Category

Payment Gateway

WhatsApp UPI payments option spotted in beta

WhatsApp will soon facilitate instant money transfer via the Unified Payments Interface (UPI) transaction system, shows a new beta update by the mobile messaging platform.   According to a blog website WABetaInfo, WhatsApp was finally giving shape to its plans towards bank-to-bank transfer using the UPI system.   In the new version ‘2.17.295’ through the…

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…

Visa goes into mobile payments via QR Codes

Visa has launched a new payment system, called mVisa, which enables mobile payments between merchants and customers.   The system is based primarily on QR codes, but it also works with numerical codes for future phones. When making a purchase with mVisa, a consumer uses a smartphone to scan a QR…

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…

Starling Bank introduces Apple Pay

The UK-based mobile-only Starling Bank has announced the integration of Apple Pay for its customers.   The bank thus becomes the first bank in the UK to offer ‘in-app provisioning’, meaning that new customers will be able to load their card into their digital wallet with a single tap.   When using a credit…

SatoshiPay switches from Bitcoin blockchain to IOTA

SatoshiPay has teamed up with the IOTA Foundation, a non-profit that oversees network development, to explore replacing Bitcoin with IOTA as its settlement network.   Both parties have agreed to work on a proof-of-concept project, to be supported by the IOTA Ecosystem Fund, which would combine SatoshiPay’s content payment interface with IOTA’s…

Samsung, PayPal to consolidate mobile and online payments

Samsung has announced a partnership with PayPal to allow Samsung Pay users to make in-app, online and in-store payments with the US payment platform.   The service will be available in the US first and will be expanded to other countries in the near future.   Moreover, Samsung Pay will be accepted as…

PayPal introduces cross-border trade service

PayPal has announced the introduction of PayPal Global Sellers, a cross-border trade service for small and mid-sized businesses (SMBs) in the US. In collaboration with Webinterpret, the service addresses the commonly cited international growth barriers with a suite of tools, including: website translation, taxes/duties presentment, international shipping and return facilitation, or localized…

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…