The digital wallet allows the Bank's customers to make payments directly from their mobile phone when making a purchase without the need to present a credit card.
Indonesia's BRI Group has reduced the loan approval process for MSMEs in Southeast Asia from two weeks down to two minutes. The move comes at a critical moment when millions of businesses in the region are struggling to survive amidst the pandemic-driven economic recession.
This initiative follows the Central Bank of Nigeria (CBN) directive to enable global money transfers to be paid in US Dollars in an effort to streamline and increase the flow of formal diaspora remittances into Nigeria.
Since the beginning of 2020, Cambodia's BFIs have raised more than $500,000 in donations for health, sanitary and food supplies to support vulnerable communities.
COVID-19's Impact on Latin American Online Payment Methods 2020 - Digital Payments Boosted During the Pandemic
Since the outbreak of the COVID-19 pandemic, online purchase transactions have been on the rise in countries including Brazil and Mexico.