APAC

Opening Up Inter-bank System FAST Will Spur Innovation, Create Better Services: Experts, Fintech Firms

Consumers can expect greater convenience and more innovative e-payment services when non-bank players get direct access to FAST, experts say.

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The Success Story of the Fintech Revolution in China

In the last couple of years, China has emerged as the global leader when it comes to the Fintech sector. It accounts for approximately 75 of the world market when it comes to online lending. It has seen tremendous growth in internet loan and third-party payment segments.

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Singapore Launches Unified Payment QR Code, Said to Be World’s First

Singapore unveiled the first-of-its-kind unified payment QR code on Monday, in an announcement by the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA).

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Alibaba Leads China’s Drive to Secure New Blockchain Technologies

Alibaba Group Holding has filed more than 10 per cent of the world’s patent applications for blockchain in a sign of China’s ambitions to dominate the next generation technology in uses beyond cryptocurrencies. China filed more patent applications than the U.S.

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As Regulators Circle, China’s Fintech Giants Put the Emphasis on Tech

FOR those still trying to work out what exactly fintech involves, we are sorry to bring you this update from China, a world leader in mixing finance with technology. Fintech is pass; the hot new thing is techfin.

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Japan Post to Accept Cashless Payments by Time of Tokyo Olympics

Japan Post Co. plans to accept cashless payments for postcards and parcel deliveries at its post offices by early 2020. Currently, customers can purchase postcards and pay parcel delivery fees at post offices with only cash or stamps, while post offices in many other countries offer cashless settlement services.

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A Snapshot of Digital Payments in Asia

We’ve all heard of how you can pay for street food in Beijing with a wave of WeChat Pay or Alipay, or how it’s better to lose your wallet than your smartphone in China. But this is not the reality in most parts of Asia whether in affluent Singapore or an emerging market like Indonesia.

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Japanese E-Commerce Giant Rakuten Buys a Bitcoin Exchange

Japanese retail conglomerate, Rakuten, has announced the purchase of Everybody’s Bitcoin Inc., an unlicensed cryptocurrency exchange platform in the country. The acquisition follows a history of past forays into the emerging industry by the e-commerce behemoth.

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Cryptocurrency Traders in China Find Ways to Get Around State Regulators

Industry observers are certain that Chinese investors will always find ways to circumvent increasingly tightening controls over cryptocurrency trading by mainland authorities, making it practically impossible to ever impose a complete shutdown on trading.

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China Shows Road for Blockchain Beyond Cryptos?

A journey of a thousand miles begins with a single step: The well-worn proverb may apply to China’s approach to blockchain. Steps make strides, strides make progress in payments and business – and how firms do business with one another. It’s no secret that China has been wrestling with cryptocurrencies.

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Alipay Partners With Yahoo Japan to Expand Mobile Payments Reach

Ant Financial Services Group and Yahoo Japan have formed a partnership, hoping to grab a slice of the mobile payments business in Japan, the two companies said Wednesday.

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How the Shift in Retail Drives Card Adoption in China

Nearly one-third of total retailing in China is expected to come from online channels by 2022, marking a nine-percentage point gain from 2017. This shift has resulted in several non-traditional financial service providers gaining share by reaching previously unbanked consumers through mobile devices and online marketplaces.

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