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NETS FlashPay
Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB). The NETS Group (comprising NETS, BCS and BCSIS) provides a full suite of payments and financial processing services including direct debit and credit payments at point-of-sale (NETS) and online (eNETS), mobile payments (NETSPay), card services (CashCard, FlashPay card), electronic funds transfer (FAST, PayNow, GIRO) and payment and clearing services (Real-Time Gross Settlement, Cheque Truncation System). NETS is also a member of the Asian Payment Network (APN) and a council member of UnionPay International. History NETS was first introduced to the public on 27 June 1985 as a 2-month pilot project involving 10,000 ATM card holders from the five local ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
E-commerce Payment System
An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. Credit cards remain the most common form of payment for e-commerce transactions. As of 2008, in North America, almost 90% of online retail transactions were made with this payment type.Turban, E. King, D. McKay, J. Marshall, P. Lee, J & Vielhand, D. (2008). Electronic Commerce 2008: A Managerial Perspective. London: Pearson Education Ltd. p.550 It is difficult for an online retailer to operate without supporting credit and debit cards due to their widespread use. Online merchants must comply with stringent rules stipulated by the credit and debit card issuers (e.g. Visa Inc., Visa and Mastercard) in accordance with a bank regulation, bank and financial reg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Visa Inc
Visa Inc. () is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa does not issue cards, extend credit, or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash access programs to their customers. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network (known as VisaNet) processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. This article is authored by a ''Forbes'' staff member. Visa was founded in 1958 by Bank of America (BofA) as the BankAmericard credit card program. Available through SpringerLink. In response to competitor Master Charge (now Mastercard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CIMB
CIMB Group Holdings Berhad () is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region. The group operates under several entities, which include CIMB Investment Bank, CIMB Bank, CIMB Islamic, CIMB Niaga, CIMB Securities International and CIMB Thai. The group's business activities are primarily in the areas of Consumer Banking, Wholesale Banking, comprising Investment Banking and Corporate Banking, Treasury & Markets, and Group Strategy & Strategic Investments, with its core markets being Malaysia, Indonesia, Singapore and Thailand. CIMB Islamic operates in parallel with these businesses, in line with the group's dual banking model. The group has around 33,000 employees in 18 countries, covering ASEAN and major global financial centres, as well as countries in which its customers have significant busi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Chartered
Standard Chartered PLC is a British multinational bank with operations in wealth management, corporate and investment banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa, and the Middle East. Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets Group Pink. Its largest shareholder is the Government of Singapore-owned Temasek Holdings. The Financial Stability Board considers it a systemically important bank. Maria Ramos is the group chair of Standard Chartered. Bill Winters is the current group chief executive. Diego De Giorgi is the current group chief financial officer. Name The name Standard Chartered comes from the names of the two banks that merged in 1969 to crea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maybank
Malayan Banking Berhad (doing business as Maybank) is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia. According to the 2020 Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fourth-top brand amongst the ASEAN countries and ranked 70th among the world’s most valuable bank brands. Background Maybank is Malaysia's largest bank by market capitalisation and total assets and one of the largest banks in Southeast Asia, with total assets exceeding US$203 billion and a net profit of US$1.98 billion for 2019. Maybank is also ranked 106th in The Banker's 2020 Top 1000 World Banks (as of July 2020) and 349th in the Forbes Global 2000 Leading Companies (as of May 2020). Maybank is the largest public listed company on Bursa Malaysia, the Malaysian stock exchange, with a market capitalisation of US$23.7 billion as of 31 December 2019. Maybank's Islamic banking arm, Maybank Islamic, is the largest Islamic ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC (Hong Kong)
The Hongkong and Shanghai Banking Corporation Limited (), commonly abbreviated as HSBC and formerly known as HongkongBank (; styled ''Wayfoong'' by the bank), is the Hong Kong–based Asia-Pacific subsidiary of the HSBC banking group, for which it was the parent entity until 1991. The largest bank in Hong Kong, HSBC operates branches and offices throughout the Indo-Pacific region and in other countries around the world. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar. The Hongkong and Shanghai Bank was established in British Hong Kong in 1865 and was incorporated as The Hongkong and Shanghai Banking Corporation in 1866, and has been based in Hong Kong (although now as a subsidiary) ever since. It is the founding member of the HSBC group of banks and companies, and, since 1990, is the namesake and one of the leading subsidiaries of the London-based HSBC Holdings. The company's business range ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boustead Singapore
