Singapore 

Man allegedly spent $18,000 with credit card left behind by accident at AXS machine in Yishun, Singapore News

A 29-year-old man suspected of spending more than $18,000 using a credit card that was accidentally left behind at an AXS machine was arrested on Thursday (March 21). The police said in a statement on Thursday that they received a report from the victim that there were several unauthorised transactions made with his missing credit card. Preliminary investigations reveal that the suspect allegedly picked up the victim’s credit card at an AXS machine in Yishun Avenue 2. He then allegedly used the credit card he found to buy several pieces…

Read More
Singapore 

7 things you probably didn’t know about your EZ-Link card, Singapore News

EZ-Link is just like GST. We don’t know how it works exactly, but it’s always there, slowly but surely sucking away our hard-earned money in small, painless increments. It’s time to change that. … Uh, sorry, I didn’t mean the part about being leeched. I meant the part about knowing how EZ-Link works. Being aware of the… unique intricacies of EZ-Link can not only enrich your daily public transport commute, but also potentially help you save a bit of time and/or money. Are you ready? Let’s dive into the world…

Read More
Singapore 

Forgot your ATM card? Here are 3 ways to still withdraw cash in Singapore, Singapore News

It can be frustrating when you need to withdraw cash only to realise that your ATM card was left at home. Instead of borrowing money from your friends or colleagues, here are some ways to get cash without an ATM card. 1. SOCASH soCash is a mobile app service that allows you to withdraw cash from over 1,000 participating shops in Singapore. You have to select a withdrawal amount and the app will list down the nearest cashpoints based on your current location. The minimum and maximum withdrawal amount at…

Read More
Vietnam 

Central bank issues roadmap for ATM card upgrades – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Under a new regulation, commercial banks will have to switch 30 per cent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality. Under Circular 41/2018/TT-NHNN, which will replace Circular 19/2016 as the regulation on bank card operations starting on February 18 this year, commercial banks must increase the ratio of chip cards to at least 60 per cent by 2020. This means…

Read More
Singapore 

Woman arrested for making more than $41,000 of unauthorised credit and debit card transactions, Singapore News

SINGAPORE – A woman was arrested on Friday (Jan 4) for making unauthorised transactions amounting to more than $41,000, said the police in a statement. On Dec 11, 2018, the police received a report from a bank that multiple reports had been made by their clients for unauthorised credit and debit card transactions via the EZ-Link app. Officers from the Commercial Affairs Department established the identity of the 28-year-old woman and arrested her in Upper Changi Road on Friday. The woman is believed to have made more than 1,000 unauthorised…

Read More
Singapore 

Woman arrested after allegedly going on $12k shopping spree with man’s lost credit card, Singapore News

A 24-year-old woman was arrested for allegedly using a credit card belonging to another person to make unauthorised retail purchases amounting to more than $12,000. The victim lodged a police report on Dec 13 and alleged that his credit card was misused for multiple transactions. Preliminary investigations revealed that the victim had lost his credit card. Later, he discovered that more than 200 unauthorised transactions were made using the card between October and December 2018. Officers from the Commercial Affairs Department established the identity of the woman through follow-up investigations…

Read More
Home 

Citic in race with GIC, TPG to buy Singapore smart card maker Jing King, as deal making shifts to Southeast Asia

China’s largest state conglomerate is in a race with Singapore’s sovereign wealth fund and one of the biggest US private equity funds for control of a Singapore-based maker of smart cards, in a sign that investors are shifting their sights to Southeast Asia for better valuations. Citic Capital Partners, the private equity arm of China’s state-run Citic Group – one of the world’s top owners of foreign assets – is in talks to buy a 60 per cent controlling stake in Jing King Tech Group from RRJ Capital, according to…

Read More
Vietnam 

LienVietPostBank and BC Card promote digital banking – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

LienVietPostBank and BC Card – the largest credit card network – in South Korea signed a memorandum of understanding (MoU) on Monday. — VNS Photo Viet Nam News HÀ NỘI — LienVietPostBank and BC Card – the largest credit card network – in South Korea signed a memorandum of understanding (MoU) on Monday in Hà Nội to promote non-cash payment in Việt Nam. Under the agreement, the two sides would invest in a new company providing digital payment with diversified products and services for companies and banks in Việt Nam. They would take advantage of…

Read More
Ecommerce 

Return of the credit card amid mobile-payments crackdown boosts Bank of Communications profit

Bank of Communications, mainland China’s fifth-largest lender, reported a modest increase in profit for the first half of this year as more people used their credit cards amid a crackdown on mobile-phone payment companies. The Shanghai-based lender posted profit of 40.8 billion yuan (US$5.9 billion) between January and June, 4.6 per cent higher than a year ago and in line with analysts’ expectations. “Its results are expected to set a tone for the whole banking sector’s performance for the January to June period,” said Ivan Li, an asset manager with…

Read More