Latest news with #fintech
Globe and Mail
5 hours ago
- Business
- Globe and Mail
XTM Files Q1 2025 Interim Financial Results
XTM Inc. ('XTM' or the 'Company') (QB: XTMIF / CSE: PAID / FSE: 7XT), a fintech innovator in automated tip calculations, instant payouts for employees and gig workers and a provider of Earned Wage Access ('EWA') through its AnyDay™ platform, today announced it has filed its interim financial statements and management's discussion and analysis (MD&A) for the quarter ended March 31, 2025 (the 'Required Filings'). As part of XTM's continued strategic realignment and focus on profitability, the Company's previously announced transaction regarding its processing operations with Pateno Payments Inc. (a subsidiary of Digital Commerce Group) is progressing with only final US Banking operation approvals necessary to close. The transaction agreement deadline, originally set to close on May 30, 2025, is being extended to meet the various US Bank's departmental schedules. The partnership and ongoing support of Digital Commerce Bank positions XTM to rapidly scale its SaaS business with robust financial and infrastructure backing. Q1 2025 Financial and Operational Highlights Revenue Growth: Revenue was $2.7 million for the quarter, increasing 51% from the prior year quarter revenue of $1.8 million. Revenue Source: Less than 40% of the company's revenue in Q1 was derived from Interchange as part of the company's strategic goal to diversify revenue sources, now with the inclusion of Software as a Service (SaaS) revenue Net Loss & Comprehensive Loss: The Company reduced its net loss and comprehensive loss to $3.2 million in Q1 2025 compared to $5.3M in Q1 2024, a decrease of 40%. CAD $13M Credit Facility: On January 1, 2025, XTM signed a CAD $13 million Letter of Credit with Pateno Payments to support growth and cash neutrality, ahead of a planned financing and uplisting to a senior exchange in the second half 2025. Restricted Cash: The decrease in restricted cash of $14.2M includes $2.5M related to the migration of XTM funded EWA programs to client funded programs at QRails and an additional $9.6 million of deposits transferred to KOHO financial, which are expected to be returned by Q3 2025 Subsequent Events – Q1 2025 Sales Team Expansion & Early Wins: XTM is pleased to announce the expansion of its sales team, welcoming a new representative who successfully closed two new deals within their first two weeks at the Company. Consistent with XTM's hiring strategy, the new team member brings direct industry experience, having been an active AnyDay user within the hospitality sector—providing firsthand insight into the platform's value and driving authentic client engagement. Strong Year-to-Date Growth: As of the latest reporting period, XTM has signed 149 new client locations ('doors') for its Anyday wage and gratutity access solution, reflecting accelerating adoption and strong market demand. Filing Details The audited consolidated financial statements and MD&A for the year ended December 31, 2024, are available on the Company's profile at About XTM Inc. XTM Inc. is a global fintech innovator with offices in Miami, Toronto, Denver, and London. Through its AnyDay™ platform and its fully owned subsidiary, QRails, XTM delivers instant pay and Earned Wage Access solutions to the hospitality, personal care, and staffing sectors. XTM supports some of North America's leading brands including Earls, Marriott Hotels, Maple Leaf Sports & Entertainment, Cactus Club, and Live Nation. QRails is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions, and fintechs to deliver modern digital payment solutions. QRails is SAP-certified and PCI DSS and SOC compliant. Learn more at and Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. These statements involve known and unknown risks, uncertainties, and assumptions, and may include words such as "expects," "intends," "anticipates," "plans," "believes," and similar expressions. Actual results could differ materially from those projected due to various risks and factors beyond the Company's control. The CSE has neither approved nor disapproved the contents of this press release and accepts no responsibility for its adequacy or accuracy.
