MasterCard - Regulation Asia

First Foreign Firm Approved to Enter China Payments Market

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, 2019

3.4K

AML / KYC

The Rise of Digital Banks in Asia Raises Compliance Questions

The 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, 2019

1.3K

China

China to Respond to Libra with Government Backed CBDC

The 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, 2019

527

China

Amex Affiliate Wins Approval to Enter China Bank Card Market

The 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, 2018

414

China

UnionPay Extends Reach into Hong Kong, Macau, Europe

UnionPay launches mobile payments in Hong Kong and Macau, among other tie-ups in Singapore, France and the UK.

September 17, 2018

605

Feature

Apple Shelves India Payments Expansion, Google to Move Ahead

Apple shares concerns over data localisation with Mastercard, Visa, Amazon, WhatsApp and PayPal, but Google will be ready to comply by December.

September 11, 2018

324

India

India Proposes to Relax Payments Data Onshoring Rules

New 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, 2018

577

China