PaymentsNews

On The Web

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Global

HOW CASHLESS MAINLAND CHINA MADE HONG KONG, SINGAPORE LOOK BACKWARD

“Like Hong Kong with its Octopus card, Singapore was an early adopter of e-payment systems, starting with the introduction of the General Interbank Recurring Order (GIRO) in 1985, which allowed people to make monthly payments to a billing organisation directly from their bank accounts. But since those early days both cities have found themselves leapfrogged […]
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Global

How WeChat faded into the silence in India

“But like a roller coaster in an adventure park, the WeChat trajectory turned direction and began to nosedive fast. The number of uninstalls increased. There was no stickiness to the app. Soon, there were news reports that suggested that the app could be banned by the government. That was the beginning of the end for […]
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Global

China To 600 Retailers: We Are Not A Mobile Payments-Only Society

“It’s kind of odd how often this has happened, but it seems that any time a government has pushed for a cashless society, it’s drawn back at the brink. The Indian government demonetized most—but not all—of its currency. Sweden’s push to go cashless prompted regrets of its own. And now China, where mobile payment were […]
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Global

2018 TRENDS FOR MOBILE PAYMENT IN CHINESE OUTBOUND TOURISM

“Based on a survey of 2,800-plus outbound Chinese tourists[1], this whitepaper represents the latest trends and consumption habits of these travelers in overseas markets. It covers a variety of perspectives including the number of foreign countries visited, tourists’ consumption amounts and habits in overseas destinations, and their evolving demands. This survey also provides an alternative […]
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Global

Beijing’s blockade of U.S. credit card companies may finally end — now that Chinese companies dominate

“Over the years that China has stymied Western companies, domestic rivals such as China UnionPay, Alipay and WeChat Pay have gobbled up the market for electronic payments and established strong ties with consumers.State-controlled UnionPay now operates the largest card network in the world, with 7 billion credit, debit and prepaid cards in circulation, versus 5.6 billion for Visa […]
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Global

U.S. set to lose its position as world’s biggest retail market |Chain Store Age

“China’s economy may be slowing, but it is on track to overtake the United States and become the world’s top retail market this year. The latest forecast by eMarketer predicts that retail sales in China will increase 7.5% to $5.636 trillion in 2019. That’s approximately $100 billion more than the United States, where retail sales are […]

On The Wires

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Global

RiverPay Integrates UnionPay QR Code Payment to Offer Full Portfolio of Chinese Leading Mobile Payment Options

“RiverPay Inc., an integrated payments and marketing platform to connect Chinese consumers with overseas merchants and the authorized payment service provider of AliPay and WeChat Pay, today announced the strategic partnership with UnionPay International in North America, which enables RiverPay to add UnionPay QR code payment to its existing payment portfolio. From the partnership, RiverPay is […]