Open vs Close-Loop Mobile Payments Which is Better?

Mobile wallets have shifted the way we pay for goods and services.  In Singapore alone, mobile payments growth rose from 34% in 2018 to 46% in 2019, based on a global survey published by PricewaterhouseCoopers. But not all mobile payments are equal. Close-Loop payment systemA close-loop mobile payment method allows consumers to pre-load funds into a […]

10 Essential Metrics for Your eCommerce Business

With the rapid growth of the global digital commerce market, it is becoming increasingly important for businesses to be understand exactly how their customers interact and buy. Such data can be a key factor in optimizing business direction and hence determining the success of the business. Without understanding the data, it is challenging for the […]

9 Best Ecommerce Platforms Compared And Rated In Singapore 2021

The Covid-19 phenomenon has been a transforming force in global retail by redefining consumer trends and introducing new dimensions to business. Social distance limitations have led to a broader consumer shift towards digital shopping platforms as the optimal avenue to order their desired products. For business owners across Singapore, these key insights and a change […]

Payment Methods in China: How China Became A Mobile-First Nation

China has emerged as a global leader in commerce and technological growth over the course of the past decade. The country has made monumental progress in digital access by enhancing smartphone access to a wide majority of its population. Digital payments have been a cornerstone of the financial movements across the country, with all consumer […]

SME Challenges in Cross Border Payments

In the past few years, SME defined as Small and Medium-sized Enterprises (generally defined as companies with annual turnover <$100m, or employ <200 workers) are thriving despite the existence of global giants. The SME market contributes to 48% of Singapore’s GDP, employing about 65% of its workforce and constituting 99% of all its enterprises. In […]

Reasons Virtual Cards Are Better Than Physical Cards

Payments made using virtual credit cards in Singapore are becoming increasingly popular. Because of this, availing of virtual cards is an excellent idea if you’re a business owner.There are many advantages to using virtual cards over physical cards, ranging from convenience to better security.With that said, continue reading on to learn more about virtual cards […]

CCY Conversion Fee: All You Need to Know

Most of the time, the terms ‘cross currency (CCY) conversion fee’ and ‘foreign transaction fee’ are used interchangeably. However, they are not the same. The CCY conversion fee is charged by the credit card payment processor when you purchase or make transactions in a foreign country using your home currency debit or credit card. A foreign […]

Why a payment strategy is vital for SMEs

Does your company have a robust payment strategy? If not, now is the time to get down to developing one. Let us explain why. As an SME, you would typically have a detailed strategy for sales, marketing, growth, and even expansion. But how about your business’ payment strategy? Accounts payable is good as it needs little […]

The Pros and Cons of China’s Digital Currency

In the last decade, the world witnessed a rapid transformation of money. It is now available in an electronic and even virtual form. From a physical form ranging from digital payments, mobile wallets, cryptocurrencies, and the latest on the list is ‘digital currency.’ 86% of the countries from the US to Japan are exploring this […]