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Business Times
20 hours ago
- Business
- Business Times
Cross-border payments
THE global financial landscape is shifting, and banks are feeling the pressure to recalibrate. With evolving international policies and changing market dynamics brought on by tariff uncertainties, the need for greater agility and efficiency has never been greater. At this critical juncture, transforming cross-border payments has become crucial. Banks have traditionally relied on correspondent banking to facilitate international transactions, but this method often falls short, especially when measured against the expectations of today's customers (retail and businesses alike). Much like e-commerce platforms such as Shopee and Amazon, which enable businesses to expand seamlessly into new markets without setting up local stores, banks use correspondent relationships to facilitate cross-border payments without needing a physical presence in every country. But this once-efficient system now needs to evolve to meet the expectations of today's fast-paced, customer-centric economy. Why it's time to fix international payments plumbing The gap between customer expectations and realities of modern banking has widened. People have always expected payments to be fast, transparent, and cost-effective. And, with every new generation and wave of tech advancements, these expectations only grow – faster, more transparent, and cheaper than ever before. At the same time, demand for international payments is surging, especially for low-value cross-border transactions. This has contributed to S$3.9 trillion in global outflows in Asia, underscoring the need for a more efficient and affordable payment system. Yet, many of these transfers still take too long. On top of that, hidden fees and foreign exchange markups are often concealed from the consumer, leaving them unaware that they're paying more than they should. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In fact, 56 per cent of Singaporeans who have made international payments think they know the full cost, but are unaware of the hidden fees. As a result, Singaporeans lost some S$590 million to these fees in 2023 alone. These inefficiencies are recognised at a global level, with initiatives like the G20 roadmap for enhancing cross-border payments aiming to address these issues by setting quantitative targets to improve the speed, cost and transparency in international payments. But banks and the traditional transfer system aren't deliberately creating this disconnect between what customers want and what they get – the international banking model is simply built on legacy methods. The model's reliance on 'middlemen' or intermediaries slows transactions and increases costs. For instance, if a bank in Singapore doesn't have a direct correspondent relationship with a Brazilian counterpart, it will need to route the payment through intermediaries, perhaps through Japan, the UK, then the US, before finally reaching Brazil. This journey adds extra fees and makes lower-value transfers too costly for consumers and small businesses. Settlement times also drag, as payments navigate complex networks and regulatory checkpoints, sometimes taking days to clear. As the number of handover points increase, so do the chances of a payment getting stuck or having limited visibility for compliance. One way to fix this is through connecting local payment systems across borders. By enabling direct settlement between these rails, it removes the need for middlemen. For example, linking Singapore's PayNow with Thailand's PromptPay allows real-time transfers between the two countries, making payments faster and cheaper. But scaling these connections globally is complex. It takes time, significant investment, and coordination between regulators. Making smarter cross-border payments Fixing cross-border inefficiencies requires a broader approach that complements correspondent banking relationships. Banks need technology-driven solutions that modernise transfers, making them as fast, intuitive, secure, and transparent as today's consumers expect. But this isn't an easy task – cross-border payments are one of the toughest financial services to get right. Scaling a payments network globally is complicated, expensive, and time-consuming – something no bank can easily tackle alone. And, realistically, given that cross-border payments typically make up only a fraction of a bank's overall services, building a global payments infrastructure from scratch would mean massive investments that many banks neither want nor need. After all, most banks are, first and foremost, built for their local markets. Their focus is on core services like loans, credit, and domestic payments. These systems, designed primarily for domestic transactions, still serve their purpose well, remaining efficient and cost-effective. When it comes to international payments, however, efficiency and cost control are often blind spots. Many banks assume the delays and high costs are simply part of the system— or that solving these challenges means taking it on alone. But the landscape is changing. Technology advancements now enable new approaches that improve cross-border payments without requiring banks to overhaul their entire infrastructure. For example, some systems tap into local payment rails across markets worldwide, linking these networks to create more efficient paths for global transactions. This makes the process