British fintech sector has shrugged off Brexit dip, says regulator
Britain’s financial technology sector has recovered from an initial dip after Britain’s vote to leave the European Union, a senior UK regulator said on Monday. Fintech companies have revolutionised the financial sector with the likes of mobile payments services and were quickly targeted by centres such as Berlin and Luxembourg after last June’s Brexit vote, playing on fears that UK businesses could be cut off from the EU single market when Britain leaves in 2019. “In the immediate aftermath of the EU referendum there was a concern that we would see the number of innovative firms wanting to operate in the UK fall,” Chris Woolard, director of strategy and competition […]
China’s rapid uptake of mobile payments forcing businesses to adapt
Looking to get rich quickly, two young men travelled across China last month with a plan to rob three convenience stores in the wealthy coastal city of Hangzhou. They bought knives, masks and an electric bike and in the early hours of March 27, set off on their heist, targeting busy downtown areas. But, unfortunately for the robbers, the cash registers were bare. Across the three stores they managed to pilfer less than 1900 yuan ($362), not even enough to pay for their train tickets home. As the frustrated pair now contemplate jail time their tale of woe has become a signpost for the rise of China’s cashless economy and […]
Whatsapp thinking of taking the digital payment service plunge in India
A new job posting on Whatsapp’s official website has made everyone wonder on company’s future intentions with respect to the Indian market. The job posting calls for candidates to apply for Digital Transaction Lead, India who possess in-depth knowledge of Unifies Payments Interface (UPI). This clearly indicates that WhatsApp may have intentions to join the payments service market in India – its top market as far as user base is concerned. Whatsapp, currently has no personnel in India, but if indeed it is going down the route of setting up base in India as a payments service provider as well, we could very well see a WhatsApp office opening in […]
eWAY, Australia’s largest payments platform, partners with zipPay
zipMoney Limited is pleased to announce an Australia-first strategic partnership with eWAY, part of US giant Global Payments. eWAY is Australia’s largest online payment gateway and processes more than 25 percent of all eRetail payments. The partnership will see the roll out of the zipPay and zipMoney ‘buy now, pay later’ digital wallets as core offerings for tens of thousands of online retailers in Australia and millions of Australian shoppers. “The two leading names in the Australian online payments and digital wallet space are joining forces to help merchants sell more and sell better,” said Mark Healy COO at eWAY. “eWAY helped pioneer online payments in Australia and remains at […]
Hong Kong news stands to accept cashless payments in bid to boost business
With their numbers dwindling, news vendors will now accept cashless payments from e-wallet firm TNG Wallet. Hong Kong’s half-century-old news stand industry has teamed up with a home-grown electronic wallet firm, hoping to rescue their dwindling business by tapping into the fast growing digital world. From Wednesday, people will be able to buy newspapers and magazines by simply scanning a QR code through TNG Wallet’s mobile application at about 30 stalls in Central and the Western district. The service will be further expanded to 100 operators across 18 districts by the end of April. The move is a step forward for the city’s 400 cash-only news stands, who are struggling […]
Apple Pay to be launched in Taiwan Wednesday
Apple Pay, a mobile payment and digital wallet service provided by Apple Inc., will become available in Taiwan from Wednesday, local banks that are part of the initial launch of the service confirmed Tuesday. After Apply Pay becomes available, consumers in Taiwan will be able to use their iPhones and Apple Watches to make payments when they make purchases at physical stores, on apps and on websites, according to information on the website of the U.S. consumer electronics giant. It said shoppers will simply need to place a finger on the Touch ID sensor and hold the iPhone within an inch of the contactless reader to make a purchase. When […]
The impact of Blockchain on Trade Finance and Cybersecurity
Companies in today’s ‘digital first’ ecosystem are being forced to continuously innovate in order to stay at the forefront and remain competitive in their industry, particularly in the financial services and financial technology space. Blockchain technology is already starting to reinvent the infrastructure for global finance; anything that facilitates the frictionless flow of money. Yet blockchain is frequently associated with fraudulent ponzi schemes and trading scams. Blockchain technology sits on a consensus-driven distributed ledger that facilitates and keeps a record of all historic transactions, without the need of a third party – a concept which could revolutionise global trade, and challenge the existence and purpose of intermediaries such as commercial […]
Samsung Pay joins India’s digital-payments movement
As India’s cash issues continue to create incentives for new mobile payment systems, it’s no surprise that Samsung has jumped into the fray with its its Samsung Pay digital wallet. The Apple Pay competitor’s implementation includes support for PayTM and the Unified Payments interface. It has a ton of network financial services partners, though Citibank India is still forthcoming. Samsung Pay will arrive on the Samsung Gear S3 smartwatch shortly, the company added. It currently works on Samsung’s high-end smartphones, though it’s rumored to be coming to the J series in India. Source: Samsung Pay joins India’s digital-payments movement – CNET
