Connect with us

Austin, TX

US-based Episode Six is banking on Hong Kong demand for virtual payments, SME lending

Published

on

US-based Episode Six is banking on Hong Kong demand for virtual payments, SME lending


Episode Six, or E6, an Austin, Texas-headquartered global provider of payment processing and digital ledger infrastructure for banks and financial institutions, will expand its footprint in Hong Kong this year on the back of growing demand for virtual-payment technologies, the company’s executives told the Post.

“We’re seeing increasing demand for virtual card payments, which our platform is perfectly suited for,” said John Mitchell, E6’s co-founder and CEO. “We’re also seeing an increase in demand for our virtual account, and we’re expected to have growing penetration around these two products in Hong Kong throughout the rest of the year.”

“We know there’s a push from the regulators to see more innovative working capital solutions deployed to SMEs, and we have a product that takes the concept of ‘buy now, pay later’ [BNPL] but industrialises it and makes it fit for purpose for commercial banks to offer to SME customers,” Muse-McKenney said, adding that there is some “good traction” taking place in the market, and E6 is looking to officially launch the new product in the second half of this year.

BNPL is a short-term instalment loan that allows customers to make purchases and pay for them later, without being charged interest.

E6, whose partners include PayMe, HSBC’s mobile payment service, and MasterCard, is also confident about the growth potential of the Asia-Pacific market.
PayMe, HSBC’s mobile payment service, is one of E6’s partners. Photo: Handout

“The problem across the region is that payments technology needs to be modernised,” said Mitchell. “Asia-Pacific is growing for E6, and some of the new payment products require technology that’s not readily available in the markets that we’re entering, whether that’s around contactless QR code payments, or interoperability between payment schemes.”

Advertisement

Both executives also highlighted Japan as “high on the list” for the start-up.

“Japan is a particularly compelling market for E6,” said Mitchell, adding that E6 has been on the ground in Japan since 2017. With positive macroeconomic trends and a fintech-friendly regulatory environment in Japan, financial institutions are investing in modernising their payment infrastructure, he added.

Ant Group adds 14 foreign payment apps in access boost for Hong Kong merchants

“Financial institutions in Asia have had more direct competition from fintechs, and thus they have had to wake up sooner and are more advanced in their thinking in terms of the digital experiences they need to create,” said Muse-McKenney.

“The payments innovation landscape in Asia, the idea of faster payments, is a really progressive agenda that’s being pushed, and so banks and financial institutions more broadly are at the forefront of payments innovation, whereas within [Europe, the Middle East and Africa] and North America, they’re more catching up.”

Advertisement

While also steadily expanding in Europe and North America, Asia remains E6’s largest market from both a revenue and accounts perspective, since the company was founded in 2015, Mitchell said.

Hong Kong SMEs more confident of growth than their Singapore, mainland peers

E6 in late April announced a partnership with Singapore-licensed financial institution DCS Card Centre that will allow fintech companies to issue their own branded credit cards through E6’s customer interface.

Powered by E6’s card issuance technology, the solution reduces the process needed to launch a new credit card from up to six months to a matter of weeks. It also incorporates access to a virtual account that allows for top-ups with fiat currency through bank transfers, or with digital assets via DCS tokens, which are directly issued by DCS.

With a presence in more than 35 countries, E6 completed its most recent financing round in March 2023, raising US$48 million from investors led by Avenir. E6’s other existing backers include HSBC, Mastercard, SBI Investment Co and Anthos Capital.

Advertisement



Source link

Austin, TX

Austin Police Department updates procedures after controversial deportation

Published

on

Austin Police Department updates procedures after controversial deportation


AUSTIN, Texas — An update to the Austin Police Department’s (APD) procedures outlines that officers are not required to contact U.S. Immigration and Customs Enforcement (ICE) when a person is found to have an ICE administrative warrant if they have no other arrestable charge.  

The update follows a controversial deportation from January, when a woman’s disturbance call to APD led to her detainment, alongside her 5-year-old child, who is a U.S. citizen.  

The incident led to questions from the community regarding the way APD is supposed to interact with ICE.  

In a March 4 memo, APD Police Chief Lisa Davis said that the directives provided by ICE administrative warrants could be confusing in their wording.

Advertisement

According to Davis, officers have not historically regularly encountered administrative warrants while using the National Crime Information Center database, which is used to conduct identity checks. However, in 2025, federal agencies began entering a large volume of administrative warrants into the system.

According to the memo, administrative warrants are formatted in a way that looks similar to criminal warrants in the system.

The APD General Orders have been updated to clearly define the difference between criminal warrants and ICE administrative warrants, as well as specific instructions for how ICE administrative warrants should be handled moving forward.

