Mobile Payment

A Snapshot of Fintech in Hong Kong in 2019

Hong Kong is expected to see a boost in fintech activity after a relatively disappointing year in 2018 as the region saw a sharp dip in the total value of investments. According to Accenture, this was due to new measures

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Tencent’s Fintech & Cloud Unit Generates US$ 3.1 Billion in Q1 of 2019

In their quarterly results announcement, Tencent revealed that its fintech and cloud services generated RMB21.8 billion (US$ 3.1 Billion) in the first quarter of 2019, a 44% year-on-year growth. This quarter marks the first time the Chinese internet giant is

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WeChat Pay Will Start Terminating Accounts Caught Dealing with Crypto

WeChat Pay, one of China’s most popular e-wallet providers, has just updated its payment policy to ban cryptocurrency transactions. The move was first noticed by founding partner of crypto investment firm Primitive, Dovey Wan in a tweet. Urgh, Wechat just

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QR Codes Are Out, Soon You’ll Only Need to Show Your Face to Pay in China

While Sweden is trialling inserting microchips into its citizens as a new way to pay, China is opting for a less invasive method — your face. In Shenzhen, a local subway operator is testing several advanced technologies powered by the

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TNG Wallet Partners Visa For Prepaid Solutions in Southeast Asia

TNG Fintech Group has just teamed up with Visa to launch TNG Wallet-integrated solutions into six markets across Asia. The goal of this move is to capitalise on areas with growing digital wallet traction. They officially revealed their partnership during

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HSBC Unveils PayMe for Business App in Initial Beta Test

HSBC’s PayMe announced the launch of a beta test programme for PayMe for Business, a new person-to-merchant (P2M) payments app in Hong Kong. The beta test will involve 15 businesses from a diverse range of sectors from food and beverage,

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Apple Pay Emerges as Preferred Mobile Wallet in Hong Kong: Study

Apple Pay have emerged as the most popular mobile wallet in Hong Kong with about 29% of residents saying it was their main mobile wallet, according to the 2018 Hong Kong Retail Banking Satisfaction Study by JD Power, a global

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Competition Heats up for Japan’s Mobile Payments Market

Mobile payments is rapidly becoming a dynamic market in Japan as the government pushes to increase cashless payments to 40% of transactions by 2025 from 20% in 2016. Japan is a highly cash-dependent society with cash in circulation amounting to

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Multi-Currency Travel Cards for China Nationals

With the Chinese New Year (CNY) period fast approaching, outbound travel from China is expected to see strong growth in the Asia Pacific region. In fact, a Hurun report found that 64% of affluent Chinese planned to travel overseas during the CNY

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A Snapshot of Hong Kong’s Emerging Mobile Payments Scene and The Players

70% of Hongkongers said they have never paid for something using their smartphone, revealed a survey conducted by the Hong Kong Productivity Council in 2018. Despite the plethora of mobile payment options popping up in the city, on 23% surveyed

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