Remittances to developing countries are expected to reach $435 billion this year, representing a 5 percent increase over 2013. Remittances also grew faster this year–in 2013, the annual growth rate was around 3.4 percent. The main drivers for growth were Asia and South America. Get...
Back in March, China bans using QR Code for payments, but that may end shortly, according to a report in Mobile Commerce News. The initial ban from the Central Bank was issued because of security concerns. Get the Full Story Complete the form to unlock...
Samsung is making its NFC payment move in China, in a deal with UnionPay, China’s largest payment card firm. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
China’s two biggest online services already have large payments operations — and now both have permission to be bankers, too. On Monday (Sept. 29), Alibaba Group’s Alipay affiliate won permission from the China Banking Regulatory Commission to set up a privately owned bank, according to...
Alibaba and Tencent are engaged in a struggle to control the internet, both in China and possibly worldwide. Their latest battlefield will apparently be financial services, as each have won approvals from Chinese authorities to set up privately owned banks. Get the Full Story Complete...
The three months through September were still the busiest for IPOs in four years and would have been even if Alibaba had never set foot in the U.S. and gone public. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Non-cash payments ticked up 10 percent in 2013 to 366 billion transactions, pulled along by intense growth in developing markets. According to RBS data, nearly a quarter of all global non-cash transaction growth–that’s about 93 billion transactions–happened in those developing markets. China remains less developed...
The Chinese government is officially allowing Apple to start selling the iPhone 6/6 Plus in China after extracting a privacy promise from Apple “that it would never allow any country or government agency backdoor access to its devices or user data,” according to a report...
The Korean online payment market is rapidly expanding, but there is no native online payment service such as Alipay or PayPal to serve the increasing number of people looking for a digital platform for card and payment information. Get the Full Story Complete the form...
