Thursday, November 14

Tag: Wise

T2P Partners with Wise Platform to Enable Global Money Transfers for DeepPocket Users in Thailand
Fintech, Global BFSI, Payments

T2P Partners with Wise Platform to Enable Global Money Transfers for DeepPocket Users in Thailand

Thailand's financial technology landscape continues to witness significant advancements. In a recent development, T2P Co., Ltd., a prominent payment solution provider in Thailand, has announced a strategic partnership with Wise Platform. This collaboration marks a significant milestone for T2P, making it the first fintech company in Thailand to offer international money transfers without exchange rate mark-ups or hidden fees through its popular e-wallet app, DeepPocket. Enhanced Global Money Transfer Options By leveraging the infrastructure provided by Wise Platform, DeepPocket users can now conveniently transfer funds to 16 different currencies, including USD, GBP, EUR, and AUD. The collaboration aims to provide users with swift and transparent cross-border money transfer services. Sea...
Wise Faces Licensing Hurdles: Discontinues E-Wallet Services in Indonesia
Fintech, Global BFSI, Payments, Regtech

Wise Faces Licensing Hurdles: Discontinues E-Wallet Services in Indonesia

In a recent development, Wise, the popular online money transfer service, has announced its decision to discontinue e-wallet services for its users in Indonesia due to licensing Challenges. Effective from May 23, 2024, Wise users in Indonesia will no longer be able to store funds within the app's e-wallet. This decision comes as a result of regulatory requirements, as Wise currently lacks the necessary license to operate as an electronic money provider in Indonesia, as mandated by Bank Indonesia's regulation. Background: Wise's Entry to Indonesian Market Wise entered the Indonesian market in 2020 and has been backed by its local entity, PT Wise Payments Indonesia, which is licensed by Bank Indonesia as a Fund Transfer Provider. While Wise has been successful in providing core remittance ...
Wise: Integration of PayNow and Expansion of Singapore Team, 2024
Fintech, Payments

Wise: Integration of PayNow and Expansion of Singapore Team, 2024

Wise, a renowned global online money transfer service, has recently announced two major milestones: the integration of PayNow, Singapore's local payment network, and the expansion of its team in Singapore. The integration with PayNow allows tourists to conveniently make QR payments to local merchants directly through the Wise app. This development is particularly beneficial for businesses that traditionally do not accept card payments, such as hawkers. Singapore becomes the first country where Wise has connected with two local payment systems. This achievement builds upon Wise's previous integration with the FAST system in 2022, further enhancing its presence in the country. Regional Collaborations: In addition to its expansion in Singapore, it focuses on regional growth by colla...