Payments News » Global

UnionPay Partners With La Banque Postale To Expand Card Acceptance

July 17 2018

“UnionPay International has partnered with French bank La Banque Postale to expand the acceptance of its cards across the country, with focus on tourist attractions and public transportation. Under the alliance, the partners intend to facilitate Chinese tourists to use UnionPay cards at 37,000 merchants and 7,600 ATMs of the bank within next year. The […]

Companies

Tier II And Tier III Cities Are Leading The Wave Of Digital Payments Adoption

July 16 2018

“We have been able to create a network effect among our consumers and merchants. Given the multiple use cases, consumers prefer paying through Paytm, while the merchants accepting Paytm are seeing increased business and are also being able to pay digitally across their supply chain. We are powering the largest offline payments network with over […]

Companies

A New Rivalry Brews As Flipkart, Amazon Cut Google Ad Spends

July 16 2018

“Google’s e-commerce push and the rising importance of Flipkart and Amazon in digital ads are the latest examples of how intertwined the tech business has become and how internet firms are increasingly encroaching on each other’s turf. A few years ago, it was unthinkable that Google would enter e-commerce or that Amazon could ever threaten […]

Global

Letter From Shenzhen

July 16 2018

“While using ApplePay in San Francisco is similar to paying with WeChat in Shanghai, the scale of technology’s pervasiveness is more apparent in rural China than the rural US. For example, imagine paying for a long-distance bus ticket or a coffee from the local diner in Cheyenne with a cell phone. There are still parts […]

Domains

Banks Are Building A Super-Speed Money Highway In The Nordics

July 18 2018

“The biggest Nordic banks expect to launch a new piece of financial infrastructure next year, promising to dramatically speed up international transfers in one of the world’s most technologically advanced regions. The aim is to make it possible to clear payments and settle accounts within seconds, regardless of currency. The P27 project — so-called for […]

Global

Hong Kong Regulator, Banks Launch Blockchain-based Trade Finance Platform

July 18 2018

“Hong Kong’s banking regulator and seven banks, including HSBC Holdings PLC and Standard Chartered PLC, on Tuesday said they will jointly launch a trade finance platform in September using blockchain technology.The platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance sector using the […]

Companies

EBay Paid $573M To Buy Japanese e-Commerce Platform Qoo10, Filing Reveals

July 20 2018

in
eBay
Japan

“The deal underscores how eBay is at the same time pulling back from general plays while doubling down on more targeted opportunities. Earlier this year, the company gave up its stake in Flipkart as part of its acquisition by Walmart, but at the same time committed to investing in a new, standalone eBay operation in India, using some […]

Global

Nigerians Bury Cash In Backyards As Mobile Money Stumbles

July 19 2018

“Less than 6 percent of Nigerians use their handsets to transact using mobile money, compared with 73 percent of Kenyans, where more than two-thirds of adults have a bank account, according to the World Bank. That’s even though there are more than two phones for every bank account in the West African nation.”

Domains

Africa’s Dominant Mobile Money Service Is In Talks To Open In Ethiopia

July 18 2018

“The telecom company is reportedly in advanced talks with Ethiopian officials to introduce its popular mobile money service M-Pesa in the country, according to Reuters. The state telecommunications monopoly Ethio Telecom will carry the service, while Safaricom will host the servers back in Nairobi. If this goes ahead, the deal will present Safaricom with a lucrative opportunity […]

Companies

Facebook Faces Delay To WhatsApp Payments In India

July 20 2018

“India’s government is holding up Facebook Inc.’s plans for a nationwide launch of its WhatsApp payments service over concerns about how users’ data will be stored and other issues, according to people familiar with the matter. The country’s Ministry of Electronics and Information Technology, or MEITY, has asked WhatsApp and its partner banks to supply more […]