Latest news with #cashlesspayments
Zawya
3 days ago
- Business
- Zawya
Yango Group expands 'Points' loyalty program to Abu Dhabi with valuable rewards for rides
Abu Dhabi, UAE – Yango Group, the global tech company, has launched the Yango Points program in Abu Dhabi, a loyalty program designed to reward users for cashless ride payments made through the Yango app. Introduced as part of the brand's ongoing commitment to deliver greater everyday value, the program allows users to earn loyalty points that can be redeemed for future rides, creating a rewards experience that complements the evolving expectations of digital-first consumers in the UAE. Exclusively available to subscribers of Yango Play, the program offers users the opportunity to earn cashback in the form of Yango Points every time they complete a Comfort-class ride using a cashless payment method. These points can then be used for upcoming rides across any category, including Comfort, Taxi, and Taxi Van, provided the trip originates within the boundaries of Abu Dhabi. The value of each Yango Point is 1 AED. Before 30 June 2025, program users will earn up to 50% cashback in Yango Points on all cashless Comfort-class rides. After 30 June 2025, they will continue to receive up to 30% cashback, creating a sustained value proposition for regular riders. The points are credited directly to the user's account and are visible on the main screen of the Yango app, offering an intuitive way to track and redeem them at any time. Once redeemed, points are deducted automatically from the total fare on a future trip. Points accrued, but not redeemed, will remain valid for 30 days after the end of a user's subscription. Islam Abdul Karim, Regional Head of Yango Group Middle East, commented: 'With Yango Points, we're making loyalty simple, transparent, and truly rewarding. Customers in Abu Dhabi are already highly engaged with digital mobility solutions, and we see this program as a natural next step, one that not only adds value to their rides but also reinforces the convenience and advantages of going cashless. This initiative reflects our broader goal of offering our community real value every time they choose Yango.' To join the program, users must be subscribed to Yango Play. New users can access the first 30 days of the subscription for just 1 AED, after which the plan renews at a monthly rate of 29.99 AED. Upon subscribing via the Yango application, users receive up to 50 welcome points, which can immediately be used toward their next ride. Existing subscribers can access the loyalty program directly from their current accounts without any additional setup. Yango Points will soon extend to cover delivery orders through Yango's Cargo service, broadening the scope of the rewards ecosystem and enhancing its value across more use cases. This planned expansion will allow users to redeem points for logistics and delivery needs, supporting a more connected and efficient urban experience. As more consumers seek practical and rewarding experiences from digital services, the brand's loyalty program introduces a straightforward solution that enhances affordability without compromising service quality. For users in Abu Dhabi, it represents a new way to turn their daily journeys into real savings. About Yango Group Yango Group is a tech company that transforms global technologies into everyday services tailored for local communities. With an unwavering commitment to innovation, the company reshapes and enhances leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions. The mission is to bridge the gap between world-leading innovations and local communities, fostering connections and enhancing everyday living experiences.
Japan Times
21-05-2025
- Business
- Japan Times
Cashless payments top 40% of consumer spending in Japan
Cashless payments, primarily those made through credit cards, electronic money and QR codes, are becoming increasingly widespread in Japan. Such payment methods now account for over 40% of all personal spending in the country, reflecting a growing trend of consumers carrying little or no cash with them when going out. A number of issues still need to be addressed, however, especially a growing risk of unauthorized use of cashless payments and the potential disruption of services during disasters. In late March, the Ministry of Economy, Trade and Industry reported that cashless payments in Japan totaled ¥141 trillion ($980 billion) in 2024, marking an 11.3% increase from the previous year. The share of such payments in personal consumption surpassed 40% for the first time, reaching 42.8%. The government's target of around 40% of spending to be made via cashless payments by 2025 was therefore achieved ahead of schedule. Cashless payments have continued to grow steadily year by year, with the total for 2024 reaching 3.7 times the ¥38.3 trillion recorded in 2010. A breakdown of the 2024 figures shows that credit cards accounted for the largest share of the total, at 82.9%, while payments based on QR or other codes have expanded rapidly, making up 9.6%. While electronic commerce has grown, an increasing number of brick-and-mortar stores now accept contactless credit card payments and smartphone-based apps such as PayPay, creating an environment more conducive to cashless shopping. The COVID-19 pandemic also accelerated the adoption of cashless payments, as consumers sought to minimize physical contact during in-person transactions. From a global perspective, however, Japan's