Retail News CRM

Author: Mei Ling Tan

  • Ooredoo Myanmar and friends launch digital literacy campaign

    Ooredoo Myanmar and friends launch digital literacy campaign

    Ooredoo Myanmar, Facebook and the GSMA have jointly launched a digital literacy campaign to raise awareness and increase adoption of mobile internet in Myanmar. The “Internet 1O1” (Internet One on One) campaign aims to inform and educate first time and new internet users, through one-on-one training at Ooredoo retail points and exclusive stores across the country, particularly in rural areas.

    According to GSMA Intelligence, around 21 Million people are using mobile internet in Myanmar out of a population of 54.1Million people.

    One of the biggest barriers to connectivity is a lack of digital literacy. This initiative aims to guide users through the multiple uses and benefits of the Internet and help them to do so responsibly. Ooredoo Myanmar, Facebook and the GSMA believe that digital literacy initiatives across the countrywill support internet users in Myanmar to use the internet responsibly and be empowered by it.

    Internet 1O1 will be available to consumers in Ooredoo retail stores where in-store promoters will walk consumers through internet education materials including: an easy-to-understand video explaining: Whatthe internet is, how to access it and how to stay safe online as well as showing the type of useful information consumers might need.

    Ooredoo Myanmar’s CEO Mr. Rajeev Sethi said “We are very proud to partner with industry leaders like Facebook and the GSMA in this initiative to educate the people of Myanmar on how to safely be connected, well informed and benefit from the internet. This is the first step of our “Learn with Internet to enrich your digital lives” CSR program. This initiative will enhance Myanmar citizen’s digital lives.”

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  • Battle for HK Retail Customers Begins as HSBC Scraps Fee

    Battle for HK Retail Customers Begins as HSBC Scraps Fee

    As banks in Hong Kong brace for fierce competition from virtual banks, HSBC on Wednesday said it is scrapping minimum balance fees and associated charges.

    HSBC announced on Wednesday that it will scrap the minimum balance fee that applies to its 3 million customers in Hong Kong. From August 1, it will be the first bank in Hong Kong to go back to providing free basic banking services to retail customers who hold its passbook accounts, statement accounts, personal and advance integrated accounts and super ease accounts.

    To reinforce HSBC’s commitment as Hong Kong’s leading bank, it will also waive off associated charges faced by small depositors, like counter transaction fees.

    «More than 3 million retail banking customers will benefit from the removal of our below-balance fees, counter transaction fees and annual fees for most our personal savings accounts,» said Greg Hingston, HSBC’s head of retail banking and wealth management in Hong Kong, who was quoted in «South China Morning Post».

    Introduced 18 years ago, the monthly charge of HK$50 for small depositors with a passbook savings account and other basic accounts with a balance below HK$5,000 (US$640), is seen as a penalty on some of the bank’s most loyal customers.

    The move comes as the Hong Kong Monetary Authority (HKMA) issued eight virtual bank licenses since March. The virtual bank licensees, who operate solely online, are not allowed to charge a minimum balance fee to small depositors. Such zero-cost bank accounts would likely lure millions of customers away from banks who are still charging small depositors.

    The move is likely to be followed by other big lenders as they brace for the intense competition from the virtual banks due to come online later this year. Hang Seng Bank, a unit of HSBC, is also considering a plan to scrap its minimum-balance fee, according to a spokesperson.

    «Banks should draw up their fees structures in accordance with their own corporate strategies, service models and costs,» an HKMA spokesperson said. «However, the HKMA has constantly reminded banks to keep in mind the public’s expectations and needs in basic banking even while they run their banks based on business principles.»

  • Oriental Watch profit steady despite sales drop

    Oriental Watch profit steady despite sales drop

    Oriental Watch’s sales fell by 15.7 percent last year – but the company’s bottom line was only minimally affected, in part due to reduced rents.

    The Hong Kong-listed retailer says that while the number of mainland visitors to the territory recovered last calendar year, the China-US trade dispute had brought uncertainties to the market. Subdued consumer sentiment and currency rate fluctuations had also impacted on sales.

