GrabPay e-money services in Malaysia

Managing Director of GrabPay Jason Thompson (left) and Grab Malaysia country head Sean Goh displaying the app.

KUALA LUMPUR: Southeast Asia’s leading on-demand transportation group Grab, Malaysia has received the go-ahead from Bank Negara Malaysia to offer GrabPay e-money services in Malaysia.

It said on Friday the services will be launched in stages in the first half of 2018 and they would allow Malaysians to enjoy a simple, safe and rewarding mobile payment system.

The new GrabPay e-money services would help customers and merchants in emerging economies like Malaysia and elsewhere in Southeast Asia go cashless and cardless, it said.

Through the same Grab app, consumers will be able to access not just transport services, but all of the most important everyday services, whether it’s paying for food and drinks, the latest gadgets in shops or making transfers to friends.

Managing Director of GrabPay Jason Thompson said cash was still the most important payment method for many Malaysian SMEs and middle-class consumers, despite most adults having a deposit account.

“As one of the region’s most frequently used consumer apps with 72 million downloads, we are happy to work with Bank Negara to drive mass adoption of mobile payments in Malaysia and across Southeast Asia,” he said.

Demonstrating the GrabPay e-wallet at the Bank Negara Payment Systems Forum, Thompson said according to statistics by Bank Negara, cash handling and services cost RM 1.8bil a year to the banking industry and electronic-based payments may result in savings amounting to up to 1% of acountry’s economy due to lower retail payment cost versus cash transactions.

He said Malaysia was poised to rapidly move towards a digital-first economy thanks to a combination of technological innovation and progressive policies, such as the Malaysian Financial Sector Blueprint 2011-2020 which aims to increase the number of electronic payments per capita to 200 by 2020.

Thompson also affirmed Grab has taken a number of measures to ensure the privacy and security of GrabPay transactions, including a six-digit GrabPay PIN as a second factor authentication (2FA):

“Customers with a certain amount in their GrabPay e-money wallet account are required to activate the PIN. The Grab app will automatically prompt users to input their pin number when it detects any unusual activities.”

Grab Malaysia country head Sean Goh said the enhanced GrabPay e-wallet was secure, simple and rewarding to use.

Source: The Star Online

Tencent valued over $500B

JIAXING, CHINA – NOVEMBER 16: A speech about WeChat Ecosystem Innovation by Tencent is delivered during the Release Ceremony for World Leading Internet Scientific and Technological Achievements as part of the 3rd World Internet Conference (WIC) at Wuzhen Internet International Conference and Exhibition Center on November 16, 2016 in Jiaxing, Zhejiang Province of China. The 3rd World Internet Conference (WIC) – Wuzhen Summit kicks off at Wuzhen township on Wednesday and will last to Nov 18, in Zhejiang Province. (Photo by VCG/VCG via Getty Images)

Tencent has become the first Chinese company to be valued at more than $500 billion.

Shares of the 19-year-old company, which is listed on the Hong Kong Stock Exchange, rallied to reach HK$418.80 to give it a market cap of HK$3.99 trillion which takes past the $500 billion mark. Close rival Alibaba is Asia’s second-highest-valued firm at $474 billion.

Entry to the half-a-trillion-dollar club — which includes Apple, Alphabet, Facebook, Microsoft and Amazon — comes a week after Tencent posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion) for Q3 2017. Overall profit was up 69 percent year-on-year and revenue rose by 61 percent thanks to Tencent’s games business

As SCMP pointed out, a US$9,000 investment in the company’s 2004 IPO would now be worth US$1 million.

Just looking at the last twelve months alone, Tencent’s share price has doubled thanks to impressive earnings reports like Q3.

Tencent’s market cap has more than tripled since March 2014 when it reached $150 billion, surpassing Intel in the process. Writing then, The Wall Street Journal opined that the company “isn’t yet a household name in the U.S., but it should be” and that still applies today.

WeChat, its messaging app that is China’s top social service, is closing in on one billion users overall but it has not managed to replicate that success overseas. Tencent has instead focused on investing itself into global positions.

Its lucrative gaming business focuses on PC and mobile and is the heartbeat of revenue, accounting for $5 billion in the last quarter alone, thanks to smash hits like Honour Of Kings, 2017’s top grossing game, and the acquisition of the companies behind hit games Clash Of Clans (Supercell) and League Of Legends (Riot Games).

Tencent’s investment focus seems to have gone into overdrive over the last year. It has bought up stakes in public companies Tesla, Snap, invested in India-based unicorns Flipkart, messaging app Hike, health portal Practo and Uber rival Ola. Other earlier-stage deals include flying cars, lunar drones and asteroid mining, while longer-standing investments like Sogou (search) and China Literature (e-publishing) have gone public over the past month.

If the recent Snap and Tesla deals are anything to go by, Tencent is likely to commit considerable resources to developing a base among U.S. tech companies. Not only does it believe it can learn from their experiences to boost its business in China, but it can add fresh perspective too — particularly around messaging/WeChat.

Source: TechCrunch

管理经营模式受肯定 JuiceAPac 膺星洲企业楷模奖

沙巴网络设计公司──JuiceAPac有限公司荣获2017年第5届”星洲企业楷模奖”数码与科技企业卓越奖 (Digital and Technology Excellence Award),该公司卓越的企业策略管理与经营方式受认可,实至名归。

2017年第5届”星洲企业楷模奖”由星洲媒体集团旗下的星洲日报及世华媒体有限公司《星洲网》联办。颁奖典礼于本月10日在实达城会展中心举行,由第二财长拿督斯里佐哈利主持。JuiceAPac有限公司董事经理刘骤强与许伟杰从佐哈利手中接过奖项,象征该公司迈向新的里程碑。

Read the full article: Sin Chew Daily Online

Grab is now officially also a digital payments company

Grab is best known for rivaling Uber in Southeast Asia, but today the company took a major step into becoming a fintech player, too.