cashless payment penetration remains relatively low. According to the Payments Japan Association, South Korea recorded by far the highest share of cashless payments in 2022, at 99.0%. Japan also trailed significantly behind China's 83.5%, Singapore's 65.6%, Britain's 64.2%, and the United States' 56.4%. The government aims to raise the domestic share of cashless payments to 80% to put the country's rate among the highest globally. Officials note that expanding cashless payments will not only enhance user convenience, but also help reduce cash-handling costs and alleviate labor shortages. Still, achieving the government's target will require overcoming several challenges. One major hurdle is the high cost borne by retailers, including expenses for installing cashless payment equipment and the commissions charged by service providers. The government has called on related industries to collaborate on easing financial burdens wherever possible. In addition, credit card fraud remains a serious concern. According to the Japan Consumer Credit Association, losses from unauthorized use reached a record ¥55.5 billion in 2024, with over 90% of the total attributed to stolen card numbers. In response, eight credit card companies in Japan announced a joint initiative in March to crack down on phishing websites. Moreover, natural disasters can pose a significant risk to cashless payment systems. A powerful earthquake that struck Hokkaido in 2018 triggered a regionwide power outage, the first of its kind in the country. With cash registers unable to read product information or verify credit card details, cashless payments could not be made at many stores. People without cash were unable to purchase essentials such as food and beverages, underscoring the risks of relying too heavily on cashless payments. In a report released in late March, the government announced new damage forecasts for a potential large-scale earthquake along the Nankai Trough, off the Pacific coast from central to western Japan. The report warned of the possibility that many consumers could become "shopping refugees," stranded without access to essential goods due to power outages and communication failures. The report emphasized that measures to ensure the continuity of payment systems "must be implemented on an ongoing basis." It also cautioned that system failures "could affect not only disaster-hit regions but the entire country," effectively urging consumers to keep cash on hand in case of emergencies.
Malay Mail
15-05-2025
- Business
- Malay Mail
Enabling Mindful Spending: DeCard by DCS and Visa Offers Secure, Frictionless, Real-World Utility — Micro Credit Card Fueled by Fiat or Digital Assets
Through its dual access to TradFi and Web3 and high-limit flexibility, DeCard gives consumers and businesses smarter ways to tap into what they have while managing their cashflow DCS and Visa launch DeCard Visa card — a micro credit card that supports both fiat and digital asset top-ups. From left: George Jiang, Chief Product Officer, DCS; Dr. Cyrus Tong, Chief Compliance Officer, DCS; Lionel Lee, MD, Consumer Cards, DCS; Nischint Sanghavi, Head of Digital Currencies, Visa Asia Pacific; Adeline Kim, Visa Country Manager, Singapore & Brunei; Cheng Haoran, Chief Operating Officer, DCS; Elsa Qiu, Chief Commercial Officer, DCS; Dayna Leng, Chief Marketing Officer, DCS; Kerri Teo, Visa, Head of Sellers & Fintechs, Singapore & Brunei. Top-up via SGD transfers or select digital assets (via licensed partners) High flexible spending and top-up limit Competitive single conversion cost from digital assets to SGD, eliminating additional FX fees for local spending Over 50% savings on FX transaction fees compared to typical industry rates* No annual fees ATM withdrawal fee capped at SGD5 or 1% (whichever is lower) Cash withdrawals are available at ATMs worldwide (except Singapore) Compatible with Google Pay and Apple Pay Issued by DCS, a MAS-regulated financial institution under the Banking Act SINGAPORE - Media OutReach Newswire - 15 May 2025 - DCS Card Centre , a leading transformative financial institution that pioneered cashless payments as Diners Club Singapore, and Visa (NYSE: V), a global leader in digital payments, have jointly launched DeCard Visa card — a regulated micro credit card with a flexible and high limit, allowing users to top up via fiat or, alternatively, with digital assets. Designed to empower individuals to spend only what they already own, without taking on unnecessary financial risk, DeCard Visa card is a next-generation card that delivers flexibility, control, and transparency across both traditional and digital funding sources, all within a seamless and secure 2024, 26% of Singapore residents owned digital assets — up from 24.4% the year before — with over half having used them for payments and 67% planning to increase usage . At the same time, contactless credit, debit, and prepaid cards remain the most preferred payment method among Singaporeans at 34% , with the prepaid segment projected to reach over US$13 billion by 2028 — reflecting a strong consumer shift toward accessible, controlled spending addresses both trends by offering a spend-what-you-have-model that helps users unlock their fiat or digital assets for everyday use without the burden of overspending. It provides an accessible and frictionless way for users to tap into existing value — without promoting new digital asset traditional credit or debit cards, DeCard Visa card operates on a top-up