faster and more cost-effective. Some of these solutions can also complement a bank's existing correspondent relationships, including the Swift network, helping to reduce friction while enhancing capabilities. The tricky part is choosing the right solution. Banks must assess providers based on how transparent they are with fees and services, the reach and quality of their currency network, and whether they give banks visibility over the payment process. Reliability and efficiency throughout the whole process are key. Importantly, with Singapore being such a thriving fintech hub, local banks must also team up with tech firms to develop solutions that not only streamline operations but also stay in line with evolving regulations. The road ahead: Simplicity, transparency, and efficiency The transformation of correspondent banking is well underway, driven by the need for simplicity, transparency, and efficiency. The challenges faced by banks attempting to modernise cross-border payments highlight the necessity of ecosystem partnerships. Singapore's financial institutions are well-positioned to lead this shift. By prioritising infrastructure modernisation and partnerships to leverage emerging payments innovation, they can set new benchmarks for cross-border transactions. The path forward is clear: banks that embrace innovation and collaboration will not only compete, but lead in the evolving landscape of global finance. The writer is general manager, Wise Platform, Asia Pacific
The Sun
2 days ago
- Lifestyle
- The Sun
Shopee 6.6 Lagi Murah Sale: Up to 66% Off on Daily Essentials
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 30 May 2025 - This 6.6, Shopee is taking Lagi Murah to the next level! From 1 to 9 June, enjoy unbeatable discounts on essentials with up to 66% off Lagi Murah Daily, Free Shipping No Min. Spend, and Stack & Save Up To 40% Off. Whether it's groceries, household must-haves, or self-care staples - it's all Confirm Lagi Murah! To help buyers confirm Lagi Murah deals this 6.6, Shopee is teaming up with Mak Kiah Ferry as the official Murah Police! Catch her special appearances on Shopee's official social media channels and during the Shopee Live specials on 5 and 6 June, where she will give her seal of approval on the top Lagi Murah picks. But that's not all - the excitement continues with the Alieff Irfan 6.6 'Shopee Lagi Murah' Showdown, premiering on 5 June at 8PM on Shopee Live and Alieff Irfan's official YouTube channel. Mark your calendars for fun challenges, exclusive vouchers, and plenty of laughs as they bring the Lagi Murah hype for 6.6. 66% Off Lagi Murah Daily Stock up on brands you love like Vinda, Huggies, Colgate, Unilever, Skintific, and Oatside, and many more. Shop with confidence as every deal is verified by our Murah Police to be Lagi Murah. On 6 June only, don't miss upsized deals up to 90% off with the RM6 Knockout Deals from top brands like Gintell, Samsung, and Dyson so be sure to set your reminders! Free Shipping No Min. Spend Skip the mall and shop in your pajamas! With Shopee's daily Free Shipping Vouchers, enjoy fast, fuss-free delivery right to your doorstep - no minimum spend needed. Stack & Save Up to 40% Off At Shopee, we take Lagi Murah very seriously; it's time to stack your savings like a pro this 6.6! On top of the Lagi Murah Daily deals, combine the daily Free Shipping Vouchers with Shopee Vouchers, Shop Vouchers, and Shopee Coins at checkout to unlock additional discounts up to 40% off. Campaign Exclusive: Alieff Irfan 6.6 'Shopee Lagi Murah' Showdown Premiering on 5 June at 8PM, the Alieff Irfan 6.6 'Shopee Lagi Murah' Showdown promises an evening of unbeatable deals and non-stop entertainment, available on Shopee Live and Alieff Irfan's official YouTube channel. Hosted by Alieff and joined by his AI Team, the showdown will feature exciting games, hilarious challenges, and exclusive Lagi Murah deals. Viewers can also look forward to special vouchers, Shopee Coins giveaway, and plenty of laughs - all delivered with the AI Team's signature humour and charm. This 6.6, don't just settle for murah — go for Lagi Murah! With epic deals and your favourite internet stars leading the way, it's time to add to cart and save big:
Malay Mail
2 days ago
- Business
- Malay Mail
Shopee 6.6 Lagi Murah Sale: Up to 66% Off on Daily Essentials
Shopee 6.6 Lagi Murah Sale: Up to 66% Off on Daily Essentials KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 30 May 2025 - This 6.6, Shopee is takingto the next level! From 1 to 9 June, enjoy unbeatable discounts on essentials with up to. Whether it's groceries, household must-haves, or self-care staples - it's allTo help buyers confirmdeals this 6.6, Shopee is teaming up with Mak Kiah Ferry as the officialPolice! Catch her special appearances on Shopee's official social media channels and during the Shopee Live specials on 5 and 6 June, where she will give her seal of approval on the that's not all - the excitement continues with the, premiering on 5 June at 8PM on Shopee Live and Alieff Irfan's official YouTube channel. Mark your calendars for fun challenges, exclusive vouchers, and plenty of laughs as they bring thehype for up on brands you love like Vinda, Huggies, Colgate, Unilever, Skintific, and Oatside, and many more. Shop with confidence as every deal is verified by ourPolice to be. On 6 June only, don't miss upsized deals up to 90% off with the RM6 Knockout Deals from top brands like Gintell, Samsung, and Dyson so be sure to set