National Post
5 hours ago
- Business
- National Post
XTM Files Q1 2025 Interim Financial Results
Article content Article content TORONTO — XTM Inc. ('XTM' or the 'Company') (QB: XTMIF / CSE: PAID / FSE: 7XT), a fintech innovator in automated tip calculations, instant payouts for employees and gig workers and a provider of Earned Wage Access ('EWA') through its AnyDay™ platform, today announced it has filed its interim financial statements and management's discussion and analysis (MD&A) for the quarter ended March 31, 2025 (the 'Required Filings'). Article content As part of XTM's continued strategic realignment and focus on profitability, the Company's previously announced transaction regarding its processing operations with Pateno Payments Inc. (a subsidiary of Digital Commerce Group) is progressing with only final US Banking operation approvals necessary to close. The transaction agreement deadline, originally set to close on May 30, 2025, is being extended to meet the various US Bank's departmental schedules. Article content The partnership and ongoing support of Digital Commerce Bank positions XTM to rapidly scale its SaaS business with robust financial and infrastructure backing. Article content Q1 2025 Financial and Operational Highlights Article content Revenue Growth: Revenue was $2.7 million for the quarter, increasing 51% from the prior year quarter revenue of $1.8 million. Revenue Source: Less than 40% of the company's revenue in Q1 was derived from Interchange as part of the company's strategic goal to diversify revenue sources, now with the inclusion of Software as a Service (SaaS) revenue Net Loss & Comprehensive Loss: The Company reduced its net loss and comprehensive loss to $3.2 million in Q1 2025 compared to $5.3M in Q1 2024, a decrease of 40%. CAD $13M Credit Facility: On January 1, 2025, XTM signed a CAD $13 million Letter of Credit with Pateno Payments to support growth and cash neutrality, ahead of a planned financing and uplisting to a senior exchange in the second half 2025. Restricted Cash: The decrease in restricted cash of $14.2M includes $2.5M related to the migration of XTM funded EWA programs to client funded programs at QRails and an additional $9.6 million of deposits transferred to KOHO financial, which are expected to be returned by Q3 2025 Article content Subsequent Events – Q1 2025 Article content Sales Team Expansion & Early Wins: XTM is pleased to announce the expansion of its sales team, welcoming a new representative who successfully closed two new deals within their first two weeks at the Company. Consistent with XTM's hiring strategy, the new team member brings direct industry experience, having been an active AnyDay user within the hospitality sector—providing firsthand insight into the platform's value and driving authentic client engagement. Strong Year-to-Date Growth: As of the latest reporting period, XTM has signed 149 new client locations ('doors') for its Anyday wage and gratutity access solution, reflecting accelerating adoption and strong market demand. Article content Filing Details Article content The audited consolidated financial statements and MD&A for the year ended December 31, 2024, are available on the Company's profile at Article content About XTM Inc. Article content XTM Inc. is a global fintech innovator with offices in Miami, Toronto, Denver, and London. Through its AnyDay™ platform and its fully owned subsidiary, QRails, XTM delivers instant pay and Earned Wage Access solutions to the hospitality, personal care, and staffing sectors. XTM supports some of North America's leading brands including Earls, Marriott Hotels, Maple Leaf Sports & Entertainment, Cactus Club, and Live Nation. Article content QRails is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions, and fintechs to deliver modern digital payment solutions. QRails is SAP-certified and PCI DSS and SOC compliant. Article content This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws. These statements involve known and unknown risks, uncertainties, and assumptions, and may include words such as 'expects,' 'intends,' 'anticipates,' 'plans,' 'believes,' and similar expressions. Actual results could differ materially from those projected due to various risks and factors beyond the Company's control. Article content Article content Article content Article content Investor Contact: Article content Article content
Forbes
7 hours ago
- Business
- Forbes
Is It Chime's Turn To Shine? The $1.67B Question For 8.6M Users
A person is holding a mobile phone with the Chime logo on its screen. (Photo by Nikos ... More Pekiaridis/NurPhoto via Getty Images) After spending over $1 billion on customer acquisition in just a few years (a good chunk of it funding Meta and Google's massive profits) Chime has finally achieved the scale it craved to file for an IPO. With 8.6 million monthly active users and $1.67 billion in revenue, the neobank has built something impressive. Now comes the harder question: what next? Chime's S-1 filing, submitted ahead of its highly anticipated IPO, has raised a lot of eyebrows in the fintech industry. The company has proven it can acquire customers in great numbers (over 50% now come from referrals and organic channels, following the classic playbook pioneered by PayPal), retain their loyalty (67% maintain primary account relationships), and generate substantial revenue. But having spent billions to reach this point, the pressure is now squarely on execution. At the heart of Chime's business model lies a fundamental vulnerability: 72% of its revenue still comes from interchange fees collected when customers swipe their debit and credit cards. While this percentage has dropped from 80% in 2022-2023, the company remains essentially a payments business wrapped in banking clothes. Fintech analyst Alex Johnson points out that this dependence on interchange economics creates a sword of Damocles scenario. The Durbin Amendment, which caps interchange fees for large banks but exempts smaller ones like Chime's partners, created the regulatory arbitrage that enabled the neobank's model. But policy isn't set in stone. Any regulatory shift that eliminates or reduces this exemption could hammer Chime's