    Chairman Yeung Ming Biu said the company had focused on stringently controlling rent and other costs for the last five years. The group’s aggregate rental cost (excluding related property management fees) decreased by 4.1 percent in the year to March 31 to HK$162 million, accounting for 34 percent of the group’s overall operating expenses – almost one percentage point less than the previous year.

    That result despite relocating the company’s flagship store from 100 Queens Road, Central, to 50 Queens Road, in the heart of the city’s upscale boutiques.

    “The group believes that the change of location will further fuel the brand presence and the sales once it starts operation,” he said. “In addition, regular internal assessment on the performance of all retail stores and closedown of high-rent yet non-performing stores are also the group’s strategy for better resources allocation.”

    Group turnover last year was $2.437 billion, (US$312 million), with gross profit down just 0.7 percent to $603 million and gross profit margin up from 21 percent to 24.7 percent. Profit attributable to shareholders was $138 million, just 0.7 percent less than the prior year.

    Oriental Watch has 61 stores, 46 of them in Mainland China, 11 in Hong Kong, three in China and one in Macau.

    products and purchasing stock only when existing inventory depleted to a pre-agreed level. As at March 31, overall inventory was $824 million, down 17.7 percent from the $1.001 billion of a year earlier.

    “In parallel, the group has also continued to step up its efforts in adjusting and optimizing its brand portfolio, in order to stabilize the group’s overall sales performance and keep abreast of market trends. Oriental Watch will continue to maintain a lower inventory level for a better cash position and a sustainable business development in the future,” said Yeung Ming Biu.

  • Grab explores digital-only banking licence in Singapore

    Grab explores digital-only banking licence in Singapore

    Grab, Southeast Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online-only banks, four people with knowledge of the process said.

    Grab is close to hiring a consultancy to advise it on its banking potential and is gearing up to apply for a digital-only bank licence in Singapore if the banking regulator decides to open up the sector, said the people, who declined to be identified as they were not authorised to speak to the media.

    Singapore-headquartered Grab’s interest in what would be its first foray into banking has not been reported before.

    When asked for a response, the Monetary Authority of Singapore (MAS) referred Reuters to its comments issued last month when it said it was studying the potential for allowing “digital-only banks with non-bank parentage” into its market.

    Hong Kong, Singapore’s fierce financial centre rival, began issuing licences earlier this year.

    A potential entry by Grab – backed by Japan’s SoftBank Group Corp – and others would mark the biggest shake-up in years for a market dominated by DBS Group Holdings Ltd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd.

    The MAS could make a decision in the next couple of months on whether to admit digital-only banks with non-bank parentage, as well as the eligibility applicants, the people said.

    The city-state’s banking regulator is likely to issue only two to three licences in the first phase, two of the people said.

    The interest from Grab underscores how Asia’s non-banking firms are keen to challenge traditional banks by leveraging their technology and their user databases to offer banking services to retail customers and small businesses.

    Securing a digital banking licence in Singapore could help seven-year-old Grab to benefit from its existing data on transport movements, payment transactions and consumer behaviour, the people said.

    Last year, Grab teamed up with Japan’s Credit Saison Co Ltd to provide loans in Southeast Asia.

    Global fintech players are among other groups expected to seek licences in Singapore, with some of them looking to form joint ventures, said two of the people.

    Consultants said a digital banking licence could also appeal to Singapore Telecommunications Ltd (Singtel), which is expanding beyond its traditional carrier services into areas such as mobile payments and cybersecurity.

    “It is too premature to comment but having ventured into mobile financial services, we are open to exploring the feasibility of such an opportunity should it arise,” a Singtel spokeswoman said in an emailed response.

    In Hong Kong, affiliates of Alibaba Group Holding Ltd and Xiaomi Corp, and consortia led by Standard Chartered PLC and BOC Hong Kong Holdings Ltd were among those who won the digital-only banking licences.

    “In Hong Kong, the guidelines were quite precise in terms of what applicants had to prove in order to get a virtual banking licence, more so than in Europe,” said Dan Jones, APAC partner at consultancy Capco Digital.

    “It will be interesting to see whether MAS goes down a similar route to Hong Kong … so that the only people who can apply are established companies, rather than literal start ups.”

    As in Hong Kong, online-only banks in Singapore are also expected to launch by offering services such as savings accounts, personal loans and travel insurance, two of the people said.

