Payments Research

Jan

WeChat Pay gets the green light to operate in Indonesia

The Indonesian central bank has approved WeChat Pay to operate in Southeast Asia’s largest economy following a lengthy review period. WeChat Pay previously had been accepted at some Indonesian points of sale, but was not considered a legal form of payment. Bank Indonesia said in a statement that it granted…

Jan

Asia Payments Research

Thai fintech Lightnet raises US$31.2 million in Series A funding round

The private-equity unit of United Overseas Bank has co-led a US$31.2 million Series A funding round for the Thai fintech start-up Lightnet along with South Korea’s Hanwha Investment and Securities and Japan’s Seven Bank. Other investors included Singapore’s Hopeshine Ventures, Signum Capital and Du Capital as well as Taiwan-based Uni-President…

Jan

China Payments Research

Will AmEx soon start operations in China?

American Express has been trying to enter the China market since before the 2008 Beijing Summer Olympics. As China’s financial reform stalled, so did the US card giant’s prospects in the world’s largest consumer market. Now that Washington and Beijing have reached a phase-one trade deal, AmEx is finally poised…

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