Tag

Payment Gateway

Malaysia’s Wallet Wars Rages On: WeChat Pay Secures First Banking Partner

Following Tencent’s recent success in securing E-Money license from Bank Negara Malaysia, the company’s payments arm WeChat Pay has received the green light from Bank Negara Malaysia to partner up with Hong Leong Bank. Similar to Alipay’s game plan, WeChat Pay will also be initially focused on Chinese tourists visiting Malaysia to gain traction and…

MOLPay, iPay88 to introduce Digi’s vcash e-wallet as payment option

DIGI Telecommunications Sdn Bhd (Digi) has inked agreements to appoint online payment networks MOLPay and iPay88 as partners for its mobile payment service vcash.   Under this agreement, vcash will be made available as a payment option for merchants under MOLPay and iPay88’s online payment gateway networks, enabling customers to transact using vcash with thousands…

China targets mobile payments oligopoly with clearing mandate

China’s central bank has ordered online payment groups to operate through a centralized clearing house, a move likely to undercut the dominance of Ant Financial and Tencent by forcing them to share valuable transaction data with competitors.   China is the world leader in mobile payments, with transaction volumes rising…

Tencent opens its credit rating system

Tencent has opened its credit scoring system to limited group users on QQ, WeChat’s older sibling.   This marks a big step forward for Tencent:  not only does this fill in a glaring gap in their product lineup, it also puts them in direct competition with Alibaba’s Sesame Credit.   According…

Tencent’s WeChat Pay plans to offer payment services in Malaysia

Tencent has applied for a license in Malaysia to offer local payment services via its WeChat Pay, reports Reuters.   If approved, users in Malaysia will be able to link their local bank accounts to WeChat Pay and pay for goods and services in ringgit.   WeChat Pay and Alibaba Group’s affiliate…

ACI, Planet Payment to streamline online payments

Planet Payment and ACI Worldwide has announced the launch of SecurePlus that enable the acceptance of Union Pay cards online. UnionPay is a bank card association, with over 6.5 billion cards issued worldwide, having over 38 billion transactions on cards in 2016. SecurePlus allows the acceptance of both credit and debit cards without a re-direct…

67% of Chinese citizens use mobile payments overseas

Kapronasia and CANCAN have released a new survey on the spending habits of Chinese nationals when traveling abroad.   As China’s economy continues to grow, more and more nationals are traveling abroad bringing with them their spending habits. In China, Alipay and WeChat Pay have become the payments methods of choice for a…

Android Pay to launch in Taiwan, Spain, Brazil, Russia and Canada

  Google has announced that Android Pay will be available in five new markets: Taiwan, Spain, Brazil, Russia and Canada.   So far, Google has officially confirmed that Android Pay is launching in Taiwan. Furthermore, the company unveiled plans to expand its mobile payment app to Canada, Spain, Brazil and…

Alipay to launch in the US

  Alipay, the mobile payment system offered by Alibaba, has announced is coming to the US, thanks to a deal brokered with First Data. The expansion follows limited trials in California and New York, and will bring Alipay into direct competition with Apple Pay, Android Pay, and PayPal. Alongside online…

Is Malaysia Ready to Go Cash-Free?

A Cash-Free Future Think about the last time you carried a wad of cash to go shopping –we’re willing to bet that it’s been a while. Nowadays, all you need is to pack plastic; a debit or credit card and only a bit of spare cash, just in case. Even…