https://www.scmp.com/rss/318711/feed Cash is history. Whether its ordering groceries from our smartphone or using it to pay for the bus, these companies and services are changing the way we pay for goods and services. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Oscar Liu Oscar Liu More than 40,000 Hong Kong taxi drivers have adopted major electronic payment platforms AlipayHK and WeChat Pay HK, easing a protracted pain point for mainland Chinese visitors who are expected to arrive in droves during the coming Ching Ming Festival break. AlipayHK, a subsidiary of Ant International, an affiliate of Alibaba Group Holding, which owns the South China Morning Post, said on Thursday that its e-payment system was available to 47,000 taxi drivers. WeChat Pay HK said more than 40,000... https://www.scmp.com/news/hong-kong/transport/article/3348828/40000-taxi-drivers-sign-e-payment-systems-new-rules-come-force?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3348828/40000-taxi-drivers-sign-e-payment-systems-new-rules-come-force?utm_source=rss_feed Thu, 02 Apr 2026 11:12:07 +0000 Oscar Liu Oscar Liu More than 47,000 taxi drivers have adopted the commercial version of the Octopus app or equipped their cabs with mobile card readers ahead of new electronic payment regulations taking effect in Hong Kong on Wednesday, transport authorities have said. The new measures require cab drivers to provide at least two e-payment options, as part of a broader government push to modernise the industry’s image and service quality. The Transport Department on Tuesday said three dedicated service stations at... https://www.scmp.com/news/hong-kong/transport/article/3348480/over-47000-cabbies-adopt-octopus-card-readers-ahead-e-payment-regulations?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3348480/over-47000-cabbies-adopt-octopus-card-readers-ahead-e-payment-regulations?utm_source=rss_feed Tue, 31 Mar 2026 04:05:53 +0000 Oscar Liu Oscar Liu Hong Kong cabbies are counting down to the end of the “keep the change” tradition as the industry prepares for a mandatory shift from cash-only payments to electronic settlements. In the weeks leading up to April 1, taxi drivers are racing to install e-payment tools, while service providers say 90 per cent of the cabbies have already adopted such solutions. Chau Kwok-keung, chairman of the Hong Kong Taxi and Public Light Bus Association, said the transition to digital payments meant cabbies... https://www.scmp.com/news/hong-kong/transport/article/3345811/keep-change-no-more-hong-kong-taxi-drivers-prepare-shift-e-payments?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3345811/keep-change-no-more-hong-kong-taxi-drivers-prepare-shift-e-payments?utm_source=rss_feed Sun, 08 Mar 2026 00:30:11 +0000 Matteo Giovannini Matteo Giovannini As China prepares its digital yuan for wider domestic and cross-border use, the global debate has turned again to a familiar question: is Beijing trying to challenge the US dollar’s dominance? But this misses the more consequential point. The significance of China’s digital currency push lies not in substitution, but in the transformation of the infrastructure that underpins international payments. Over the past few years, the e-CNY has evolved into one of the world’s most advanced central bank... https://www.scmp.com/opinion/china-opinion/article/3341064/talk-digital-yuan-challenging-dollar-dominance-misses-real-power-shift?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3341064/talk-digital-yuan-challenging-dollar-dominance-misses-real-power-shift?utm_source=rss_feed Sun, 25 Jan 2026 21:30:08 +0000 Oscar Liu Oscar Liu Sammy Kam Chi-sum, the primary architect of Hong Kong’s contactless Octopus cards, is retiring after nearly 30 years with the company at the end of this month, before what he says is an inevitable transition to a technology that will not even require tapping for certain transactions. Octopus’s chief operations officer began his journey in 1995 when he joined the MTR Corporation’s marketing team to help launch what would become the world’s first contactless system that revolutionised public... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3337731/architect-hong-kongs-octopus-card-retires-dreams-tap-free-technology?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3337731/architect-hong-kongs-octopus-card-retires-dreams-tap-free-technology?utm_source=rss_feed Thu, 25 Dec 2025 11:35:26 +0000 Ji Siqi,Xiaofei Xu Ji Siqi,Xiaofei Xu In an effort to further promote the internationalisation of China’s currency, Beijing has pledged to expand the use of its digital yuan, including by establishing a cross-border payment pilot with Singapore. The measures, announced by the People’s Bank of China on Wednesday, are tied to a broader financial support plan for China’s New International Land-Sea Trade Corridor – a trade and logistics network, launched in 2017, that links landlocked cities in western China with hundreds of global... https://www.scmp.com/economy/global-economy/article/3337642/china-expands-digital-yuan-push-singapore-and-asean-trade-routes?