment of Kondor is part of a series of key projects to help expand its services and get to the market faster, at a lower cost. These include transformation projects across core banking, data management, payments, and omnichannel banking.
Read Article : Vietnam's LPBank partners with Finastra & NGS for treasury solution (ibsintelligence.com)
Over 77% of Vietnamese adults have payment accounts
Up to 77.41% of the adults in Vietnam have payment accounts at present, an increase from 31% during the 2015 – 2017 period. Many banks have reported over 90% of transactions conducted digitally, in some cases even 98%. The clearing house system saw about 700 million transactions in 2019, a figure many dreamed about at that time, but they shot up 10-fold to hit 7 billion in 2023. Highlighting the rapid growth of internet, mobile, and QR code payments, he said 85 payment service suppliers are providing internet payment services and 52 providing mobile ones. The numbers of internet and mobile payment transactions have increased 46.48% and 90.12% annually on average. In particular, QR code payments have surged by an annual average of 471.13% since 2018.
Read Article : Over 77% of Vietnamese adults have payment accounts | Business | Vietnam+ (VietnamPlus)
Vietnam’s e-government architecture framework updated
The Ministry of Information and Communications (MIC) recently gave an update on the e-Government Architecture Framework (version 3.0), an important document to be applied in ministries, governmental agencies, and centrally-run cities and provinces. Version 3.0 supplemented its previous version with an electronic identification and authentication platform and system, a national database centre, a human resources data warehouse, among other items. Besides, updates were made on reference models, database and applications. During the process of building and implementing the e-Government Architecture Framework, competent quarters should comply with basic principles of the framework, and relevant guidance documents. Their architecture framework must ensure investment for effective implementation of digital government, new digital technologies and cyber security measures, supply of database for online public services and innovation services, and smooth database sharing among agencies.
Read Article : Vietnam’s e-government architecture framework updated | Sci-Tech | Vietnam+ (VietnamPlus)
Microsoft launches AI Odyssey to skill 100,000 developers in India in latest AI technologies and tools
Microsoft announced the launch of an initiative that aims to skill 100,000 developers in India in the latest AI technologies and tools. The program offers comprehensive learning experience that helps developers acquire and demonstrate the relevant skills needed to execute critical projects using AI technologies that align with business goals and outcomes. With AI revolutionizing the way we work and live, India needs a skilled workforce that can use AI to solve complex problems and create value. Through programs like AI Odyssey, Microsoft is offering opportunities for developers to build solutions for India’s growth and showcase their talent to solve real-world problems. To participate in the AI Odyssey, developers need to register on aka.ms/AIOdyssey and access the learning modules and resources. The month-long program is open to all AI enthusiasts in India, regardless of experience level or background. The program has two levels that participants need to complete by January 31, 2024. The first level of the program educates participants on how to use Azure AI services to create and deploy AI solutions for different scenarios. This will give them access to useful resources, code samples, and guides to master practical AI skills. The second level of the program challenges participants to prove their AI skills by completing an online assessment with interactive lab tasks that earns them Microsoft Applied Skills credentials, a new verifiable credential that validates their ability to solve real world problems with AI. Participants completing both the levels of challenges will also stand a chance to win a VIP Pass to attend the Microsoft AI Tour in Bangalore on February 8, 2024, and witness the revolutionary impact of generative AI. The AI Tour is a one-of-a-kind event that showcases how generative AI can enable new forms of creativity, collaboration, and problem-solving. The tour features keynote sessions, demos, and workshops, where developers can learn from Microsoft experts and partners, as well as network with peers.
Read Article : Microsoft launches AI Odyssey to skill 100,000 developers in India in latest AI technologies and tools - Microsoft Stories India
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Your Fintech Navigator,