Revolut taps former GXS Bank CEO for Singapore advisory board. The three-member panel will advise the fintech on regulatory engagement, business strategy and sustainable growth. Get the hottest Fintech Singapore News once a month in your Inbox Revolut has tapped former GXS Bank CEO Charles Wong and two other senior leaders for its new Singapore advisory board. Wong joins former Minister of State Teo Ser Luck and corporate governance specialist Yvonne Aw on the three-member panel. They will advise the fintech's local leadership on regulatory engagement, business strategy and sustainable growth as it expands its products and workforce in the market. Raymond Ng, CEO of Revolut Singapore and Southeast Asia, said, "We are strengthening our local operating model to ensure robust oversight as our business grows. Ser Luck, Charles and Yvonne bring deep expertise across public policy, banking, governance and risk management. Their collective experience will strengthen local accountability and governance, while supporting our long-term growth and commitment to the high standards expected of a trusted financial institution." Teo previously served as Minister of State for Manpower and Trade and Industry. He was also president of the Institute of Singapore Chartered Accountants from 2022 to 2026 and became an adviser after completing his four-year term. Wong has more than 25 years of experience in retail banking, global markets and digital banking. He led the build and launch of GXS Bank Singapore as its founding CEO and previously held senior roles at Citibank. He now heads Simon-Kucher's retail and digital banking practice in Asia. Aw brings experience in corporate governance, audit and risk management. She serves as an independent non-executive director and chairs the Audit and Risk Committee at Sompo Insurance China. Revolut serves more than 80 million retail customers and hundreds of thousands of business customers worldwide.

GXS Bank launches cashback credit card with Grab alliance. Digital lender GXS Bank introduced a credit card in Singapore offering 10 per cent cashback in GrabCoins alongside 1.75 per cent return on Singtel payments. SINGAPORE, Aug. 17, 2026 /PRNewswire/ - Earning cashback just got even simpler for consumers in Singapore with the launch of the GXS Credit Card. Customers can earn up to 10 per cent instant cashback in GrabCoins on all Grab spending, with higher cashback rates unlocked as monthly Grab spending increases, making it one of the best credit cards in the market for Grab users. Customers who pay their Singtel bills with the GXS Credit Card will also earn 1.75 per cent unlimited cashback with no minimum spend requirement or cashback cap. This means that they will earn cashback for every dollar that they pay for their Singtel bills. For all eligible local non-Grab and Singtel bill payments, the GXS Credit Card offers 1.75 per cent unlimited cashback on all eligible transactions. To enjoy cashback on these spends, customers simply need to spend a minimum of S$500 within their monthly billing cycle. With the GXS Credit Card, customers can enjoy: * Unlimited instant cashback in GrabCoinson eligible Grab spending at home or overseas, with higher cashback rates unlocked as monthly Grab spending increases. * Instant cashback credited in GrabCoins immediately after every eligible Grab transaction across Grab rides, GrabFood, GrabMart and GrabExpress * No minimum spend required to earn cashback on Grab spending. * No foreign exchange fees on all overseas spend * 1.75 per cent cashback on all eligible Singtel bill payments, with no minimum spend requirement and no cashback cap. * 1.75 per cent unlimited cashback on all other eligible local spending (non-Grab and non-Singtel bills), subject to a minimum monthly spend of S$500, with no cashback cap. Earn GrabCoins and offset your Grab spend instantly with the GXS Credit Card Grab customers can earn 3, 5 and 10 per cent of instant cashback in GrabCoins when they use the GXS Credit Card for Grab rides, GrabFood, GrabMart and GrabExpress. There is no minimum spend required to earn cashback on Grab spending, while higher cashback rates are unlocked as monthly Grab spending increases. Customers also enjoy no foreign exchange fees on overseas spending, while continuing to earn cashback based on their applicable Grab monthly spending tiers. More details as illustrated in the table below. How cashback works on the GXS Credit Card: | Spending Category | Monthly Spend Bracket | Cashback Rate & Type | Eligibility | | Local Grab Spends | Any amount under $500 | 3% (Base GrabCoins Rewards) | Base tier. No minimum spend required. | | Local Grab Spends | From S$500 onwards | 5% back in GrabCoins, comprising: * Base GrabCoins Reward of 3% back in GrabCoins AND * Bonus GrabCoins Reward of 2% back in GrabCoins | * Total non-Grab spend of at least S$500/month | | Local Grab Spends | From S$1,000 onwards | 10% back in GrabCoins, comprising: * Base GrabCoins Reward of 3% back in GrabCoins AND * Bonus GrabCoins Reward of 7% back in GrabCoins | * Total non-Grab spend of at least S$500/month | | Overseas Grab Spends | Any amount | 10% (GrabCoins) | No minimum spend, no cap. | | General / Off-Grab Spend | Any eligible spend | 1.75% (Cashback) | Requires a total minimum card spend of S$500/month. No cap. | Fuss-free cashback on Singtel bill payments Customers earn 1.75 per cent cashback on all eligible Singtel bill payments, with no minimum spend requirement and no monthly cashback cap. The same cashback rate also applies to other eligible Singtel spending, with no monthly cap and no need to activate bonus categories or register for promotions. The minimum card spend of S$500 within the monthly billing cycle will apply.

GXS enters credit card arena with new cashback card. Cardholders can link their card immediately to their Grab app from within the GXS app Published Mon, Aug 17, 2026 · 02:26 PM * The GXS Credit Card is different from GXS FlexiCard, with a minimum income requirement of S$30,000 per year to qualify. PHOTO: BT FILE [SINGAPORE] GXS Bank on Monday (Aug 17) launched a credit card with unlimited cashback subject to a minimum of S$500 monthly spend, targeting the credit card population in Singapore. The GXS Credit Card is different from GXS FlexiCard, with a minimum income requirement of S$30,000 per year to qualify. The FlexiCard does not have a minimum income requirement, but has a S$500 credit limit. This move is part of making the digital bank relevant to whatever the customer wants, said Jenn Ong, group head of retail, GXS. "Across all propositions, cash rebate is something that customers have always said that they want, but at the same time, we also don't want to have something just like a cash rebate," she said. GXS is leaning into its parent companies for its new credit card, offering up to 10 per cent rebate in GrabCoins for eligible transactions on Grab, as well as a 1.75 per cent rebate on Singtel bills and any other transactions. Cardholders can link their card immediately to their Grab app from within the GXS app. In trying to bring in parent companies, offering cashback in GrabCoins for Grab transactions made the most sense, said Ong. Customers can also apply for a GXS Credit Card in the Grab app, with the digital bank tapping the parent company's ecosystem for potential customers. Asean intelligence. Get insights into businesses across South-east Asia "Beyond the resources, support and network of Grab and Singtel, the insights that we glean from ecosystem data has enabled us to create products and experiences that are woven seamlessly into Grab and Singtel's user journeys," said GXS group CEO Lai Pei-Si. With this credit card, GXS has entered into the credit card space, behind its digital bank competitors in Singapore which have offered credit cards for a while. Lai sees this as less of a delay and more about following the product road map the digital bank has laid out. "We did want to make sure that we designed the right credit card for the right segment, and we took time to make sure that we understand what our users want before we go out - that it is the most relevant card that we have for our customers," said Lai. GXS has enough data to show that Grab or Singtel customers want to have such a credit card with these cashback rewards, she said. The digital bank is making the process as seamless as possible, including having a cashback reward tracker that shows the amount of cashback earned after each transaction in its app. The immediate focus is on getting the GXS Credit Card into people's wallets and convincing them to spend using it. "To us, when customers put all their purchases on it... that is a success," said Ong.