What we like
The Future of Banking and Embedded Finance
The ever-changing evolution of technology has reached the far corners of almost all facets of our lives – including how we bank. The connotation with the word “bank” used to be of brick-and-mortar buildings; with staffs and ATM’s ready to assist you with your financial needs. With time comes change: the word “bank” today may […]
April 30, 2021
Unveiling the issues behind small value user to user payments
Streaming services are experiencing drastic increases in content consumed – what’s new? Services such as Twitch saw a sheer 100% increase year-on-year, to take one example. However, the problem of rewarding people for their streams still remains cumbersome; most platforms today are not compatible with user-to-user payments – specifically regarding cross-borders. If only Apple or […]
April 27, 2021
Tomorrow’s financial apps might not be the ones you think
Apps are increasingly relying on their own in-app currency to generate revenue from user-to-user transactions. In our previous blog, we analysed Bigo Live; a streaming app with 23m monthly active users (MAU). Bigo users purchase Diamonds via an in-app purchase mechanism and then use these Diamonds to purchase virtual gifts which they send to broadcasters […]
March 27, 2021
Embedded user-to-user payments: the hidden billion dollar market
Let’s begin by addressing the elephant in the room: Why does it have to be so difficult still in 2021 to receive $1 from 1,000 people during a live stream? Here’s the answer: It doesn’t have to be. In this present day, the world is still not as optimised as we’d like it to be […]
March 21, 2021
Rocket fuel that boosts the Creator Economy: small-value user-to-user payments
It’s safe to say that the 21st Century has been and continues to be a revolutionary and game-changing time period of financial and tech innovations; thus birthing a new legacy-making term: Fintech. With the reality of Fintech, rises the fresh opportunity for an even more monumental innovation: Embedded Finance. Embedded Finance explores the reality of […]
March 16, 2021
If 1 second makes a difference, imagine what 1 dollar can do too.
The other day a friend of mine recounted a story on her defeat in a competition by the mere fact of being just a second too late. Depending on the context – a second can feel like an eternity, or as passing as an unmemorable breath out of the thousand you’ll take in a day. […]
July 20, 2020
Real Time Payments The Trillion Dollar Opportunity
Our advisor, Faisal Khan, discusses the massive gap in the world of small-value, real-time payments. It's a fascinating video to listen to just how much opportunity there still is to change the world we live in.
Featured / Videos
May 31, 2020
Four Trends in Consumer Tech
The Super App era is upon us. Fewer and fewer people download new apps onto their phones, and so the apps we already have need to enable much more for their consumers if they intend to hold onto them. We believe the Financial Services are KEY value-adds that any global app will need to embrace […]
Featured / Videos / What we like
May 30, 2020
Interoperability between Wallets and Stored Value Systems
This one is really close to our hearts. In-app wallets are at the core of our offering, and interoperability is one of the great things that wallets can enable as the common denominator between everyone on the planet. There is a lot of complexity to wade through, and so we really appreciate the shout-out from our advisor, Faisal Khan, as we try to chip away at this global must-have, bit by bit.
Featured / Videos
March 24, 2020
Any Company Can Offer Financial Services
Financial Services will eat the world! Large-scale acquisitions of infrastructure companies like Plaid for $5.3B by Visa are just the start of what will be a growing trend in Fintech. Companies that take the complex, overly fragmented world of payments and payment networks, and provide their B2B customers with a simple plug point will win […]
Featured / Videos / What we like
March 23, 2020
Paytech post the global Covid19 pandemic
This post was originally intended to be about remote working in the current climate. My focus was going to be on the fact that our team at The Wallet Engine transitioned to a remote working culture in the middle of 2019. The blog was generally about how successful that change has been for us. It has enabled us to find the best talent in the world for our unique business, without needing to compete with bigger fintechs or even bigger banks and consultancies who are often fighting over the same
March 22, 2020
Interoperability in Payments
There are 10s of 1,000s of payment gateways, wallets and banks. How do we still live in a world where there is not one system that provides a frictionless interoperability between all your different payment methods? Our Advisor Faisal Khan has the breakdown for you.
