Mobile Payment

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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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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Taiwan to Launch Contactless Payment on Airport Metro Line

Taoyuan Metro company will launch contactless payment via bank cards on January 16, 2020 to serve passengers travelling to and from the capital city of Taipei and Taoyuan International Airport. The tap-and-go service will open to holders of VISA, Mastercard,

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Tourist in China Can Finally Use Alipay, Here’s How

China’s leading mobile payments platform Alipay announced that its services are now finally available to international travelers in China. Tourists visiting China will now be able to download and use the app during the trip giving them access to Alipay’s

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UnionPay Accounts for 45% of Payment Cards Globally

New research from RBR shows that there were 16 billion payment cards in circulation at the end of 2018, up by 10% since a year earlier. RBR’s Global Payment Cards Data and Forecasts to 2024 research indicates that financial inclusion

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PayPal Becomes First Foreign Payments Firm to Enter China Through Acquisition of GoPay

American online money transfer firm PayPal recently secured approval from the People’s Bank of China to purchase a stake in local payments firm GoPay. Paypal acquired 70% GoPay for an undisclosed sum and the transaction is expected to be closed

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UnionPay Bets on Wirecard to Support Global Expansion

UnionPay, the world largest card scheme formed a partnership with Wirecard a global player in the payments space. This agreement will see Wirecard supporting UnionPay’s ongoing international expansion and Wirecard’s growth in China. With over 7.59 billion cards issued under

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Tencent’s WeChat Pushes for Mainstream Adoption of Facial Recognition Payment

China has been quick to embrace facial recognition, a technology that’s already being used for making payments at numerous shops, supermarkets and restaurants. The latest development in the field comes from China’s Internet giant Tencent, which showcased last month, at

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New IMF Paper Explores the Rise of Digital Money

As digital money grows in popularity, banks and credit card companies are facing increased competition from technology companies which are coming up with new ways to transact that are easier, more convenient and cheaper. Cash and bank deposits are battling

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LINE Pay Begins Integrating WeChat Pay

LINE Pay Corporation, operator of the LINE Pay mobile money transfer and payment service available on the LINE messaging app, announced recently that its merchants have been integrating WeChat Pay since early August. Once system integration is complete, WeChat Pay

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