Trio AI, a Hong Kong-based AI infrastructure service provider, has signed a MouU with AbbyPay, a POS-free digital payment brand under The Payment Cards Group Limited (PCG), on 26 November, marking the start of their strategic partnership to integrate AI into payment processing. Trio AI provides secure, scalable AI computing platforms that support end-to-end model applications. PCG operates Asia’s first cloud-based processing and settlement platform and holds principal memberships with major card schemes and e-wallet networks. The partnership aims to combine Trio AI’s AI capabilities with AbbyPay’s payment infrastructure to develop intelligent solutions for payment security, efficiency, and operational optimisation.…

Global investors continue to look toward Asia for diversification and long-term opportunity, even as geopolitical noise and shifting trade dynamics create uncertainty. Two financial hubs stand out in this landscape: Hong Kong and Singapore. Each delivers resilience in different ways, and recent analysis showing Hong Kong ranking second in Asia for economic resilience to global tariff shocks reinforces why both markets still matter for international capital flows. Together, they form the region’s most strategic access points for investment, liquidity, and cross-border finance. Hong Kong’s Role in Global Investment Hong Kong’s position as a financial hub rests on a deep capital…

KPay now allows its Hong Kong merchants to accept in-person contactless payments using Tap to Pay on iPhone. The feature enables businesses to take contactless credit and debit cards, Apple Pay, and other digital wallets directly through an iPhone running the KPay iOS app, without additional hardware. At checkout, merchants prompt customers to place their contactless payment method near the merchant’s iPhone, with transactions completed through NFC technology. Tap to Pay on iPhone also supports PIN entry, including accessibility options. The feature uses the iPhone’s built-in security measures to protect business and customer information. Apple does not store card numbers…

Licensed crypto exchange HashKey Group is intending to raise as much as HK$1.67 billion in its Hong Kong initial public offering (IPO), according to a recent Reuters report. The company is offering 240.6 million shares at a price range of HK$5.95 to HK$6.95 per share. Final pricing is scheduled for 16 December 2025. The shares are expected to debut on the Hong Kong exchange the following day. HashKey Group’s operations comprise trading, venture investment, and asset management businesses across Hong Kong and Singapore. Earlier this year, Gaorong Ventures, known for backing Chinese internet leaders like Meituan and PDD Holdings, invested…

Endowus, an independent wealth advisor and investment platform in Asia, has launched its Income Enhanced Portfolio, available to professional and accredited investors in Hong Kong and Singapore. The portfolio is designed to provide diversified income solutions, drawing on a broader range of opportunities to manage risk and potentially enhance returns. As global interest rates begin to ease and yields on traditional income products decline, investors are seeking reliable income without excessive concentration risk. The Income Enhanced Portfolio offers two approaches: Conservative and Aggressive. The Income Enhanced Conservative strategy aims for reliable income with a focus on capital preservation. It combines…

Citi and PAObank have partnered to enable PAObank to offer a real-time foreign exchange (FX) service for its retail customers. The service allows transactions in Hong Kong dollars, US dollars, and Renminbi on a 24/7 basis, with plans to extend it to additional currencies. While the service is supported by Citi’s platform, it is provided directly by PAObank to its end customers. Through Citi’s FX API (Application Programming Interface), PAObank can allow retail customers to conduct FX transactions via its Mobile Banking App. The system fully automates the process, debiting and crediting customer accounts in real time. Citi’s FX API…

Aspire, an all-in-one finance platform for businesses, has introduced fast, low-cost international payments in Hong Kong. Wise Platform, Wise’s global payment infrastructure for banks and enterprises, powers the feature. It allows customers to send money in over 40 currencies. This includes transfers to Singapore, the US, Australia, Japan and Korea. All transactions can be made directly from the Aspire platform. Building on a partnership that began in Singapore in 2019, Aspire is extending its Wise Platform-powered cross-border payments to Hong Kong. The integration enables transfers at lower cost within the same interface used for payments, cards, and expense management. “Cross-border…

Alipay+ reported an 18% increase in supported QR code payment transactions. Total payment volume (TPV) in South Korea rose 16% year-on-year, driven by tourists using partner wallets and bank apps for services ranging from beauty treatments and transportation to food and beverages. South Korea remains a key destination for travellers from Southeast Asia and the Chinese mainland. The highest Alipay+ transaction activity was recorded in Seoul, Jeju Island and Busan. In 2025, beauty clinics, transportation and F&B were among the fastest-growing categories. Beyond Chinese mainland visitors, the largest users of Alipay+-supported transactions in South Korea included tourists from Hong Kong,…

The way we pay has changed more in the past five years than in the previous fifty. But as real-time payments become the global standard, the industry is entering a new phase. In this interview, Fintech News Network’s Vincent Fong sits down with Hasan Khan, Business Head for Cards & Unsecured Lending at Trust Bank, to unpack what The Next Chapter in Payments looks like. They discuss why the industry’s obsession with “speed” is shifting toward “strategic friction” to combat the $4 billion lost to scams in Singapore. Hasan also reveals how Trust Bank utilizes cloud-native infrastructure to achieve the…

SoéPay now enables its Hong Kong merchants to accept in-person contactless payments through Tap to Pay on iPhone. The feature supports contactless credit and debit cards, Apple Pay, and other digital wallets, using only an iPhone and the “SoéPay – Tap to Pay” iOS app. No additional payment terminal or hardware is required. At checkout, merchants prompt customers to hold a contactless card or device near the merchant’s iPhone, with payments completed through NFC technology. Tap to Pay on iPhone also supports PIN entry, including accessibility options. The system relies on iPhone’s built-in security features to protect business and customer…