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3337642/china-expands-digital-yuan-push-singapore-and-asean-trade-routes?utm_source=rss_feed Wed, 24 Dec 2025 11:30:09 +0000 Coco Feng Coco Feng Ant International, the Singapore-based affiliate of Chinese fintech giant Ant Group, on Friday announced a partnership with the Women’s National Basketball Association (WNBA) team New York Liberty. The multi-year initiative would see the company’s Alipay+ fintech platform become an “official sponsor” and “innovation partner for sustainability” of the team, to “jointly support community programmes designed to advance community empowerment, environmental sustainability and youth development”... https://www.scmp.com/tech/tech-trends/article/3337122/alipay-announces-sponsorship-deal-wnba-team-new-york-liberty-amid-global-push?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3337122/alipay-announces-sponsorship-deal-wnba-team-new-york-liberty-amid-global-push?utm_source=rss_feed Fri, 19 Dec 2025 13:00:32 +0000 Wency Chen Wency Chen Ant International, the Singapore-based affiliate of Chinese fintech giant Ant Group, has named US basketball star Sabrina Ionescu as its global brand ambassador in a fresh partnership between sports and tech. The four-time all-star in the US Women’s National Basketball Association (WNBA) was chosen as part of an effort to expand access to financial tools via innovative technology, the digital payments provider said on Tuesday. The 28-year-old point guard – an Olympic gold medallist and the top... https://www.scmp.com/tech/big-tech/article/3335649/ant-international-signs-wnba-star-sabrina-ionescu-brand-ambassador?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3335649/ant-international-signs-wnba-star-sabrina-ionescu-brand-ambassador?utm_source=rss_feed Mon, 08 Dec 2025 16:01:07 +0000 Iris Deng Iris Deng Chinese technology companies are stepping up their push into the smart-glasses market with new software and hardware innovations, intensifying competition to lead in the next generation of artificial intelligence-driven devices. Ant International, the overseas arm of Chinese fintech giant Ant Group, on Wednesday unveiled what it described as the world’s first iris-authentication technology for payments via smart glasses. Chinese electronics makers Xiaomi and Meizu will be the first to offer the... https://www.scmp.com/tech/tech-trends/article/3332516/big-tech-firms-double-down-ai-glasses-ant-offers-iris-authentication-payments?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3332516/big-tech-firms-double-down-ai-glasses-ant-offers-iris-authentication-payments?utm_source=rss_feed Wed, 12 Nov 2025 12:00:16 +0000 Xinmei Shen Xinmei Shen Ant Digital Technologies, an affiliate of Chinese fintech giant Ant Group, has issued a warning to investors regarding fraudulent tokens being issued under the name of its newly launched Jovay blockchain, as Hong Kong pushes ahead with developing its digital-asset industry. Unauthorised projects had been issuing fraudulent tokens using the Jovay name on major blockchains, including Ethereum, BNB Chain and Solana, Ant Digital Technologies said on Wednesday via Jovay’s official social media... https://www.scmp.com/tech/blockchain/article/3330890/ant-digital-warns-fake-jovay-tokens-scams-persist-amid-hong-kongs-crypto-push?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3330890/ant-digital-warns-fake-jovay-tokens-scams-persist-amid-hong-kongs-crypto-push?utm_source=rss_feed Thu, 30 Oct 2025 09:00:10 +0000 Ann Cao Ann Cao Increased collaboration between Hong Kong and mainland China could potentially lead to more advances in the cryptocurrency sector, according to industry experts who took part in the 11th Global Blockchain Summit in Shanghai on Thursday. That assessment comes amid the central government’s years-long ban on a range of crypto-related activities on the mainland, including initial coin offerings, cryptocurrency trading and bitcoin mining. Calls for Hong Kong and the mainland to collaborate in... https://www.scmp.com/tech/blockchain/article/3330106/crypto-collaboration-between-hong-kong-and-mainland-china-benefit-sector-experts-say?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3330106/crypto-collaboration-between-hong-kong-and-mainland-china-benefit-sector-experts-say?utm_source=rss_feed Thu, 23 Oct 2025 23:00:11 +0000 Wency Chen Wency Chen One recent Saturday afternoon in Shanghai, a 10-year-old girl – glasses perched on her nose, her pink T-shirt tucked into a purple skirt – led her parents into a Little Genius store. Returning to school after the summer break, she was eager for a new smartwatch and had only one brand in mind. “We checked out Huawei and Xiaomi, but my daughter insisted on getting Little Genius,” the mother told the sales staff. Known locally as Xiaotiancai and abroad as Imoo, Little Genius may be unfamiliar to... https://www.scmp.com/tech/tech-trends/article/3328227/move-over-apple-little-genius-smartwatches-captivate-millions-children-china?