Payments News

On The Web

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Global

Chinese payment giants are light years ahead

“China’s two mobile payments giants, Alipay, an affiliate of the Chinese ecommerce group Alibaba, and WeChat Pay, owned by the messaging and social media powerhouse Tencent, are streets ahead of  their Western rivals in terms of technology, user friendliness, number of users and ubiquity. To put their scale into perspective, each organisation handled more payments in a single month […]
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Global

China Can’t Afford a Cashless Society

“The growing “cashlessness” of Chinese cities threatens to expose underlying issues of economic instability. Mobile payments are carving out lines between young and old, and between the prosperous urban middle class and those left behind by the boom times.”
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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

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

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 […]

On The Wires

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Companies

InComm Japan to Become Alipay Payment Processing Partner

“InComm Japan, a subsidiary of InComm, today announced it will become a payment processing partner for Alipay (支付宝). With this agreement, InComm adds Alipay to the services it offers to merchants. InComm plans to further expand its payment processing portfolio both domestically and overseas”
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Global

Merchants worldwide optimize UnionPay services during Golden Week to enhance Chinese tourists’ experience

“The China Tourism Academy estimates that there will be 7 million outbound tourists during the Chinese National Day Holiday this year, hitting a record high. This holiday has become a global Golden Week, which is attracting the attention of foreign media and merchants. The Forbes website recently reported that Chinese tourists’ preference for experience, consumption […]