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Vietnam Leads Surge in Contactless Payments Across Asia-Pacific: Visa survey data

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1 year ago

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HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 30 December 2024 – Visa, the global leader in digital payments, reveals a surge in contactless payments across the Asia-Pacific (AP) region, with Vietnam leading the charge based on a recent survey commissioned by Visa done by YouGov[1]. VisaNet data analyzed by the Visa Consulting & Analytics (VCA) shows a significant shift in payment behavior, with nearly one in five transactions processed on the Visa network being contactless in September 2024.

Survey results reveal that in the AP region, in-app mobile wallets (69%) and tap-to-pay (68%) are the preferred payment methods. In Vietnam, mobile wallets are favored payment method by 80% of consumers surveyed, while 68% utilize tap-to-pay. Additionally, 39% of Vietnamese consumers trust smartphones for high-value transactions, demonstrating their confidence in mobile payment security and comfort with mobile-first solutions.

At the end of November 2024, contactless payments have become universal in Vietnam, with over 75%1 of face-to-face transactions on Visa cards being contactless. The introduction of mobile wallets such as Apple Pay, Garmin Pay, Google Pay, and Samsung Pay has significantly driven this trend, reflecting growing consumer confidence and a rising demand for SMBs to offer these seamless payment options. Visa is actively collaborating with banks and merchants to develop a comprehensive contactless ecosystem through the “Small Business, Big Future” initiative and an online toolkit supporting SMBs in their digital transformation journey.

Ms. Dung Dang, Visa Country Manager for Vietnam and Laos, said: “We envision a future where digital payments are seamless, secure, and accessible to all Vietnamese businesses. By collaborating with partners across the payment ecosystem, we strive to help SMBs unlock new opportunities for growth and efficiency, ultimately contributing to Vietnam’s economic progress.”

While contactless payments offer unparalleled convenience, transaction security is crucial for establishing consumer trust and promoting widespread adoption. With 51% of respondents across AP expressing confidence in tapping their card as a secure payment method, the AP digital economy experienced an uplift of more than USD 2 billion with the implementation of the Visa Token Service (VTS). This underscores the importance of promoting secure, contactless payment solutions throughout the region.

Additionally, by collaborating with QR payment providers in Asia Pacific, Visa facilitates seamless cross-border transactions, opening new opportunities for Vietnamese businesses in international commerce. This is further reinforced by the growing preference for QR code payments in Vietnam, with 98% of mobile payment users scanning QR codes at point-of-sale (POS) for their convenience, wider acceptance, reliability, and security[2].

[1] VisaNet data, all other data unless otherwise stated is from AP Consumer Payment Preferences Survey commissioned by Visa done by YouGov – Total sample size was 16,308 respondents (14 markets in total) and fieldwork was undertaken between 30th August – 6th September 2024 with 1,038 respondents in Vietnam.

[2] The Visa AP Mobile Research was conducted online with 9,000 consumers across 5 Asia Pacific countries including Australia, India, Singapore, Vietnam (1,500 respondents) and Japan, aged 18-60 years (IN, SG, VN) / 18-70 years (AU, JP), in Nov 2024.

Hashtag: #Visa #ContactlessPayments



The issuer is solely responsible for the content of this announcement.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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Owner-Operated Serviced Office CoWorkSpace Opens at 6 Raffles Quay Level 16, Offering Members Stable Pricing in a Landlords’ Market

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9 hours ago

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26/05/2026

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As Singapore CBD office rents rise for a fifth consecutive quarter and vacancy hits a record low, CoWorkSpace aims to shield members from rent increases that flex operators typically pass through.

SINGAPORE – Media OutReach Newswire – 26 May 2026 – CoWorkSpace is conveniently located at 6 Raffles Quay #16-01, occupying an entire floor within the office tower and comprising more than 50 private suites designed for startups, SMEs, and established corporations across shipping, financial intermediaries, family offices, professional services, business consultancy, technology, and trade-related industries.

