Payments
HKMA Picks 16 Firms for Retail CBDC Pilot Programme ‘e-HKD’
The Hong Kong Monetary Authority (HKMA) has commenced its e-HKD Pilot Programme with a total of 16 firms selected from the financial, payment and technology sectors whom will participate in the first phase this year. The firms include Alipay HK,
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Airwallex and Expedia to Offer Hotel Discounts for Business Travellers
Cross border payments firm Airwallex has partnered with online travel company Expedia Group to help customers save when booking hotel stays amidst the surge in both business and personal travel. Through this partnership, existing and new Airwallex customers will receive
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Fintech Reaches Mainstream Adoption in Hong Kong with 94% Penetration
In Hong Kong, fintech is reaching mainstream adoption among consumers. Digital payments are becoming the norm in people’s daily lives, virtual banking and wealthtech are gaining rapid traction, and virtual assets are emerging as a legitimate new asset class that
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Bank of Korea, Samsung to Research Use of CBDCs for Offline Payments
The South Korean central bank has reportedly partnered with tech giant Samsung Electronics to research Central Bank Digital Currencies (CBDCs) for offline payments. According to local media The Korea Herald, the Bank of Korea (BOK) and Samsung has signed a
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Macau Pass Officially Approved to Provide Acquiring Services to Alipay+
The Macau Pass has been officially approved to provide acquiring services to Alipay+, a suite of cross-border payments and marketing solutions operated by Ant Group. This means that in addition to Alipay, AlipayHK, WeChat Pay, Simple Pay and other e-wallets
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ZA Bank Steps up Security When Users Bind Their Visa Cards With Digital Wallets
Hong Kong’s virtual bank ZA said that its users are now required to complete additional authentication when binding ZA Card to new digital wallets. The new measure for contactless mobile payments seeks to offer a more secure spending experience and
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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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Are We Seeing the End of the “Growth at All Cost” Era?
2022 was a trying year for the global fintech industry, which faced several macroeconomic challenges, including rising inflation, skyrocketing costs of living and a looming global recession. Venture capital (VC) funding plummeted 46% last year compared with 2021 as investors
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Airwallex Rolls Out Its Global Payments Services in Canada
Airwallex has announced the launch of its global payments services in Canada, enabling local businesses to access its key offerings. This includes local currency accounts in over 12 currencies, a multi currency wallet in 44 currencies and payouts to 150
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Government Reminds Hong Kong Motorists to Set Up E-toll Accounts
The Transport Department (TD) issued a reminder to those who have received a vehicle tag but not yet opened an HKeToll account to do so. They will need to open an account and set up their payment option so that they
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