Banking

Insights from China’s Next generation payment technologies

Payment technologies in China have exploded recently: they enable many types of payments including P2P (peer to peer), functioning online, offline, short and long range.

Published

4 years ago

November 15, 2016

Zhang Fang

Payment technologies in China have exploded recently: they enable many types of payments including P2P (peer to peer), functioning online, offline, short and long range.

Today’s mobile payments combine various detection and identification technologies, such as Near Field Communication (NFC), and biotechnologies, for example fingerprint identification.

SUCCESS STORIES: ALIPAY AND TENPAY

According to Big Data Research, in 2015 Alipay and Tenpay were the two biggest players in China in the third party mobile payment sector, respectively holding some 79.8% and 12.9% of market share, in terms of user service consumption volumes. (See chart below.)

These two market leaders are well-known for their digital payment platforms – Alipay and WeChat Pay. These can be fully integrated with traditional banks’ deposit accounts to enable real-time transfers between accounts.

These two market leaders are well-known for their digital payment platforms – Alipay and WeChat Pay

The key is to grasp and exploit opportunity as soon as possible, by identifying relevant and applicable ideas to satisfy users’ real needs.

Source: Next generation payment technologies: Insights from China

Banking

APAC corporates likely to improve in 2021

Moody’s Investors Service says in a new report that credit conditions in APAC will improve in 2021, supported by the gradual recovery of economic activity given the early containment of the pandemic in several Asian economies.

Published

3 days ago

January 20, 2021

Pr News

Ongoing fiscal and monetary support in both advanced and emerging markets will also aid improving conditions, but renewed lockdowns in parts of the world have stalled the nascent global economic recovery and create uncertainty around improving credit conditions.

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Banking

Can Fintech drive a strong post-COVID-19 recovery in Asia?

The pandemic has highlighted the power of digital technology. Now is the time to harness this power for inclusive growth so that communities, especially in poor and remote areas, can survive the crisis and thrive.

Published

4 days ago

January 19, 2021

Asian Development Bank

To say 2020 has been a challenging year is a massive understatement. The COVID-19 pandemic has quickly undermined development gains from recent decades and slowed growth in many Asian economies.

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Banking

BoT sees mild impact of new COVID-19 wave on the economy

The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

Published

5 days ago

January 18, 2021

National News Bureau of Thailand

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.

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