A brief introduction to MCC code and why it matters to consumers and businesses

4 important numbers that you need to know, besides the winning combination for our weekly 4D lucky draws.

The Merchant Category Code (MCC Code) is a 4 digit number listed in the ISO 18245 standard for retail financial services. …


How a pandemic has shaped our preferred payment methods

This article is written based on a Singapore payments report by Milieu, who conducted a study on >1,700 respondents, aged 16 and above, in June 2021. We will deep dive into how a pandemic has shaped Singaporeans’ payment preferences, and the motivations behind it.


European regulation for electronic payment services

What is PSD2?

Payment Services Directive (PSD2) is a set of changes that regulates electronic payments across Europe. It establishes a framework that allows more ways to exchange payments easily and securely.

The idea is to make consumer banking data available to 3rd parties such as merchants and fin-tech companies, which allows them…


A brief comparison between Tokenisation and Encryption

What is Tokenisation?

Tokenisation protects sensitive data by replacing it with an algorithmically generated number called a token.

An example would be Credit card Tokenisation, where the customer’s Primary Account Number (PAN) is replaced with a string of numbers, called a token. …


An introduction to Cash Advance and why you shouldn’t use it

What is Cash Advance?

Cash Advance is the process of obtaining cash using a credit card. With Cash Advance, you can instantly turn the credit limit on your Credit Card into cash. This would come in handy in times of emergency or if there’s a need for extra cash for your home furnishing, etc.

Cash Advance Fee


An introduction to Charge Cards and how it differs from Credit Cards

What is a Charge Card?

A Charge Card doesn’t charge interest, but requires the user to pay their balance in full upon receipt of their monthly statement. There is no pre-set spending limit, granting users access to the purchasing power for big ticket items.

Currently, American Express is the only major issuer of Charge Cards:


An introduction to Chargebacks and how to manage it well

What are Chargebacks?

A Chargeback is a transaction reversal that happens in a payment dispute between a customer and an online merchant. It may sound like a refund, but they are slightly different.

With a chargeback, the customer contacts the card-issuing bank to reverse the transaction. If the card issuer confirms that the…


A brief introduction of Ethereum and the mechanisms behind it

What is Ethereum?

Ethereum is a blockchain technology that distinguishes itself from bitcoin as a programmable network.

Ethereum has its own cryptocurrency, called Ether, and its own programming language, called Solidity. Ethereum users can create, publish, monetize, and use applications on the platform, with Ether as the payment currency.

What are “Smart Contracts”?

While both Bitcoin and…


A brief introduction of Bitcoin and the mechanisms behind it

What is Bitcoin?

“Bitcoin is a peer-to-peer electronic cash system, that allows for online payments to be sent directly from one party to another without going through a financial institution.”

The Global Financial Crisis in 2008 has caused a lost of distrust between people and financial institutions. …


A brief overview of the payment methods in Singapore

In Singapore, Credit card remains as the undisputed king, with 1/3 of the respondents indicating Credit card as their preferred payment method.

Singaporeans tend to hold onto multiple credit cards, to clock the different kinds of rebates that banks have to offer. …

Kenneth Lee

Everything payments.

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