eMoney payments set to double by 2025 - News Summed Up

eMoney payments set to double by 2025


PETALING JAYA: The aggregate electronic money (eMoney) payments are expected to double by 2025 in South-East Asia but it may not be sufficient to sustain the provider’s ambitious growth plans. It said the eMoney revenue opportunity for eWallets is not significant enough for financial technology (fintech) companies. In Malaysia, five consortiums have been awarded digital banking licences and they include Axiata’s Boost Holdings Sdn Bhd and RHB Bank Bhd. The others include GXS Bank and Kuok Brothers Sdn Bhd; Sea Ltd and YTL Digital Capital Sdn Bhd, Aeon Financial Service Co Ltd, AEON Credit Service (M) Bhd and MoneyLion Inc, and KAF Investment Bank Sdn Bhd. It said the three technology companies – Sea, Grab and GoTo – plan to control both manufacturing and distribution of financial services.


Source: The Star August 11, 2022 07:32 UTC



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