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3328227/move-over-apple-little-genius-smartwatches-captivate-millions-children-china?utm_source=rss_feed Thu, 09 Oct 2025 01:00:11 +0000 Vivian Au Vivian Au Some Hong Kong travellers using the Octopus app’s new cross-border payment PayPay service in Japan have reported frequent system malfunctions and incorrect charges, despite the company claiming the service is popular. A week after the service launched, many Hongkongers took to social media on Tuesday to criticise the new service as a failure. In a response to the Post, Octopus said the app had experienced some payment settlement issues, which were resolved on Tuesday night, and that refunds were... https://www.scmp.com/news/hong-kong/transport/article/3328268/hong-kong-travellers-demand-refunds-octopus-paypay-service-struggles-japan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3328268/hong-kong-travellers-demand-refunds-octopus-paypay-service-struggles-japan?utm_source=rss_feed Wed, 08 Oct 2025 12:43:39 +0000 Jiang Chuqin Jiang Chuqin Octopus mobile app users can now make payments at millions of merchants across Japan in a move that will bring convenience to many Hongkongers planning to visit the country. Users can pay by scanning the PayPay QR code or generating one via the app. Payments are also without fees after Octopus Holdings teamed up with the country’s biggest code-based payment service provider, PayPay. The Post unpacks what users need to know about the new arrangement. 1. How can you use the Octopus app to pay in... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3327663/using-octopus-japan-what-hongkongers-should-know-and-what-perks-are-there?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3327663/using-octopus-japan-what-hongkongers-should-know-and-what-perks-are-there?utm_source=rss_feed Thu, 02 Oct 2025 11:11:31 +0000 Zhou Xin Zhou Xin World Liberty Financial, a venture backed by the family of US President Donald Trump, took centre stage on Wednesday at the world’s largest cryptocurrency event in Singapore, as Trump’s eldest son and his business partner promoted the firm’s USD1 stablecoin and its potential for “dollarising the world”. At Token2049, World Liberty Financial co-founders Donald Trump Jnr and Zach Witkoff, who serves as CEO, received rock star treatment from a cheering audience, as they touted the success of USD1,... https://www.scmp.com/tech/blockchain/article/3327522/trump-led-crypto-venture-lauds-usd1-stablecoins-potential-dollarising-world?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3327522/trump-led-crypto-venture-lauds-usd1-stablecoins-potential-dollarising-world?utm_source=rss_feed Wed, 01 Oct 2025 11:00:10 +0000 Xinmei Shen Xinmei Shen China’s two largest mobile payment services, Ant Group’s Alipay and Tencent Holdings’ Weixin Pay, have adopted a new cross-border payment system designed to facilitate cashless transactions made by foreigners in the country. Alipay, along with Ant Group’s overseas spin-off Ant International, and Weixin Pay said in separate statements on Wednesday that they were expanding support for foreign e-wallets through China’s Cross-border Interconnection Payment Gateway scheme. Ant is affiliated with... https://www.scmp.com/tech/big-tech/article/3325877/ant-groups-alipay-and-tencents-weixin-pay-embrace-chinas-cross-border-payment-system?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3325877/ant-groups-alipay-and-tencents-weixin-pay-embrace-chinas-cross-border-payment-system?utm_source=rss_feed Wed, 17 Sep 2025 12:00:09 +0000 Coco Feng Coco Feng Hello, a Chinese bike-sharing and ride-hailing firm backed by fintech giant Ant Group, unveiled its first driverless taxi on Thursday, intensifying competition with local rivals Baidu, WeRide and Pony.ai. The vehicle, Hello Robot1, is based on the Venucia VX6 SUV produced by a joint venture between China’s Dongfeng Motor and Japan’s Nissan, according to Yu Qiankun, co-founder of Hello’s self-driving unit, who presented the car at an event in Shanghai. Equipped with 14 high-resolution cameras,... https://www.scmp.com/tech/big-tech/article/3325186/ant-group-backed-hello-launches-robotaxi-challenge-baidu-weride-ponyai-china?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3325186/ant-group-backed-hello-launches-robotaxi-challenge-baidu-weride-ponyai-china?utm_source=rss_feed Thu, 11 Sep 2025 10:00:22 +0000 Oscar Liu Oscar Liu A Hong Kong start-up has sought to overcome taxi drivers’ long-standing reluctance to embrace digital payments by launching an e-payment system offering various fare settlement options alongside a ride-hailing app. Jason Ma Siu-cheong, 37, founded the start-up Dash in 2021. It is the latest company aiming to persuade Hong Kong’s taxi drivers to abandon their entrenched cash-only habits and catch up with counterparts in other places, such as mainland China. Pressure is mounting on the city’s... https://www.scmp.com/news/hong-kong/transport/article/3322103/taxi-drivers-encouraged-embrace-e-payments-hong-kong-start-dash-system?