  • Indonesian e-commerce site Tokopedia generates record sales

    Indonesian e-commerce site Tokopedia generates record sales

    Tokopedia, an Indonesian e-commerce site backed by SoftBank and Alibaba, said on Wednesday it generated a record $1.3 billion in gross merchandise volume (GMV) during Ramadan sale, amid soaring demand for online retail.

    The company said its biggest sales, recorded on May 17, resulted in a total transaction value that was higher than combined sales from the first six years.

    “Those transactions are happening across 97% of sub-districts in Indonesia and involved 5.9 million sellers,” said Tokopedia founder and CEO William Tanuwijaya.

    The start-up secured $1.1 billion in a funding round in December, led by Japan’s SoftBank Group Vision Fund and Chinese e-commerce giant Alibaba Group Holding Ltd. Sources say Tokopedia is valued at $7 billion.

    Shopping for clothes and gifts during the holy month of Ramadan is a significant part of the culture for Indonesia – the world’s largest Muslim-majority country.

    The Southeast Asian nation of over 260 million people is seen among the most promising global e-commerce markets, buoyed by a younger generation shifting their preference to online shopping.

    The Indonesian internet economy reached $27 billion last year and is poised to grow to $100 billion by 2025, according to Google-Temasek 2018 study.

    However, its logistical challenges are massive. The country’s 17,000 islands are sprinkled across an area bigger than the European Union, with logistical costs swallowing up around a quarter of Indonesia’s gross domestic product.

    Tokopedia’s Ramadan sale success reflects that e-commerce retailers are trying to overcome difficulties faster than expected amid higher usage of smartphones.

    Tanuwijaya told reporters that Tokopedia, which does not have its own inventory, was experimenting with artificial intelligence to predict demand and store stock in advance in partnership with warehouse operators.

    Rivals Bukalapak and Shoppee have not made their Ramadan sales public.

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  • Blockchain Platform Zilliqa Partners Singapore Payments Startup

    Blockchain Platform Zilliqa Partners Singapore Payments Startup

    The partnership will enable Xfers to use Zilliqa’s smart contract functionalities and bring about new innovations to its suite of enterprise solutions.

    Blockchain technology firm Zilliqa is partnering Singapore-based fintech startup Xfers to explore the use of payment solutions powered by distributed ledger technology, the company announced at its Zilliqa Day event on Tuesday, which marked its second anniversary.

    The partnership will allow Xfers to benefit from Zilliqa’s SmartContracts infrastructure, bringing efficiencies in cost, transparency and scalability to its platform, which has over 500,000 users in Southeast Asia, the firm said. Working with Zilliqa will bring about new innovations to Xfers’ suite of enterprise solutions, which includes support for payments, disbursements, regulatory compliance, a built-in digital wallet, and more, the firm added.

    Xfers received an e-wallet license from the Monetary Authority of Singapore (MAS) in March, joining EZ-Link Card, Nets CashCard, Nets FlashPay, and CapitaVoucher as MAS-approved Widely Accepted Stored Value Facility (WASVF) providers.

    The license allows Xfers to hold money on behalf of its users, and gives it an edge over other fintech startups, as user deposits are backed by a bank, which guarantees each dollar it holds.

    Launched in 2015, Xfers processed over $260 million in payments in 2018. It is backed by 500 Startups, Golden Gate Ventures and Facebook co-founder Eduardo Saverin.

    Zilliqa, headquartered in London and Singapore, is a public blockchain platform known for use of sharding as an on-chain solution to preserve decentralization and enable greater scalability. Its blockchain is able to process 2,828 transactions per second.

  • Renault India To Double Sales In India By 2021

    Renault India To Double Sales In India By 2021

    Renault India found success with the Duster and even the Kwid in India and now it’s readying to bring in its compact MPV – the Triber – into India. The Triber too, like the Kwid is based on the CMF-A platform and comes with a heavy dose of local content, so prices will be competitive for sure. But Renault India has grand plans for the Triber and it’s made its intention to export the compact MPV to other markets too and with it help the company improve its sales in India too. In fact, the company is looking to double its sales in the country by 2021 and the Triber will play a big role in making this happen. Thierry Bolloré, CEO, Groupe Renault said, “It’s (The Triber) a significant contributor to the progress we want to make in order to double the sales of Renault in India for sure.”

