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Nur Atifi · · 1 min readIn brief: Singapore Life acquires fintech platform Canvas
Singapore’s fintech company and life insurer Singapore Life is stepping into the prepaid card space with the recent purchase of Canvas from local payments platform Yolopay.
Source: Singapore Life
Through the acquisition, former Yolopay partner Liam McCance joins Singapore Life as chief marketing officer and head of its new fintech venture division.
“Singapore Life intends to leverage on [value-added fintech] innovations via acquisitions, investments, and partnerships with companies aligned with Singapore Life’s ‘digital-first’ ethos. We expect to make more collaborative announcements in the near future,” McCance revealed.
See also: A former HSBC insurance CEO started his own insurtech firm. It’s already profitable.
The Canvas-branded Visa prepaid card gives parents a cashless method to issue pocket money and manage spending limits. Parents can adjust the limits by the hour or even completely disable use via the Canvas mobile app, which will be available in mid-2019.
Editing by Charmaine de Lazo
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