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Singapore’s Grab set to discontinue GrabPay Card from 1 June

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Singapore-based ride-hailing company Grab is set to discontinue its GrabPay Card, the affiliate card programme of its mobile payments platform, from 1 June 2024.

The programme had been operating in conjunction with the company’s e-wallet offering, GrabPay Wallet, and enabled users to earn GrabRewards when transacting with either their physical or virtual card at select merchant partners.

However, in a statement issued on its website, the company confirmed its plans to discontinue the programme, saying it is observing “much higher adoption and use of other Grab offerings”, namely its PayLater offering launched in 2020, leading to its decision to “concentrate our efforts on refining these products”.

As of 1 April, the company says it is no longer accepting new card applications, and that requests for replacement cards can be filed until 30 April.

After this, the card’s associated rewards programme will be accessible until 31 May. From 1 June, users will no longer be able to transact both online or offline with either their physical or digital GrabPay Card.

The move comes after Grab announced last September that it had decided to axe its retail investment products after deeming them “not commercially viable”, with a similar commitment to direct its attention instead towards more lucrative product avenues.

The company has generated 162% year-on-year growth in revenues from its provision of financial services – a figure that sat at $184 million as per its latest full-year results.

Its discontinuation of the GrabPay Card could be attributed to the rise of GXBank, a Malaysian digital bank born from a joint venture between Grab and Singapore’s Singtel, which began operating in September.

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Featuring its own card programme, the digital bank claims to have accumulated 100,000 depositors in its first two weeks, with 79% of users coming direct from Grab.

Source: fintechfutures.com

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Perigon Wealth Management Enhances Leadership Team to Support Continued Growth

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Perigon Wealth Management, LLC (“Perigon”), a rapidly growing independent wealth management firm with offices across the country and approximately $8.2 billion in client assets as of June 30, 20241, welcomed three key hires to support the firm’s continued expansion through organic growth and acquisitions.

“A decade ago, Perigon had two locations and less than $150 million in assets under management,” said CEO Arthur Ambarik. “We’re now at nearly 20 locations and approximately $8.2 billion. This kind of growth needs additional executive and operational expertise to capitalize on new opportunities, and we’re thrilled to have attracted such incredible talent to our team.”

David Scarpello, Chief Financial Officer
David Scarpello joins as Chief Financial Officer, replacing Chuck Pinson-Rose, who will continue to support the firm on special projects as the Managing Director, Finance and Investment, help ensure a smooth executive transition and dedicate more time to his role as an investment advisor.

“David has more than 30 years of experience supporting a range of forward-looking financial services institutions and wealth management firms, and I look forward to working closely with him as we execute the next phase of our growth strategy,” said Ambarik.

Most recently, Scarpello served as the CFO of Pathstone, a private equity-backed family office and advisory firm for ultra-high-net-worth clients, where he led end-to-end M&A support, financial and accounting practices and strategic financial planning efforts. He has held CFO roles at several financial services and fintech providers, as well as other executive roles.

Scarpello said, “I’ve watched Perigon’s rise from afar and have been incredibly impressed with Art, Chuck and the entire executive team’s approach to the market. I look forward to working to build upon the incredible foundation as we continue to execute into the future.”

Chuck Pinson-Rose, CFA®, has been with Perigon since 2015 and served as its CFO during its rapid expansion. He has been pivotal in developing a dynamic and scalable financial infrastructure for the firm and will continue to lend his expertise to move the firm forward.

The firm also announced it has added two new positions to support the continued strategic expansion of services and M&A activity.

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Brian McGunnigle, Director of Operations
McGunnigle joins Perigon from the Mather Group and brings 25 years of industry experience, having spent the prior 16 years leading operations teams, technology evaluations and implementations, and M&A integrations. McGunnigle will report to Chief Investment Officer Rafia Hasan.

Debra Dunham, Director of Transitions and Integrations
Dunham most recently led and managed integrations for The Colony Group, a wealth management firm based in Boston. She has held several management roles in financial services firms and is active in her local community. She will report to the Head of Advisor Success and Integration Maria Daley.

