Payments
China payments news: Alipay, WeChat Pay, UnionPay, QR payments, cross-border payments and the digital yuan (移动支付).
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Deep dive: Hong Kong takes tokenised settlement live for deposits, gold and funds
At Hong Kong FinTech Week the HKMA moved EnsembleTX to round-the-clock settlement in tokenised central bank money, and banks used it for the first gold trades paid in tokenised deposits.…
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e-CNY hard wallets now pay fares across Shenzhen’s whole metro and bus network
Since November 3, riders in Shenzhen can tap an e-CNY hard wallet to pay at all 432 metro stations and on nearly 900 bus routes. Eight banks issue the wallets,…
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Hong Kong FPS to link with UnionPay International by year-end for QR payments at 100 million merchants
The HKMA says Hong Kong’s Faster Payment System will connect to UnionPay International by the end of 2026, letting FPS app users scan QR codes at over 100 million merchants.…
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Payment apps from six licensed firms named by Shanghai regulator over personal data and complaints
Seventeen apps and mini programs from six licensed payment institutions, including Allinpay, 99Bill, SandPay and Fuiou, were among 41 named by the Shanghai Communications Administration for infringing user rights.
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Tencent Visa agreement links Weixin Pay with Visa Pay for travellers in and out of China
Tencent and Visa signed a memorandum of understanding on October 29 covering payments for travellers through TenPay Global and Visa Pay, Visa Direct remittances into Weixin Pay, and AI agent…
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Ant International signs SMBC deal on Alipay+, Antom and WorldFirst flows in Southeast Asia
Ant International and SMBC signed a memorandum of understanding on cross-border payments tied to Japan, Singapore and Southeast Asia, and will explore linking the Whale RTP treasury platform with the…
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Deep dive: e-CNY 2.0 moves into taxes, pensions and trade settlement
Ten months after the PBOC turned the e-CNY into interest-bearing deposit money, the first tax, pension and trade payments in it are arriving. The average transaction is getting larger as…
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Samsung Wallet Money joins WeChat Pay network for Korean visitors to China
Korean users of Samsung Wallet Money can now scan or show QR codes at WeChat Pay merchants across China, under a deal signed in Shenzhen by Tencent, Samsung and Woori…
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Doubao phone assistant stops operating bank and payment apps as lenders limit AI agents
ByteDance’s Doubao phone assistant has stopped operating banking, payment and lending apps after banks, Alipay and WeChat opted out, and Chinese lenders say money movement stays with humans.
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Tenpay lets users of 60 overseas e-wallets pay at WeChat Pay merchants in China
Tenpay, which runs WeChat Pay, said users of 60 overseas e-wallets can now pay at its merchants in mainland China, and set out how its TenPayGo app serves inbound visitors.
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