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Mobile Payment

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…

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…

Xiaomi makes NFC mobile payment service Mi Pay available

Xiaomi has kicked off its footprint in the Chinese mobile payment industry with its NFC-based payments service Mi Pay. In many respects, the payment system works similarly to Samsung Pay, Android Pay, and Apple Pay. It uses NFC for wireless transmission of payment information via smartphones and aims to eliminate…