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3322103/taxi-drivers-encouraged-embrace-e-payments-hong-kong-start-dash-system?utm_source=rss_feed Sun, 17 Aug 2025 01:00:23 +0000 Coco Feng Coco Feng Apple has started testing Douyin Pay as a new mobile payment service on its China App Store, according to mainland media reports, while purportedly leaked images of the iPhone 17 stirred up discussion on Chinese social media this week. Once tests are completed, Douyin Pay is expected to serve as the fourth payment platform on the mainland App Store, after Ant Group’s Alipay, Tencent Holdings’ WeChat Pay and state-run China UnionPay, according to reports on Tuesday by online local media IThome... https://www.scmp.com/tech/big-tech/article/3321744/apple-eyes-douyin-pay-mainland-app-store-while-iphone-17-leak-stirs-online-debate?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3321744/apple-eyes-douyin-pay-mainland-app-store-while-iphone-17-leak-stirs-online-debate?utm_source=rss_feed Wed, 13 Aug 2025 13:00:10 +0000 Reuters Reuters SoftBank Group has selected investment banks to help organise a potential initial public offering (IPO) in the US for its Japanese payments app operator PayPay, according to two people familiar with the matter. The banks leading preparations for the listing were Goldman Sachs, JPMorgan Chase, Mizuho Financial Group and Morgan Stanley, the sources said. The PayPay offering may raise more than US$2 billion from investors when it takes place, which the sources said could be as soon as the final... https://www.scmp.com/tech/big-tech/article/3321399/softbank-selects-banks-us-ipo-payments-app-paypay-amid-tech-rebound-sources-say?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3321399/softbank-selects-banks-us-ipo-payments-app-paypay-amid-tech-rebound-sources-say?utm_source=rss_feed Mon, 11 Aug 2025 02:31:17 +0000 SCMP Editorial SCMP Editorial Connections are crucial to business success and a core mission for superconnector Hong Kong. So it is quite significant that a new electronic payment service linking the city and mainland China is being well received by people on both sides of the border. The Payment Connect system enjoyed a smooth launch on June 22, handling 6,900 northbound and 19,000 southbound transactions. A Hong Kong Monetary Authority (HKMA) spokesperson said average transaction sizes were around 800 yuan (US$111) heading... https://www.scmp.com/opinion/comment/article/3316242/payment-connect-can-boost-hong-kong-hub-international-finance?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3316242/payment-connect-can-boost-hong-kong-hub-international-finance?utm_source=rss_feed Sun, 29 Jun 2025 00:45:07 +0000 Aileen Chuang Aileen Chuang Hongkongers and mainland residents jumped at the chance to send money across the border via a new electronic payment service on its first day of operation on Sunday. The so-called Payment Connect was operating smoothly, with 6,900 Northbound and 19,000 Southbound transactions as of 6pm, according to a spokesperson for the Hong Kong Monetary Authority (HKMA). The average transaction amounts for Northbound and Southbound were around 800 yuan (US$111) and 3,100 yuan, respectively. The People’s Bank... https://www.scmp.com/business/banking-finance/article/3315380/payment-connect-hongkongers-mainland-china-residents-embrace-service-launch-day?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3315380/payment-connect-hongkongers-mainland-china-residents-embrace-service-launch-day?utm_source=rss_feed Sun, 22 Jun 2025 08:00:15 +0000 Coco Feng Coco Feng Chinese fintech giant Ant Group is pushing the wider adoption of smart glasses to facilitate digital transactions, extending the reach of mobile payments beyond smartphones. The first such payment outside mainland China was recently completed in Hong Kong using Meizu’s StarV smart glasses, according to a statement on Thursday by the company, an affiliate of Post owner Alibaba Group Holding. That transaction was made via AlipayHK, the Hong Kong platform of Ant Group’s flagship Alipay app, using... https://www.scmp.com/tech/big-tech/article/3315111/ant-group-pushes-wider-adoption-ai-enabled-smart-glasses-mobile-payments?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3315111/ant-group-pushes-wider-adoption-ai-enabled-smart-glasses-mobile-payments?utm_source=rss_feed Thu, 19 Jun 2025 23:00:13 +0000 Wency Chen Wency Chen Ant International, which was spun off from fintech giant Ant Group last year, published its first independent sustainability report on Monday, underscoring its operational autonomy from its Chinese parent. Speculation has been rife over a potential listing by Ant International, which is registered in Singapore. In the report, the company emphasised its “new corporate identity”, describing its mission as “to make it easy to do business anywhere, bringing small and beautiful changes to the... https://www.scmp.com/tech/big-tech/article/3314582/ant-international-issues-first-sustainability-report-after-spin-amid-ipo-speculation?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3314582/ant-international-issues-first-sustainability-report-after-spin-amid-ipo-speculation?utm_source=rss_feed Mon, 16 Jun 2025 07:00:11 +0000 Xinmei Shen Xinmei Shen With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts. Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital. Hong... https://www.scmp.com/tech/blockchain/article/3313993/stablecoin-law-hong-kong-looks-first-mover-edge-over-us-singapore-payments?