Hong Kong-based PhotonPay has raised US$40 million in a Series C led by Blockchain Capital, with SBI Group joining. The cross-border payments firm, which reports US$65 billion in annualised volume, will invest in wallets, card issuing, local clearing and AI-driven payments.
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Malaysians are set to move US$261 billion through digital payments in 2026, up 17%, making the country Southeast Asia’s second-largest digital payments market, says the e-Conomy SEA report by Google, Temasek and Bain. The wider digital economy grows 20% to US$48 billion.
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Indian merchant payments firm Pine Labs made more than six times as much profit in the September quarter as a year earlier, with revenue up 24% to ₹806 crore as online checkouts and UPI payments grew fast. Here is what drove it and why it matters across Asia.
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Kuala Lumpur fintech Fingular has secured a US$20 million credit facility from Singapore’s Silverstreak, all for Malaysia. It lifts funding for its local consumer, micro-SME and AhaPay BNPL lending to more than US$50 million, as Malaysia brings non-bank credit under new rules.
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JCB has signed an MoU with Hanoi Metro to launch JCB transit in early 2027, letting cardholders tap contactless JCB cards or phones at fare gates. It joins Visa, already live on Lines 2A and 3.1, and targets visitors from Japan, South Korea and Taiwan.
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Fitch estimates Malaysia’s Islamic finance industry is now worth more than US$800 billion, while Bank Negara Malaysia urges banks to turn tokenised sukuk pilots into everyday deals. A tokenised retail savings sukuk in Budget 2027 could bring the technology to ordinary savers.
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Four more Philippine banks are expected to switch on Apple Pay around November, taking the total to eight, Mastercard’s country manager says. More lenders should follow in early 2027, as BSP data show digital payments now make up most retail payments.
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Maybank now lets eligible Singapore companies open a ringgit current account, so they can hold ringgit and pay Malaysian suppliers without last-minute currency conversions. It follows OCBC letting Singapore savers hold up to RM50,000, as banks chase growing flows across the Causeway.
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Woori Bank and Samsung have taken Samsung Wallet Money overseas. Galaxy users can now tap to pay at about 150 million Mastercard merchants worldwide and scan WeChat Pay QR codes in China, paying from a prepaid won balance with no card, cash or extra app.
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PayNet has switched on outbound DuitNow QR payments through Ant International’s Alipay+, letting Maybank, CIMB and Hong Leong Bank customers scan and pay in China, Hong Kong, South Korea, the Philippines and Laos straight from their Malaysian banking apps, with Bank Islam joining soon.
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