Perigon is an advisor-led firm that has added teams and offices across six major markets since December 2021. In January, the firm welcomed Constellation Wealth Capital as a strategic investor. Perigon was named one of RIA Channel’s 2022 Top 50 Wealth Managers by Growth in Assets and included on the 2022 Forbes Top RIA list.2 In September 2022, the firm announced a merger with PM Wealth Management LLC, and formed a strategic alliance with Prager Metis CPAs LLC, a tax advisory firm. In November 2022, Perigon announced it acquired Nauset Wealth Management LLC, and expanded its Atlanta office.

The post Perigon Wealth Management Enhances Leadership Team to Support Continued Growth appeared first on HIPTHER Alerts.

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Thunes Wins Big at Pay360 Awards 2024 – Taking Home Three Prestigious Titles

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Thunes, the Smart Superhighway to move money around the world, is thrilled to announce an extraordinary triple win at the 2024 Pay360 Awards in London. These highly respected accolades recognize outstanding contributions to the payments industry, and Thunes is proud to be recognized across three major categories:

  • Best B2B Payments Programme
  • Leading Financial Services or Payments Organisation
  • Best International Payments, Remittance or Use of FX

This achievement highlights Thunes’ unwavering commitment to innovation and excellence in financial services, solidifying our role as a key player in reshaping global payments. The recognition is a testament to the hard work and dedication of our talented team and all Members of Thunes’ Direct Global Network that enable us to move money around the world, with unrivaled speed, control, visibility, protection, and cost efficiencies.

Mathieu Limousi, Chief Marketing Officer at Thunes, commented: “We are incredibly honored to receive these awards, which acknowledge our efforts to continuously expand and deepen our proprietary Direct Global Network, which serves Financial Institutions, Super Apps, Fintech Innovators, Gig Economy Giants and Money Transmitters worldwide. This win reaffirms our belief that the future of payments lies in breaking the barriers of payment interoperability, and we remain committed to driving the industry forward.”

The Pay360 Awards, organized by The Payments Association, is one of the industry’s most anticipated events, celebrating innovation and success within the payments sector. Thunes’ victories across multiple categories highlight its leadership and impact in driving forward-thinking solutions for global payments.

Chloé Mayenobe, President and COO at Thunes, added: “As we celebrate this exciting milestone, we extend our heartfelt thanks to our exceptional team of Thunesters and all Members of Thunes’ Direct Global Network whose passion and collaboration made this achievement possible. Together, we are building the Smart Superhighway to move money around the world.”

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Drofa Comms and CryptoUK Boosting Crypto Education in the UK with New Initiative

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A groundbreaking initiative set to transform crypto education in the UK is to set off. Drofa Comms, a leading PR firm specialising in finance and fintech, in collaboration with CryptoUK, a self-regulatory trade association for the UK cryptoasset industry, is proud to launch an educational initiative, CryptoEdu, aimed at enhancing cryptocurrency awareness in the UK. This initiative represents a crucial step in addressing the need for accessible and comprehensive crypto knowledge for economic development.

The first phase of the project aims to inform the professional community about new trends, rules, regulations, and challenges of the crypto industry. Participants from Zumo, The Crypto Collective, Orbital, Cointelegraph, Coindesk, and Crystal Intelligence were invited to take part in these industry dialogues. These interviews reveal several key insights, such as the complexities of crypto concepts, an urgent need to shift the focus of crypto education from technical details to real-world benefits, and the importance of incorporating formal educational programs and hands-on learning.

Valentina Drofa, co-founder and CEO of Drofa Comms, emphasised the importance of this initiative, saying: “Even though the industry has already made progress in crypto education, it is clear that we now need to significantly boost these efforts. Without proper education of both key stakeholders and the population, the sector will not have a future. Someone has to take the lead in the systematic promotion of education at all levels. My expertise in PR and educational products led Drofa Comms to form CryptoEdu as a joint effort with CryptoUK. We now offer organisations perspectives for crypto education, contributing to both the industry’s maturing and crypto players’ development.

And the launch of the magazine is just the beginning, the project is set to evolve. Webinars and workshops that will serve as platforms for companies to engage in discussions are soon to be introduced. Thought leaders, trade associations, and market players will be further brought to explore the current state of crypto education, address pain points, share personal experiences and advice, and develop improvement strategies.

Drofa Comms aims to provide the industry with a boost in innovation and knowledge, recognising that education should not be a marketing tool but contribute to the growth of the industry.

SOURCE Drofa Comms

The post Drofa Comms and CryptoUK Boosting Crypto Education in the UK with New Initiative appeared first on HIPTHER Alerts.

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