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3313993/stablecoin-law-hong-kong-looks-first-mover-edge-over-us-singapore-payments?utm_source=rss_feed Thu, 12 Jun 2025 01:00:13 +0000 Matt Haldane Matt Haldane OKX, one of the world’s largest cryptocurrency exchanges by trading volume, is preparing for explosive growth in blockchain adoption in the coming years, according to chief commercial officer Lennix Lai, although plans for the Hong Kong market remain on the back burner. In a report co-produced by OKX and Blockworks Research, the companies outline a bright future for the adoption of blockchain technology across myriad industries, from traditional finance to video gaming. Many of the use cases... https://www.scmp.com/tech/blockchain/article/3312328/okx-envisions-future-running-blockchain-crypto-exchange-shifts-focus-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3312328/okx-envisions-future-running-blockchain-crypto-exchange-shifts-focus-hong-kong?utm_source=rss_feed Thu, 29 May 2025 14:00:08 +0000 Coco Feng Coco Feng Amap, the mapping and local services business under Alibaba Group Holding, has introduced a ride-hailing feature on the platform’s English version, allowing foreign visitors in mainland China to get transport in more than 360 domestic cities. The new feature, which comes months after Amap’s English-language version was launched in February, is accessible via a button on the homepage. Initially, the app will accept users’ registered mainland, Hong Kong and Macau phone numbers. Payments can be... https://www.scmp.com/tech/tech-trends/article/3311612/alibabas-amap-offers-ride-hailing-function-catering-foreign-visitors-china?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3311612/alibabas-amap-offers-ride-hailing-function-catering-foreign-visitors-china?utm_source=rss_feed Sun, 25 May 2025 01:00:17 +0000 Bloomberg Bloomberg Jack Ma-backed Ant Group’s international division generated nearly US$3 billion in revenue for 2024, according to people familiar with the matter, setting the stage for a spin-off after the unit set up its own board last year. Ant International, which is headquartered in Singapore, has also produced two consecutive years of adjusted profit, the people said, requesting not to be named because the information is not public. It is not clear how the company calculates its adjusted Ebitda – earnings... https://www.scmp.com/tech/big-tech/article/3310945/ant-groups-global-unit-pulls-us3-billion-revenue-ahead-spin?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3310945/ant-groups-global-unit-pulls-us3-billion-revenue-ahead-spin?utm_source=rss_feed Mon, 19 May 2025 10:51:22 +0000 Jess Ma Jess Ma A mainland Chinese bank in Hong Kong is investigating unauthorised transactions on the Faster Payment System (FPS) involving one of its clients, the Post has learned, with experts saying breaches on the widely used platform are uncommon and may involve hacking. A client of the China Construction Bank (Asia) in Hong Kong told the Post she had never used FPS but lost HK$20,000 (US$2,560) in two unauthorised transactions via the platform to an account with Ant Bank under a mainland name on April... https://www.scmp.com/news/hong-kong/society/article/3310767/bank-hong-kong-investigates-unauthorised-transactions-payment-system-fps?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3310767/bank-hong-kong-investigates-unauthorised-transactions-payment-system-fps?utm_source=rss_feed Sun, 18 May 2025 03:11:27 +0000 Xinmei Shen Xinmei Shen Early figures from China’s two dominant mobile payment services, Alipay and WeChat Pay, showed strong inbound travel spending during the country’s five-day Labour Day holiday. Alipay, a unit under Ant Group, said in a statement on Monday that both the number of transactions and total spending by inbound travellers across 13 e-wallets in its network – including those from Hong Kong, Macau, Singapore, Pakistan and South Korea – doubled in the May 1 to 5 period from a year ago. It attributed the... https://www.scmp.com/tech/big-tech/article/3309133/alipay-and-wechat-pay-see-booming-inbound-spending-china-during-labour-day-holiday?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3309133/alipay-and-wechat-pay-see-booming-inbound-spending-china-during-labour-day-holiday?utm_source=rss_feed Mon, 05 May 2025 12:00:14 +0000 Xinmei Shen Xinmei Shen Consumer electronics firm DreamSmart Group, owned by Chinese auto giant Zhejiang Geely Holding Group, will soon enable mobile payments via smart glasses, according to an executive, as the race to make eyewear powered by artificial intelligence (AI) more useful to the public heats up. DreamSmart is working with fintech giant Ant International to allow AI smart glass users to make payments, a feature that will be made available on its StarV Air2 eyewear in the third quarter this year, according to... https://www.scmp.com/tech/tech-trends/article/3308252/geely-owned-dreamsmart-push-mobile-payments-ai-glasses-eyes-overseas-expansion?