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The Sun
6 days ago
- Business
- The Sun
Banks, fintech players step up cross-border expansion and collaboration in Asean
KUALA LUMPUR: Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across Asean, adopting tailored strategies to strengthen their presence in the region's digital financial services landscape. Reflecting this regional shift, CIMB Bank Bhd and CIMB Malaysia CEO Gurdip Singh Sidhu said the bank is scaling its Asean presence through both physical expansion and cross-border digital offerings, a strategy that has enabled it to serve over 50 million users across Southeast Asia. 'We may historically be viewed as a legacy financial institution, but we are accelerating our digital transformation. At the same time, we are also the largest investor in Touch 'n Go Digital, which operates the largest e-wallet in Malaysia, and functions as a non-bank digital super app, facilitating smoother transactions. 'With Touch 'n Go eWallet now supported on the Alipay+ platform, cross-border payments are seamless for both foreign visitors and Malaysians abroad, while also enabling local small and medium enterprises to accept payments from international customers,' he said during a media panel session titled 'Going Beyond Borders: How Fintechs and Financial Institutions are Redefining Regional Scale' on Tuesday. On regional expansion, Gurdip highlighted CIMB's success in the Philippines, where the bank established a digital-first presence from the ground up in just six years. 'We partnered with the leading local e-wallet and initially offered banking products via their front end before launching our own app. Today, we serve nearly 10 million customers. All through digital,' he said. In support of broader regional integration, global digital payment and fintech provider Ant International is also strengthening cross-border infrastructure through its Alipay+ platform. Ant International general manager of global business services and support, Jake Xue, said the company is expanding its cross-border payment infrastructure and digital financial services to connect 1.7 billion users with over 100 million merchants worldwide. 'Malaysia is strategic to our global vision, not only as a gateway to Asean, but also as a source of diverse and digitally savvy talent,' he said, adding that the company plans to grow its Malaysian team to 1,000 employees by the year-end, up from 800 currently. On supporting startups with regional ambitions, Xue said Ant International forms strategic partnerships with both local and regional players. 'With startups, we co-develop solutions and provide global exposure through initiatives such as our 10x1000 Tech for Inclusion programme,' he said. Meanwhile Visa head of Products and Solutions for Regional Southeast Asia, Kim Hak, said cross-border payments remain complex and require careful planning and coordination, making interoperability and shared standards essential. 'It comes down to trust in the system. If a fintech enters the space without a proven track record, having consistent, recognised standards or interoperable frameworks helps build confidence – both for us as partners and for their ability to scale,' he said. Fintech Association of Malaysia president Anil Singh Gill said Bank Negara Malaysia (BNM) is now globally recognised as one of the most solid and competent regulators in terms of financial governance for both institutions and fintechs. 'BNM has clear guidelines like Risk Management in Technology, which help immensely. But what we may need next is open finance, this could introduce competition and transparency that further reinforces trust,' he said. Nexea CEO Ben Lim opined that corporate partnership can serve as a strong vote of confidence for startups, signalling they have passed due diligence and are ready to scale. 'For example, one of our other startups, Lapasa, grew 16 times – 1,600% in a single year – simply because it secured one large corporate client. Such clients can provide the leap needed for startups to go regional or even global,' he said. The media panel session was held on the sidelines of MyFintech Week 2025, which runs from Aug 4 to 7 and gathers nearly 1,000 industry leaders, regulators and innovators to explore the future of finance and technology. With the theme 'Ideate, Innovate, Co-create: Shaping the Future of Finance', the third edition of MyFW 2025 reinforces its role as Malaysia's flagship fintech event. The event is co-organised by BNM, the Securities Commission Malaysia, the Asian Institute of Chartered Bankers, the Fintech Association of Malaysia and the Malaysia Digital Economy Corporation. This year's programme features keynote addresses, panel discussions, masterclasses, workshops, and live demonstrations, spotlighting trends and solutions driving innovation and financial inclusion. – Bernama
Business Wire
22-07-2025
- Business
- Business Wire
Ant International Recognized in CNBC World's Top Fintech Companies 2025 List
SINGAPORE--(BUSINESS WIRE)--Ant International, a leading global provider of digital payments, digitization, and financial technology, has been recognised in the CNBC World's Top Fintech Companies 2025 list under the Payments category. CNBC's World's Top FinTech Companies list evaluated metrics from over 30,000 eligible companies worldwide, recognising those that prioritise innovative, technology-driven financial solutions. This recognition underscores Ant International's achievements and commitment to pioneering payment technologies while fostering collaborative ecosystems with partners to benefit the widest possible audience. Ant International became independent in 2024 after a reorganisation of Ant Group. With headquarters in Singapore and over 30 offices around the world, Ant International provides cross-border digital payment, commerce and finance solutions to merchants and financial institutions, connecting 100 million+ merchants to global consumers across its 4 business units: Alipay+, Antom, Embedded Finance and WorldFirst. Global e-wallet gateway service Alipay+ links 1.7 billion mobile payment users across more than 70 markets. Merchant payment service Antom supports merchants to integrate over 300 payment methods, enabling them to connect with consumers in more than 200 markets. WorldFirst, the global business account service, has served 1.2 million small and medium-sized businesses, while Embedded Finance services have enabled financial institutions and fintech companies to extend credit access to over 15 million customers.
