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You can now pay for goods and services in China by using WeChat Pay, the Chinese payment giant. JCB, Discover Global Network, MasterCard, American Express, and Visa are among the credit card companies WeChat Pay has partnered with to make credit card use even easier for foreign tourists. Table of contents 1. Can Malaysia WeChat […]
Will China pave the way for large-scale CBDC usage?
The Straits Times China's crackdown on Alibaba and other big tech firms will change industry in massive way There are concerns that companies like Alibaba could pose a challenge to existing systems through their monopoly of various sectors in China.PHOTO: AFP https://str.sg/JFvy They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months.
Chinese regulators have told fintech teams to solve “problems” Chinese officials have told the country’s 13 largest technology companies to “correct significant problems” on their platforms, a sign that the regulatory pressure on the fintech sector is spreading beyond Jack Ma’s Ant Group. Fencech affiliates of Tencent, ByteDance and Baidu, JD.com, Meituan and Didi were in a group called to meet with officials from the People’s Bank of China and other banks, securities and foreign exchange regulators, according to the Xinhua State News Agency. Ant Group, this was it restructuri...
China digital currency trials show threat to Alipay, WeChat duopoly Today 05:01 am JST Today | 06:35 am JST SHANGHAI In China's commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay. The banks are persuading merchant and retail clients to download digital wallets so that transactions during the pilot program can be made directly in digital yuan, bypassing the ubiquitous payment plumbing laid by tech giants An...