    The Triber is actually a seven-seater tucked under the four-meter mark. At that size, the new Renault Triber is a direct rival to the Datsun GO+ and also the upcoming compact seven-seater from Maruti Suzuki. It gets a completely different design language from its rivals that help make for a roomier cabin. In fact, Renault is comparing the Triber to a number of B-segment hatchbacks, with the French model offering the additional third-row seating that is more practical. Renault also says the new offering will be 20 percent more affordable in terms of ownership than a conventional B-segment hatch.

    But it’s not just the sales in India that will help Renault achieve this target. The company is banking on exports as well, something it has been doing with the Kwid too. Bolloré said, “Export is key because this is a car made in India, for India and having the genes for a great exporter to other markets.”

    Not everything has worked for Renault in India though. Cars like the Lodgy and the Capture have failed to pick up in terms of sales and establish themselves as strong contenders in their respective categories and Renault isn’t shying away from that reality. Bolloré explains, “The mistakes we have done sometimes, well, we have learned from that. We are quite humble you know, and we know it’s necessary, step-by-step, to understand, and to be better and better for sure, Triber is one key contributor.”

    There will be some other contributors, coming fast after the Triber which will help Renault achieve its set target for 2021.

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  • BMW X7 And BMW 7 Series Facelift Launch Date Revealed

    BMW X7 And BMW 7 Series Facelift Launch Date Revealed

    BMW has announced that it will be launching the new 7 Series facelift and the all-new X7 SUV in India on July 25, 2019. Talking about the new 7 Series facelift, the most apparent of all the design changes is the massive kidney grille which is 40 percent larger than the one on the outgoing model. The headlights still look sleek and go well with the long bonnet which now looks more sculpted and has even gained muscle along with the fenders. The profile looks almost similar to the outgoing model and there have been subtle changes in the design at the rear.

    The new BMW 7 Series will also get a range of engine options including a new 6.0-liter, V12 motor which churns out 592 bhp and 850 Nm of peak torque and will make its way under the hood of the top-end M760 variant. Then there is the 4.4-liter, V8 motor which produces 516 bhp (up 78 bhp) and 750 Nm of peak torque (100 Nm up) and propels the car to 100 kmph in 3.9 seconds. Finally, the most in-demand of the lot will be the 740L which will now be a plug-in hybrid variant. It will get the same 3.0-liter, in-line six-cylinder engine which produces 276 bhp and 450 Nm of peak torque but will be coupled with an electric motor which will add 111 horses more taking the combined power output to 384 bhp.

    The BMW X7 is an all-new model and it will be the new flagship SUV for BMW, positioned above the X5. The BMW X7 is based on the CLAR platform which also underpins its sedan counterpart- the 7 Series and several other BMW models like the 5 Series and new generation X3. BMW is also developing the next-generation X5 on the same platform. Visually, the new X7 takes design quotient a notch higher with that massive kidney grille, slim LED headlamps and muscular bumper with wheel arches.

    Petrol engine options on the 2019 BMW X7 include the 3.0-liter, in-line six-cylinder petrol with 335 bhp and a 4.4-liter, twin-turbo V8 petrol with 456 bhp. There will also be the 3.0-liter six-cylinder diesel with 256 bhp, along with a more powerful 400 bhp version. A plug-in hybrid version is also said to be in the works, while an M badged model is the one we look forward to. All engines use the 8-speed automatic transmission and get all-wheel drive as standard. The system does come with the option to send power only to the rear wheels, while you get BMW’s Dynamic Handling Package and the Off-Road Package. Upon launch, the BMW X7 will be going up against the Mercedes-Benz GLS, Range Rover Sport and the Audi Q7.

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  • Swift Calls for Collaboration on Cross-Border Payments

    Swift Calls for Collaboration on Cross-Border Payments

    Cross-border payments challenges should not be solved with closed loop systems, global payments network Swift said in a call to the payments community, including market infrastructures, banks and fintechs.

    Its white paper, Payments: Looking to the Future,» lays out the financial services firm’s vision of cross-border payments as one that is «seamless and convenient as domestic ones: instant, accessible, ubiquitous, saying the increase in cross-border flows, new technology enabling improvements, and end-customers demanding a better customer experience as changes that are shaping the global payments industry.