Boustead Singapore Limited () is an engineering services group listed on the Singapore Exchange and headquartered in Singapore. The group's engineering divisions specialise in energy-related engineering and industrial real estate solutions. Boustead also has a geospatial technology arm which distributes Esri geographic information systems to major markets across Australia and South East Asia. Boustead is listed on the MSCI Global Small Cap Index for Singapore and the FTSE ST Small Cap Index. History Early history Edward Boustead, an English businessman, founded Boustead & Co in 1828. The trading company specialised in import and export, offering goods such as banca tin, spices, saps, rattan, medicinal herbs, silk and tea widely available in South East Asia in exchange for Western products like cloth, oil and machinery. With the development of a wide trading network in Singapore, trade credit and finance became increasingly important to banks, merchants, manufacturers and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore Dollar
The Singapore dollar (currency sign, sign: S$; ISO 4217, code: SGD) is the official currency of the Singapore, Republic of Singapore. It is divided into 100 cent (currency), cents (, , ). It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar. As of 2024, the Singapore dollar is the 13th most traded currency in the world. Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei according to the Currency Interchangeability Agreement between the Monetary Authority of Singapore and the Brunei Darussalam Central Bank, Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam). Likewise, the Brunei dollar is also customarily accepted in Singapore. History The Spanish dollar, Spanish-American silver dollar brought over by the Manila galleons was in wide circulati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Spending
Consumer spending is the total money spent on final goods and services by individuals and households. There are two components of consumer spending: induced consumption (which is affected by the level of income) and autonomous consumption (which is not). Macroeconomic factors Taxes Taxes are a tool in the adjustment of the economy. Tax policies designed by governments affect consumer groups, net consumer spending and consumer confidence. Economists expect tax manipulation to increase or decrease consumer spending, though the precise impact of specific manipulations are often the subject of controversy. Underlying tax manipulation as a stimulant or suppression of consumer spending is an equation for gross domestic product (GDP). The equation is GDP = C + I + G + NX, where C is private consumption, I is private investment, G is government and NX is the net of exports minus imports. Increases in government spending create demand and economic expansion. However, government spendin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overseas Union Bank
United Overseas Bank Limited (), often known as UOB, is a Singaporean regional bank headquartered at Raffles Place, Singapore, with branches mostly found in Southeast Asia countries. It is one of the three "big local banks" in the country, the other two being DBS Bank and Oversea-Chinese Banking Corporation (OCBC). First Founded during the Great Depression in 1935 as United Chinese Bank (UCB) by a group of Hoklo businessmen including Sarawak-born Wee Kheng Chiang, the bank operated from a single branch bank in rented premises of Bonham Building, located in Boat Quay, close to the Singapore River. It was principally engaged in short-term loans to a segment of local businessmen, to be precise, Hokkien Chinese businessmen in Singapore. UOB is the third largest bank in Southeast Asia by total assets. The bank provides personal financial services, commercial banking, private banking and asset management services, as well as corporate finance, venture capital and insurance servi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
POSB Bank
POSB Bank, often known as POSB, is a Singaporean bank offering Retail banking, consumer banking services. It is the largest and List of oldest banks in continuous operation#Banks established in the 19th century, oldest local bank in continuous operation in Singapore with over four million customers. Established on 1 January 1877 as the Post Office Savings Bank (),Consulton Research Bureau. (1977)The first hundred years of the Post Office Savings Bank of Singapore.Singapore: The Post Office Savings Bank, pp. 10–11. (Call No.: RSING 332.22095957 CON). Retrieved August 22, 2016. POSB currently operates as part of DBS Bank after being acquired on 16 November 1998. Having served generations of Singaporeans for more than 145 years, it is known as the "People’s Bank", and prides itself on being "neighbours first, bankers second". History Founded on 1 January 1877 as the Post Office Savings Bank (POSB), the bank was part of the Postal Services Department in the Straits Settleme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
