The PBOC has approved PayPal’s acquisition of a majority stake in domestic payments firm Gopay, giving it access to various domestic payments licences.
October 1, 2019The entrance of FinTech and BigTech firms into banking is forcing incumbents to adapt, but it should not come at a cost to compliance obligations, writes Claus Christensen at Know Your Customer Ltd.
July 16, 2019The PBOC is organising market-oriented institutions to jointly research and develop a central bank digital currency, in a programme that has already been approved by the State Council.
July 11, 2019The affiliate, 50 percent owned by Amex subsidiaries, will be able to operate a credit card payment network that will allow Amex-branded cards to be used in China.
November 12, 2018UnionPay launches mobile payments in Hong Kong and Macau, among other tie-ups in Singapore, France and the UK.
September 17, 2018Apple shares concerns over data localisation with Mastercard, Visa, Amazon, WhatsApp and PayPal, but Google will be ready to comply by December.
September 11, 2018New proposal would allow international payments firms to store data offshore while only maintaining a copy in India, following lobbying effort by MasterCard, Visa and American Express.
July 16, 2018Amex application to operate in China through a joint venture with domestic mobile-payment provider Lianlian has reportedly been accepted by PBOC.
April 30, 2018Blurring the regulatory distinction between banking and financial technology creates both opportunity and pitfalls.
April 23, 2018