That’s because the ride-sharing firm, which recently raised $2 billion from SoftBank and China’s Didi Chuxing, rolled out support for its GrabPay service among third-party merchants for the first time today.

Grab is present in seven markets across Southeast Asia, but the first merchants it is onboarding are street food sellers in Singapore, where the firm is headquartered. An initial 25 are on the platform now, but the plan is to grow that number to 1,000 in Singapore by the end of the year.

This won’t change the game overnight for the company’s 60 million-plus users, but it is a sign of where Grab is headed since it announced plans to develop a payments platform last year. It takes GrabPay from being merely the system that enables you pay for a taxi using your credit (or pre-bought Grab credit) to one that could be used more widely as a digital payments app.

The process is much like popular payment services like Alipay: users just scan the merchant’s QR code, key in the amount and hit pay. Grab is placing incentives on using GrabPay credits — which will make the service more like wallet — but it also works with credit cards and other payment methods Grab offers locally.

The company is being rather coy on when it will expand the payments feature to new markets, other than that it will happen next year. Nonetheless it will be interesting to observe the impact it has in Singapore, the country of seven million people which exhibits more Western consumer habits than any place in Southeast Asia.

“This is an important part of the journey,” Grab co-founder Hooi Ling Tan told TechCrunch in an interview. “We’ve been talking and executing on our plan but today is a significant milestone for making GrabPay truly a cash replacement.”

“If I leave my wallet at home, I can still pay for breakfast, lunch and dinner. In time I’ll be able to buy goods like hardware or groceries using GrabPay,” Tan added.

There’s a veritable tonne of fintech startups and solutions aimed at digitizing payments already and Singapore, the hub for venture capital and a global financial market, has tended to be a first stop for most. But Tan is adamant that GrabPay has a super power lacking in others: users.

“For merchants in Singapore, the moment they sign up they get access to four million customers,” she said. “Telcos and banks haven’t been able to move to mobile wallets is because it requires them to adopt new customer behavior. [But] we’ve already shifted a significant portion of customer behavior.”

Given that Grab only began accepting payments less than two years ago, its move into payments has been swift since it was announced in July 2016. The firm hired ex-Euronet exec Jason Thompson to lead the GrabPay business, opened R&D centers dedicated to fintech, made an acquisition and added credit facilities and peer-to-peer transfers recently.

“For us to provide better services to a larger portion of Southeast Asia, existing partners we could work with didn’t meet the scale or expectation of what we had,” Tan said of the payment push. “Nine in ten in Southeast Asia don’t have a credit card and 75 percent are unbanked — it’s clearly a big problem and, in our minds, larger than transportation.”

Grab’s move to enable financial inclusion is the opposite of Uber’s recent announcement of an own-branded credit card to its users. Admittedly that’s a move primarily aimed at first-world markets, but it certainly emphasizes Grab’s focus on being local.

It isn’t the first to go down this route by any means, however. Go-Jek, its billion-dollar rival based in Indonesia, introduced its Go-Pay service in 2016 while India’s Ola, which shares common investors with Grab, has operated standalone service Ola Money since 2015.

Note: Article updated to correct that Grab aims to onboard 1,000 merchants this year not 20,000.

Source: TechCrunch

Apple is looking into reports of iPhone 8 batteries swelling

Reports from a few iPhone 8 and iPhone 8 Plus buyers have suggested there could be an issue with the battery inside some of the devices swelling, causing the case of Apple’s new iPhone to split open and expose the smartphone’s internals.

Apple has now confirmed it is looking into it, although a spokeswoman declined to comment further when asked how many devices are affected.

From what we’ve heard the number of reports so far is very few.

Yesterday CNET rounded up the handful of reports that have emerged — saying there are at least six different reports in at least five countries of the iPhone 8 splitting along its seams.

Today Reuters also noted a report in Chinese state media of an iPhone buyer claiming a newly purchased iPhone 8 Plus arrived cracked open on October 5, though apparently without any signs of scorching or an explosion.

Apple rival Samsung had big problems with smartphone batteries in its Galaxy Note 7 smartphone. In that instance some Note 7 batteries caught fire, and the problem was extensive enough that it led Samsung to recall all Note 7 handsets — at great expense.

In the case of the iPhone 8 the issue appears to be limited to batteries bloating/swelling, rather than catching fire — at least as reported so far.

Although the phone only went on sale on September 22 so it’s still early days for the device.

Apple did not release figures for the first weekend sales of the iPhone 8 and 8 Plus, as it has in the past with new iPhones, so it’s also not yet clear how many of these handsets are in the hands of buyers at this point.

Some analysts have suggested consumers may be holding off on upgrading their iPhone to buy the top-of-the-range iPhone X, which Apple also announced at the same time, but with a later release date.

Pre-sales for the iPhone X are due to begin on October 27, with the handset slated to ship on November 3.

Source: TechCrunch

以知识造福人群

JuiceAPac成立了15年,从本国的客户扩展到15个不同的国家,也从实体办公室发展到云端远距工作的团队。在今天这个进入云端的时代,JuiceAPac以改採分散人力模式,将工作模式分佈于不同国家的地区,甚至不需要在同一时段一起工作。在当今的云端世代,JuiceAPac更致力推广知识成长(成立社群读书会),为本身与客户提升价值及思维上的广阔。

透过分享及聆听的方式,以致集体创造的意义。智力及心智模式成长是必备的条件,不但能激发智慧的成长,我们更不断地精进及自我提升,并推己及人,把知识扩大到事业上,对客户一律贯彻“从内而外”的服务精神,即用心协助客户扩展生意及提升价值,而不只是纯粹做交易。