banking

  • Thailand

    Google Wallet launches in Thailand

    Google Wallet just launched in Thailand. Google Wallet is a free mobile payment system that allows users to make quick, contactless payments from their smartphone or smartwatch. Boarding passes, concert tickets and loyalty cards can also be stored in the virtual wallet. When you add your credit/debit cards to Google Wallet, you can tap to pay anywhere Google Pay is…

  • Sponsored

    How cross-border payments fintechs like DeeMoney are empowering the gig economy

    Press Release Even before COVID-19 changed the world of work forever, there was a trend towards a greater reliance on freelancers. In fact, they now make up 35 per cent of the global workforce – that’s about 1.1 billion people. Unsurprisingly, that number has been skyrocketing during the pandemic, with a growth of 24% recorded in just a single quarter…

  • Southeast Asia

    Citi to sell consumer banking business in Southeast Asia to Singapore’s United Overseas Bank

    Citigroup announced on Thursday its agreement to sell its consumer banking operations in Thailand, Malaysia, Indonesia and Vietnam to United Overseas Bank (UOB) for approximately US$2.97 billion. UOB stated that as part of the agreement, it will acquire Citi’s retail deposit divisions, loan portfolios and wealth management, in the four countries’ consumer banking sectors. “We are excited to announce this…

  • Crime

    Huge pyramid scheme and scam uncovered involving 1000s of people | VIDEO

    Tens of thousands of people across Thailand woke up over the past 24 hours that they have been victims of a dodgy online money-making app concocted by the “SPM Shopping Mall” through the website www.shopping.baironghj.com This is roughly how it works… Victims would transfer money to to a Thai account… all online. The app promised returns of up to a…

  • Business

    Draft bill to inspect e-bank transfers over 50,000 baht

    The Deputy Government Spokesman Rachada Dhnadirek says the Cabinet has now approved a draft bill proposed by the Anti-Money Laundering Office (AMLO) to inspect electronic transactions exceeding 50,000 baht, in a move to combat money laundering and financing of terrorists. According to international standards, Thailand has been found lacking on 17 issues in relation to preventing money laundering and the…

  • ASEAN

    Grab creates finance and payments revolution in Southeast Asia

    PHOTO: Grab.com While Southeast Asia’s economy shows huge potential for growth, around 73% of the population still doesn’t have a bank account, severely limiting the upward mobility of both individuals and organisations. Enter Grab, the ride-hailing app, which is introducing a range of financial services in Singapore, including micro-insurance for small to medium sized companies, and post-paid products. Instead of…

  • Business

    “Government stimulus package for Thai economy is unsustainable”

    PHOTO: Wikipedia Anusorn Tamajai, an economist from Rangsit University, says he expects the proposed package to make little difference and has declared it unsustainable. The package, which should be approved this week, is worth 370 billion baht and includes cash handouts for farmers and low-income earners, grants for children, incentives for domestic travelers, and tax incentives for small businesses. It’s…