core economics overnight. Traditional banks have spent decades diversifying their revenue streams across lending, wealth management, and fee-based services. Chime, despite its scale, remains vulnerable to the regulatory winds that created its business model in the first place. Which brings us to the elephant in the room: consumer lending. With 8.6 million monthly active users who trust Chime enough to route their paychecks through the platform, the neobank sits on one of fintech's most valuable assets—engaged customers with predictable income streams. The numbers tell a story of massive untapped potential. Credit Builder, Chime's secured credit card, generated $358.4 million in revenue in 2024. MyPay, the earned wage access product launched in July 2024, contributed $121 million. Add in the voluntary tips customers leave for SpotMe overdraft protection (yes, people actually tip their bank in 2025), and you have the foundation of a lending business. But here's where things get interesting, and frustrating for investors looking for growth. MyPay, despite the user base and need, has relatively low adoption. The economics remain challenging: in Q1 2025, MyPay generated $64.3 million in revenue but incurred $57.3 million in credit losses. They're essentially paying customers to borrow money. That being said, fresh starts are always tough for consumer credit businesses and as cohorts mature numbers will look much better. The newest addition, Instant Loans (allowing customers to borrow up to $500 at a fixed rate of $5 per $100 borrowed) launched only in March 2025, too recent to provide meaningful data in the S-1. But it represents Chime's attempt to move beyond overdrafts and wage advances into traditional unsecured lending. To understand the scale of the opportunity Chime is leaving on the table, consider Zilch, a UK-based buy-now-pay-later company operating in a similar demographic. Zilch serves roughly 4 million 'registered customers', a far less stringent metric than Chime's monthly active users, yet generates approximately $200 million annually from consumer credit products. The comparison is particularly striking because although the UK consumer credit market is far less competitive than the American one, the US market is vastly larger. Zilch's success with flat-fee credit products suggests there's a massive opportunity for transparent, fee-based lending in the US market. Chime appears perfectly positioned to introduce a similar model, and Instant Loans seems to approximate it. The company already has customer trust, engagement, and most crucially, primary account relationships that provide rich transaction data for underwriting decisions. Every quarter of modest credit growth represents millions in foregone revenue. Perhaps nothing captures Chime's success in reframing banking relationships quite like SpotMe's voluntary tip feature. In an industry built on penalty fees and gotcha charges, Chime has convinced customers to voluntarily tip their bank for overdraft protection. This generates millions in revenue and says everything about how broken traditional banking relationships have become. It's both hilarious and profound: only in 2025 would people feel generous enough to tip their bank, and only a company like Chime could make fee-free overdrafts feel like a service worth rewarding. Who knows, Chime might even get into advertising. This brings us to the central question facing Chime's IPO: are they being appropriately conservative with credit expansion, or do they simply lack the lending DNA to capitalize on their position? The MyPay economics suggest either cautious underwriting or fundamental challenges in the earned wage access model. Credit Builder works because it's a secured product, but unsecured lending is an entirely different beast. Traditional banks have decades of experience and sophisticated risk models; Chime is still learning. Yet the opportunity cost is enormous. With over 8 million engaged users, many living paycheck to paycheck, the demand for transparent, fairly-priced credit products is clearly there. Whether Chime can build the risk management capabilities to serve this demand profitably will largely determine whether it becomes a payments company with banking features or a true financial services platform. As Chime prepares for public markets, it faces the cold reality that scale alone doesn't guarantee success. The company's private valuation peaked at $25 billion in 2021; current expectations suggest a public debut closer to $8-10 billion. Public investors value recurring revenue and diversified business models differently than private markets chasing growth. The revenue mix shift from 80% interchange to 72% shows Chime understands the need to diversify. Platform revenue grew 92% year-over-year in Q1 2025, driven primarily by MyPay. But this growth came with margin compression that public investors will scrutinize carefully. Chime has achieved what many fintechs dream of: massive scale, engaged users, and a clear path to profitability. The company has proven it can acquire customers efficiently and maintain their loyalty. But having spent billions to reach this point, the pressure is now on execution. The interchange revenue that built Chime's foundation faces regulatory uncertainty. The credit opportunity that could secure its future remains largely untapped, with new products like Instant Loans still in early stages and MyPay showing modest adoption despite the massive user base. Whether it's truly Chime's turn to shine may depend less on what they've built so far and more on whether they can transform 8.6 million engaged users into a diversified revenue machine. The opportunity is enormous; the clock is ticking. Every quarter of conservative credit growth is millions in foregone revenue, and public market investors won't be as patient as private ones. The neobank has successfully executed phase one of the fintech playbook, customer acquisition at scale. Phase two, building a sustainable, diversified financial services business, will determine whether Chime becomes the challenger bank that finally cracked the code or just another cautionary tale about the limits of disruption in financial services.