Featured / Videos / What we like
March 20, 2020
Gamers are Entering a New Era of Monetisation
We inherently view gaming as child’s play, but it is a juggernaut of an industry today, and will just keep growing. What will be key for this industry though, is how do you enable players to move funds across the globe? How do you enable someone to move real money from one gaming platform to […]
Featured / Videos / What we like
March 08, 2020
We are excited to share some rapid-fire questions answered by our founders. How does the Wallet Engine differentiate itself in a seemingly overcrowded payment space? Watch this to find out more.
January 20, 2020
Panel discussion on in-app wallets
An open discussion between Mambu, Butleric and The Wallet Engine - sharing just how incredibly exciting the future of mobile payments is. The network effect of tech and Fintech companies will ultimately change the lives of consumers everywhere.
Featured / Videos
December 03, 2019
Wallet Engine & Mambu
The Wallet Engine's Co-Founder and COO, Barry Hurley, sat down with the Mambu team during the September Mambu Summit in Amsterdam to talk about the agile partnership that now exists between the two Fintech companies.
Videos / What we like
November 18, 2019
What is Wallet Engine?
The Wallet Engine provides businesses and apps with the tools they need to create borderless in-app wallets for their users, no matter where in the world they are. The Wallet Engine's end-to-end solution combines robust and highly scalable wallet technology, local top-up and withdrawal
August 29, 2019
Facebook’s Libra: Dead On Arrival
So it's been a few weeks now since Facebook announced their cryptocurrency, Libra. Over that time, I have come across a number of articles, opinions and other diatribes trying to make sense of what it all means for us today, as well as for tomorrow. One of the triggers for me to writing about Libra was the fact that many of our customers, investors, partners and well-wishers wanted to have our views on Libra. So here’s as concise a view on Libra as possible, and more specifically – from the
Blogs / Featured
July 09, 2019
The Facebook Coin – really?
South East Asia has been a hotbed for Fintechs and at the forefront of global payment innovation. Superapps like WeChat, Grab, and Gojek have injected a healthy sum of money into the development of their in-app wallets, which are clear as daylight in showing the world just how essential an ecosystem enabler wallets will be. Many of our customers too have risen to show that there is a clear and strong need for integrated payments into app communities, particularly those with users that live
April 14, 2019
Plug and Play Fintech Singapore – Promo
The team at Cheers Wallet Engine are proud to be a part of another Plug and Play program in SEA, this time with a focus on the corporate world! Demo Day 29th May 2019. https://www.walletengine.io https://www.plugandplaytechcenter.com
Videos / What we like
March 13, 2019
Five4Fintech Vol 4 – Shiyan Koh
It was a great pleasure sitting down with the Managing Partner of Hustle Fund, Shiyan Koh. We are huge fans of the Hustle Fund (follow their blogs!). They are a VC fund that invests in pre-seed software startups in the US, Canada and South East Asia. Shiyan's insights always lead to great conversations. https://www.hustlefund.vc https://www.linkedin.com/in/shiyankoh/ https://www.shiyankoh.com
March 11, 2019
#Five4Fintech Vol 3 – Jupe Tan
Jupe Tan is Managing Partner of Plug and Play's APAC arm, and took time out with our co-founder Arish to share how he uses wallets and some of his views on the road ahead for digital payments. Jupe travels extensively between the US and across SEA. Continuing our mini-series of interviews with experienced leaders in the global Fintech space. https://www.linkedin.com/in/jupetan https://www.plugandplaytechcenter.com
March 04, 2019
#Five4Fintech Vol 2 – Scott Robinson
Scott Robinson, who founded Plug and Play's Fintech arm, sat down with our co-founder Arish to share how he uses wallets and some of his views on the road ahead for digital payments. He uniquely has in-depth knowledge on payments from the US and SEA. Continuing our mini-series of interviews with experienced leaders in the global Fintech space.https://www.linkedin.com/in/thescottrob/https://www.plugandplaytechcenter.com
February 08, 2019
Price discounting is bad for business! Strategic errors of ride-hailing companies
Sure, you wouldn't say no to getting a discount code from Grab that turns a $10 ride into a $2 one. This has been the game we have seen played out from when Grab and Uber spent considerable sums of money trying to win in the ride-hailing battle across South East Asia. But does this really translate into a meaningful relationship with customers? Do people endear themselves to your products and services, or are you conditioning them to be highly transactional with you. To what end?Pricing is the
January 30, 2019
#Five4Fintech Vol 1 – Milind Sanghavi
Milind Sanghavi, who heads digital payments for OCBC Bank, took out some time to have a candid discussion around mobile payment wallets, and what he sees coming down the road.