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3308252/geely-owned-dreamsmart-push-mobile-payments-ai-glasses-eyes-overseas-expansion?utm_source=rss_feed Tue, 29 Apr 2025 02:00:19 +0000 Alipay, the mobile payment platform under Ant Group that introduced the cashless society to China with its QR code, is building on that leadership by amassing 100 million users for its tap-and-pay service in the first year of its launch. The Hangzhou-based fintech company’s NFC-enabled “Tap!” payment service has signed up 100 million users since introducing its tap-and-pay service on June 7, 2024, cementing its role as China’s leading payment service provider, Ant Group said in a statement on... https://www.scmp.com/tech/big-tech/article/3307968/alipay-leads-chinas-payments-apps-tap-and-pay-service-amassing-100-million-users?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3307968/alipay-leads-chinas-payments-apps-tap-and-pay-service-amassing-100-million-users?utm_source=rss_feed Fri, 25 Apr 2025 13:00:13 +0000 Coco Feng Coco Feng Tencent Holdings on Wednesday launched a handy new tool via its super app WeChat to help mainland Chinese tourists in Japan book tables at about 870,000 dining spots across the country, from traditional izakaya to Michelin-starred restaurants and everything in between. The Chinese-language version of Tabelog – a popular Japanese restaurant review website that ranks dining establishments on a five-point scale, based on user reviews – is now available as a mini program on WeChat, known as Weixin... https://www.scmp.com/tech/big-tech/article/3307637/izakaya-haute-cuisine-wechat-helps-chinese-tourists-book-tables-across-japan?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3307637/izakaya-haute-cuisine-wechat-helps-chinese-tourists-book-tables-across-japan?utm_source=rss_feed Wed, 23 Apr 2025 11:30:13 +0000 Ben Jiang Ben Jiang Major Chinese technology companies are racing to launch services based on the open model context protocol (MCP), which enables Manus-like artificial intelligence (AI) agents to connect with third-party online tools, data sources and systems – a trend that could expand the commercial adoption of such applications. Alipay operator Ant Group – the fintech affiliate of Alibaba Group Holding, owner of the South China Morning Post – last week unveiled its “MCP server for payment services”. This lets... https://www.scmp.com/tech/big-tech/article/3307333/chinese-tech-giants-race-expand-ai-services-market-latest-open-standard-protocol?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3307333/chinese-tech-giants-race-expand-ai-services-market-latest-open-standard-protocol?utm_source=rss_feed Mon, 21 Apr 2025 12:30:16 +0000 Danielle Popov,Aileen Chuang Danielle Popov,Aileen Chuang Digital wallets are on track to become the dominant payment method in Hong Kong by 2030, accounting for nearly half of all online and in-store transactions, marking a significant shift away from traditional credit card payments, according to a new report. Digital wallets – typically smartphone-enabled payment systems run by technology companies such as Google and Apple – are projected to account for 45 per cent of the city’s online transaction value and 48 per cent of point-of-sale (POS)... https://www.scmp.com/business/money/money-news/article/3307217/digital-wallets-poised-overtake-credit-cards-hong-kong-2030-report?utm_source=rss_feed https://www.scmp.com/business/money/money-news/article/3307217/digital-wallets-poised-overtake-credit-cards-hong-kong-2030-report?utm_source=rss_feed Sun, 20 Apr 2025 09:00:31 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) will announce on Monday new measures to be implemented by banks to safeguard the public from financial fraud, stepping up its vigilance to prevent scams that caused losses of HK$9.15 billion (US$1.2 billion) last year. Called “E-Banking Security ABC”, the “ABC” refers to tightening “authorisation” methods for transactions, saying “bye-bye” to chosen functions and “cancelling” suspicious transactions. These safety measures will enhance electronic banking... https://www.scmp.com/business/banking-finance/article/3306341/hong-kong-introduce-3-digital-security-measures-combat-financial-fraud?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3306341/hong-kong-introduce-3-digital-security-measures-combat-financial-fraud?utm_source=rss_feed Sun, 13 Apr 2025 23:30:11 +0000 Ann Cao Ann Cao Tencent Holdings’ Weixin Pay, a leading digital payment platform in China, is expanding its presence in Southeast Asia to capitalise on the post-Covid surge of mainland tourists, as the company moves to diversify beyond a lacklustre domestic market. “Over the last few years, we received a lot of feedback from merchants in Southeast Asia that they wanted our help in getting more Chinese tourists – that’s why we decided to focus on making sure that the local merchants are better served,” said... https://www.scmp.com/tech/big-tech/article/3302240/tencents-weixin-pay-chases-chinese-tourists-singapore-sentosa-deal?