Entrepreneur
9 hours ago
- Business
- Entrepreneur
Navigating Sustainable Growth – Lessons in Leadership and Scaling
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. At Brite Payments, we've grown from a small idea with big potential into a high- growth European fintech, a process that has brought with it a lot of lessons. For founders seeking to build something meaningful and enduring, here are five principles that have come to rely on through my entrepreneurial journey. Elevate your leadership with a strategic communication mindset Authenticity in leadership is a critical component in building trust within the workplace – even more so within a scaling business where change can be a constant. However, I believe that authentic leadership can be reinforced through a strategic communications mindset – thinking about and being deliberate in how information is shared, where it is shared, and with whom it is shared. The default setting for many startups is to share everything, everywhere, in the name of transparency. But this can be overwhelming as the business size and complexity increases. Leaders who can blend authenticity with an intentional and consistent communication style can bring a lot of clarity to their business. Strategic communication becomes even more important when operating across borders, where maintaining uniform standards helps prevent fragmentation. For example, ensure you have tightly defined title structures from day one, helping to avoid ambiguity internally. This ensures that whether someone is onboarding in Stockholm, Berlin or Madrid, for example, they're joining a company with a clear and consistent framework. When everyone understands where they sit within the organisation and what's expected at every level, it builds alignment and trust at scale. Hire like a strategist, not a sprinter In the early days of startup life, the pressure to move fast can tempt founders into hiring reactively. But overhiring can cost more than time – it can cost culture, clarity and eventually momentum. I believe that it is highly effective to hire for the most crucial senior positions early, which can help to avoid common mistakes than can become costly and painful to correct further down the line Bringing in experienced leaders and people who have navigated similar journeys also means that experience can "trickle down" and junior team members learn from their managers, helping them grow into more responsibility with greater ease. Prioritising roles that directly impact growth and ensure compliance will be key. Whether it's expanding into new markets or building the product in a way to meet regulatory demands, always be deliberate in identifying which positions are mission-critical and which ones can wait. Just because a role is common within the startup world, doesn't mean it's necessary right now. We are now operating in a second-generation world and fintech, along with tech more generally, is much more mature than it was 10-15 years ago. There now exists a level of domain expertise and knowledge that wasn't there when many of today's tech unicorns were founded. As a result, many roles are more specialised and have a more well-defined skill-set. For employers, there is pressure to stand out in talent markets, such as Stockholm, where well-established companies are fiercely chasing the same talent. Your unique employer proposition – whether it's growth opportunities, team culture or transparency – can also be your competitive edge. Build culture that can withstand growth It's easy to have a strong culture when your team fits around a table, but as companies scale, onboarding new team members across time zones, departments and geographies, culture becomes something that must be deliberately reinforced – not passively maintained. Founders need to bake culture into how they operate, not just how they celebrate. That means investing in performance management processes that scale, defining what high performance actually means in your context and not just in theory. At all levels of the organisation, individuals benefit from having clear growth paths, and culture must support long-term development – not just short-term output. That said, a strong culture is tested not in the good times, but when difficult decisions need to be made. Within a healthy environment, these moments are understood as part of the company's evolution and maturation. While it may be difficult or feel disruptive in the moment, strong culture can help teams to regroup and realign, with greater clarity on what success looks like. Operating across borders definitely adds a layer of complexity. European companies, for example, often span vastly different cultural norms. In Sweden, leadership tends to be consensus-based and non-hierarchical. In Germany, there's often more formality, structure and an expectation of top-down decision-making. Leadership expectations vary across regions, and culture can easily become fragmented without clear internal alignment. Maintaining a collaborative ethos while accommodating these nuances requires leaders to be intentional in how they set standards and communicate expectations. As a company grows, culture becomes a shared responsibility, but it starts at the top. Leaders set the tone. And the right tone can mean the difference between scaling successfully or fracturing under pressure. Stubbornness and adaptability are not mutually exclusive Sustainable growth