The South Korean government plans to impose bank-level, no-fault compensation rules on cryptocurrency exchanges. The move follows a recent breach at Upbit and longstanding gaps in the country’s digital-asset regulation. The shift aims to place major exchanges under the same scrutiny applied to traditional financial institutions, The Korea Times reported. The Financial Services Commission (FSC) is reviewing provisions that would require virtual-asset service providers to compensate users for losses caused by hacking or system failures, regardless of fault. This standard currently applies only to banks and electronic payment firms under electronic financial transaction laws. The move follows a 27 November…

Insurtech Insights Asia 2025, a major regional forum for insurance technology stakeholders, concluded on Friday (5 December) at the Kerry Hotel in Hong Kong. The two-day conference focused on accelerating AI adoption and broadening access to insurance across Asia. It drew more than 5,000 delegates and featured over 300 speakers. Day one opened with a keynote by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. He said: “With the highest insurance density in Asia and penetration exceeding 18%, Hong Kong is uniquely positioned. We must use this fundamental strength as a launchpad to drive innovation and…

To provide further assistance to those affected by the Tai Po fire, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) met with 28 retail banks on 4 December, including digital banks, on 4 December. They reviewed the effectiveness of emergency measures already in place and discussed additional support initiatives. “The banking industry remains committed to offering timely and appropriate assistance to affected individuals in an empathetic and flexible manner,” the HKMA and HKAB said. As part of the six emergency measures introduced on 28 November, banks have set up dedicated 24-hour hotlines and provided…

Macau Pass, in partnership with Alipay, launched its MPay Tap! service across Macao on 1 December, offering a “tap to pay” option for residents. The service aims to simplify mobile payments, support retail transactions, and assist merchants in adopting digital tools. Alipay first introduced Tap! in Mainland China in July 2024. The service uses near-field communication (NFC) and barcode technologies, allowing users to pay by tapping an unlocked phone on the terminal, without opening the app. In just over a year, Tap! reached more than 200 million users across over 400 cities, covering 5,000 brands and millions of outlets. MPay Tap!…

UnionPay International (UPI) and the National Payment Corporation of Vietnam (NAPAS) have launched a pilot programme for cross-border QR payments between China and Vietnam. The initiative aims to improve mobile payment options for Chinese visitors in Vietnam and strengthen links between the two countries. The pilot builds on earlier agreements. In October 2024, UPI and NAPAS signed a Memorandum of Understanding on cross-border payment cooperation. Leaders from both governments witnessed the signing. In April 2025, UPI, NAPAS, the Industrial and Commercial Bank of China (ICBC), and Vietcombank signed a four-party agreement in Hanoi. The deal confirmed their plan to introduce…

From navigating ‘irrational’ market incentives to achieving operational profitability, DANA CEO Vince Iswara breaks down the contrarian strategies behind scaling Indonesia’s leading digital wallet to 200 million users. He reveals the critical pivot from high-burn growth to sustainable unit economics and why maintaining an ‘underdog’ mindset was essential for survival.

RedotPay has partnered with Ripple to expand its stablecoin payment capabilities. Concurrently, RedotPay is launching its “Send Crypto, Receive NGN” feature and extending multi-market payouts via Ripple’s cross-border payment solution, Ripple Payments. The new feature allows verified users with local bank accounts to convert digital assets into Nigerian naira (NGN), providing faster and lower-cost payouts. “Delivering near‑instant, cost-effective NGN payouts is a significant milestone,” said Michael Gao, CEO and Co‑Founder of RedotPay. “RedotPay is building stablecoin-powered payments that make digital assets as easy to use as local currency, where users can send XRP or stablecoins securely and receive NGN within…

South Korea’s NH NongHyup Bank has completed a pilot of blockchain-based cross-border payments using Partior’s blockchain platform. In the pilot, J.P. Morgan acted as both the beneficiary and settlement bank. Partior’s blockchain solutions, already in commercial use by banks including J.P. Morgan, DBS, Standard Chartered, and Deutsche Bank, are designed to integrate with core banking systems, providing continuous, real-time settlement capabilities. This pilot represents the first instance in Korea where a financial institution has tested a blockchain payment network already used commercially by leading global banks. NH NongHyup Bank carried out transactions reflecting realistic cross-border payment and foreign currency liquidity…

The Greater Bay Area (GBA) in China is rapidly establishing itself as a leading global hub for economic integration, technological advancement, and innovation. With a projected GDP of US$4 trillion by 2030 and accounting for a significant portion of China’s exports and imports, the GBA is poised to rival major economic regions like San Francisco and Tokyo Bay. This growth is fueled by robust infrastructure, proactive government support, and the adoption of groundbreaking technologies such as artificial intelligence (AI) and machine learning. Businesses operating in the GBA are focused on enhancing supply chain resilience and tapping into lucrative ASEAN markets.…

OSL Group has secured approval to launch stablecoin payment services for wholesale clients in Australia as the country moves toward stricter oversight of digital assets. The development comes as Australia works to introduce a formal licensing regime that would bring custody, exchange and related crypto activities under clearer regulation. The company said the approval supports its plan to expand regulated digital asset payment services in key international markets. OSL provides brokerage, exchange and custody services and operates as a licensed virtual asset platform in Hong Kong. It is authorised by the Securities and Futures Commission to conduct Type 1 securities…