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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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New SWIFT joint venture to set up localised data warehouse for China's central bank

News | Payments General | 24 Mar 2021

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

Basware launches e-invoice receiving and validation solution

News | E-invoicing, SCF & E-procurement | 25 Mar 2021

Basware has announced it is now offering a fapiao-compliant e-invoice receiving and validation solution. 

e-invoicing, product upgrade

China's central bank to employ controllable anonymity for the e-yuan

News | Cryptocurrencies | 26 Mar 2021

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 gains mobile payment license after its latest acquisition

News | Mobile Payments | 29 Mar 2021

Huawei has gained a mobile payment license in China after acquiring Shenzhen Xunlian Zhifu Network.

Huawei, acquisition, mobile payments

Manu Atelier launches on Net-a-Porter China

News | Ecommerce | 31 Mar 2021

Turkey-based leather goods company Manu Atelier has launched on Net-a-Porter China to grow its business and target the East Asian market.

expansion, marketplace, ecommerce, online shopping, COVID-19

China to conduct CBDC tests in Hainan Province

News | Cryptocurrencies | 12 Apr 2021

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 to reportedly begin expansion in China

News | Online & Mobile Banking | 13 Apr 2021

Revolut has reportedly kicked off the process of expanding into China, which will see the challenger bank seek approval from regulators to operate in the country, according to The Telegraph.

Revolut, challenger bank, digital banking, expansion

Splitit partners with UnionPay to offer cardholders instalment payments

News | Online Payments | 13 Apr 2021

Splitit has partnered with UnionPay International, part of China UnionPay, the provider of bank card services and a major card scheme in mainland China.

Splitit, UnionPay, partnership, BNPL, online payments

China's bank regulator tightens requirements on banks' internet loan businesses

News | Payments General | 22 Feb 2021

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 featured in digital RMB hardware wallet trials

News | Digital Identity, Security & Online Fraud | 19 Feb 2021

IDEX Biometrics has announced that its fingerprint sensors and biometric software have been included in digital Renminbi (RMB) trials launched by the Postal Savings Bank of China.

IDEX Biometrics, digital RMB, digital renminbi, digital yuan, CBDC, China, Asia, biometric authentication, fraud prevention, digital identity

Huawei to buy Xunlian Zhipay for payment license

News | Mobile Payments | 16 Feb 2021

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

China puts emphasis on e-invoicing and tax compliance

News | E-invoicing, SCF & E-procurement | 05 Feb 2021

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 to restructure as financial holding company

News | Payments General | 05 Feb 2021

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 sets up financial gateway joint venture in China

News | Payments General | 05 Feb 2021

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

ZW Data launches supply chain finance solution

News | E-invoicing, SCF & E-procurement | 03 Feb 2021

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 achieve payment card China UnionPay certification

News | Digital Identity, Security & Online Fraud | 03 Feb 2021

IDEX Biometrics’ fingerprint sensor and Tongxin Microelectronics’ (TMC) secure element (SE) have been included in a second biometric payment card certified by China UnionPay (CUP). 

IDEX Biometrics, Tongxin Microelectronics, partnership, China, UnionPay certification, cards, payments , biometrics

China closer to piloting the use of CBDC

News | Cryptocurrencies | 25 Jan 2021

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

Chinese banks may be working on digital yuan wallets

News | Cryptocurrencies | 25 Jan 2021

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

PBOC drafts antitrust measures for non-bank payment companies

News | Online & Mobile Banking | 22 Jan 2021

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

TikTok owner ByteDance rolls out Douyin Pay, a mobile payment service for China

News | Mobile Payments | 19 Jan 2021

Tik Tok owner ByteDance has launched a third-party payment service for the Chinese version of its short video app TikTok, called Douyin Pay.

ByteDance, product launch, third-party payment service, China, Douyin Pay, mobile payments, virtual gifts