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US tech provider Stripe eyes growth in Asia’s fragmented digital payments market

Asia’s fragmented digital payments market might seem a daunting challenge for online companies to expand globally, but US firm Stripe considers that a huge opportunity to grow its business in the region.“Asia is leading the way in payments, innovation – you’ve got this perfect storm of large and relatively developed markets, with enormous waves of new customers coming online and creative payment methods,” said William Gaybrick, chief financial officer at Stripe, a San Francisco-based payments… Source link

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Gaming company Razer to expand payments network to 54 million merchants via tie-up with Visa

Gaming hardware company Razer is expanding its payments network through a partnership with Visa, which will allow Razer’s e-wallet users to pay at 54 million Visa merchants globally.Without the need for a bank account or a credit card, up to 60 million users of Razer’s online payments service, Razer Pay, will be able to use the newly-developed virtual prepaid solution by Visa in their e-wallet to make payments wherever Visa is accepted, according to an announcement by Razer’s fintech arm and… Source link

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China’s oldest brokerage Shenwan Hongyuan accuses cornerstone investor of defaulting on share payments in Hong Kong’s biggest IPO of 2019

China’s oldest securities firm Shenwan Hongyuan has named and shamed one of its cornerstone investor for failing to pay for stock subscriptions made during its recent initial public offering (IPO) in Hong Kong.The brokerage said China Saite, a construction services firm, had defaulted on payments for almost 65 million shares during its US$1.16 billion IPO, the biggest in Hong Kong so far this year. It said it was considering legal action against the company.China Saite agreed to buy 64,193,600… Source link

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Vietnam 

Non-cash payments here to stay, says deputy PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — Cashless payment is an irreversible trend during the time of the fourth industrial revolution, Deputy Prime Minister Vương Đình Huệ told a conference in HCM City yesterday. Speaking at Cashless Society: Policy and Reality, he said “cashless payment also helps improve transparency and combat corruption, money laundering and economic crimes”. In recent years the Government has paid much attention to promoting cashless payments and electronic payments to support its e-Government agenda and providing online public services at levels 3 and 4, he said. The third level allows…

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Ecommerce 

Alipay and six European digital wallets join hands to increase adoption of mobile payments with QR code

Six mobile wallets in Europe together with Alipay will collaborate and adopt a unified Quick Response (QR) code for mobile payments, allowing users of each wallet to pay for their purchases across 10 countries in Europe.The six European mobile wallets include Austria’s Bluecode, Finland’s ePassi and Pivo, Oslo-based Vipps, Spain’s Momo as well as Portugal’s Pagaqui. The wallets are working with the Chinese payments provider towards rolling out a QR code format provided by Alipay, so that users… Source link

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Vietnam 

Mobile money service to promote non-cash payments – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Mobile money service will help transform telecom networks by creating a foundation for data, computing, digital content, and internet of things (IoT). — Photo vietnamplus.vn HÀ NỘI — Mobile money services promote non-cash payments and help the poor living in mountainous and remote areas access services on the internet, Minister of Information and Communications Nguyễn Mạnh Hùng said at a two-day conference on financial inclusion held in Hà Nội on Thursday. The service allows users to transfer and receive money as well as make payments through mobile accounts for services such as health, education, finance, jobs and…

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Singapore 

Singapore top in Asia for digital life for expats, ranks low for cashless payments: Survey, Singapore, Digital News

SINGAPORE – Foreigners working here lead the most digitally connected lives in Asia and reap the most technological benefits when compared to those working in other parts of the region last year, a new survey has found. But the findings released on Wednesday (May 22) also showed that Singapore lags behind other countries in terms of its cashless payments systems, the ease of getting a local mobile number and unrestricted access to online services. The first Digital Life Abroad Report by expat community and information site InterNations involved a survey…

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Vietnam 

Khang Điền House to issue 130 million shares for dividend and bonus payments – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HÀ NỘI — Khang Điền House Trading and Investment JSC (HoSE: KDH) plans to issue 130 million bonus shares for dividend payments and employee stock ownership plan (ESOP) distribution. Five per cent of the 130 million shares, equal to 20.7 million shares, will be paid as dividends to shareholders. The issuance rate is 5 per cent. The remainder will be bonus shares issued at a rate of 25 per cent.  In addition, the company plans to issue 6.2 million ESOP shares for its employees at a rate of 1.5…

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Tencent posts better-than-expected US$3.9 billion first-quarter profit on back of payments, ads, digital content

Tencent Holdings, operator of China’s biggest video games and social media businesses, beat estimates to record a 17 per cent year-on-year increase in first-quarter net profit, primarily driven by commercial payment, social advertising and digital content services.Hong Kong-listed Tencent posted a net profit of 27.2 billion yuan (US$3.9 billion) in the quarter ended March 31, up from 23.3 billion yuan in the same period last year and ahead of the 19.4 billion yuan consensus from analysts… Source link

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China 

China’s new credit rating system will even monitor people’s utility bill payments

A new consumer credit rating system being developed by China’s central bank could go so far as to record whether people have paid their utility bills, according to a state media report.The People’s Bank of China has been building a database of individuals’ spending and payment records for some time, and an initial version of it is expected to be ready to go into service soon, Xinhua said on Saturday.As Beijing battles soaring corporate and personal debt levels, the aim of the project is to… Source link

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