model, where users fund the card through SGD transfers, with the option of using digital assets for those already active in the Web3 Visa card allows these Web3 users to seamlessly convert USDT and USDC into fiat currency for local and global spending through MAS-licensed Digital Payment Token (DPT) service providers. These partners handle all token-to-fiat conversions in full alignment with Singapore's Payment Services Act for digital assets. Leveraging on Visa's extensive merchant network, DeCard holders can spend digital assets at over 150 million merchant locations worldwide. The process ensures secure, transparent transactions while adhering to local licensing standards and the MAS' guidelines on responsible innovation, operating within Singapore's financial over 50 years of banking heritage, DCS is a MAS-regulated card issuer under the Banking Act and the pioneer of cashless payments in Singapore as Diners Club Singapore. DCS adheres to stringent banking standards and ensures bank-grade security, applying the same regulatory-first commitment when bridging Web2 and Web3 ecosystems — prioritising governance while enabling evolving digital behavior. The DeCard Visa card is part of DCS's broader strategy to drive secure, transparent efficiency and real-world digital utility for both traditional and Web3-aligned users."At DCS, we believe users should have more clarity and control over their spending — not less," said"By enabling top-ups through fiat or digital assets, we're allowing both mainstream and Web3-savvy users to manage their money on their own terms — all within Singapore's trusted regulatory framework. Our partnership with Visa strengthens this commitment by combining global acceptance with secure, compliant innovation.""We are proud to partner with DCS to launch a credit card in Singapore, that bridges traditional finance with digital assets. This innovation enables consumers to convert their stablecoins to fiat for their transactions, allowing seamless payments at any Visa-accepting merchant worldwide. This card programme represents a significant step towards an integrated financial ecosystem where stablecoins can be used for everyday commerce, giving consumers more options in how they access and use their digital assets, while maintaining the security and convenience that Visa can provide," saidThe DeCard Visa card is foundational to reshaping and modernizing the incumbent payments landscape, starting with Singapore and a vision to scale internationally. Through this card product, DCS is committed to providing secure, flexible, and future-ready payment solutions, paving the way to bridge traditional finance and digital assets with everyday spending more information about DeCard, visit: Hashtag: #DCS #decard #web3 #digitalasset #defi #tradfi #web2 #digitallifestyle #digitalpayments #crypto #fiat The issuer is solely responsible for the content of this announcement. DCS Card Centre DCS Card Centre, a subsidiary of DCS Fintech Holdings, is a leading transformative financial institution, rapidly advancing its fintech capabilities. We envision a world where users everywhere can easily and confidently access funds and assets to meet their daily needs and life moments, while embracing a responsible digital lifestyle. Our mission is to reinvent the global financial infrastructure, making payments inclusive and ubiquitous for everyone. With over 50 years of banking heritage, DCS is a MAS-regulated card issuer operating under the Banking Act and the pioneer of cashless payments in Singapore as Diners Club Singapore. Building on a regulatory-first foundation, we are setting new standards in digital commerce, including bridging traditional (TradFi) and Web3 ecosystems. DCS is uniquely positioned to deliver innovative, secure, and trusted borderless digital payment solutions through a safe, compliant, scalable, and interconnected financial platform for consumers and businesses alike. Learn more at Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
Zawya
15-05-2025
- Business
- Zawya
Enabling Mindful Spending: DeCard by DCS and Visa Offers Secure, Frictionless, Real-World Utility — Micro Credit Card Fueled by Fiat or Digital Assets
Through its dual access to TradFi and Web3 and high-limit flexibility, DeCard gives consumers and businesses smarter ways to tap into what they have while managing their cashflow SINGAPORE - Media OutReach Newswire - 15 May 2025 - DCS Card Centre, a leading transformative financial institution that pioneered cashless payments as Diners Club Singapore, and Visa (NYSE: V), a global leader in digital payments, have jointly launched DeCard Visa card — a regulated micro credit card with a flexible and high limit, allowing users to top up via fiat or, alternatively, with digital assets. Designed to empower individuals to spend only what they already own, without taking on unnecessary financial risk, DeCard Visa card is a next-generation card that delivers flexibility, control, and transparency across both traditional and digital funding sources, all within a seamless and secure experience. Meeting the Demands of Digital Growth and Informed Spending In 2024, 26% of Singapore residents owned digital assets — up from 24.4% the year before — with over half having used them for payments and 67% planning to increase usage. At the same time, contactless credit, debit, and prepaid cards remain the most preferred payment method among Singaporeans at 34%, with the prepaid segment projected to reach over US$13 billion