January 24, 2019
WeChat’s app war – why other apps cannot bank on third party wallets
Hot off the press - China's super-app WeChat, has just struck a blow to three competing social apps. In the case of Liaotianbao, the announcement of the blocking of their platform by WeChat came just before their launch in Beijing. This is perhaps becoming a strategy worth taking note of with WeChat, who in May of last year changed their rules around third party services, under the guise of “users’ privacy and content compliance.” This created an uproar even among Chinese media outlets and
January 24, 2019
2019 is the year in-app wallets make a splash
A prediction for what to expect from 2019 is that in-app wallets will become a more significant part of our mobile-first worlds. In South East Asia, we have seen a number of large ecosystem apps (super apps) who at their core, use their embedded wallets to enable their users to transact with greater ease. In China as an example, with WeChat Pay and AliPay, there is simply no need to carry cash anymore. The focus is clear, find a way to entrench your app deeper into the lives of people. Grab's
January 08, 2019
Soothsaying into 2019
What's a new year without resolutions and plans?Not me. Waiting for a new year to make change ensures your plans are destined to fail for most. Resolutions are daily occurrences, because change needs to be constant. That being said, I am not opposed to having a little fun taking a shot at predicting how some of the most hotly discussed technologies, industries, geopolitical tussles and plights might pan out over the next 365 days. Here goes:Crypto-Asset Regulation - Without regulation, there is
January 02, 2019
Do you know what the crypto-world will look like in 2019?
2018 was clearly a step backward for the crypto-economy. We end the year with most top coins such as Bitcoin and Ether returning to their mid-2017 prices, a big disappointment for many who thought they would retire early, as Bitcoin would blast past $20,000. Didn't happen. Perhaps you could say the winners were the ones that bought their Ferraris, Lambos, and London penthouses in the nick of time. The biggest losers were perhaps the companies that launched successful ICOs, and opportunistically
December 26, 2018
Data Privacy & Payments
Data Privacy has, fortunately, become a growing concern for everyday people who find themselves not only living their lives online, but also being bombarded and targeted by marketers due to the digital footprints they leave behind. In a more harmless sense, it extends to no more than a real annoyance. Every word you utter seems to result in Facebook or Instagram or one of thousands of other platforms trying to pitch you to consume or buy through their channel. In a more serious sense, data abuse
October 27, 2018
Is the utility token a thing of the past? What’s next?
What an insane tumble for the crypto market so far this year. Crashing to a total value of just $220 Billion and as low as $186 Billion in mid-September. While all the alt-coins took a massive dive, it was Bitcoin that held more of its value. This signifies a stronger belief in Bitcoin still being the predominant flag bearer of the crypto market, and still the most significant 'currency' in the space. Bitcoin is now back to representing half of the entire market. I still think crypto-currencies
October 15, 2018
Messengers will kill the remittance industry & four reasons why
The remittance industry has been an easy target for Fintech startups. Typically controlled by the banking networks and old school money movers like Western Union, the slow speed, exorbitant fees and foreign exchange spreads that they profited from for years have been the bane of not just international trade, but also individuals who want to move money across borders. The house lights are up, and the party is coming to an end; with neo-banks and streamlined players like TransferWise and Revolut
September 15, 2018
The big idea behind Small-Value Transfers
The global remittance business according to the IMF is $600 Billion annually. That is huge, but 98% of those Peer-to-Peer transactions represented are over $100.So when you break down P2P transactions to a local country metric, 99% of those transactions are under $100. There are exceptions of course. In the Philippines, the local remittance business is 2-3 times the size of the global inward remittance, due to the nature of migrant workers who send money home from cities like Manila back to
September 11, 2018
Are next-gen payment systems really new disruptive technologies?
We often assume that when we see new companies form, or do something revolutionary, or "disruptive", that the ideation behind it is unique. The fact is though, most improvements we see in most spaces in our lives are an adaptation or evolution of something we have already seen in other industries.As a quick thought on this topic, take a look at the telecom industry. When it started, the process was a manual and highly arduous process to connect a caller to the recipient. You rung an operator
August 02, 2018
In-App Wallets – is everyone missing the point?