“APD recognizes the sensitivity of this issue, not only within our city but across the nation. These policies were updated to provide clarity to our officers, ensure compliance with state law, and maintain officer discretion guided by supervisory oversight and operational consideration,” Davis said in the memo.

The updated procedures instruct officers to contact their supervisor when a person is found to have only an ICE administrative warrant, but no other arrestable criminal charge. From there, the officer or their supervisor may contact ICE, but is not required to.

Advertisement

“Austin Police and City of Austin leadership share a paramount goal for Austin to be a safe city for everyone who lives, works, or visits here,” Davis said in the memo. “We particularly want to ensure that anyone who witnesses or is the victim of a crime feels secure in contacting the police for help.”

According to the memo, the entire APD staff will be required to complete new training regarding these updates.  

“In concert with the policy updates, APD is launching a public webpage to help people understand their rights and provide links to resources available from the City of Austin and community organizations, such as Know Your Rights training,” Davis said in the memo. “The webpage will also include information on the option of using APD Victim Services as an alternative to calling 9-1-1, when appropriate, and links to all general orders and policies related to immigration.”



Source link

Advertisement
Continue Reading

Austin, TX

Texas Plans Second Execution of the Year

Published

on

Texas Plans Second Execution of the Year


Cedric Ricks spoke in his own defense at his 2013 murder trial, something most defendants accused of a terrible crime do not do. Ricks confessed that he had killed his girlfriend, Roxann Sanchez, and her 8-year-old son. He admitted he was aggressive and had trouble controlling his anger, stating that he was “sorry about everything.” […]



Source link

Continue Reading

Austin, TX

Will the rest of Austin allergies seasons be as bad as cedar this year?

Published

on

Will the rest of Austin allergies seasons be as bad as cedar this year?


Austin had a particularly itchy and drippy cedar fever season to start the year. Many winter days, from late December into February, had high or very high ashe juniper (aka cedar) pollen counts. 

Central Texas has a year-round allergy season with mold popping up at any time. For the more traditional spring and fall allergy seasons, forecasters at AccuWeather are predicting some of the allergens across the country will be worse this year than average. 

Texas, though, is a different story.

For grass allergies, which happen now through September, AccuWeather estimates Austin will have an average season. However, just west of the Interstate 35 corridor in the Hill Country to almost El Paso, that season is expected to be worse than normal. 

Advertisement

“Texas may experience above-average grass pollen for a few weeks,” AccuWeather’s allergy report said, “though the season could be shorter-lived compared to northern areas.” 

It all depends on the weather

How much rain we get in the next six months and the perennial Texas heat will all affect the growing season for grasses and weeds, as well as the amount of pollen trees produce. The Farmers’ Almanac and the Old Farmers Almanac are both predicting a wetter and warmer spring.

Rain helps plants grow, which can increase pollen production over time. However, rainfall during allergy season can also bring temporary relief by washing pollen out of the air. That’s what we’re expecting this weekend, with our first meaningful rain chance in nearly three weeks. Tree and weed pollen levels might briefly drop, but mold could spike because it thrives in damp, humid weather. 

If spring continues with excessive heat like we saw in February, it could limit the growth of some plants and trees. Extreme heat can reduce how much they grow, and how much pollen they produce. On the other hand, if we get a healthy balance of rain and only slightly above-normal temperatures — not extreme heat — pollen counts could climb. That’s especially true as we head into April, typically our windiest month of the year, which helps spread pollen more easily.

How can you treat allergies in Austin?

If you are feeling the effects of allergies, here are some things you can do to lessen them: 

Advertisement
  • Start taking allergy medication at least two weeks before your allergen’s season is supposed to start. Keep taking your allergy medication throughout your allergen’s season, even on low-pollen days.
  • Vary your allergy medication. You can take a nasal spray, an eye drop and an oral antihistamine at the same time to treat the different symptoms. If one kind of allergy medication isn’t working, consult your doctor about whether you should add a second one or switch out the medication. 
  • Take a shower before going to bed.
  • Take off outside clothes or shoes when you get into the house.
  • Do a daily nasal wash such as a neti pot or saline spray.
  • Consider seeing an allergist to get drops or shots to lessen your reaction to the allergen. 

Consider these household tips to improve your chances of keeping allergens away:

  • Change the filters in your house regularly during cedar fever season.
  • Vacuum and sweep regularly. 
  • Change your sheets, especially your pillow regularly. 
  • Keep doors and windows closed.
  • Clean out the vents in your home.
  • Have your home tested for indoor allergens such as mold.
  • Wash and brush the animals in your house to lessen the amount of allergens in the air. 
  • Wear a mask outside or inside while you are trying to lessen the pollen or mold indoors.



Source link

Continue Reading

Trending