    Innovations in domestic retail payments have transformed entire markets, and facilitating the exchange of value beyond tightly knit domestic, single-currency communities is inherently more complex for banks, the paper noted.

    Cooperation by all players in the community is important, because the openness and universality of the envisioned system are unique; the more widely adopted the convention for moving value, the easier the circulation of value – and the more the convention will be used. Banks are key in this, Swift said, asking for the widespread adoption of its global payments innovation (GPI) service.

    According to Swift, API technologies supporting open, agile architectures are supporting the revolution in international payments as they allow fintechs to offer value-add services and banks to differentiate themselves by layering services and products.

    Payments are not an end in themselves – they exist to enable investment, trade and commerce, Swift said.

    Swift launched its GPI service in 2017 to increase the speed, transparency and tracking of cross-border payments. It currently remains optional for banks but its ambition is to create a new standard in cross-border payments, and said it expects it to be the universal standard by 2020.

    In January, it accounted for 55 percent of cross-border payment instructions carried on the network, and about $300 billion in transfers daily.

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  • Tencent launches first overseas video streaming in Thailand

    Tencent launches first overseas video streaming in Thailand

    Chinese tech giant Tencent Holdings Ltd launched its first overseas video streaming service in Thailand on Friday, as it ramps up its presence outside China.

    Tencent is diversifying from its core Chinese gaming business, which has been beset by regulatory problems, pushing revenue growth to its slowest-ever in the first quarter.

    Tencent’s existing Thai user base made the country a good first target for its push into Southeast Asia, said Jeff Han, Senior Vice President of Tencent Penguin Pictures, which produces original content for the streaming business.

    “This is the market we need to first enter to try to see whether an overseas launch could be a success for us, so we can continue the challenge,” Han told reporters in a group interview in Bangkok.

    “We have our priority markets… the Chinese-speaking markets, which will be more receptive to our offerings,” he said.

    In Thailand, Tencent Video will be called WeTV and feature original Chinese content from Tencent Penguin Pictures with Thai dubbing, and content created with local partners, Han said.

    He declined to comment how much the company was investing overseas.

    WeTV adds to Tencent’s music streaming service JOOX and the mobile version of PUBG games in Thailand.

    Tencent’s video streaming subscriptions increased 43% in the first quarter of 2019 on an annual basis, contributing to a growth in digital content revenue, according to its latest results.

    Tencent Video in China claims over 89 million subscribers and more than 200 million daily active users.

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  • Tokopedia enters wedding industry, buying Bridestory

    Tokopedia enters wedding industry, buying Bridestory

    Indonesian e-commerce platform Tokopedia has acquired local wedding-service marketplace Bridestory, which allows users to plan their big day on their smartphones.

    Bridestory targets the Southeast Asian wedding market, connecting couples with venues, organizers and vendors/service providers in the wedding industry. It has reportedly connected more than 3.5 million customers with at least 27,000 wedding vendors annually.

    “It all started with a web application,” said Bridestory CEO Kevin Mintaraga, “then we slowly saw the change in behavior as people became more mobile-centric. We also wanted to help brides to plan their wedding anywhere and anytime with their smartphone”.

    The Tokopedia acquisition includes Bridestory’s new service, Parent story, which help parents and expecting parents connect with age-specific activity providers for their kids.

    Tokopedia has stated that the site will continue to operate independently, while Kevin Mintaraga will join Tokopedia’s management in a VP role.

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  • Apple and Google are the top two most valuable brands in wireless tech

    Apple and Google are the top two most valuable brands in wireless tech

    Quick. Name the most valuable brand name in the world. Apple? nope. Google? That answer is so 2018. According to the 2019 BrandZ Top 100 Most Valuable Global Brands rankings computed by WPP and Kantar, Amazon is the most valuable brand with a value of $315 billion. Since the report considers Amazon to be a retailer, Apple is the leader among tech brands just edging out Google with valuations of $309.5 billion and $309 billion respectively. Google was the most valuable overall brand last year.