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3302240/tencents-weixin-pay-chases-chinese-tourists-singapore-sentosa-deal?utm_source=rss_feed Thu, 13 Mar 2025 23:00:08 +0000 Hong Kong’s Octopus is extending its tentacles further overseas. The electronic payment system is working with other platforms in Japan to enable users to settle transactions with its mobile phone application as early as the third quarter of this year. The move will enhance travel convenience and is to be welcomed. This is not the first time the home-grown technology has ventured out, having launched Thailand’s PromptPay payment in its app in 2023 and Zero Pay in South Korea last year. Users... https://www.scmp.com/opinion/article/3301852/octopus-lands-japan-delight-hong-kong-visitors?utm_source=rss_feed https://www.scmp.com/opinion/article/3301852/octopus-lands-japan-delight-hong-kong-visitors?utm_source=rss_feed Tue, 11 Mar 2025 00:15:07 +0000 Oscar Liu,Cannix Yau Oscar Liu,Cannix Yau Hong Kong travellers will be able to use their Octopus mobile app to make payments in Japan as early as the third quarter of this year, with the platform already accepted in Thailand and South Korea. Octopus Holdings’ product director Andy Yip King-sang said on Tuesday that the firm was in discussions with different payment platforms in Japan and aimed to collaborate with those that had greater coverage so Hong Kong travellers would enjoy a seamless experience. “We are striving to launch the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3301020/hong-kong-tourists-japan-may-soon-be-able-use-octopus-app-payments?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3301020/hong-kong-tourists-japan-may-soon-be-able-use-octopus-app-payments?utm_source=rss_feed Tue, 04 Mar 2025 09:38:45 +0000 Yujie Xue Yujie Xue The Hong Kong Monetary Authority (HKMA) has made it incumbent on banks to conduct a mandatory name-matching process on customers for real-time fund transfers, the latest step by the city’s financial regulator to tackle scams. Financial institutions have been urged to adopt “refined measures” on their instant fund transfer systems such as the Faster Payment System (FPS) and intra-bank fund systems, according to a statement issued by the HKMA on Tuesday. For transactions exceeding HK$1,000... https://www.scmp.com/business/banking-finance/article/3299209/hkma-mandates-name-matching-transfers-above-hk1000-combat-scams?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3299209/hkma-mandates-name-matching-transfers-above-hk1000-combat-scams?utm_source=rss_feed Tue, 18 Feb 2025 13:46:47 +0000 Official statistics show China’s domestic consumption was robust during the recently concluded Lunar New Year holiday, providing some positive signs for the country’s economy as household spending becomes a greater priority in the absence of a more favourable environment for exports. Consumer-related industries posted a 10.8 per cent increase in their average daily sales revenue during the eight-day holiday period compared to last year, official news agency Xinhua reported, citing data from the... https://www.scmp.com/economy/economic-indicators/article/3297624/chinas-lunar-new-year-spending-spree-offers-hope-consumption-boost?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3297624/chinas-lunar-new-year-spending-spree-offers-hope-consumption-boost?utm_source=rss_feed Thu, 06 Feb 2025 10:00:29 +0000 Hugh Harsono Hugh Harsono On January 23, US President Donald Trump issued an executive order creating a working group for a regulatory framework for digital assets. Ironically, this order also imposed a ban on US central bank digital currency (CBDC) development, effectively halting plans to create a digital version of the dollar. This decision could unintentionally accelerate global de-dollarisation, as countries and businesses may increasingly turn to alternatives like China’s digital yuan for cross-border transactions,... https://www.scmp.com/opinion/world-opinion/article/3297187/trumps-digital-dollar-ban-opens-door-chinas-yuan?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3297187/trumps-digital-dollar-ban-opens-door-chinas-yuan?utm_source=rss_feed Tue, 04 Feb 2025 08:30:08 +0000 Ann Cao Ann Cao Alipay, China’s leading mobile payments platform, will bear the expense from unexpected losses that it incurred on Thursday, when a system error gave a 20 per cent discount to an undisclosed number of user transactions. The error, which was caused by a back-end misconfiguration in the app’s promotional campaign, applied an “immediate deduction” to the value of payment on certain user transactions made on that day, according to Alipay’s statement on Chinese microblogging service Weibo. The... https://www.scmp.com/tech/big-tech/article/3295197/alipay-bears-cost-system-error-applied-discounts-user-transactions?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3295197/alipay-bears-cost-system-error-applied-discounts-user-transactions?utm_source=rss_feed Fri, 17 Jan 2025 08:35:10 +0000 A new year heralds not just new hopes and adventures, but also changes for the better. The same goes for the Chinese tradition of giving lai see during the Lunar New Year. As citizens queued up again for crisp banknotes to fill red packets, or hong bao in Mandarin, let us not forget to go green and opt for alternatives such as electronic payments as well as used envelopes and banknotes. The appeal to mark the Lunar New Year in a more environmentally friendly manner has been made for years,... https://www.scmp.com/opinion/comment/article/3294932/it-time-make-lunar-new-year-red-lai-see-packets-greener?