Funding Societies, a Southeast Asian SME digital financing platform which goes by Modalku in Indonesia, today announced that it has raised US$144 million in an oversubscribed Series C+ equity round.

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These past few years have seen the exponential growth of the buy now, pay later (BNPL) arrangements, a trend that’s been fueled by the accelerated digital shift, and the surge

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The consumer finance provider signs first insurance deal with MSIG in Southeast Asia.

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First Oregon legalized psychedelics for medical use, and decriminalized them statewide. Then California and Michigan floated bills to legalize psychedelics statewide as well. Now, it’s Washington offering up a bill that would legalize magic mushrooms throughout the entire state for recreational use. Will the bill go through? It’s exciting that Washington might legalize magic mushrooms, […]

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The CIA has a secret, undisclosed data repository that includes information collected about Americans, two Democrats on the Senate Intelligence Committee said. While neither the agency nor lawmakers would disclose specifics about the data, the senators alleged the CIA had long hidden details about the program from the public and Congress.

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Esports and video live streaming platform VeraEsports has announced a partnership with publisher Riot Games for the 2022 VALORANT Champions Tour (VCT) Asia-Pacific Challengers. As VCT APAC Challengers’ exclusive content platform and esports partner, VeraEsports will receive content from the tournament on its platform. According to the release, this includes match highlights, special features, and […]

Singapore, Feb 11, 2022 - (ACN Newswire) - The year 2021 can be termed as one of "Resurgence". Lives, businesses all saw a resurgence to some extent, even as Covid-19 continued to ravage many economies and livelihoods. If the year 2020 was when organisations began their internal digital transformation journey, in 2021- forward thinking companies turned their attention to integrate and digitalise external business processes.

Digital consumption is now an ingrained way of life in Southeast Asia. Early adopters have expanded usage--pre-pandemic users are consuming four more digital services than they did before 2020 and the 60 million consumers who joined since the pandemic started are here to stay, with nine in 10 consumers who tried a new digital service in 2020 are continued using that service in 2021, according to a Bain, Google & Temasek report.

From mom-and-pop stores who had reservations in adoption e-commerce to larger companies enabling millions of their workforce to work remotely, a positive evolution is underway as companies and their stakeholders find new ways of connecting, collaborating and keeping in pace with their evolving needs.

This massive digitalisation has fuelled the need for data centres. The data center market in Southeast Asia is growing significantly, with multiple investments in Singapore, Indonesia, Malaysia, Vietnam, Philippines and Thailand. Southeast Asia is among the fastest-growing digital markets worldwide. The internet usage and social media trends have increased the demand for faster internet networks and data centers to store data generated by them.

The internet penetration is one of the strongest drivers for the data center market in Southeast Asia. Moreover, social media usage among consumers and digital transformation by enterprises across industry verticals are other major factors promoting data center growth. The investments are growing significantly across Singapore, Indonesia, Malaysia, Vietnam, Cambodia, and Thailand. In 2020, Equinix, Digital Realty, NTT Global Data Centers, Space DC & GIC, ST Telemedia Global Data Centres, DTP, and DCI Indonesia were major investors in the Southeast Asia data center market.

Looking ahead to 2022 and beyond, new questions arise as millions of users from Brisbane to Batam embrace IoT, AI, and 5G. How can we store this data sustainably? Are there vulnerabilities in endpoint security still to account for? How can SME's leverage cloud technology as effectively as enterprises?

Simply put, it is time to get together and talk about the future of the Cloud & IT industries in this region. And so, W.Media has come back with Digital Week: Southeast Asia, after a hugely successful 2021 edition.

The 2nd Edition of Digital Week with an enhanced Hybrid format brings the best knowledge sharing and quality networking experience in South East Asia.

Our SEA Digital Week 2022 is back on the 9th-11th March with a hybrid style that combines both an insightful digital experience with global speakers and valuable in-person networking opportunities that we've been missing during the pandemic. As part of our upcoming Digital Week, we will focus on the markets of Southeast Asia where they will highlight different market insights and trends of the cloud, data center and the IT industry, as well as discuss with the experts about the current updates of this ecosystem.

Experience the best of both worlds - choose to participate in either the digital or on site events or even both! Anticipate a return of 2500+ Cloud and Datacenter professionals across the region online and on site.

For more information, visit https://w.media/sea-digital-week-2022/.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe year 2021 can be termed as one of "Resurgence". Lives, businesses all saw a resurgence to some extent, even as Covid-19 continued to ravage many economies and livelihoods

You can finally buy plane tickets with Bitcoin. Visit BitPay.com to learn how to buy airline tickets directly from your crypto wallet, with the BitPay Card or through travel gift cards.

