Posts From Fintech News Malaysia

Securities Commission Malaysia Cautions Against Illegal Crypto ATMs
Blockchain/Bitcoin

Securities Commission Malaysia Cautions Against Illegal Crypto ATMs

The Securities Commission Malaysia (SC) cautioned the public against the usage of Crypto ATMs. Crypto ATM are machines that allows individuals to buy and/or sell digital assets like Bitcoin and Ethereum, and XRP. These machines are installed in various locations in

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Instapay Launches an E-Wallet for Migrant Workers Eyes 100,000 Users
E-Wallets Financial Inclusion

Instapay Launches an E-Wallet for Migrant Workers Eyes 100,000 Users

Instapay announced today the launch of an e-wallet service that is targetted at the migrant worker population. The company holds an e-money license with Bank Negara Malaysia (BNM) and has teamed up with Mastercard to a pre-paid payments card that’s

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Luno Malaysia Launches Litecoin on Its Platform
Blockchain/Bitcoin

Luno Malaysia Launches Litecoin on Its Platform

Following the introduction of XRP, Luno announced today that it has added Litecoin (LTC) to its trading platform. This is the fourth digital asset approved by the Securities Commission Malaysia to be traded by Malaysians. From 7th July, Malaysian customers

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Adyen Expands Acquiring Capabilities to Malaysia
Payments

Adyen Expands Acquiring Capabilities to Malaysia

Adyen, a global payments platform, today announced the expansion of its acquiring capabilities to include Malaysia. They said that this move complements the company’s all-in-one payment platform allowing merchants like Fave, foodpanda and Love, Bonito to get the most out

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Hong Leong Saw 13x More E-Wallet Top-Ups During MCO
Banking

Hong Leong Saw 13x More E-Wallet Top-Ups During MCO

The COVID-19 pandemic has fundamentally changed the way we live resulting in mass digital adoption as we rapidly shifted to a digital and contactless way of life – from buying food and essentials to how we work. Domenic Fuda, Group

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Finology Lands Partnership with Zurich for Road Tax and Motor Insurance Renewal Services
Insurtech

Finology Lands Partnership with Zurich for Road Tax and Motor Insurance Renewal Services

Over two million Malaysian road taxes remain expired since the Road Transport Department (JPJ) counters closed during the Movement Control Order (MCO). In an effort to help address this as well as Malaysia’s alarming number of uninsured vehicles on the

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How Will Virtual Banks Shape the Way Malaysians Bank
Virtual Banking

How Will Virtual Banks Shape the Way Malaysians Bank

As consumers behaviors shift to becoming increasingly digital, the financial services industry is forced to cater to changing nature of its customers. Regulators are also taking notice of the shift and gaps within the system and as a result, started

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Boost and Aspirasi Launches Micro-Insurance Underwritten by Great Eastern Life Assurance
E-Wallets Insurtech

Boost and Aspirasi Launches Micro-Insurance Underwritten by Great Eastern Life Assurance

Axiata Digital’s e-wallet Boost and its digital financing platform Aspirasi announced today the launch of “Aspirasi Protect” – a microinsurance plan which provides affordable, accessible and on-demand protection to Malaysians. This new insurance product is underwritten by Great Eastern Life.

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Bank Negara Malaysia Unveils New eKYC Guidelines Ahead of Its Virtual Banking Framework
Digital Transformation Virtual Banking

Bank Negara Malaysia Unveils New eKYC Guidelines Ahead of Its Virtual Banking Framework

Bank Negara Malaysia issued its policy document on Electronic Know-Your-Customer (e-KYC) on Tuesday, which follows their earlier exposure draft in December 2019. This new policy is in effect immediately for all financial institutions including banks, insurers, remmitance companies, money changers

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BigPay Adds Vietnam and Australia to its Remittance Corridor
Payments

BigPay Adds Vietnam and Australia to its Remittance Corridor

BigPay announced today the addition of two more new corridors for its international remittance service — Vietnam and Australia, with China coming soon. This follows their announcement in January of adding India, Nepal and Bangladesh corridors. BigPay said that offering

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