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DCS launches digital tech innovation business
Move aims to drive change via co-creation, Web3 payments, embedded finance, labs
The Asset 20 Feb 2024

Singapore-based DCS Card Centre (DCS) has launched DCS Innova business unit dedicated to spearheading digital innovation within the fintech space in the Asia-Pacific region, and a strategic move that, the company believes, will drive meaningful change in the payments industry.

The business unit is built upon four strategic pillars – co-create and scale, Web3 payments, embedded finance and labs.

The co-create-and-scale pillar forms the main focus where the enterprise actively seeks partnerships and engagement within the payments ecosystem to drive innovative initiatives that can generate new revenue streams.

The unit’s Web3 payments pillar aims to lead the evolution of next-generation payments, offering, the company argues, “unparalleled efficiency, security and global accessibility”. The company’s DCS Tokens can act as a bridge between Web3 and traditional card payments, providing a seamless and reliable payment experience that transcends the limitations of traditional financial systems. Notably, DCS Tokens has recently been listed on the Bitget digital asset service platform, offering stability and accessibility to individuals, corporates and merchants.

The embedded finance pillar is a realm where the unit actively seeks opportunities to integrate financial services into non-financial platforms via cards that will empower businesses to grow by enabling smooth access to financial services for their customers.

The labs pillar serves as an incubation hub, the company says, “to ignite the spark of ingenuity within the payment sector”. Through strategic partnerships, collaboration with fintech start-ups and engagement with tertiary institutes, the pillar aims to cultivate an environment of innovation and ideation and “propel the creation of cutting-edge solutions”.

Ceridwen Choo, a seasoned executive with a proven track record in global payment networks and fintech, has been appointed as the business unit’s CEO. Under her leadership, the unit will spearhead industry collaborations to explore new payment solutions that have the ability to seamlessly integrate across various aspects of the payment ecosystem.

“Today, disruptive technology has rapidly opened new possibilities for businesses to grow by integrating financial services into their core offerings, and for customers to enjoy greater flexibility and dexterity in how they manage their payments,” Choo states. “This is a need that we are well-positioned to serve; and together with the support of DCS and our partners, we will keep working towards driving innovation in payments.”

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