The Sun
10-07-2025
- Business
- The Sun
PayNet, Alipay+, and Weixin Pay Join Forces to Boost Tourist Spending across Malaysia
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 9 July 2025 - National payments network, Payments Network Malaysia Sdn Bhd (PayNet), has teamed up with top Asian payment platforms, Alipay+, and Weixin Pay (commonly known in Malaysia as 'WeChat Pay'), to drive Chinese and regional tourist spending across Malaysia. As the summer travel season begins, both Alipay+ and Weixin Pay are rolling out targeted campaigns to promote Malaysia as a top destination. The campaigns will boost cross-border spending via PayNet's DuitNow QR ecosystem and make travel in Malaysia more seamless and rewarding for visitors. Connecting Tourists with Malaysian Businesses Tourists using AlipayCN, Alipay+ partner payment apps, and Weixin Pay can pay with ease in Malaysia by scanning DuitNow QR – no extra apps needed. It's the same e-wallet they use at home, accepted at more than 2.5 million merchants in Malaysia. From restaurants and hotels to souvenir kiosks and tour operators, this enhanced interoperability makes travel hassle-free. It also increases visibility for merchants, helping micro, small and medium enterprises (MSMEs) tap into tourist spending. Alipay+ currently enables 15 international payment apps in Malaysia, including Alipay for Chinese tourists. During the December 2024 travel peak, Alipay+, via DuitNow QR, drove a six-fold revenue increase for Malaysian merchants' year-on-year. 'This is what smart tourism looks like, seamless for travellers, transformative for our MSMEs. By enabling tourists to use their home wallets via DuitNow QR, we are opening up more than 2.5 million Malaysian businesses, many of them small and family-run, to global spending power. It's a digital solution with real-world economic impact,' said PayNet Chief Marketing Officer, Gary Yeoh. Empowering MSMEs, Strengthening the Economy This multi-partner initiative aims to increase sales by 20% for participating merchants during the summer campaign period. In the long run, the campaign underpins Malaysia's goal of becoming a cashless tourism leader, while helping more businesses tap into digital payments. Tourism Malaysia Director General, Datuk Manoharan Periasamy, highlighted that the summer campaigns play a vital role in reaching the target of six million Chinese tourist arrivals this year. 'We believe that making travel simple, welcoming, and convenient is the key to attracting more visitors,' he said. 'With DuitNow QR accepted via Alipay+ and Weixin Pay, tourists can enjoy a smoother, more enjoyable travel experience. This initiative not only adds comfort and familiarity for our guests but also creates meaningful opportunities for local businesses and boosts the overall tourism economy'. China Summer Campaign Highlights PayNet, Alipay+, and Weixin Pay are launching three targeted campaigns that reward spending, celebrate local experiences, and deepen tourism-driven economic impact: As tourist arrivals to Malaysia continue to grow, the partnership between PayNet, Alipay+, and Weixin Pay showcases the power of digital payments to fuel economic growth. In line with this momentum, the target for 2025 is to increase DuitNow QR transactions through Alipay+ and Weixin Pay by more than 130% year-on-year. By empowering local businesses and simplifying how tourists pay via trusted mobile payment methods, this summer campaign marks a meaningful step forward in strengthening Malaysia's tourism economy and boosting regional economic integration. ¹Tourists using Alipay+ from the countries listed below are eligible to participate in the contests: Alipay (China), AlipayHK (Hong Kong SAR, China), MPay (Macao SAR, China), TrueMoney, Kbank (Thailand), Changi Pay (Singapore), Hipay (Mongolia), HelloMoney, GCash (Philippines), Tinaba (Italy), Kaspi (Kazakhstan), BigPay (Singapore, Thailand), Kakao Pay, Naver Pay, and Toss (South Korea).
