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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.

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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

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

The Importance of E-Wallets for Online Gaming Sites

With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.

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e-wallet

Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.

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Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

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BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

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