The initiative aims to develop green financing, as well as improving access to financial products and services for the country’s micro, small and medium enterprises.

Online payments have been slow to take off in the Philippines, where cash has long been king.

The SG$6 million ($3.44 million) grant can be used by local fintech companies to cover their daily working capital expenses and finance new product development work with financial institutions.

As the growing pandemic continues to plunder on, the Singapore Fintech Association (SFA) and Razer have teamed up to provide financial assistance to local Singaporean fintech companies.

The temporary suspension of microfinance activities aligns with government efforts to prevent the spread of COVID-19 through mass gatherings and close contact.

With many Cambodians out of work, COVID-19 is also throwing another problem into sharp relief: that of precariously high microfinance debt.

Oriente will use the money to boost its growth in existing markets and further new developments in places like Vietnam. 

TechSprint initiative will support the regulatory and supervisory responses against the COVID-19 pandemic.

The partnership aims to address key issues facing the industry, including business continuity, lack of funding, and brand awareness.

As contactless payments become the norm amid the worldwide pandemic response, China rolled out its digital currency this month in four cities, setting it up to become the world’s first cashless society.