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  • October 21, 2014
  • Last updated: 1:47am
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  1. Business - Banking & Finance

    Cross-border yuan payment platform next challenge for Beijing

    Posted Oct 20th 2014, 05:05am by Jeanny Yu

    ... ahead, I think the first will be the improvement in the payment processing systems to ensure that international corporates can enjoy the same payment efficiency when using the [yuan] as they do with any other major global currency," Goldstein told the South China Morning Post. The current system, CNAPS (China's National Advanced Payments System), creates frictions as it uses ...

  2. Business - Banking & Finance - CURRENCIES

    Delayed payments system stalls yuan’s global ambitions

    Posted Jul 09th 2014, 11:18am by Reuters

    ... Reuters in Beijing Roll-out of CIPS network won't be ready before 2016 due to technical glitches and policy snags Payment system delay hits yuan's global ambitions China's ... and technology challenges. The China International Payments System (CIPS) that would replace a patchwork of networks and allow hassle-free yuan payments was meant to debut later this year, but bankers ...

  3. Business - China Business - E-COMMERCE

    Alibaba unit boosts payment options for users

    Posted Oct 16th 2014, 05:51am by Bloomberg

    ... them tools to help sell to consumers in China through a service called ePass. Alipay Wallet, the mobile software application for Alibaba's third-party payment system, will offer products ... and door-to-door shipping logistics. Alipay will also help market US products to consumers in China. The service allows Alipay to integrate its payment system into US retailers' websites ...

  4. Business - Banking & Finance - CURRENCIES

    Thai payment link-up boosts Hong Kong hub role

    Posted Jul 29th 2014, 01:05am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com HKMA seals cross-border settlement system with Bank of Thailand, bolstering financial stability and reducing risks in forex transactions Thai payment link-up boosts HK hub role A cross-border payment system linking the Hong Kong Monetary Authority and the Bank of Thailand will bolster regional financial stability and trim risks by allowing Asian ...

  5. Business - Banking & Finance - REGULATION

    Cash transfers to stop for payment system upgrade

    Posted Sep 27th 2013, 12:00am by Celine Sun

    ... Celine Sun in Beijing celine.sun@scmp.com PBOC chooses National Day holiday to improve service platform to minimise impact on users Cash transfers to stop for payment system upgrade Mainland banks will suspend cross-bank money transfer services during the National Day holiday next week to upgrade to the second-generation payment system. But people will still be able ...

  6. Easy money?

    Posted Jun 11th 2008, 12:00am by Rebecca Tsui

    ... But these days there's another dilemma facing young shoppers- which way do I pay? Cash is increasingly being replaced by electronic money and an ever-increasing variety of payment tools. Nowadays ... Director of Citi Hong Kong, identifies one of the main dangers. 'Because you can't see the money flowing out when you use an electronic payment method, such as an Octopus card, it's ...

  7. News - World - HISTORY

    US booted out suspected ex-Nazis but kept up their benefit payments

    Posted Oct 20th 2014, 09:53pm by AP

    ... Associated Press in Osijek, Croatia Justice Department used payments to persuade suspected second world war criminals to leave U.S. expelled Nazi suspects but still paid their benefits ... The payments, underwritten by American taxpayers, flowed through a legal loophole that gave the US Justice Department leverage to persuade Nazi suspects to leave the US. If they agreed to go, or simply ...

  8. Business - Companies - E-COMMERCE

    UK's Powa buys MPayMe for US$75m in mobile payment push

    Posted Jun 17th 2014, 05:13am by BIEN PEREZ

    ... Bien Perez bien.perez@scmp.com Powa buys MPayMe in payment push Hong Kong technology startup MPayMe has been acquired for US$75 million by British company Powa Technologies, which aims to create the world's leading mobile payment system provider for the retail, telecommunications and utility industries. "We both want to do the same thing: revolutionise the world ...

  9. Payment system 'needs rethink'

    Posted May 15th 2012, 12:00am

    ... Alvin Sallay alvin.sallay@scmp.com The Mega Events Fund needs to change its 50-50 payment rule, says top cricket official Dinesh Tandon, as his association is still waiting for the balance of their handout six months after its marquee event. Tandon yesterday welcomed the government's decision to formally extend its assistance scheme for arts, cultural and sporting events for a further ...

  10. Business - Banking & Finance

    French bank allows customers to transfer money via Twitter

    Posted Oct 15th 2014, 05:19am by Reuters

    ... Reuters in Paris Groupe BPCE aims to build user base for payment system over mobile phones via text French bank clears transfers via Twitter One of France's largest banks has launched ... to attract attention and users to its S-Money mobile payments unit, which already allows people to transfer money over mobile phones via text message. Created by the bank using Twitter's open ...




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