Articles with tag like: China

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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

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

Hong Kong-based startup ICW to invest in supply chain offering

News | E-invoicing, SCF & E-procurement | 02 Feb 2021

Hong Kong-based International Compliance Workshop (ICW) has raised USD 5.75 million as part of its Series A round, boosting its total funding to around USD 10 million, according to Yahoo Finance.

Hong Kong, startup, ICW, International Compliance Workshop, supply chain finance, COVID-19, global trade, China, US

Cross-border ecommerce in the COVID-19 era and beyond

Voice of the Industry | Ecommerce | 02 Feb 2021

Cosmin Dan from Euromonitor International provides a comprehensive overview of the current landscape in cross-border payments, sharing insights into relevant regions, key players, and upcoming trends

Cosmin Dan, Euromonitor International, cross-border, ecommerce, COVID-19, APAC, Russia, Canada, US, China

Ant Group plans to sell biometric security firm EyeVerify

News | Payments General | 28 Jan 2021

Tech in Asia has reported that Ant Group is planning to sell its US-based asset EyeVerify, a biometric security firm.

Ant Group, US, biometrics, security, EyeVerify, business sale, US, China, banking, payments

Digital wallet provider TNG Digital to secure USD 150 mln investment

News | Cryptocurrencies | 25 Jan 2021

Digital wallet provider TNG Digital, launched by CIMB Bank and Ant Group, has plans to secure $150 million in capital, according to Crowdfund Insider.

digital wallet, TNG Digital, investment, CIMB Bank, China, Ant Financial, Ant Group, online wallet, digital payment, Malaysia, COVID-19, Touch ‘n Go, money market unit trust fund

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

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

ByteDance to enter the finance sector via SCF subsidiary

News | E-invoicing, SCF & E-procurement | 18 Jan 2021

TikTok’s parent ByteDance has established a factoring service which will offer financing, collect accounts receivables, and provide guarantees.

ByteDance, TikTok, China, Zitiao, micro loans, online payments, factoring

China's BSN blockchain network plans multinational CBDC pilot in 2021

News | Cryptocurrencies | 18 Jan 2021

China’s Blockchain-based Service Network (BSN) has outlined a plan for a global network that will support future central bank digital currencies (CBDC) from multiple countries.

Blockchain-based Service Network, API, CBDC, China, BSN, blockchain, payments, digital yuan

Worldline launches China All-In-One solution

News | Online Payments | 14 Jan 2021

Worldline has launched its China All-In-One solution from Ingenico, which unifies its suite of Chinese payment solutions, including AliPay, WeChat Pay, and UnionPay, into one package.

Worldline, launch, China, China All-In-One, Ingenico, Alipay, WeChat Pay, UnionPay, ecommerce, online payments, local payments methods, QR code

PayPal becomes first foreign company to provide digital payments in China

News | Online Payments | 13 Jan 2021

US-based fintech PayPal has completed a stake acquisition deal of Gopay, making it the first foreign company to offer digital payment services in China.

PayPal, China, Asia, acquisition, GoPay, fintech, digital payments services

China to push its tech giants to share consumer credit data

News | Online Payments | 12 Jan 2021

China has shown signs of trying to push tech giants including Ant Group, Tencent, and JD.com to share consumer loan data to prevent excess borrowing and fraud.

China, Ant Group, Tencent, JD, consumer data, credit agencies, banks, PBOC, Open Banking, Open Data

PBOC tests CBDC for in-store payments via contactless cards and wearables

News | Cryptocurrencies | 11 Jan 2021

The People’s Bank of China (PBOC) has begun piloting its central bank digital currency (CBDC) for in-store payments via contactless cards and wearables.

CBDCs, card wallets, NFC, contactless hard wallet, NFC, wearables, China, merchants, payments, digital yuan, People’s Bank of China, PBOC