    Besides Apple and Google, other wireless giants in the top ten include Microsoft (#4, valued at $251.2 billion), Facebook (#6, $159 billion), and AT&T (#10, $108 billion). The value of Microsoft’s brand rose 25% from last year while more modest gains were seen for Apple (+3%) and Google (+2%). The value of brands in the tech sector rose 4% on an annual basis while telecom providers saw their brands increase by 1%.

    Looking at the remaining names on the list, those with a connection to the wireless industry include Verizon (#11), Xfinity (#20), T-Mobile (#25), China Mobile (#27),  Intel (#36), Samsung (#38), YouTube (#39), Instagram (#44), Adobe (#45), Huawei (#47), Vodafone (#49), LinkedIn (#58), Xiaomi (#74) and HP (#93).

    Xiaomi made the Top 100 for the first time at number 74. The brand is estimated to be worth $19.8 billion. Among the fastest rising brands, Instagram led everyone with a 95% year-over-year increase that took the valuation of the Instagram name to $28.2 billion. Adobe (+57% to $27.9 billion) and LinkedIn (+46% to $22.8 billion) also were among the brands having the largest increase in value from 2018 to 2019.

  • Globe Telecom launches SE Asia’s first 5G broadband service

    Globe Telecom launches SE Asia’s first 5G broadband service

    Philippines’ Globe Telecom Inc on Thursday launched Southeast Asia’s first 5G broadband service, with embattled Huawei Technologies Co Ltd providing the equipment, a win for the Chinese firm despite cybersecurity worries from Western nations.

    The telecoms firm aims to offer high-speed internet to tens of thousands of homes and offices in key urban centres as part of its $1.2 billion capital spending this year, Alberto de Larrazabal, Globe’s chief commercial officer, told reporters.

    Globe would use Huawei’s equipment like radios and modems to deliver 5G quality broadband internet, he added. Huawei and Finland’s Nokia were Globe’s equipment providers for its 4G service.

    The United States had warned that next-generation 5G equipment, which some telecoms experts see as more vulnerable to attack than previous technology, could be exploited by the Chinese government for spying if supplied by Huawei, which the company denies.

    Washington, a treaty ally of Manila, had persuaded governments and telecoms operators to shun Huawei, the world’s largest maker of telecommunications equipment.

    Globe hired independent firms “to ensure that our security protocols are up to date, to make sure privacy and security issues are addressed,” de Larrazabal said.

    Philippine consumers, the world’s top social media users, often get frustrated with slow and choppy internet connections. The Philippines’ mobile internet and fixed broadband speeds lag behind its neighbours, data from Ookla’s Speedtest Global Index showed.

    It ranks 107th among 178 countries in terms of fixed broadband speed at 19.55 megabits per second (Mbps) versus the global average of 59.6 Mbps. Among 140 countries, it ranks 107th in terms of mobile internet speed at 15.10 Mbps, nearly half of the 27.22 Mbps global average.

    Globe is owned by Philippine conglomerate Ayala Corp, with Singapore Telecommunications Ltd holding a minority stake.

  • CIMB Niaga partners Liquid Group to support Bank Indonesia’s QR Code standardisation

    CIMB Niaga partners Liquid Group to support Bank Indonesia’s QR Code standardisation

    PT Bank CIMB Niaga Tbk (“CIMB Niaga”) and Liquid Group today announced a strategic partnership to spearhead cross-border QR payment acceptance between Singapore and Indonesia. The partnership was initiated through their joint participation in Bank Indonesia’s Quick Response Indonesian Standard (QRIS) trial for cross-border payment transactions. The QRIS trial was conducted on May 23, 2019 using the CIMB Niaga’s digital banking product “Go Mobile” carried out at selected merchants located at Terminal 3, Singapore Changi Airport.

    Slated to launch in the 3PrdP quarter of 2019, CIMB Niaga and Liquid Group will enable the acceptance of participating QRIS compliant payment apps and e-wallets at Singapore Changi Airport through Liquid’s integrated QR payments and marketing infrastructure launched back in April this year.

    CIMB Niaga and Liquid Group have successfully completed their proof-of-concept with CIMB Niaga’s Go Mobile application and QRIS compliant payment apps and e-wallets. With the integration of Bank Indonesia’s QRIS code into Liquid Group’s cross-border payments platform, Indonesian travellers will be able to use their preferred local payment apps to make purchases at Changi Airport.

