Archive
China Releases Facial Recognition Payment Guidelines Amidst Growing Privacy Concerns
Amid growing adoption of facial recognition payments, the Payment & Clearing Association of China has released self-discipline guidelines aimed at tackling associated risks, reports Chinese media outlet Caixin. The guidelines detail several principles related to user consent and data collection
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Embedded Finance Crucial for Future of Fintech
Technology is transforming the banking and financial services industry and this is just the beginning. As the sector moves towards open banking and APIs, banks will need to collaborate with fintechs to remind relevant and address the many challenges arising,
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How Hong Kong’s Financial Regulator is Doubling Down on Data Science
It’s evident to observers of the space that fintech has been one of Hong Kong Monetary Authority’s priorities in the recent years. Over the past few years, the regulator has introduced many new initiatives including the widely known Faster Payment
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PayPal Expands Further into China with UnionPay Partnership
UnionPay International and PayPal, today announced a global partnership where both companies will work together to accelerate the growth of their networks. As part of the agreement, PayPal has committed to supporting UnionPay’s acceptance globally where PayPal is accepted –
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Hong Kong and Thai Regulators Unveils Pilot Results on Central Bank Backed Digital Currency
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) announced the outcomes and published a joint report on Project Inthanon-LionRock. The two authorities initiated Project Inthanon-LionRock to study the application of CBDC to cross-border payments. A THB-HKD
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South East Asia Ranked Most Popular for Mobile Payments for Chinese Tourist
Nielsen and Alipay have jointly released a new report on the latest trends in Chinese outbound tourism and the consumption habits of Chinese travelers for the third consecutive year. Surveying 4,837 Chinese travelers and 547 overseas merchants, the report finds
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One In Two Hong Kongers Are Open To Try Virtual Banks
One in two Hong Kongers are likely to open an account with a virtual bank with a tenth saying they will definitely do so, according to a study by Visa. The Future of Commerce: Consumer Payment Attitudes Study by Visa
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An Overview of Digital Wallets in Hong Kong in 2020
Hong Kong has been pushing for greater development and adoption of digital and mobile payments with the Hong Kong Monetary Authority (HKMA) beginning issuing stored value facilities (SVF) licenses in 2016 and virtual banking licenses in March 2019. Over the
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Ant Financial to Host Major Fintech Conference in Shanghai
Ant Financial best known for its payments platform Alipay, today announced the launch of the INCLUSION Fintech Conference, an event that aims to bring together the global financial and technology community, to envision the future of a world that’s more
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Top 9 Upcoming Fintech Events in Hong Kong in 2020
Despite political unrest, the Hong Kong startup ecosystem has continued to grow with the number of fintech companies based in the territory now exceeding 600. Hong Kong fintech company have raised US$1.1 billion over the past five years, and the
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