Discover all the payments and fintech-related news and analysis about China in The Paypers News, Reports, along with other China-specific insights on the payments and fintech industry:
Discover all the payments and fintech-related news and analysis about China in The Paypers News, Reports, along with other
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China's central bank has announced that the newly established joint venture with the Belgium-based SWIFT financial messaging service will set up a localised data warehouse.
SWIFT, Swift messages, cross-border payments, payments infrastructure, settlement, banks
e-invoicing, product upgrade
China’s central bank is trying to allay privacy worries associated with its digital currency by promising a system in which the user is anonymous unless suspect of fraud.
digital currency, CBDC, e-wallet, fraud prevention
Huawei, acquisition, mobile payments
expansion, marketplace, ecommerce, online shopping, COVID-19
The People’s Bank of China (PBOC) has started to conduct CBDC pilot tests in Hainan Province, following similar tests in other provinces.
CBDC, digital currency, central bank, Alipay, WePay
Revolut, challenger bank, digital banking, expansion
Splitit, UnionPay, partnership, BNPL, online payments
China’s bank regulator has tightened requirements on the internet loan business of commercial banks.
loans, Commercial Bank, regulator, China, BNPL, Ant Group
IDEX Biometrics, digital RMB, digital renminbi, digital yuan, CBDC, China, Asia, biometric authentication, fraud prevention, digital identity
Huawei has been in talks to acquire Xunlian Zhipay, a licensed clearing house, although, the deal has not yet been officially announced and requires regulatory approval.
Huawei, mobile payments, payment license, acquisition, Huawei Wallet
Starting from 21 January 2021, China has taken the step of allowing the issuance of ‘special’ VAT e-invoices to strengthen tax compliance.
China, VAT, e-invoicing, SCF, tax, B2B payments, invoicing, ERP, CIT, special vat
Ant Group has reached a restructuring agreement with the Chinese regulator to turn the fintech firm into a financial holding company.
Ant Group, China, restructuring, regulator, banking, holding company, nationalise
SWIFT, the global system for financial messaging and cross-border payments, has set up a financial gateway joint venture (JV) with subsidiaries of the People’s Bank of China (PBoC).
SWIFT, China, PBOC, JV, CNCC, fgis, finance gateway information service, pcac, venture, funding
China-based ZW Data has launched ‘The Finance’, its supply chain finance solution that targets the key opinion leaders (KOLs) and online-to-offline (O2O) ecommerce industry.
ZW Data, China, KOLS, O2O, blockchain, bif, WePay, ecommerce, digital assets, DCEP, Bitcoin, Ehereum
IDEX Biometrics, Tongxin Microelectronics, partnership, China, UnionPay certification, cards, payments , biometrics
China’s biggest cities have come closer and closer to holding pilots to promote the use of the country’s central bank digital currency (CBDC) in 2021.
China, CBDC, cryptocurrency, crypto testing, digital banking, centralised currency, DCEP, innovation
Eight commercial Chinese banks may be working on their own digital yuan wallets or banking platforms that can interoperate with the token.
China, banking, digital wallets, CBDC, digital yuan, online banking, digital banking
China’s central bank has proposed stepping up antitrust measures for companies in the non-bank payments industry, such as Ant Group’s Alipay and Tencent’s WeChat Pay.
PBOC, Ant Group, Tencent, fintech, payment market, banking, monopoly
ByteDance, product launch, third-party payment service, China, Douyin Pay, mobile payments, virtual gifts