Payments News

On The Web

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Global

China Wants Its Rural Villages to Go Cashless by 2020

“Residents of even the tiniest far-flung villages in China may soon be able to pay on their phones to run daily errands as Beijing announced this month that it aims to make mobile payments ubiquitous in rural areas by the end of 2020. The plan arrived in a set of guidelines (document link in Chinese) jointly published by […]
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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

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 […]
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Global

You Will Soon Be Able to Pay Your Subway Fare With Your Face in China

“In Shenzhen, the local subway operator is testing various advanced technologies backed by the ultra-fast 5G network, including facial-recognition ticketing. At the Futian station, instead of presenting a ticket or scanning a QR bar code on their smartphones, commuters can scan their faces on a tablet-sized screen mounted on the entrance gate and have the […]
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Global

Users of China UnionPay’s Mobile Payment App Hit 150 Million

“User can make payments, buy wealth management products and make debit card balance inquires on the app Cloud Quick Pass, the Shanghai-based company said. The platform supports online applications for more than 80 types of credit cards from 21 banks, and cardholders of over 230 lenders can make mobile payments by scanning the association’s quick […]
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Global

Tencent Joins Soros and Cohen With Stake in Agentina’s Uala

“Chinese Internet giant Tencent Holdings Ltd . is taking a stake in Argentina’s mobile payments app Uala, adding to previous investments by Goldman Sachs and billionaires George Soros and Steve Cohen.    The equity investment will be used to continue developing the fintech company in South America’s second-largest economy, according to founder and CEO Pierpaolo […]
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Companies

Flutterwave and Alipay Partner on Payments Between Africa and China

“San Francisco and Lagos-based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad… “This means that all our merchants can accept or install Alipay […]
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Global

Starbucks Rewards Chinese Customers With Mobile Order & Pay Service

“Coffee giant Starbucks has begun rolling out its Starbucks Now mobile-based, pre-order and pay service to 300 stores in Beijing and Shanghai . The company plans to introduce Starbucks Now across China this year as it seeks to build a closer relationship with its customers in the country. The Mobile Order & Pay service is […]

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 […]