US market hits 1 billion EMV chip cards milestone behind Asia

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US card issuers have surpassed the 1 billion EMV chip cards mark to take second place in total EMV cards deployed, behind the global leader, Asia Pacific.

Now the shift to EMV and chip-card transactions is almost complete, with 1 billion EMV cards in circulation in the US at the end of 2019 and close to 10 billion globally, according to EMVCo.

EMVCo, the governing body that manages EMV card interoperability, released its December 31, 2019 statistics which revealed that the US had 1.074 billion EMV chip-enabled credit, debit and prepaid cards deployed compared to 1.04 billion for Western Europe,

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Swiss Re boosts Asia leadership with slew of appointments

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Swiss Re has announced four key appointments for its Asia leadership team, a move which it says will add to the executive bench strength supporting its regional expansion.

Anna Lee (pictured) has been appointed head of new business development, property & casualty (P&C) for Southeast Asia, India, Korea, Hong Kong and Taiwan (SID), effective June 01. Based in Hong Kong, she will report directly to Victor Kuk, Swiss Re’s head of P&C reinsurance, SID, according to a statement from Swis Re.

Lee has spent over 17 years of her career at Swiss Re, holding senior positions such as head of

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HSBC sees double-digit wealth asset growth in Asia by 2023

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HSBC headquarters is seen at the financial Central district in Hong Kong, China September 6, 2017. REUTERS/Bobby Yip

HONG KONG (Reuters) – HSBC Holdings PLC (HSBA.L) expects to achieve double-digit asset growth in its newly combined wealth business in Asia Pacific in the next three years, as it looks to grab a bigger share of the growing rich population, the unit’s regional head told Reuters.

The Asia-focused lender in February announced the merger of its global private banking and retail wealth businesses to create a new wealth and personal banking unit, part of a radical strategy overhaul at

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Parts of Asia that relaxed restrictions without a resurgence in coronavirus cases did these three things

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Couples wearing face masks amid concerns over the COVID-19 novel coronavirus walks through a market in Seoul on April 22, 2020.

Ed Jones | AFP | Getty Images

The tulips were blooming in Seoul and Dr. Jerome Kim was strolling in his government-issued KF-94 mask with his wife when he got a text message alerting him to a confirmed coronavirus infection in his neighborhood.

It was early April and South Korea made headlines around the world for effectively containing the first major Covid-19 outbreak outside of China by testing broadly throughout the population and tracing contacts of infected individuals. But

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