your reminders!Skip the mall and shop in your pajamas! With Shopee's daily Free Shipping Vouchers, enjoy fast, fuss-free delivery right to your doorstep - no minimum spend Shopee, we takevery seriously; it's time to stack your savings like a pro this 6.6! On top of theDaily deals, combine the daily Free Shipping Vouchers with Shopee Vouchers, Shop Vouchers, and Shopee Coins at checkout to unlock additional discounts up to 40% on 5 June at 8PM, thepromises an evening of unbeatable deals and non-stop entertainment, available on Shopee Live and Alieff Irfan's official YouTube channel. Hosted by Alieff and joined by his AI Team, the showdown will feature exciting games, hilarious challenges, and exclusivedeals. Viewers can also look forward to special vouchers, Shopee Coins giveaway, and plenty of laughs - all delivered with the AI Team's signature humour and 6.6, don't just settle for— go for! With epic deals and your favourite internet stars leading the way, it's time to add to cart and save big: Hashtag: #Shopee The issuer is solely responsible for the content of this announcement. Shopee Shopee is the leading e-commerce platform in Southeast Asia & Taiwan. Shopee promotes an inclusive and sustainable digital ecosystem by enabling businesses to digitalise and grow their online presence, helping more people access and benefit from digital services, and uplifting local communities. Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. Shopee is also a key contributor to the region's digital economy with a firm commitment to helping homegrown brands and entrepreneurs succeed in e-commerce. Shopee is part of Sea Limited (NYSE: SE), a leading global consumer internet company. Sea's mission is to better the lives of consumers and small businesses with technology through its three core businesses: Shopee, Garena and SeaMoney.
Yahoo
3 days ago
- Business
- Yahoo
Sands Capital Technology Innovators Fund is Maintaining Confidence in Sea Limited (SE)
Sands Capital, an investment management company, released its 'Sands Capital Technology Innovators Fund' Q1 2025 investor letter. A copy of the letter can be downloaded here. Technology Innovators focus on pioneering businesses worldwide that serve as key drivers or beneficiaries of significant long-term changes driven by technology. The fund returned -10.4% (net) in the first quarter compared to a 9.4% return for the benchmark, MSCI ACWI Info Tech and Communication Services Index. The choice of securities in the software sector was the primary factor negatively impacting relative performance. You can check the fund's top 5 holdings to know more about its best picks for 2025. In its first-quarter 2025 investor letter, Sands Capital Technology Innovators Fund highlighted stocks such as Sea Limited (NYSE:SE). Sea Limited (NYSE:SE) engages in the digital entertainment, e-commerce, and digital financial service businesses. The one-month return of Sea Limited (NYSE:SE) was 23.27%, and its shares gained 142.75% of their value over the last 52 weeks. On May 27, 2025, Sea Limited (NYSE:SE) stock closed at $165.24 per share with a market capitalization of $97.83 billion. Sands Capital Technology Innovators Fund stated the following regarding Sea Limited (NYSE:SE) in its Q1 2025 investor letter: "Sea Limited (NYSE:SE) is an internet business in Southeast Asia that operates leading platforms for video games, ecommerce, and digital financial services. The business reported its fifth consecutive beat-and-raise quarter, with Shopee (ecommerce) growing gross merchandise volume 24 percent year-over-year while delivering positive EBITDA margin. 2025 guidance points to inflections across all three business units—ecommerce, digital financial services, and gaming—each expected to generate approximately $1 billion in EBITDA. We raised our long-term estimates, including Shopee margin and valuation assumptions, and now expect combined EBITDA to triple by 2029. Improved investor communication has, in our view, helped dampen volatility around earnings announcements while attracting long-term institutional investors. Looking ahead, we believe the company is more in control of its destiny and entering a phase of meaningful earnings acceleration, and we have higher confidence in our long-term earnings estimates." A person livestreaming their gameplay on a mobile device with integrated payment options. Sea Limited (NYSE:SE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 84 hedge fund portfolios held Sea Limited (NYSE:SE) at the end of the first quarter compared to 86 in the previous quarter. Sea Limited's (NYSE:SE) total revenue increased 30% year-on-year to $4.8 billion in the first quarter of 2025. While we acknowledge the potential of Sea Limited (NYSE:SE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Sea Limited (NYSE:SE) and shared the list of best performing large cap stocks so far in 2025. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Tap, buy, drive: Malaysians are getting new tyres the e-way