The building is linked to both Raffles Place and Downtown MRT stations via fully sheltered underground walkways, allowing members and their visitors to reach the office without exposure to Singapore’s heat or rain.
Unlike other industry players, CoWorkSpace owns the property it operates from. This owner-operated model provides members with the option of medium to long-term price stability and reduces the risks commonly associated with leased coworking spaces, such as sudden closures, forced relocations, and aggressive rental increases.
The facility is configured mainly as private suites, with no hot-desks and no virtual office members. Members on dedicated-desk arrangements are situated within private suites, providing greater privacy and a more professional working environment.
Each suite is equipped with electronic height-adjustable desks, modern office chairs, and pedestal cabinets according to the suite configuration. Data points are also included within each suite.
Shared facilities include an expansive business lounge, business-grade internet, reception services, meeting rooms and call booths, printing, scanning and shredding facilities, and utilities.
In addition, CoWorkSpace operates an in-house IT team that manages its network and infrastructure directly, enabling faster response and turnaround times for IT-related matters without relying on third-party vendors.

Hashtag: #ServicedOffice #Coworking #CoworkingSpace #RafflesQuay #RafflesPlace #SingaporeCBD #SGCBD #PrivateOffice #PrivateSuites #OwnerOperated #FlexibleWorkspace #BusinessAddress #SMESingapore #SGBusiness #CoWorkSpace


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JOYY Reports First Quarter 2026 Financial Results: Total Revenue YoY Growth Hits Multi-Year High

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10 hours ago

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26/05/2026

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SINGAPORE – Media OutReach Newswire – 26 May 2026 – JOYY Inc. (NASDAQ: JOYY) (“JOYY” or the “Company”), a leading global technology company, today announced its unaudited financial results for the first quarter ended March 31, 2026.

In the first quarter, JOYY’s total revenues reached US$555.7 million, up 12.4% year over year, representing the Company’s highest year-over-year growth rate in recent years. Social entertainment revenue increased 3.2% year over year to US$400.4 million. BIGO Ads ad tech and SHOPLINE e-commerce, the second growth engine of the Company, maintained strong growth momentum. BIGO Ads revenue reached US$124.8 million, up 55.6% year over year, while SHOPLINE contributed US$30.5 million, up 16.1% year over year.

In the first quarter, the Company’s non-GAAP1 operating income increased 22.5% year over year to US$38.0 million, while non-GAAP1 EBITDA grew 13.2% year over year to US$45.7 million. Operating cash inflow for the quarter was US$46.0 million. Net cash as of March 31, 2026 stood at US$3.18 billion.

Simultaneously, JOYY announced a new share repurchase program, under which the Company is authorized to repurchase up to US$600 million of its shares until the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program amounts to approximately US$1.5 billion, underscoring JOYY’s confidence in its long-term growth potential.

  1. This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company’s performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled “JOYY Reports First Quarter 2026 Unaudited Financial Results” issued by the Company on May 26, 2026.

Hashtag: #JOYY

The issuer is solely responsible for the content of this announcement.

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“Made in Binzhou” Heads to Tianzhou-10 Cargo Spacecraft——Binzhou Sci-Tech Power Embarks on a Hardcore Space Mission

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17 hours ago

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25/05/2026

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BINZHOU, CHINA – Media OutReach Newswire – 25 May 2026 – On May 11, experimental samples for the project “Study on the Effect of Rotating Magnetic Field on the Solidification Process of Aluminum-based Lightweight High-entropy Alloys under Space Microgravity Conditions” were officially launched aboard the Tianzhou-10 cargo spacecraft. Co-developed with the Metal Materials Center of Binzhou Weiqiao UCAS Advanced Technology Research Institute, these samples are now en route to China’s Manned Space Station to begin their on-orbit scientific journey in a microgravity environment.

Researchers conducting project experiments

This initiative is a collaborative effort involving the University of Chinese Academy of Sciences (UCAS), the National Space Science Center of the Chinese Academy of Sciences, and the Binzhou Weiqiao UCAS High Technology Research Institute. The successful launch marks a historic “zero-to-one” breakthrough, representing the first time private sci-tech forces from Binzhou and indeed Shandong province have reached space. It also stands as China’s first in-space experiment to study the solidification of lightweight high-entropy alloys under the dual-field coupling of “microgravity and rotating magnetic fields.”

As a national-level “space laboratory,” the manned space station hosts world-class research facilities and serves as a core platform for disruptive innovation in new materials. This successful deployment not only highlights the institute’s cutting-edge research capabilities but also signifies a deep integration between corporate scientific research and national aerospace engineering. Looking ahead, the institute will continue its deep dive into frontier fields such as space materials and lightweight alloys. By strengthening collaborative innovation across industry, academia, and research, they aim to empower the upgrading of the new materials industry with technological innovation, contributing both wisdom and strength to the development of China’s manned space program and the cultivation of new quality productive forces.
Hashtag: #BinzhouInformationOffice

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