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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.
China officially connected to the internet in April 1994. Today, its online influence is stronger than ever.
The MTR fined nearly 4,300 people for misusing the fare scheme in the nine months through February, while the Transport Department inspected buses and ferries across 650 routes.
De facto central bank aims for first-mover advantage through blockchain technology, providing welcome lift to Hong Kong’s image as global financial centre
Foreigners having trouble making mobile payments in China is just a trivial issue when it comes to the cost of its walled internet.
As a leading international financial hub, the city has an important e-CNY role to play when it comes to global trade and business.
After all the regulatory tweaks and ratifications, Chinese president’s statement is the clearest sign yet that the reform campaign for sector is done for now.
- Charles Li, former head of the Hong Kong exchange, said his new firm could expand its financing model to Southeast Asia as early as the fourth quarter
- The company has focused its financing in exchange for a cut of daily income in mainland China, where mobile payments make it easy to track revenue
Scam operators seemingly thumb their noses at the regulator, which recently launched a campaign warning the public about financial frauds.
Bindo Labs subsidiary Wonder will try to kick-start adoption by giving taxi drivers the required equipment – worth HK$8,600 (US$1,098) – for the next six months.
Tackling payment issues is a small but important part of Beijing’s broader efforts to bring down barriers for foreigners in China, with a particular focus on the start of the Canton Fair later this month in Guangzhou.
Mobile payments made through 16 wallets supported by Alipay+ now account for 10 per cent of total tourist spending in Japan, unit president Douglas Feagin says.
This initiative escalates ByteDance’s efforts to expand the reach of its social media operation into a potentially large e-commerce revenue stream.
Post finds new ‘Octopus - China T-Union Card’, which allows for public transport use in 336 mainland cities, has been selling fast at MTR stations and convenience stores.
Although overseas visitors to China have increased after some visa requirements were lifted, other barriers to travel and inconveniences when visiting have been enough to discourage more from planning a trip.
Readers discuss the need to better integrate the payment systems of the two Chinese cities, and foreigners’ worries about travelling to China.
The Hong Kong Monetary Authority has launched the second phase of a pilot programme to explore ‘innovative’ uses for a central bank digital currency (CBDC) for public use, five months after it unveiled the results of the first trial run.
China’s State Council vows to further support policies to optimise payment methods and pledges wider support for currency exchange services as part of efforts to address hurdles faced by foreigners.
Ant Group’s Alipay and Tencent’s WeChat Pay are enhancing operations to make it easier for foreign travellers to pay for goods and services on the mainland, the world’s largest cashless society.
Shenzhen’s municipal government plans to boost the number of its native apps built on HarmonyOS and push for their adoption across major sectors, including education, healthcare, banking, transport and welfare.
Paying for everything from daily goods to big-ticket items with mobile devices in China rapidly became fast and convenient for Chinese people, but it can leave outsiders feeling like their money is not wanted.
Hong Kong banks are going all out to promote e-lai see, as sending and receiving lucky money electronically is fast rivalling the traditional practice of handing out red envelopes with money.
Ant Group and the Shanghai municipal government have struck a partnership that would see the two parties deepen their collaboration in fields such as blockchain and artificial intelligence.
New system linking meter to e-payment modes will be tested under pilot phase, developers say.
The founder also warns staff to focus on ‘safety, not speed’ when venturing into new fintech services like loans and insurance, according to Chinese media reports and people familiar with the situation.
The move comes as China has waived visa requirements for travellers from several countries, while Chinese tourists are expected to head abroad during Lunar New Year.
Some platforms have grown in popularity since pandemic, but merchants complain about relatively high transaction fees for e-payment systems, say they prefer cash.
The use of cheques in the city could end as the Hong Kong Association of Banks works out a road map to phase it out amid an irreversible shift to electronic payments.
The call to break more digital barriers in China’s internet industry comes days before Tencent’s flagship video game, Honour of Kings, returns to ByteDance-owned Douyin’s live-streaming platform.
Octopus says it will open up its payment networks for the first time in 26 years to UnionPay, Alipay and AlipayHK.
The People’s Bank of China announced on Saturday that Alipay.com Co has no controller, paving the way for owner Ant Group’s IPO.