KUALA LUMPUR, May 28 — A couple pulled into a moderately busy tyre workshop in Seksyen 15, Shah Alam just after 11am, greeted by the low whir of air compressors and the rhythmic clanking of wrenches on alloy rims. There were no queues, no awkward negotiations, and no uncertainty about the bill. The new Kumho-brand tyre for their latest-generation Perodua Myvi had been purchased online days earlier — with discount vouchers and a pre-booked installation slot. This, increasingly, is how Malaysians are buying tyres: the same way they shop for power banks or pet food — online, often via platforms like Shopee. 'The cheaper price is the main thing for me,' said 31-year-old Imran Anuar, who had left Puchong with his wife that morning. 'Walk-ins are usually a bit more expensive. Online, you get vouchers. I got an RM30 discount voucher myself. 'Once you make the purchase, the workshop gets in touch to fix a slot. So when you arrive, everything's already confirmed. You just hand over the keys, no need to wait around wondering when it'll be your turn,' he added. Imran Anuar speaks to Malay Mail about buying tyres online at a walk-in workshop in Shah Alam. — Picture by Sayuti Zainudin Buy Now, Pay Later options have also made it easier for customers to commit to tyre purchases online, especially during leaner months. Though he had bought tyres online before, this was Imran's first visit to this particular shop: Performance Tyre Malaysia. Installation and balancing were included; wheel alignment cost extra — a small add-on, which he accepted without fuss. 'From the moment you make the payment, everything runs smoothly,' he said, as more cars began pulling into the workshop bay. Another customer, who preferred to remain anonymous, said he had travelled from Cyberjaya to the same workshop, attracted by the better price listed on Shopee. 'Tyre prices at workshops in my area can go up to RM100 more. So I bought it online and came to Shah Alam instead, just to get the tyre changed,' he said. Behind the scenes, Lucas Liow Poh Hooi, in a white polo shirt and clutching a folder, moved briskly between workstations, responding to customer queries while keeping an eye on operations. He is the second-generation owner of Performance Tyre Malaysia, which he now runs with his brother. They inherited the business from their late father, who first opened it more than two decades ago. 'I started selling online to get more exposure and attract new customers,' Liow told Malay Mail. 'But tyres are ageing products, so we're very careful not to overstock. If the inventory sits too long, customers might worry they're getting old tyres. I only keep what's needed and restock once we're running low,' he added. In the past, customers would travel based on word of mouth. Klang and Shah Alam were known shorthand for good deals. Today, the same search happens in silence — through browser tabs, e-commerce platforms and WhatsApp. 'Everything's more transparent now. Anyone can compare prices online,' Liow said. Lucas Liow Poh Hooi speaks to Malay Mail during an interview at Performance Tyre Malaysia in Shah Alam. — Picture by Sayuti Zainudin About a decade ago, customers often showed up with handwritten price comparisons from other shops. That, too, has changed. 'You hardly see that anymore. Now they just message us on WhatsApp or Shopee, and pay online,' Liow said. Online sales have made customer flow more predictable, he added, helping the business absorb slower months like this year, when Hari Raya and Chinese New Year landed unusually close together. Liow officially joined full-time 10 years ago after his studies, but he had been helping since childhood, inflating tyres with his father. 'Last time, they'd spend 20 or 30 minutes asking questions, comparing prices. Now, they just read the online product listing and decide. There's less interaction between us and the customers, but it is more efficient,' he said. This shift is mirrored on platforms like Shopee. The company said Malaysians are increasingly browsing tyre options online, watching product demos via Shopee Video, and using Shopee Live to ask questions in real time. Many buyers compare prices and specifications, then book installation with a nearby workshop — often directly through the platform. 'This seamless online-to-offline journey is especially common for car tyres, while motorcycle tyres are usually delivered and installed at the buyer's convenience,' it said in a statement to Malay Mail. Tyre and rim sales on Shopee have grown by over 70 per cent year-on-year. Car batteries and automotive fluids are also seeing double-digit growth, reflecting rising trust in online platforms for vehicle upkeep. A worker installs a tyre for a customer at Performance Tyre Malaysia in Shah Alam. — Picture by Sayuti Zainudin At the workshop counter, 65-year-old Ahmad Jaffar waited with his wife. A loyal customer since the early days, he still prefers the walk-in experience. 'One time I sent my car for a wash next door, and I just walked into the workshop to ask about their services and prices. Everything was reasonable,' he recalled. While he understands the appeal of Shopee, he remains cautious. 'I don't really trust buying expensive items on Shopee. You need to know which listings are genuine. 'When you buy online, you can't inspect the product. Here, I can see the tyres myself. These things aren't cheap, I want to be sure,' he said. And it's not just about the rubber. 'You also need to understand the pricing, get proper advice. That's one thing I like about coming here. I can ask questions and get a full explanation. It gives me peace of mind.' For long-time customers like Ahmad, that personal touch still matters. But today, they are the exception. Tyres are just one example of how walk-in purchases are moving online. These days, Malaysians are just as likely to order refrigerators, washing machines and furniture from e-commerce platforms — items once thought too bulky or complex to buy without seeing in person.
