Salarium

Salarium derives its name from the Latin word for “salary,” “soldier,” and “salt,”’ which all have the same root word: “Sala.” In ancient Rome, soldiers were paid their salaries in salt, which at that time was valued more than gold.

Salarium is a SaaS end-to-end payroll management company that provides enterprise solutions for small and large businesses.It is headquartered in Hong Kong and has office in Manila, Philippines.

Go-Jek buys three startups to advance its mobile payment business

Jon Russell, writing for TechCrunch;

Go-Jek, the company leading Uber and Grab in Southeast Asia’s largest market, has bagged a hat trick of deals to advance its mobile payment strategy.

Indonesia-based Go-Jek revealed it has acquired offline payment firm Kartuku, payment gateway Midtrans and payment and lending network Mapan for undisclosed sums.

It’s starting to become a 3 way ride-sharing war in Southeast Asia; Uber vs Grab vs Go-Jek!!!

Apple Pay Cash is rolling out for iOS 11.2 users

Chaim Gartenberg, writing for the Verge;

Apple was forced to release iOS 11.2 on Saturday, which was a little earlier than planned, due to a software bug. Now, Apple Pay Cash — one of the marquee features of the update — is being activated for users.

Apple Pay Cash lets users send and receive money directly though iMessages, similar to Venmo or Square Cash. Money that people send you will live on a digital Apple Pay Cash card in the Wallet app, which users can spend anywhere that Apple Pay is accepted, or send to other people. (The new feature is only available in the US for now, though.)

If you updated to iOS 11.2, that means Apple Pay Cash is already on your phone it’s just disabled.

Bitcoin just passed $8,000

Fitz Tepper, writing for TechCrunch;

Yesterday the price shot past $8,000 for the first time, and per usual when it breaks through a milestone is now trading solidly above it at $8,250.

I know someone who treat bitcoin like an investment or similar to stocks, this news will surely make him very very very happy!

AFAIK, he had his bitcoin for sometime now, so you can just imagine the amount of returns he will get if he decides to cash out now. I’m pretty sure he’ll be holding on to it until it reach $10,000/bitcoin.

iSelect takes control of iMoney, one of Southeast Asia’s top financial comparison sites

Judith Balea, writing for Tech in Asia;

ustralian Securities Exchange-listed iSelect has boosted its stake in Malaysia-based financial comparison service iMoney, giving it majority ownership of the company.

In a disclosure to the ASX, the company said it hiked its iMoney stake to 51.5 percent from 23.8 percent by buying US$4.15 million worth of shares from other shareholders. The purchase price equates to a value of “5.9 times iMoney’s FY17 revenue,” it said.

UTRUST

UTRUST is the world’s first cryptocurrency payments platform to implement consumer protections on a mass scale. The company is building a global PayPal–like payments platform with extensive cryptocurrency support.

UTRUST’s end goal is to provide all the benefits of fast, secure, convenient, and inexpensive cryptocurrency transactions, in tandem with the world’s first cryptocurrency payment protections, which consumers need to fully embrace blockchain technology en masse.

UTRUST has currently raised $3.5 Million through private investors and the sold out pre ICO, with the public ICO commencing on 20th September 2017.

BSP approves registration of 2 bitcoin exchange operators

Lawrence Agcaoili, reporting for The Philippine Star;

The Bangko Sentral ng Pilipinas has approved the registration of two companies to engage in the operation of bitcoin exchanges as part of efforts to regulate the fast growing but potentially risky virtual currency industry.

BSP Governor Nestor Espenilla Jr. said during the FinTech Thought Leadership Roundtable Series presented by FINTQ, the central bank has given the two companies the green light to operate bitcoin exchanges.

It’ll be interesting to know the name of those two companies.

BPI’s official statement regarding the double-posted transaction from April 27 and May 2

BPI ADVISORY (updated);

Further to our announcement this morning, we have identified an internal system error that caused some transactions occurring between April 27 and May 2 to be double-posted as of June 6.

We have identified the root cause of this error, and are temporarily suspending access to electronic channels to speed up rectification. All BPI branches will open on time this morning, and will continue to service your needs.

We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently, and that none of them will lose money from this incident.

April 27 and May 2 is a long time for a system error to go unnoticed.

The announcement was posted on BPI’s official Facebook page.

Grab inks Kudo acquisition agreement, appoints new head of cashless payments solution

Anisa Menur A. Maulani, reporting for E27;

Rumours have been circulating around Indonesian startup communities since February 2017 that Southeast Asian ride-hailing giant Grab has acquired Indonesian O2O e-commerce platform Kudo.

After a period of silence, today Grab finally confirmed that it has signed an agreement to acquire Kudo.

This acquisition will surely help Grab Pay gain more ground.

Fastacash

Fastacash is a social payments platform that enables the transfer of any type of value across any social media network or messaging platform.

Headquartered in Singapore, Fastacash have international teams across the US, the UK, South East Asia and India.

Jack Ma invests in PH

ABS-CBN News;

Chinese billionaire Jack Ma will be investing in the Philippines through his Alibaba Group’s affiliate, financial service provider Ant Financial Services Group.

Mobile operator Globe Telecom on Friday said that Globe Fintech Innovations Inc. (Mynt) has entered into a strategic partnership with Ant Financial.

Samsung Pay launches in Thailand

Michael Tegos, reporting for Tech in Asia;

Samsung Pay, the Korean mobile giant’s cashless payment service, has officially landed in Thailand, the company announced today. The service has been running in the country in an “early access” fashion for a limited number of users since October last year.

Samsung Pay works with MasterCard, Visa, KCC, Bangkok Bank, Citibank, KasikornBank, KTC, and Siam Commercial Bank. Samsung says that department stores and shops in the country will also accept payments through Samsung Pay.

Ant Financial buys US-based money-transfer company for US$880 million

Kevin McSpadden, reporting for E27;

Ant Financial, the Jack Ma-owned fintech company, has acquired the US-based money transfer service Moneygram in a deal worth about US$880 million.

The acquisition marks a significant step into the Western market for Ant, which has never acquired a US-listed company. Ant was spun off from Alibaba ahead of the e-commerce giant’s IPO in 2014 and has grown into the most dominant fintech company in Asia.