Vietnam’s retail investment app Infina announced they have closed US$6 million in seed funding from Sequoia Capital India’s Surge, Y Combinator, Saison Capital, Starling Ventures, Alpha JWC, and AppWorks. Infina

The post Vietnam’s Retail Investment App Infina Bags US$6 Million in Seed Funding appeared first on Fintech Singapore.

HONG KONG, Feb 9, 2022 - (ACN Newswire) - Recently, XanPay announced a partnership with SWAG, a leading online entertainment interactive brand, to launch new alternative payment methods. Online entertainment experienced exponential growth during the pandemic. According to a related report, the worldwide traffic of online entertainment has grown substantially during the COVID-19 period. The increasing number of people working from home and restrictive social distancing measures has made online entertainment avenues extremely popular.

SWAG gained the upper hand against its competitors during this period partnering with a payment gateway specialized in alternative payment methods, XanPay.

Challenges of Online Entertainment Platforms in High-Risk Industry

SWAG is one of Asia's largest online entertainment interactive brands. The Taiwan-based company started in 2017 with a team of 80 employees. They have come a long way to establish themselves as the leader in the region.

For those who are unfamiliar, there are major challenges and taboos that the alternative online entertainment space constantly faced for decades:

• Many financial institutions (FIs) consider merchants in this industry as 'high-risk'
• 'High-risk' merchants faced extreme scrutiny and long approval lead times
• Payment gateways that are accepting of these merchants usually charged exorbitant fees, sometimes nearly 20%
• Unnecessary and tedious paperwork and processes
• Perceived as risky business due to the high possibility of high chargeback

It wasn't any different for SWAG and they encountered many such obstacles over the years, but they continued to look for solutions that support the online entertainment content creator industry. Research shows that local payment methods or alternative payment methods (APMs) are 3x more popular than credit cards across APAC.

So, they began to look for local payment gateways which provided alternative payment methods (APMs) across Asia. However, issues like poor API integration documentation and having payment gateways that disappeared without response - made it difficult for them to break into new markets.

Reliable Payment Gateway in the APAC Region

When OnlyFans announced an official ban, the SWAG team onboarded many of the online entertainment content creators. They were determined to provide a reputable source of entertainment as well as income to their content creators.

After getting to know about XanPay, SWAG integrated and went live with new payment options within a week. Immediately, they observed payment adoption from across 8 new countries. Singapore, Malaysia and Hong Kong became their biggest markets in this region. Additionally, the number of payment issues reported by users had also drastically reduced.

Since then, XanPay accounts for up to 90% of their payment transactions in the new markets that they expanded to.

Key Highlights

• Generated revenue from 8 new Asian countries within a month of integration
• About 50% of the transactions are from XanPay vs non-XanPay
• Grew their revenue and transaction volume by 5% within 3 months of integration
• of payment issues reported by users drastically reduced
• Ability to focus on bigger marketing and expansion plans
• Acquired new users with XanPay processing up to 90% of the transaction volume in SEA

Quote section

"XanPay is our one-stop payment gateway in Asia. They solved our pain points. Not only are we able to reach new users and markets, but our alternative payments in the SEA region are also now managed by them, which is amazing." - Allan Lei, CTO of SWAG

Payments, Streamlined

XanPay has become their one-stop payment gateway solution using the full checkout page option. By getting the right payment gateway, the SWAG team gets to focus their efforts on bigger business plans.

SWAG now aimed to deepen its reach into Vietnam, Thailand and Indonesia.

About XanPay

XanPay is a unique payment gateway specialized in serving global customers locally. XanPay partners with organizations and small businesses to scale quickly and achieve outcomes through modern cross-border payment solutions. For XanPay, modern means widely adopted, seamless, convenient and secure. As a fast-growing payments company, XanPay built connections across 490 local banks in over 10 countries, enabling any businesses in the ecosystem to accept easy payments competitively. Shaping the next-generation payments landscape by bringing greater financial access.

For more information, visit
LinkedIn: https://www.linkedin.com/company/xanpay/
Facebook: https://www.facebook.com/XanPayOfficial
YouTube: https://www.youtube.com/channel/UCOmtkZ6cwwamzmQ_iViuzeA
Website: https://xanpay.com/

Media Queries
Carrine Eng, Marketing & PR Manager
Email: marketing@xanpay.com

SOURCE: XanPay

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

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Over the past few years, digital financial services have seen greater adoption in Cambodia, a trend that was accelerated by the COVID-19 pandemic and the social distancing measures put in

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