Fintech PR
UnionPay International Signs MOU with Cambodia’s Central Bank
Cambodian visitors to China can make UnionPay QR payments with e-wallets from home
SHANGHAI, July 10, 2023 /PRNewswire/ — Today, UnionPay International (UPI) and the National Bank of Cambodia signed a Memorandum of Understanding in Phnom Penh, Cambodia’s capital. Both parties agree to promote QR code interoperability to better support the residents of both countries in cross-border mobile payment . With this collaboration, Cambodian residents can make payments with e-wallets from their home country in UnionPay’s global QR network which includes China, satisfying their need for mobile payment when they visit China or elsewhere. UnionPay payment information will be integrated into the Cambodian QR so that local QR merchants may also take payments from the UnionPay App and Chinese-mainland banking apps connected to the UnionPay App Network Payment Platform.
With acceptance by more than 90% of merchants in Cambodia, and hundreds of thousands of cards issued by major local banks such as ABA, ACLEDA and Canadia, UnionPay has become a payment tool favored by the residents in the country. In today’s MOU, UPI and the central bank of Cambodia agree to integrate UnionPay mobile payment services into the e-wallets of Bakong, Cambodia’s national mobile payment system. In the future, Cambodian residents can simply use Bakong members’ payment apps for easy payments in Cambodia, China and for cross-border purchases.
The two parties also agree to jointly promote the integration of UnionPay payment info into Cambodia’s national QR known as KHQR, so as to enable acceptance of UnionPay-powered wallets at KHQR merchants. Developed with the support of the National Bank of Cambodia, KHQR has achieved full acceptance coverage in the country. The enablement of UnionPay QR will significantly improve the mobile payment experience of UnionPay cardholders visiting Cambodia.
In recent years, UPI has stepped up efforts in business localization and digitization in order to offer quality payment services to more customers outside China’s mainland. At present, more than 200 million UnionPay cards have been issued in 78 countries and regions outside China’s mainland, and these cards can be used on almost all POS terminals and ATMs in China’s mainland. In line with the changes in consumer payment habits, more than 170 UnionPay-standard e-wallets have been rolled out in 30+ overseas countries and regions. International cardholders can make QR or NFC payments in China’s mainland directly with tools they know well, without the need for a new bank account or a new app.
With the gradual recovery of cross-border traffic, UPI has also been in full collaborations with QR code networks in South Korea, Sri Lanka, Vietnam, Malaysia and more through innovative solutions such as network linkage and payment integration, enabling mutual acceptance. These collaborations allow Chinese tourists to pay with UnionPay wallets at QR merchants in these countries, and at the same time enable speedy acceptance of international wallets at global UnionPay QR merchants, significantly improving payment experience for visitors to China and the rest of the world.
Photo – https://mma.prnewswire.com/media/2150337/photo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/unionpay-international-signs-mou-with-cambodias-central-bank-301872849.html
View original content:
GENEVA, Nov. 4, 2024 /PRNewswire/ — Swiss private banking group CBH Compagnie Bancaire Helvétique announces the appointment of Enid Yip as the new CEO of its subsidiary CBH Asia. Mrs Yip will also lead the Asia Regional Committee. Based in Hong Kong, CBH Asia is a key part of the Group’s strategic commitment to expand its presence in the region.
Concurrently, Patrick Wong, who has overseen the Asia business since 2017, has been appointed Deputy Chief Executive Officer. Mr Wong will continue to manage Operations, Regulatory and Compliance, and IT, while Mrs Yip will focus on enhancing the firm’s client offering and driving business development in line with the Group’s long-term strategy for Asia. With its entrepreneurial approach and exclusive and bespoke investment offering, CBH Asia offers compelling advantages to clients and relationship managers in the region.
A seasoned executive, Mrs Yip brings over 25 years of experience in successfully growing wealth management institutions in Asia. Most recently she was with LGT. Prior to that, she was a Member of the Board at Bank J. Safra Sarasin, having previously served as their Chief Executive Officer, Asia, overseeing the bank’s expansion in the region. Earlier in her career, Mrs Yip held various senior positions in the private banking industry.
Simon Benhamou, CBH Bank Chief Executive Officer said: “We are delighted to welcome someone of Enid’s calibre to lead CBH Asia. Her extensive experience and strong leadership will be instrumental in furthering our growth in key Asian markets. Our people are our greatest asset and with Enid’s strong commitment to our core values of entrepreneurship and teamwork, we are confident that she will further strengthen CBH Asia’s success. We extend our best wishes to Enid on her appointment.”
Mrs Yip said: “I am delighted to be joining a Group that fosters an environment where we can achieve great results by pursuing excellence with creativity. I am determined to expand CBH’s footprint in the region, building on our established expertise and maintaining our long-term vision of adding value for both clients and stakeholders.”
