Digital payments platform InstaReM launches cash payout option in the Philippines
InstaReM, the consumer and SME arm of global financial technology platform NIUM, announced today the launch of cash payout options for recipients in the Philippines. The service allows InstaReM users to pick up cash at approved outlets.
Though the country is starting to adopt cashless payments, the Philippines is still one of the world’s biggest remittance markets, with overseas Filipino workers transferring funds in the amount of US$33.5 billion back to their home country in 2019. With the introduction of cash payout service by InstaReM, consumers have the option of withdrawing the remittance in a manner that is convenient to them.
Starting from now, users in the Philippines are able to pick up cash at approved outlets, including Bayad Center and select marts. Users will need to present their identification card for verification and fill in a claims form for cash pickup at approved outlets, including branches of Cebuana, MLhuiller, Palawan, LBC, & BDO, amongst many others.
Users in the Philippines can also opt for direct transfer to a bank account, a prepaid card, or door-to-door delivery. These services apply for both real-time payments (within five minutes) or same-day payments.
Alibaba Cloud launches a US$30M global SME enablement programme to provide COVID-19 relief
Data intelligence arm of Alibaba Group, Alibaba Cloud, has announced the launch of a Global SME Enablement Program to provide cloud technology relief worth more than US$30 million to new and existing small and medium enterprise (SME) customers around the world and equip them with the solutions needed to maintain business continuity amid the COVID-19 pandemic.
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Under the programme, new SME customers worldwide can apply for the relief between now and June 22 to start using a portfolio of solutions from Alibaba Cloud.
The portfolio consists of a support package with 12 key products, including Elastic Compute Service (ECS), which powers cloud applications with low latency, and Object Storage Service (OSS), an encrypted service for data storage and backup in the cloud; as well as Alibaba Cloud Academy Courses.
Sistema Asia partners Russian state VC firm to spark technology collaboration
Singapore-based fund management company Sistema Asia has announced its official partnership with the Russian Venture Company (RVC), the state fund of funds and the institute for development of the Russian Federation venture market, through the signing a memorandum of understanding (MoU).
Under this two-year co-operation, RVC will collaborate with Sistema Asia in the commercialisation of advanced digital technology innovations.
The partnership will also leverage Sistema Asia’s Sales Jet platform to expand market opportunities for Russian technology companies in Singapore and Asia. Meanwhile, RVC will assist Singapore-based companies seeking partnership opportunities within Russia’s technology ecosystem.
Sales Jet is a business development platform for advanced technology companies from Russia and Singapore that are looking to expand their business across Asia. It was formed in 2019 by Sistema Asia, in partnership with Enterprise Singapore (Singapore’s chief state enterprise development agency), the Skolkovo Foundation (a prominent Russian technology innovation and commercialisation agency), and MTS (one of Russia’s largest telecommunications firms).
During Sales Jet’s three-month programme first started in 2019, companies receive expert insights on their target local markets. The companies also receive professional assistance on scaling their businesses, such as organising sales, improving engagements with local consumers, as well as expanding stakeholder and investor networks.
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Picture Credit: InstaReM
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