Everyone and his/her grandmother has a view on digital wallets and what they can or cannot do. It means different things to different people, and means different things depending on where in the world you are. Wallets are extremely powerful ecosystem enablers. They help create and maintain those sticky features that all app developers dream about. Over the past few years, so many examples of how strategically important they are have come up, and perhaps insights into some past and potential
July 17, 2018
The money float – old school vs. the shinny new stuff
I had the most fascinating conversation with an ex-card company man a few weeks ago. He made a statement that caught me thinking, and so I figured I would pen it down. His statement was provocative - "What companies like TransferWise and many other fintechs challenging the status quo of banking are doing is nothing more than legalised Hawala!"Money transfer as an organised ecosystem has existed since the 8th Century, when traders and travellers used to cover great distances and ran the risk of
June 07, 2018
What does Hollywood know about the startup world?
We often succumb to assumptions. We have a general belief that our world is unique, and that the rest are all outsiders looking in. This presumption is sometimes most evident when it comes to our passion and self-belief in our chosen careers and industries. So if someone came out of the Hollywood hills and landed himself in and among startup founders, you might think he's a fish out of water. But that's not necessarily the case...ever. A lot of 'business' is formed from a similar DNA; and not
May 01, 2018
The Lion City gold Uber left behind
News has hit the airwaves of Go-Jek partnering with none other than ComfortDelgro, the incumbent taxi company that suffered for a time under the pressure of ride hailing services startups like Grab and Uber.Uber struck what seemed like a seismic blow to Grab, by partnering with Comfort and incorporating their 13,000 plus taxis into their ecosystem only so far back as January under UberFlash. The only problem was, the game extended beyond ride hailing services; and as I have blogged before, that
April 25, 2018
The big business of small-value transfers – a heads up.
Most of us look around the world we see today and have a preconceived notion of where the big financial businesses are. Typically we look at Wall Street, The City of London, and countless other megacities with thriving investment banking and commodity exchanges as the beacons for all that is rich and powerful. But scratch that. The real big business is in small-value transfers, and it's a a mega ecosystem that is largely untapped.Apps today are a significant focal point of life. Whether it's a
April 22, 2018
Uber exits SEA – The low hanging fruit they missed… in-app wallets
In one of the most unexpected twist in the ride hailing space. Grab managed to beat out Uber in what many expected early on to be a culling of the local player. And to be clear, when they both started battling it out in Singapore, this really was a local battle. Grab was yet to make a dent in the SEA region, and Uber was already trudging along in their regional expansion. So what happened? How did David actually take down Goliath?The expectation after Uber lost out to Didi in China, was that
April 13, 2018
Reflecting on the impact of supply & demand on the crypto-economy nosedive
The crypto economy received a dramatic haircut after the New Year. Although many people expected it, and in the case of the 'non-believers' hoped from it, the drop was the first substantial one in over a year. Prior to this, the market saw it's ups and downs, but always in an upward trajectory.It is however, important to understand a greater reason for why this swing was so dramatic. Aside from the typically publicised reasons of regulatory clampdowns, all out bans, scams and so on, the fact
February 18, 2018
The Taxman Cometh – Crypto-taxes are coming home to roost
Times are changing. Upon the birth of my daughter six months ago, one of her grandmother's thought, 'I don't want to just buy her some jewellery that sits in a cupboard for decades until her 21st birthday. I want to buy her some cryptocurrency!' Even as parents, we thought, let's buy her some crypto, just for the heck of it, and not touch it until she's old enough to do what she wants with her earnings (or the lack thereof, potentially).Whether you are a believer in crypto being a currency or an
February 13, 2018
2018 – The Transforming world of ICOs
2017 was for many people who follow the crypto ecosystem, a year of awareness for blockchain technology. It was also the year where the world lost its sh*t on the speculative gold-rush that ICOs and benchmark crypto-assets provided us with. 1,000% market growth is simply not normal, and almost out of the gates, traditional investors and Wall Street started to shout aloud about the bubble that was forming. You don't own equity in these companies but you are buying tokens like securities... I
January 16, 2018
Time to Plug and Play
Cheers Global Wallets is proud to be selected as part of the GK Plug and Play accelerator program. Based primarily out of Indonesia, there is a sense of great purpose when the program started here in 2016 with a clear agenda to positively impact the Southeast Asian startup community much like they have with Silicon Valley giants like Dropbox and PayPal becoming household names the world over. As a part of batch 2 which kicked off January 8th, we are excited to have a significant impact on the
