SUBSCRIBERS

TransferWise rolls out multicurrency debit card in Singapore

Published Mon, Oct 14, 2019 · 09:50 PM
Share this article.

Singapore

UK-BASED fintech player TransferWise has ruled out applying for a digital bank licence in Singapore.

Instead, it is looking to grow its core business of cross-border payments in the region, said the head of the firm's Asia-Pacific and Middle East expansion Venkatesh Saha.

TransferWise on Tuesday rolled out a multicurrency account with an accompanying MasterCard debit card in Singapore - where it currently offers remittance services - in a move to help Asian travellers and small businesses dodge traditionally high FX markup rates.

The new offering comes amid growing competit…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here