Business Wire
03-07-2025
- Business
- Business Wire
Shift4 Completes Acquisition of Global Blue
CENTER VALLEY, Pa. & SIGNY, Switzerland--(BUSINESS WIRE)--Shift4 Payments, Inc. ('Shift4') (NYSE: FOUR), the leader in integrated payments and commerce technology, and Global Blue Group Holding AG ('Global Blue') (NYSE: GB), the leading specialty payments and technology platform enabling tax-free shopping, dynamic currency conversion, and payments solutions to the world's largest retail brands, today announced the successful completion of the tender offer by GT Holding 1 GmbH, an indirect wholly owned subsidiary of Shift4, to purchase the outstanding shares of Global Blue (the 'Shares') for $7.50 per common share in cash (the 'Tender Offer'). 'This marks the largest acquisition in Shift4's history and reinforces our track record of bold moves that expand our capabilities and deliver the most comprehensive commerce offering in the industry,' said Shift4 CEO Taylor Lauber. 'By integrating Global Blue into our end-to-end platform, we're further expanding our global reach and solidifying our position as a leading unified commerce provider that adds meaningful value to our merchants around the world.' With over 40 years of history, Global Blue is a market leader at the intersection of travel and luxury retail across Europe, Asia, and South America. Hundreds of thousands of premium retail and hospitality locations rely on Global Blue's tax-refund and currency conversion technology, including the world's most iconic luxury and premium retailers as well as other large retail electronics, sportswear and fast fashion brands. Global Blue is the market share leader in the tax-free shopping category, a service that is essential for retailers and other merchants catering to international travelers. Global Blue's merchant solutions will be added to Shift4's global payments platform to deliver an enhanced end-to-end experience for its merchants. The addition of tax refund and currency conversion capabilities enhances Shift4's position as an innovative vendor and trusted partner. Global Blue is the most comprehensive two-sided network in its category, connecting millions of affluent international shoppers to its merchants and directly engaging with international shoppers through its proprietary app, creating powerful network effects and allowing for further product innovation, such as loyalty, digital marketing, and more. Now that the acquisition has closed, Shift4 and Global Blue will soon plan to launch an all-in-one payment terminal to provide VAT refund, DCC, and payment processing services to global merchants. The combined company will be the only provider in the market delivering a complete solution for merchants that combines these three services in a single device. As a result of the transaction, Ant International and Tencent will become strategic partners with Shift4. The partnership will explore collaboration on global e-commerce payment products, including the distribution of global e-wallet gateway service Alipay+, which connects global merchants with 1.7 billion user accounts of 36 digital payment methods across the world, and WeChat Pay, the most widely used mobile payment service in China, throughout the Shift4 ecosystem. The Tender Offer expired as scheduled at one minute after 11:59 p.m. (New York City time) on July 2, 2025. Equiniti Trust Company, LLC, the depositary and paying agent for the Tender Offer, has advised Shift4 and Global Blue that as of the expiration of the Tender Offer, 233,862,778 Shares had been validly tendered and not properly withdrawn pursuant to the Tender Offer, representing in the aggregate approximately 97.37% of the issued and outstanding Shares. All of the conditions to the consummation of the Tender Offer have been satisfied, and Shift4 has accepted for payment and will promptly pay for all Shares that have been validly tendered and not properly withdrawn in accordance with the terms of the Tender Offer Statement on Schedule TO filed with the U.S. Securities and Exchange Commission (the 'SEC') on March 21, 2025, as amended. Effective immediately following the completion of the Tender Offer, the current directors of Global Blue were replaced with those Shift4 appointed directors as approved by the Global Blue shareholders at the extraordinary general meeting of shareholders held on May 6, 2025. As previously announced, Shift4 intends to cause Global Blue to delist its shares from NYSE and effect a squeeze-out merger under Swiss law to acquire all remaining 2.63% of outstanding Shares. About Shift4 Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit About Global Blue Global Blue (NYSE: GB) is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance. With over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 52 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions. For more information, visit Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Each of Shift4 and Global Blue intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding Shift4's or Global Blue's, as applicable, respective expectations associated with the acquisition of Global Blue by Shift4, including the completion of the squeeze-out merger, the benefits, synergies, efficiencies, and opportunities arising from the acquisition, and the timing of any of the foregoing. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause each of our actual results, performance or achievements, respectively, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to the substantial and increasingly intense competition worldwide in the financial services, payments and payment technology industries; each of our ability to continue to expand our respective share of the existing payment processing markets or expand into new markets; additional risks associated with each of our expansion into international operations, including compliance with and changes in foreign governmental policies, as well as exposure to foreign exchange rates; and each of our respective ability to integrate and interoperate each of our services and products with a variety of operating systems, software, devices, and web browsers, and the other important factors discussed under the caption 'Risk Factors' in Part I, Item 1A in Shift4's Annual Report on Form 10-K for the years ended December 31, 2023 and December 31, 2024, under the caption 'Key Items – Risk Factors' in Item 3(D) in Global Blue's Annual Report on Form 20-F for the years ended March 31, 2025 and March 31, 2024 and each of our other filings with the SEC, respectively. Any such forward-looking statements represent management's expectations as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, each of Shift4 and Global Blue, disclaim any obligation to do so, even if subsequent events cause each of our views to change, respectively.
