Fintech and payments news from Singapore.
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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Grab, Wise and Liquid Group are the first payment firms to declare adherence to the Singapore FinTech Association’s voluntary payments code, which requires full cost disclosure before payment, bans drip pricing and misleading zero-fee claims, and sets standards on fraud, data breaches and resilience.
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Singapore POS firm Qashier has launched QashierGM, a free AI assistant that answers merchants’ questions on sales and payouts and makes approved menu and price changes. It plans to bring the tool to Malaysia, Thailand and the Philippines in November.
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Bank Negara Malaysia and the Bank of Thailand have joined BLOOM, a Singapore-led programme on settling cross-border payments with tokenised deposits and regulated stablecoins. Nothing changes for consumers yet, but Malaysian banks, wallets and exporters could benefit as common regional rules take shape.
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Singapore’s DBS has switched on QR payments in Taiwan for its PayLah! e-wallet, giving more than 3 million users access to over 250,000 merchants on the TWQR network, with full network coverage, two-way payments and a merchant-scan option planned for 2027.
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Shopee parent Sea is considering spinning off and listing Monee, its payments and lending arm, which earned US$1.4 billion in revenue last quarter on a US$11.1 billion loan book. Here is what the plan means for ShopeePay and SPayLater users across the region, including Malaysia.
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Singapore’s central bank has granted merchant payments firm KPay a Major Payment Institution licence, three months after in-principle approval. KPay is adding online payments, digital invoicing and an F&B point-of-sale system, and says Singapore will be its template for wider Asia-Pacific growth.
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Singapore-founded blockchain settlement network Partior and LSEG’s Digital Settlement House (DiSH) have announced a strategic tie-up to enable 24/7 cross-border settlement-bank liquidity. The Multi-Settlement Bank solution aims to kill the pre-funded nostro/vostro friction that slows global payments, with J.P. Morgan, Deutsche Bank and Standard Chartered in testing and a production go-live targeted for Q1 2027.
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