by 2028 — reflecting a strong consumer shift toward accessible, controlled spending options. DeCard addresses both trends by offering a spend-what-you-have-model that helps users unlock their fiat or digital assets for everyday use without the burden of overspending. It provides an accessible and frictionless way for users to tap into existing value — without promoting new digital asset adoption. Unlike traditional credit or debit cards, DeCard Visa card operates on a top-up model, where users fund the card through SGD transfers, with the option of using digital assets for those already active in the Web3 community. DeCard Visa card allows these Web3 users to seamlessly convert USDT and USDC into fiat currency for local and global spending through MAS-licensed Digital Payment Token (DPT) service providers. These partners handle all token-to-fiat conversions in full alignment with Singapore's Payment Services Act for digital assets. Leveraging on Visa's extensive merchant network, DeCard holders can spend digital assets at over 150 million merchant locations worldwide. The process ensures secure, transparent transactions while adhering to local licensing standards and the MAS' guidelines on responsible innovation, operating within Singapore's financial framework. With over 50 years of banking heritage, DCS is a MAS-regulated card issuer under the Banking Act and the pioneer of cashless payments in Singapore as Diners Club Singapore. DCS adheres to stringent banking standards and ensures bank-grade security, applying the same regulatory-first commitment when bridging Web2 and Web3 ecosystems — prioritising governance while enabling evolving digital behavior. The DeCard Visa card is part of DCS's broader strategy to drive secure, transparent efficiency and real-world digital utility for both traditional and Web3-aligned users. "At DCS, we believe users should have more clarity and control over their spending — not less," said Elsa Qiu, Chief Commercial Officer at DCS Card Centre."By enabling top-ups through fiat or digital assets, we're allowing both mainstream and Web3-savvy users to manage their money on their own terms — all within Singapore's trusted regulatory framework. Our partnership with Visa strengthens this commitment by combining global acceptance with secure, compliant innovation." "We are proud to partner with DCS to launch a credit card in Singapore, that bridges traditional finance with digital assets. This innovation enables consumers to convert their stablecoins to fiat for their transactions, allowing seamless payments at any Visa-accepting merchant worldwide. This card programme represents a significant step towards an integrated financial ecosystem where stablecoins can be used for everyday commerce, giving consumers more options in how they access and use their digital assets, while maintaining the security and convenience that Visa can provide," said Nischint Sanghavi, Head of Digital Currencies – Asia Pacific. Key highlights of DeCard Visa card include Real-World Ready Funding Options Top-up via SGD transfers or select digital assets (via licensed partners) High flexible spending and top-up limit Cost Effective Digital Asset Management Competitive single conversion cost from digital assets to SGD, eliminating additional FX fees for local spending Over 50% savings on FX transaction fees compared to typical industry rates* No annual fees ATM withdrawal fee capped at SGD5 or 1% (whichever is lower) Cash withdrawals are available at ATMs worldwide (except Singapore) Digital Wallet Ready Compatible with Google Pay and Apple Pay Safe and Trusted Issued by DCS, a MAS-regulated financial institution under the Banking Act *The calculation is based on a foreign transaction fee rate of 3.25%, which applies to the majority of credit cards in Singapore. The DeCard Visa card is foundational to reshaping and modernizing the incumbent payments landscape, starting with Singapore and a vision to scale internationally. Through this card product, DCS is committed to providing secure, flexible, and future-ready payment solutions, paving the way to bridge traditional finance and digital assets with everyday spending globally. For more information about DeCard, visit: Hashtag: #DCS #decard #web3 #digitalasset #defi #tradfi #web2 #digitallifestyle #digitalpayments #crypto #fiat The issuer is solely responsible for the content of this announcement. DCS Card Centre DCS Card Centre, a subsidiary of DCS Fintech Holdings, is a leading transformative financial institution, rapidly advancing its fintech capabilities. We envision a world where users everywhere can easily and confidently access funds and assets to meet their daily needs and life moments, while embracing a responsible digital lifestyle. Our mission is to reinvent the global financial infrastructure, making payments inclusive and ubiquitous for everyone. With over 50 years of banking heritage, DCS is a MAS-regulated card issuer operating under the Banking Act and the pioneer of cashless payments in Singapore as Diners Club Singapore. Building on a regulatory-first foundation, we are setting new standards in digital commerce, including bridging traditional (TradFi) and Web3 ecosystems. DCS is uniquely positioned to deliver innovative, secure, and trusted borderless digital payment solutions through a safe, compliant, scalable, and interconnected financial platform for consumers and businesses alike. Learn more at Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at DCS