    Furthermore, CIMB Niaga and Liquid Group will be looking at opening the Singapore – Indonesia corridor for QR payments, enabling the acceptance of Singapore’s local payment apps and e-wallets at participating merchants in Indonesia.

    Lani Darmawan, Consumer Banking Director, CIMB Niaga, commented: “We are honoured to be the first bank in Indonesia given the opportunity by Bank Indonesia to conduct a cross-border QRIS payment trial. We believe that this initiative will greatly benefit our customers who can enjoy the ease of transacting abroad, starting with Singapore’s Changi Airport, using our Go Mobile QR app. This also offers a perfect solution to our customers who may not travel aboard with credit cards or large amounts of cash. We see great potential in the adoption of QRIS-supported cross-border payments with an increasing number of people travelling aboard.”

    Lani added:” The Go Mobile application will offer customers an attractive and competitive exchange rate at the point of payment, with the option to draw funds from their savings accounts, e-wallets and credit cards.”

    Jeremy Tan, Chief Executive Officer, Liquid Group, commented: “Accelerating the adoption of QR payments across borders is our key mission and we appreciate the vote of confidence given to us by CIMB Niaga in using Liquid Group’s integrated payments and marketing infrastructure at Changi Airport for their QRIS trial. Further to opening up the Singapore – Hong Kong corridor for QR payments last month, we are thrilled to now offer Indonesian consumers the convenience and benefit of cross-border QR payments starting with those stopping over at Singapore Changi Airport. We look forward to expanding the acceptance of QR payment apps and e-wallets from both Singapore and Indonesia on our cross-border payment platform.”

    Ms Teo Chew Hoon, Group Senior Vice President of Airside Concessions at Changi Airport Group, commented: “We continuously find new ways to elevate the shopping experience for our passengers and make their payment journey a frictionless one.  This collaboration with Liquid Group and CIMB Niaga will make Changi Airport the first retail destination to spearhead the acceptance of cross-border QR payments using Liquid Group’s first-of-its-kind unified QR payment infrastructure.”

    Liquid Group and Joint Electronic Teller Services Limited (“JETCO”) has also announced a strategic partnership to enable cross-border QR payment acceptance in Singapore and Hong Kong earlier in May, a month after the launch of the world’s first integrated QR payments and marketing infrastucture at Changi Airport back in April 2019.

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  • Aston Martin Valhalla To Be Featured In The Upcoming 25th James Bond Movie

    Aston Martin Valhalla To Be Featured In The Upcoming 25th James Bond Movie

    Further extending its deep connection with the James Bond franchise, Aston Martin has recently revealed the carmaker’s new mid-engined hypercar Valhalla will be a part of the upcoming 25th Bond movie, staring actor Daniel Craig. In addition to the recently unveiled Aston Martin Valhalla, the new 007 movie will also feature the classic Series II V8 Vantage and the iconic DB5. While the Vantage was last seen in a Bond film more than 30 years ago when Timothy Dalton drove it in The Living Daylights, the Aston Martin DB5 has been a series regular driven by almost all major 007s. Last time we saw the DB5 was in the 2015 movie Spectre.

    The new Valhalla will be the first mid-engined Aston Martin car to be driven by a James Bond, and only the second among all. Last time a James Bond character drove a mid-engined car was in the1981 movie For Your Eyes Only, and it was Roger Moore driving the Lotus Esprit Turbo.

    As for the Aston Martin Valhalla, the all-new hypercar will be positioned below the company’s flagship, Valkyrie, which is more track-focused, and instead be a more road-friendly usable everyday car. An outcome of the collaboration between Aston Martin and Red Bull Racing, the Valhalla was earlier known as the AM-RB 003. The car uses a carbon fiber monocoque chassis and is powered by a twin-turbocharged V6, assisted by a battery-powered electric hybrid system. The powertrain system is expected to offer a combined power of up 986 bhp. The exhaust system uses dual outlets, which are positioned on top of the car, similar to the Porsche 918 Spyder.

    While we are likely to see a pre-production model in the movie, the new Aston Martin Valhalla is expected to officially enter production in 2021. It is expected to compete with the upcoming successor of the McLaren P1.