TOPIC

Mobile payments

Mobile payments
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.
A customer makes a payment using China’s digital currency, or e-CNY, at a store in Beijing. Photo: Getty Images
Yuan

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

Ant Group

Alipay+ announces sponsorship deal with WNBA team New York Liberty

Ant Group

Ant International signs WNBA star Sabrina Ionescu as brand ambassador

Artificial intelligence

Big Tech firms bet big on AI glasses, as Ant offers iris authentication

Heavyweights including Alibaba, Baidu and Xiaomi are vying to dominate what a market research firm calls a ‘war of 100 smart glasses’.

Chinese electronics makers Xiaomi and Meizu will be the first to offer Ant’s AI-based iris verification feature. Photo: Handout
Ant Group

Ant Digital warns of fake tokens as crypto scams persist in Hong Kong

The Ant Group affiliate says it has not issued any token on any blockchain.

Blockchain

Crypto cooperation between Hong Kong, mainland China to benefit sector: experts

The mainland already leads in fintech growth, while Hong Kong is at the forefront of crypto regulation.

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Smartwatches

Meet Little Genius, the smartwatch brand ruling China’s playgrounds

With their precise location-tracking features and kid-friendly ecosystem, Little Genius devices have captured a niche market.

Little Genius smartwatches displayed at a store in Shanghai. Photo: Wency Chen
Hong Kong economy

Hong Kong travellers demand refunds after Octopus service glitches in Japan

New service faces backlash as users report frequent system malfunctions, payment failures and double charges.

Hong Kong economy

Explainer | How Hongkongers can use Octopus for payments in Japan and what the perks are

The Post unpacks the steps required to make payments through Octopus, along with benefits and limitations.

Stablecoins

Trump-led venture lauds USD1 stablecoin’s potential for ‘dollarising the world’

At the Token2049 event in Singapore, World Liberty Financial says it will launch a debit card in the fourth quarter or early in 2026.

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World Liberty Financial co-founder Donald Trump Jnr takes centre stage at the Token2049 event in Singapore on Wednesday. He is flanked by entrepreneur Mario Nawfal, left, and US Bitcoin Corp CEO Mike Ho. Photo: Token2049
Ant Group

Alipay, Weixin Pay embrace China’s new cross-border payment system

The official system aims to improve payment convenience for foreign visitors using their countries’ bank cards or e-wallets.

An Alipay QR code (left) and a Weixin Pay QR code displayed at a shop in Beijing. Photo: AFP
Ant Group

Ant Group-backed Hello unveils robotaxi to challenge Baidu in China

The firm plans to deploy 10,000 self-driving taxis in more than 10 cities next year, and expand to 50,000 vehicles globally by 2027.

Video | Why Hong Kong is slow to adopt digital payments

Hong Kong’s adoption of digital payments has lagged behind many other cities, with most local businesses still preferring cash, the Octopus contactless system or credit cards.

Hong Kong transport

Taxi drivers encouraged to embrace e-payments with Hong Kong start-up Dash system

Drivers offered zero-commission integrated system as pressure builds to adopt digital payments as part of new government regulations.

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Jason Ma, founder of the start-up Dash, is aiming to encourage taxi drivers to embrace digital payments with a new integrated e-payment system. Photo: May Tse
Apple

Apple eyes Douyin Pay for China App Store while speculation swirls on new iPhone

The potential addition of Douyin Pay to Apple’s China App Store reflects the continued growth of mobile payment services in the country.

Apple’s China App Store currently offers mobile payment services from Alipay, WeChat Pay and China UnionPay. Photo: Shutterstock
IPO

SoftBank selects banks for US IPO of payments app amid tech rebound

US IPO activity has gained momentum in a long-awaited rebound, supported by strong tech earnings and signs of progress in trade talks.

Hong Kong economy

Editorial | Payment Connect can boost Hong Kong as a hub for international finance

Programme is the latest step in more than a decade of work to open mainland China’s vast financial sector to the rest of the world.

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Banking & finance

Hongkongers, mainland residents embrace Payment Connect service on first day

New service operates smoothly as thousands take advantage of link between Hong Kong’s FPS and the mainland’s IBPS.

The system connects 315 million users of payment services in Hong Kong and mainland China. Photo: Shutterstock
Ant Group

Ant Group pushes wider adoption of AI-enabled smart glasses for mobile payments

The first such payment outside mainland China was recently completed in Hong Kong, using the AlipayHK app and Meizu’s StarV smart glasses.

Ant Group

Ant International issues first sustainability report after spin-off

Speculation has been rife over a potential listing by the company, which was spun off from Ant Group last year as part of a restructuring.

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Blockchain

With early stablecoin law, Hong Kong looks to keep edge as finance hub

Hong Kong is looking to ‘secure a leading role in global payment systems’, one analyst says, as law comes ahead of a similar US stablecoin bill.

A view of Hong Kong’s central business district on October 9, 2024. Some analysts see the city’s new stablecoin law as providing advantages for maintaining its position as a finance hub. Photo: May Tse
Blockchain

OKX sees tipping point for blockchain tech amid rising crypto sentiment

OKX chief commercial officer Lennix Lai says the exchange is focused on building compliant services in the US and Singapore, among other markets.

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OKX, one of the world’s largest cryptocurrency exchanges, moved its headquarters to the US this year. Photo: Shutterstock
Alibaba

Alibaba’s Amap offers ride-hailing function catering to China’s foreign visitors

Amap’s ride-hailing feature, available on the platform’s English version, reflects support for China’s visa-free travel scheme.

Ant Group

Ant Group’s global unit pulls in US$3 billion in revenue ahead of spin-off

Ant International could fetch an IPO valuation of between US$8 billion to US$24 billion if it lists in Hong Kong, analysts say.

Crime in Hong Kong

Mainland bank in Hong Kong investigates unauthorised transactions on FPS platform

China Construction Bank (Asia) client says she lost HK$20,000 through FPS transfers, with experts suggesting hacking may be involved.

A businesswoman, surnamed Chen, has said she lost HK$20,000 through unauthorised transactions via the FPS platform. Photo: Handout
Fintech

Alipay and WeChat Pay see booming inbound spending in China for Labour Day

Preliminary data from the country’s two dominant mobile payment apps show two-to-three times the spending from a year ago, much of it from Hong Kong.

QR codes for WeChat Pay (left) and Alipay seen at a grocery store in Beijing on September 19, 2020. Photo: AFP
Artificial intelligence

Geely-owned DreamSmart to push mobile payments via AI smart glasses

DreamSmart is working with Ant International to enable mobile payments for users of its StarV Air2 eyewear.

Ant Group

Alipay leads China’s payments market as tap-and-pay reaches 100 million users

Alipay, launched 20 years ago by Alibaba Group, has proved to be a revolutionary product that changed the way Chinese people make payments.

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