About CBH | Compagnie Bancaire Helvétique
CBH Compagnie Bancaire Helvétique is a family-owned Swiss banking group founded in 1975. Headquartered in Geneva, the Group currently counts close to 309 professionals in 10 locations around the world. As of December 31st, 2023 client assets totaled CHF 14.3 billion and the Group’s Tier 1 ratio was 43%, placing it among the best capitalized banks in Switzerland compared to its peers.
CBH Group provides wealth management services to private and institutional clients, as well as several complementary business lines, including family office solutions, asset services & structuring, exclusive private markets expertise, and bespoke daily banking and card solutions.
Photo – https://mma.prnewswire.com/media/2548457/CBH_Enid_Yip.jpg
Logo – https://mma.prnewswire.com/media/2186498/5006282/CBH_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/cbh-compagnie-bancaire-helvetique-appoints-enid-yip-as-ceo-of-cbh-asia-302295620.html
The November editions of FinTech Magazine & InsurTech Digital includes interviews with leading experts and executives from
LONDON, Nov. 4, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has released the latest editions of FinTech Magazine and InsurTech Digital These publications are highly regarded by voices within the Financial Sector for their in-depth reports and interviews with prominent figures in the industry.
FinTech Magazine
This month’s edition features an exclusive lead interview with Lloyds Banking Group CIO, Amit Thawani as it undertakes a huge transformation to meet its 27 million customers evolving needs.
“At Lloyds Banking Group it’s all about people. Our people can make a real difference to the UK population who are not prepared for their tomorrow “
The edition also contains extensive interviews with key thought leaders from Coupa, TerraPay and more. Plus the Top 10: Largest Firms involved in Financial Services,
You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.
InsurTech Digital
This month’s edition features an exclusive lead interview with Qover CEO Quentin Colmant on how AI will ‘reshape how we create value’
“Each decision has felt monumental, with no guaranteed outcomes, but this unpredictability has been incredibly rewarding”
The edition also contains extensive interviews with key thought leaders from Lloyds Banking Group, Kin Insurance and more. Plus the Top 10: Insurance Products of 2024
You can visit InsurTech Digital for daily news and analysis of the ever-changing financial industry.
About BizClik
BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.
BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.
For more information, please visit our website.
View original content:https://www.prnewswire.co.uk/news-releases/bizclik-media-launches-november-editions-of-fintech-magazine–insurtech-digital-302295572.html
PARIS, Nov. 4, 2024 /PRNewswire/ — Dechert has advised Poxel (Euronext: POXEL), a clinical-stage biopharmaceutical company, on its non-dilutive financing agreement with OrbiMed for US$50 million. This transaction monetizes a portion of Poxel’s future royalties and sales-based payments from TWYMEEG® sales by Sumitomo Pharma in Japan.
The financing is set to bolster Poxel’s strategic initiatives in rare diseases, reduce its debt and support general corporate purposes. The deal underscores the significant value of TWYMEEG® in Japan and strengthens Poxel’s financial position.
Poxel is listed on Euronext Paris, developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders. OrbiMed is a leading healthcare investment firm dedicated to accelerating innovation in the biopharmaceutical industry.
The Dechert team that advised Poxel includes corporate and securities partners Patrick Lyons and David Rosenthal; global finance partner Privat Vigand; intellectual property partner Olivia Bernardeau-Paupe; global finance partner Sarah Milam; tax partner Sabina Comis; and associates Etienne Bimbeau, Pierre-Emmanuel Floc’h, Chloe Lebret, Julie Lecomte, Vianney Toulouse and Yasmin Yavari.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
View original content:https://www.prnewswire.co.uk/news-releases/dechert-advises-poxel-on-us50-million-non-dilutive-financing-agreement-with-orbimed-302295559.html
-
Fintech7 days agoFintech Pulse: Today’s Key Industry Developments, Appointments, and Regulatory Challenges
-
Fintech4 days agoFintech Pulse: Your Daily Industry Brief – Breaking Trends and Insights in Fintech
-
Fintech5 days agoFintech Pulse: A Snapshot of Global Expansion, Regulatory Moves, and Transformative Tech in Fintech
-
Fintech PR5 days agoThe Rise of Insurance Third Party Administrator Market: A $544.67 Billion Industry Dominated by Tech Giants – Sedgwick, Crawford and Company and CorVel Corp | The Insight Partners
-
Fintech PR5 days agoMinisters and Global Executives to Converge at the Second Edition of Gateway Gulf in Bahrain
-
Fintech PR2 days agoCCTV+: From Silk Road Gateway to Global Innovation Hub: Xi’an Advances Industrial Upgrades and International Cooperation
-
Fintech PR4 days agoXinhua Silk Road: Financial co-op for global common dev’t under spotlight at forum held in E. China’s Shanghai Jing’an
-
Fintech PR3 days agoHitting Milestones, Coinstar and BBC Children in Need Celebrate Together with £1.6 Million in Donations