Counting cards and making a comeback in Singapore

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Underdog stories are some of the most well-worn in Hollywood and for good reason.

Audiences love cheering for David taking on Goliath, probably as it’s easier to identify with the plucky, slingshot-wielding character rather than the lumbering, frightening giant.

For the hero to overcome the odds stacked against them, they typically need some secret power that isn’t revealed to the audience initially.

Harry Potter has his unique magical lineage, Neo is “The One” in The Matrix and Billy Beane of Moneyball fame has a mystical geek (aka Jonah Hill) working for him, apparently. The movie’s turning point is typically when the hero’s special ability is revealed, leading to the Big Bad’s downfall.

DCS Card Centre – you might be more familiar with its previous name, Diners Club Singapore – is taking on several Goliaths in the cashless payments sector. The 50-year-old firm is unlikely to slay Visa or Mastercard with a slingshot, but partnering with them and other payment firms could certainly give its market share a boost.

Apart from collaborating with Visa and Mastercard, DCS has an ace up its sleeve – a trump card, you might say.

Today we look at:

• A fintech pioneer in Singapore plots a comeback
• Alipay+ enters the Philippines amid tourism revival
• Other newsy highlights such as the launch of a startup aiming to bring carbon trading to the masses and Ravi Menon’s impending exit as managing director of the Monetary Authority of Singapore.

Premium summary

Trump card

Image credit: Timmy Loen

DCS Card Centre – formerly Diners Club Singapore – introduced cashless payments in the city-state in the 1970s before losing out to global payment goliaths like Visa and Mastercard.

Now though, the cashless payments pioneer is betting it can reverse that decline, thanks to a trump card it holds.

Ant goes marching into the Philippines

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