Techday NZ
03-07-2025
- Business
- Techday NZ
Ant launches Alipay+ Voyager, an AI travel tool in e-wallets
Ant International has launched Alipay+ Voyager, an artificial intelligence-driven travel companion built into digital wallets, with initial support from travel platforms including Agoda, Fliggy and The service incorporates AI capabilities developed by Ant International and aims to streamline itinerary planning, booking travel, and making in-destination purchases through a single AI-powered interface available in users' local languages. Alipay+ Voyager is being made available first within three of Asia's largest e-wallets: Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), and GCash (the Philippines), with plans to introduce the solution to more wallets throughout 2025. The platform is designed to assist travellers globally, including those from Australia, with the objective of simplifying the entire travel process using familiar digital payment and super app solutions. Service details The system enables users to plan and book trips, manage activity bookings, and make payments for local services directly from their digital wallet. Integration with over 100 million merchants in the Alipay+ ecosystem promises broad acceptance and support for purchases abroad. Australian travellers are among those who can expect a more seamless travel experience, with itinerary planning, research, and booking—covering flights, accommodation, and activities—consolidated into one interface. The AI assistant can also help users navigate local purchases and payments using text or voice commands in their language. Market context Global trends in travel show an ongoing increase in the use of mobile devices, with mobile already accounting for two-thirds of online travel traffic. Research indicates the online travel market is anticipated to grow by 10% annually through 2032. Younger travellers, including those in the Gen Z demographic, are seeking personalisation and hyperlocal experiences, often accessed through all-in-one mobile platforms. The expansion of Alipay+ beyond cross-border payments to offer agentic AI capabilities reflects broader industry shifts towards digital solutions that encompass travel planning, booking, and spending. Alipay+ Voyager aims to support both consumers and merchants by simplifying these processes within digital wallets. Key features Among the central features highlighted at launch are intelligent end-to-end travel assistance, real-time connections to localised services such as public transport and dining, and proactive service curation. The AI platform is designed to anticipate users' preferences, provide relevant options in real time, and assist with issues such as flight delays or changes in conditions. For merchants and online travel agents (OTAs), the deployment across multiple major wallets can open access to large and diverse consumer markets through a single integration. The company states that its approach allows tailored engagement with travellers across every stage of their journey, while also supporting small and medium-sized businesses with digital tools for efficiency and growth. Partner perspectives Douglas Feagin, President of Ant International, said: Travellers today are using more tech to enhance their trips, and there is a need for the industry to adapt and meet these new and emerging expectations. By integrating a proactive, always-on AI travel companion within digital wallets that consumers already use frequently, we're empowering travel and wallet partners with new opportunities to engage travellers in a more relevant, personalised way, through every step of their journey. Gil Hazan, Senior Vice President of Strategic Partnerships at Agoda, commented: At Agoda, we are committed to making travel more accessible and seamless for everyone. By integrating our extensive supply network as one of Asia's leading online travel platforms with Alipay+ Voyager's expansive wallet partnerships, we can offer travellers a more convenient and personalized booking experience. This collaboration enables us to reach a broader audience and provide tailored travel solutions that cater to the diverse needs of today's travellers. Forward plans Ant International's Alipay+ Wallet Tech team has been collaborating with partners since 2015 to develop digital payment and security solutions. The company indicated intentions to build further agentic AI suites to serve different industries via its Alipay+ GenAI Cockpit platform. The ongoing expansion of Alipay+ Voyager to additional partners is expected throughout 2025, increasing its relevance for outbound travellers worldwide.