requires founders to hold their vision tightly, but their methods loosely. While determination is an important quality in any entrepreneur, being too rigid about how to achieve a goal can limit a company's ability to evolve. Adaptability is not a sign of indecision, it's a strategy. In high-growth businesses, pivots in product focus, market positioning or internal structure are often necessary. What may initially feel like a step back, can in hindsight create space for stronger long-term performance. Founders and leaders who stay grounded in their core mission, while remaining flexible in how they get there, are best positioned to navigate change effectively. Striking the right balance between consistency and iteration is especially important when scaling. Encouraging innovation inside the company requires more than just giving people permission to share ideas; it involves designing an environment where creativity is welcomed, and feedback is actionable. However, openness must be matched with structure. Not every idea will be implemented, but every idea should be heard. That balance between inclusivity and decisiveness is what keeps companies fast, without tipping into chaos. Ultimately, the goal is to build a team and culture that knows when to double down and when to rethink the playbook. Leaders must model that behaviour too. And when anchored to a clear purpose, adaptability becomes a competitive advantage and not a compromise. Think beyond the next quarter Chasing short-term growth may generate quick wins, but without long-term direction, it can also damage the engine driving sustainable success. For scale-ups especially, it's not just about hitting quarterly revenue targets; it's about making deliberate decisions about where to invest people, time, and capital for the future. Founders and executive teams need to resist the allure of growth for growth's sake. That means taking the time to define clear long-term objectives and making sure those goals are communicated and understood at every level of the business. Regularly reviewing and adapting long-term plans keeps the organisation aligned and focused, even as the market shifts. Long-term thinking also means building with resilience in mind. Scalable systems, empowered leadership, and flexible processes are needed to navigate the unknown. Whether it's new regulation, sudden macroeconomic changes or rapid market expansion, businesses that plan ahead are better positioned to respond without losing momentum. Sustainable scaling doesn't mean playing it safe but it does require playing the long game. The companies that endure are the ones that build for what's next, not just what's now. The real work of long-term success Sustainable growth is about being intentional and uncomfortable decisions may need to be made at every stage of the journey. For founders, that means continuously evolving your role and your perspective. What worked when you were 10 people won't work at 50, and what worked at 50 won't scale to 200. The fundamentals of scaling a successful business I believe can be encapsulated as follows; lead with clarity, hire with intent, and adapt without compromising your values. The recipe might sound simple, but the complexity lies in doing those things consistently, especially when the pace picks up and the stakes get higher. Founding a company shouldn't just be about chasing an idea. It should be about building the foundations to make that idea real, over and over again as your market, your team and your role all change. That's the real work. And it's what makes this journey worth it.
Finextra
11 hours ago
- Business
- Finextra
Visa makes AI-driven commerce push in Asia Pacific
The future of commerce in Asia Pacific is on display at the Visa Asia Pacific Media Showcase, where the company announced a suite of product innovations and strategic partnerships to enable a new era of commerce for the region. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Jack Forestell, Visa's Chief Product and Strategy Officer said, 'Combining the strength of our global network with our leadership in payment innovation here in Asia Pacific, we are bringing new products and solutions that will transform commerce and deliver trust and security to AI-enabled payments across the region.' The Visa Asia Pacific media showcase highlighted how AI-enabled digital commerce will significantly change the way consumers across the region discover and purchase products and services. In the near future, AI agents will browse, select, purchase, and manage transactions on behalf of users, making trust in payments more important than ever. Visa's new AI-enabled solutions offer regional partners including AI platforms, fintechs, banks, and merchants a seamless way to connect to the Visa network to deliver secure, frictionless payment experiences. Headlining today's announcement, the company introduced Visa Intelligent Commerce, a new initiative that opens Visa's payments network to developers and engineers building the first generation of AI-powered commerce in Asia Pacific. Visa Intelligent Commerce: A New Era for Asia Pacific Visa Intelligent Commerce brings a suite of integrated APIs and a commercial partner program to AI platforms, enabling developers to deploy Visa's AI commerce capabilities securely and at scale. Visa announced today that it is in explorations with Ant International, Grab and Tencent to grow AI commerce by enabling a secure and