China
WeChat Broaden Digital Yuan Acceptance, Accelerating CBDC Adoption
China-based messenger app WeChat has announced that it has expanded digital yuan payments to its short video and mini-app platforms. This update is an extension of the e-CNY payments option that WeChat has already supported since early 2022. The move
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Blockchain Enters New Stage of Development in China, New Report Shows
China, a world leader in blockchain, is entering the next stage of the industry’s development with blockchain being now increasingly integrated with other emerging technologies, including artificial intelligence (AI), big data and the Internet of Things (IoT), a new report
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Airwallex Clinches E-Payment License in China via Acquisition
Cross border payments firm Airwallex has secured a payment business license in China, following the successful acquisition of a 100% stake in Guangzhou Shang Wu Tong Network Technology, an information and online payment services company. Shang Wu Tong Network Technology
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SMEs Remain Confident in Growth Prospects of the Greater Bay Area
In the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), small and medium-sized enterprises (SMEs) are confident in the growth prospects of the region, an optimism that’s evidenced by their plans to invest in capital expenditures and expand their business, a new
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Huawei Wallet Rolls Out Beta for Virtual Medical Card Feature in China
Huawei has launched a beta version of its wallet app which will allow its users to test an early version of the virtual medical insurance card. The virtual medical insurance card feature is jointly developed by Huawei Wallet, the National
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livi Launches QR Payments Accepted at Over 29 Million Merchants in China
Hong Kong’s livi bank has launched its QR payment feature for the Mainland market, allowing its customers to make cross-border payments there as well as other popular travel destinations such as Japan, South Korea and Thailand. In mainland China, livi
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Jack Ma Steps Down From Ant Group: The Inside Story
Jack Ma, the billionaire founder of Alibaba Group, is giving up control of the fintech unit Ant Group after China cracked down on the tech giant. Ma, one of China’s wealthiest men, has agreed to give up his voting rights
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China’s E-Commerce: Resilient Amidst Economic Downturn
With a population of 1.4 billion, China has all the makings of a hotbed for e-commerce, a match made in heaven. According to Global Data, the most populous country has a compound annual growth rate of 13.3 percent between 2018 and 2021,
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Thunes Rolls Out Instant Payments for Weixin’s 1.3 Billion Users
Global cross-border payments network Thunes has partnered with Tencent Financial Technology, Tencent’s fintech arm, to allow members of its global network to send international payments to Weixin users. Weixin, with its international version known as WeChat, facilitates one of China’s
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China To Dominate The Insurtech Industry: New Report Shows
A new report estimated that China’s insurtech market would grow 36.88 percent CAGR between 2022 and 2031 to reach 34.05 trillion yuan (US$4.76 trillion). In 2021 alone, the market’s revenue was 1514 billion yuan (US$211.7 billion), according to Research Nester,
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