Payments News
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Global

Welcome to China. You Probably Can’t Buy Anything, Though.

“China was never an easy place for tourists, but lately just about everything seems to have gone square-shaped—as in the payment-app QR code needed to unlock much of the Middle Kingdom. It’s how people hail taxis, consult doctors, pay for meals and book flights. Even beggars are asking for money via QR code. Not needing […]

On The Web

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Global

Rapyd to Launch Cashless Payments Platform in Singapore

“Rapyd, a London-based startup fintech, announced the launch of a Singapore payments platform that will help enable cashless transactions for businesses and consumers.  The firm, which received a remittance license from the Monetary Authority of Singapore last month, said it will roll out a comprehensive payments platform that will allow a range of bank transfers, […]
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Global

AsiaKredit To Pioneer Global Standards Of Responsible Finance And Client Protection For The Underbanked

“AsiaKredit, a leading digital consumer finance fintech in the Philippines, is spearheading financial consumer protection and empowerment in the Philippines via the world’s first financial consumer protection standard, the Smart Campaign. The Smart Campaign is a globally recognized initiative by the Centre for Financial Inclusion at Accion (CFI), a U.S-based think-tank for financial inclusion.”
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Global

Google, Walmart Help Drive India Payments Past 1 Billion Transactions

“Indian digital payments took off when the government pushed demonetization in 2016, invalidating most of the country’s high-value currency notes in a move to curb corruption and push Indians away from cash. The Unified Payments Interface or UPI has now surpassed a 100 million users three-and-a-half years after its launch, thanks to booming smartphone use […]
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Domains

China mobile payments maintain rapid growth in Q3

“China’s mobile payments continued fast growth in the third quarter of 2019, showed data from the central bank. Banks in the country processed 27.27 billion mobile payment transactions in the period, up 61.05 percent year on year, said the People’s Bank of China in a report. Value of these transactions increased by 31.52 percent from […]
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Global

China Central Bank to Set Standards for 17 Fintech Categories, Including Blockchain – CoinDesk

“Speaking at a meeting of the National Technical Committee, PBoC vice president Yifei Fan said the bank aims to better regulate new technologies applied across the financial industry, according to a report from state media Xinhua News Agency. Fan said blockchain is among 17 categories of financial technologies, including cloud services and artificial intelligence, to […]
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Global

Cashless Payments Are Growing Faster in India Than Just About Anywhere Else

“Cashless payments are taking off in India, growing faster than in other countries around the world. The shift has attracted a host of tech companies, backed by deep-pocketed foreign investors, battling for market share. Digital transactions in India increased by 55% last year, compared with 48% in China and 23% in Indonesia, according to data […]
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Global

Presentation of the First European Acquirer of the MIR Card Scheme at the Russian-British Business Forum – The Roscongress Information and Analytical System

“We were waiting for an acquirer for the MIR card to be established in the UK. Demonstrating the potential of Russia’s financial services abroad is extremely important. Today, increasing the number of companies connected to acquiring, creating the appropriate infrastructure and assisting in connecting new organisations in the United Kingdom is one of our most important tasks,” said Boris Abramov, Russian Trade Representative in the UK.