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3294932/it-time-make-lunar-new-year-red-lai-see-packets-greener?utm_source=rss_feed Wed, 15 Jan 2025 22:30:08 +0000 Enoch Yiu Enoch Yiu Hong Kong and mainland China are linking up their digital payment systems to allow small cross-border payments via mobile phone numbers this year, according to the Hong Kong Monetary Authority (HKMA). The HKMA has also added three more banks – HSBC, Standard Chartered and Bank of Communications – allowing Hongkongers to open bank accounts on the mainland without having to show up in person. The banks join five other lenders that have been providing account-opening services since 2019. “These... https://www.scmp.com/business/banking-finance/article/3294578/hongkongers-can-use-fps-cross-border-payments-midyear-hkma?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3294578/hongkongers-can-use-fps-cross-border-payments-midyear-hkma?utm_source=rss_feed Mon, 13 Jan 2025 11:23:02 +0000 Jane Cai,Sylvie Zhuang,Phoebe Zhang,Vanessa Cai Jane Cai,Sylvie Zhuang,Phoebe Zhang,Vanessa Cai China spent the past year opening its arms to foreign visitors in an effort to revive its sluggish economy and improve the country’s image internationally in the wake of the Covid-19 pandemic. The easing of visa restrictions, and other measures, have helped drive an 86 per cent increase in visitor numbers in the first 11 months of the year compared with the same period in 2023, according to the National Immigration Administration. But the 29 million trips from overseas recorded to the end of... https://www.scmp.com/news/china/diplomacy/article/3292903/chinas-efforts-bring-back-foreign-visitors-are-bearing-fruit-will-they-be-enough?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3292903/chinas-efforts-bring-back-foreign-visitors-are-bearing-fruit-will-they-be-enough?utm_source=rss_feed Tue, 31 Dec 2024 14:00:08 +0000 Coco Feng Coco Feng Alipay, the payment app owned by fintech giant Ant Group, has launched an artificial intelligence (AI)-powered feature that generates information from images uploaded by users, in the latest move to ensure its position as a “super app” for China’s internet users. The “Tanyixia” function, which means “do a little search”, allows users to scan or upload a picture to obtain information about topics such as plants, animals, food and even cartoon characters, or translate a menu or drug instructions,... https://www.scmp.com/tech/tech-trends/article/3292878/alipay-adds-ai-image-search-enhance-super-app-role-rivalry-tencents-wechat?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3292878/alipay-adds-ai-image-search-enhance-super-app-role-rivalry-tencents-wechat?utm_source=rss_feed Tue, 31 Dec 2024 09:00:35 +0000 A San Francisco jury on Tuesday found a tech consultant guilty of second-degree murder in the stabbing death of Cash App founder Bob Lee, which carries a sentence of 16 years to life. Jurors took seven days to deliver their verdict against Nima Momeni in the April 4, 2023, death of Lee, a tech mogul who was found staggering on a deserted downtown street, dripping a trail of blood and calling for help. Lee, 43, later died at a hospital. “We think justice was done here today,” the victim’s... https://www.scmp.com/news/world/united-states-canada/article/3291270/us-tech-consultant-found-guilty-murder-cash-app-founder-bob-lee?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3291270/us-tech-consultant-found-guilty-murder-cash-app-founder-bob-lee?utm_source=rss_feed Tue, 17 Dec 2024 19:23:17 +0000 Zhou Xin Zhou Xin Jack Ma, the founder of Alibaba Group Holding, gave a rare public speech at the 20th anniversary of the company’s fintech business, saying he had faith in the “next 20 years of Ant” and expects “more miracles”, according to Chinese media reports and people who were there. Ma’s attendance at the evening event on Sunday was the first time he had addressed Ant Group since it withdrew its mega initial public offering (IPO) in Hong Kong and Shanghai in November 2020. Early last year, the Chinese... https://www.scmp.com/tech/big-tech/article/3289918/jack-ma-makes-rare-speech-ant-groups-20th-anniversary-predicts-ai-driven-future?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3289918/jack-ma-makes-rare-speech-ant-groups-20th-anniversary-predicts-ai-driven-future?utm_source=rss_feed Mon, 09 Dec 2024 02:15:45 +0000 Sylvia Ma Sylvia Ma The downfall of Yao Qian, who spearheaded China’s digital currency design at the People’s Bank of China, has raised concerns over the digital yuan’s development. China’s top anti-corruption watchdog has accused Yao, who was the inaugural director of the PBOC’s institute overseeing digital currency research, and later head of the securities regulator’s tech-supervision department, of taking bribes through cryptocurrencies. The country’s first cryptocurrency-related corruption case raises... https://www.scmp.com/economy/china-economy/article/3288723/chinas-digital-yuan-roared-out-gate-stumbling-blocks-could-give-it-pause?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3288723/chinas-digital-yuan-roared-out-gate-stumbling-blocks-could-give-it-pause?utm_source=rss_feed Sun, 01 Dec 2024 01:00:11 +0000