seamless checkout experience. Ant International is a leading global digital payment, digitisation, and financial technology provider. Grab is Southeast Asia's leading super app offering ride-hailing, food delivery, digital payments, and financial services across eight markets. Tencent is a multinational technology leader that develops a wide range of digital products and services, including Weixin/WeChat, China's super app. Over the past 25 years, Visa's global network has handled 3.3 trillion transactions. Today, Visa is advancing its infrastructure, standards, and capabilities to power AI-driven commerce, opening new opportunities for consumers across Asia Pacific. Soon, AI agents integrated into familiar platforms will be able to transact using Visa's 4.8 billion credentials at millions of merchant locations worldwide. T.R. Ramachandran, Head of Products and Solutions, Asia Pacific, Visa, said, 'As global commerce continues to evolve rapidly, Visa remains at the forefront of delivering innovations that will enable the future of commerce across Asia Pacific.' 'We believe AI agents will play a growing role in commerce, from handling routine purchases such as ordering food, to more complex purchases such as securing event tickets or making travel reservations,' added Ramachandran. 'By combining AI capabilities with Visa's trusted payment infrastructure, we are enabling a seamless, secure, and more enjoyable experience for consumers, merchants, and businesses alike.' New Products and Capabilities for Asia Pacific Visa continues to expand its product portfolio with solutions designed to support the evolving payment needs of consumers and businesses across Asia Pacific. Stablecoins: Visa has been facilitating cryptocurrency transactions for over five years and is now expanding its offering to include stablecoin backed cards, settlement, and programmable money. On and off-ramps via stablecoin-backed cards allow consumers to use their Visa credentials to buy stablecoins with fiat currency and pay with stablecoin across Visa-accepting merchant locations. In Asia Pacific, Visa is partnering with DCS Singapore, DTC Pay and StraitsX on stablecoin-backed cards that support conversion through regulated infrastructure. Enabling seven-day-a-week settlement for stablecoins: Visa has settled more than $225 million to date in stablecoin volume that has been settled through Visa across participating clients. In Asia Pacific, Visa is working with StraitsX for stablecoin settlement. Through the Visa Tokenized Asset Platform (VTAP), Visa provides a platform for our partners to issue and manage fiat-backed tokens, offering interconnectivity to public and private blockchains, enabling programmable financing, trading of tokenized assets and facilitating cross-border money movement. Visa is looking to expand the availability of VTAP to more partners later this year and into 2026. Flex Credential: Visa's Flex Credential, a next-generation card that allows users to toggle between debit, credit, and reward points, continues to gain traction in Asia Pacific. Visa first launched Flex in partnership with Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card Company (SMCC), known as Olive, two years ago in Japan. Today, more than 5 million Olive account holders are benefitting from the Visa Flex Credential. The Olive card continues to outperform, with cardholder transactions averaging 40% higher than the national average in Japan over the past year. Visa and SMCC have expanded the Visa Flex Credential to support small businesses with the flexibility to switch between business and personal accounts using the same Olive card, enhancing access to credit and cash flow management. Visa is also collaborating with local banks in Vietnam to launch Flex Credential in the next few months. New Strategic Partnerships to Enable More Ways to Pay and Get Paid Visa is launching new services and partnerships to make it easier for consumers, merchants, and businesses in Asia Pacific to pay and get paid. Visa Pay: A service designed to connect any participating wallet to any Visa-accepting merchant, local or international, in-store or online, launches across Asia Pacific, home to the largest number of digital wallet users. Through partnerships with leading players including LINE Pay in Taiwan, Maya in the Philippines, OpenRice in Hong Kong, and Woori Card in South Korea, Visa is expanding access to its global network, giving consumers more ways to pay globally by tapping, scanning or online. Digital Identity: This suite of solutions includes Passkeys, Tap to Confirm, and enhanced data which are meant to identify and authenticate digital users. These solutions will reduce friction for consumers by being digitally native while improving payment security and authorisation rates with enhanced transaction data and state-of-the-art fraud prevention techniques. New partners in the region include Coles, a supermarket chain in Australia and Maybank, a leading financial services provider in Malaysia and Southeast Asia. Visa Accept is a new solution that allows micro-sellers to receive payments directly to their eligible Visa debit card using any NFC-enabled smartphone. Launching in Vietnam, the service supports micro-entrepreneurs and informal sellers such as street vendors, freelancers, and rural service providers. Participating issuers will enable cardholders to accept contactless payments through their bank's mobile app.
