China

Why China Needs More Than Mobile Payments

Why China Needs More Than Mobile Payments

The smartphone sits at the heart of modern China. With the success of AliPay and WeChatPay – both boasting hundreds of millions of users in China alone compared to Apple Pay’s total 127 million users – paying with mobile is commonplace. In fact, card is quite the novelty.

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China’s Fintech Revolution Is Potentially ‘A Very Big Risk,’ Says Finance President

China’s Fintech Revolution Is Potentially ‘A Very Big Risk,’ Says Finance President

The sheer number of fintech companies setting up in China has the potential to become a very big risk, according to the president of Chinese financial investment platform, Phoenix Finance.

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Why This One Factor Sets China Apart in the Blockchain Frenzy

Why This One Factor Sets China Apart in the Blockchain Frenzy

As the blockchain sector develops, many in the space are keeping a watchful eye on China’s advances in the arena. Indeed, the recent Consensus: Invest 2018 conference even dedicated a specific portion of the afternoon of a one-day conference to solely discuss the difference between the U.S. and China blockchain ecosystems.

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Beijing Plots to Make Fintech Grand Thing

Beijing Plots to Make Fintech Grand Thing

Beijing has great ambitions in the fintech space to attract international firms to the city and create innovation clusters.

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Chinese Tourists Outspend Other Travelers, Thanks to Mobile

Chinese Tourists Outspend Other Travelers, Thanks to Mobile

If you have been to Las Vegas or other locations in the US that attracts tourist from abroad, you will undoubtedly notice the increase in travelers from China.  Trade war aside, the Chinese government is relaxing a rules on travel by their citizens, plus the middle class is now becoming wealthy enough to consider taking […]

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Singapore, China to Collaborate on Fintech, Supervision of Futures Exchanges

Singapore, China to Collaborate on Fintech, Supervision of Futures Exchanges

Two agreements inked between financial agencies will pave the way for China and Singapore to collaborate on fintech innovations and cross-border supervision of futures exchanges and intermediaries.

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Singles Day Shows Biometrics Are the Norm for Payments in China

Singles Day Shows Biometrics Are the Norm for Payments in China

Chinese consumers were quick to adopt digital payments, and a recent shopping binge showed they are ready for another leap: biometric payments. On November 11, Alibaba wrapped up Singles Day the worlds largest shopping event and hauled in30.8 billion in total transactions, a staggering amount bigger than Cyber Monday and Black Friday combined.

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Mobile Payments Series: China

Mobile Payments Series: China

In China, mobile payments have made large inroads thanks to rapid smartphone adoption and the absence of alternative payment methods.This year, we expect 525.1 million people in the country will use mobile payments, making up 45.2% of the population. That’s an increase of 13.2% from a year prior.

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Alibaba Sets New Singles Day Record With More Than $30.8 Billion in Sales in 24 Hours

Alibaba Sets New Singles Day Record With More Than $30.8 Billion in Sales in 24 Hours

Alibaba on Sunday tore through last year’s Singles Day sales record, racking up more than $30.8 billion in the 24-hour shopping event. Gross merchandise value (GMV), a figure that shows sales across the Chinese e-commerce giant’s various shopping platforms, surpassed last year’s $25.3 billion record at around 5:34 p.m. SIN/HK (4:34 a.m.

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China Gives American Express First Shot at Its Huge Payments Market

China Gives American Express First Shot at Its Huge Payments Market

American Express just became the first US credit card company to get the green light to start building its own payments network in China.The company said Friday that the Chinese central bank has given it preliminary approval to handle payments in yuan.

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Winning Singles Day in China Means Mastering Mobile’s User Experience

Winning Singles Day in China Means Mastering Mobile’s User Experience

November’s holiday sales extravaganzas have gone global. China consistently sets global sales record at this time of year. That’s why U.S. and foreign retailers and brands should pay close attention to this massive retail market this month, as China’s e-commerce leadership influences global retail trends.

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No Cash, No Cards: Paying by Phone Rules in China’s Cultural Revolution

No Cash, No Cards: Paying by Phone Rules in China’s Cultural Revolution

Mobile payments rule supreme in China; cards are viewed as archaic. Beijing’s young have never owned wallets; the older ones are dumping them too. Cash stopped being king years ago; debit and credit cards, which barely took off in China anyway, have quietly faded away.

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