January 13, 2018
What made 2017 special
It is the end of a great, exciting year of fintech. So much of what we saw was an obvious realignment in people's minds of what their future will look like, or more importantly, what will sit inside their wallets. Two stand out topics - The Crypto-world and fintech innovation/revolution/evolution.Crypto-assetsPerhaps if I say it often enough, it'll start to catch on. With the exception of Bitcoin, which from the very beginning had an intent of being a currency alternative to FIAT currencies, all
December 27, 2017
Payments – Disruption is in the DNA
It has become a cliché phrase – disruption. Perhaps the most overhyped topic of conversation for disruption these days are crypto-assets and the blockchain. Although there are reasonably sound technical merits to the potential, blockchain in particular, holds for the future of payments and commerce at large, it is far from an outlier. It is actually more of the norm for the world of payments, cash, credit and financial transactions, and it dates back beyond 3,000 BCE.The evolution of payments -
December 19, 2017
Bitcoin’s price vs. Economics 101
Wow! Is the Bitcoin craze getting a little out of hand, or what? Striking $10,000, people are now speculating it will hit over $40,000 in the next six months. I felt it necessary in all the hype to lay forth a few realities of what is happening with Bitcoin, based on economic principles that you learn on day-one in any high school econ class - Supply vs. Demand.What many people entrenched in fintech and specifically the crypto-asset space are aware of, is that most of the Bitcoin mined and in
November 30, 2017
Digital payments with Michael Wiegand of the Bill & Melinda Gates Foundation
Michael Wiegand was far and beyond the most engaging and worthwhile keynote of the entire fintech festival for me, and perhaps the most relevant speaker I have heard in quite some time. As the Director Financial Services for the Poor at the Bill & Melinda Gates Foundation, Mr. Wiegand is well placed and deeply knowledgeable, with real-world relevance. Hearing him speak, and framing how life is for the majority of people in the world, and defining the structure of a digital payments solution that
November 26, 2017
Singapore Fintech Festival – The shifting world of payments with Jaitley – Pandit – Hinrikus
Shared here are some fairly varied views on the world of money and payments. Some very different wavelengths from a seasoned politician, a seasoned banker and a seasoned startup founder. Arun Jaitley – Indian Finance Minister KeynoteArun Jaitley attracted a full house for his morning keynote. Covering topics from the famed demonetisation to the new Goods and Services Tax (GST) that took effect on July 1st 2017. As expected, he spoke to demonetisation being the catalyst what would propel India
November 22, 2017
Singapore Fintech Festival – A few personal takeaways from the week.
First off, what a joy it is to live in a city that can attract so much attention and activity around a topic as specific as Fintech. We often assume everyone is exposed to this world, but there are few people who read beyond The Economist or see beyond CNN and Bloomberg. The week was not restricted to the massive Singapore Expo (I’m a little amazed, as were many, that a hanger-sized space in the middle of the Singapore monsoon season could get that cold!). So here are three quick takeaway
November 21, 2017
India’s Demonetisation – What could have been (…and still can be)
Why did demonetisation not have the impact it was supposed to? More importantly, after removing the two most substantial currency denominations for 1.3 billion people, why is all that currency back in circulation? Did it really make a difference? Are PayTM’s 100 million new user accounts really a metric that translate into 100 million new digital citizens of India?As the first anniversary of that fateful day in November 2016 is upon us, if you follow what the ruling government projected as some
November 08, 2017
Impactful opportunities in mobile payments lie beyond the obvious.
China’s Alipay is expanding to European markets, Apple Pay takes on China’s internet kings in mobile payments, banks across the world are launching mobile apps bringing their existing services onto the smartphone. And then, there are all those whose mission is to improve a customer’s in-store and online check-out experience. Oh, let’s also not forget the mobile network operators with their mobile wallet versions facilitating P2P transactions, bill payments, and so on. Most of the $50 billion
February 10, 2017
Mobile wallets in the Western world are doomed to fail.
Digital wallets are poised to transform the payments landscape far beyond just technology. They will reshape how we interact, how and when we pay for products and experiences, but most importantly, they will enable a new breed of transactions driven from contextual activities. But let’s start with what digital wallets are since the term has been used with various interpretations.Look inside your own leather wallet: you have cash, but you more than likely also have credit cards, loyalty cards,
December 19, 2016
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