Payments
Octopus Integrates UnionPay, AlipayHK, and Alipay for Taxi QR Payments in Hong Kong
Octopus has announced the expansion of its QR payment services for taxis in Hong Kong. Starting from 25 January, approximately 21,000 taxi drivers in the region will be able to accept QR code payments from UnionPay, AlipayHK, and Alipay through
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Trip.com Taps UnionPay to Expand Payment Options for Global Travelers
UnionPay International has recently partnered with online travel agency Trip.com to provide more payment options for travelers. Under this partnership, Trip.com’s global sites will now accept UnionPay for all major transaction currencies, including but not limited to Hong Kong SAR,
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JCB and GLN Enable Korean Code Payments at Smart Code Merchants in Japan
Japanese international payments firm JCB has partnered with GLN to integrate Korean code payment services into Smart Code merchant locations across Japan by the end of the fiscal year 2023. This integration will enable Korean tourists using services such as
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JCB, IDEMIA, and Soft Space Advance to Phase 2 in Offline Digital Currency Project
Japanese international payments firm JCB along with French identity technologies company IDEMIA and Malaysian fintech Soft Space will be embarking on the second phase of their “JCB Digital Currency” (JCBDC) pilot project in early 2024. This initiative aims to experiment
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Hong Kong and Thailand Launch New Cross-Border QR Payment System
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have launched the FPS x PromptPay Link, facilitating cross-border QR payments between Hong Kong and Thailand. This service, effective from 4 December, allows travellers to make retail payments
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HKMA Launches Suspicious Proxy ID Alert for Faster Payment System
The Hong Kong Monetary Authority (HKMA) has rolled out the Suspicious Proxy ID Alert for the Faster Payment System (FPS). This initiative, launched on 26 November, enhances the system’s security by alerting users to potential fraud risks when conducting transactions
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Navigating APAC’s Financial Transformation for Customer and Competitive Gains
In a region experiencing rapid digitalisation, Asia-Pacific is projected to lead global cashless transaction growth and surpass 50% of the world’s volumes, according to the PwC Payments 2025 & Beyond report. Although presenting abundant growth opportunities, this dynamic landscape brings
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Mastercard’s Joint Venture Secures Bank Card Clearing License in China
Mastercard NUCC, a joint venture between Mastercard and NetsUnion Clearing Corporation, has been issued a bank card clearing license by the People’s Bank of China (PBOC). This development follows a thorough review process in line with the State Council’s decision
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Banking Circle and Ant Group Embark on a Liquidity Management Project
Luxembourg-based financial services company Banking Circle has tied up with fintech giant Ant Group to embark on a liquidity management project. The partnership aims to explore innovations related to tokenised deposits, with a focus on enhancing the efficiency and speed
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HSBC and Ant Group Successfully Tests Tokenised Deposits in HKMA’s Sandbox
HSBC and fintech giant Ant Group have successfully tested the use of tokenised deposits in intra-group payment transactions, in a first-of-its-kind initiative in Hong Kong. The test, conducted under the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox arrangement, encompassed the
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