Mobile banking widens gap with internet banking in Cambodia

Globe Telecoms’ fintech unit Mynt (Globe Fintech Innovations) gained fresh investments from Ayala Corp and Mitsubishi UFJ Financial Group (MUFG), a move that will boost the valuation of Mynt to US$5 billion, claimed Globe.

The mobile money market matured as transaction value grew by 14% to US$1.4 trillion and total global registered accounts reached 1.75 billion in 2023, an increase of 12% year-on-year.

Mastercard announced on Tuesday it has launched Mastercard Pay Local, a new global service that enables digital wallet users in Asia-Pacific, Latin America, Eastern Europe, and the Middle East and Africa to pay locally when they travel.