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  • Navigating Regulatory Change in Asia Pacific
    Navigating Regulatory Change in Asia Pacific Regulation has always been the bugbear of the financial sector. On the one hand, it is a necessary part of stable industry growth. On the other, regulatory requirements are one of the biggest challenges for banks today; the global banking industry spends an estimated US$270 billion a year on compliance-related…
  • The Future of Financial Markets in Asia Pacific
    The Future of Financial Markets in Asia Pacific Challenges for the financial industry are growing. Third party non-bank financials threaten the core businesses of traditional banks and institutions. Trade tensions are escalating between the US and China, and even the US and Canada, and threaten to take the global economy on a different path, which may ultimately have…
  • The Platform for Innovation
    The Platform for Innovation Since the launch of real-time payments in Japan in 1973, the financial industry has been on a path of rapid modernization as governments and financial sectors around the world move to instant payment systems. In many ways, real-time payments are a natural evolution of the industry, providing better, faster and…

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Latest Insight

China’s Banking Regulation Commission (CBRC) has played with fire long enough, standing on the side and watching the story of online peer-to-peer lending unfold, as it started with a tremendous rise from 2013 to 2014 and to quickly turn into a machine of fraud and risk, potentially damaging countless individuals who were naïve enough to trust this system.

2016 should be the year when finally Apple Pay manages to launch in China, as announced by the Cupertino-based company on its own website and as was already reported by the Wall Street Journal earlier this past autumn. This wasn't really a surprise as Apple had long talked about its China plans for Apple Pay. Less expected, Samsung Pay is also going through the same process and should also launch in 2016.

On the 28th of December, China promulgated the next set of mobile payment regulations. Although some of the regulation was expected, how will the rest impact the mobile payment industry development in 2016?

The 12th of December marked the official announcement by China UnionPay (CUP) of the launch of Cloud QuickPass, a mobile payment solutionbased on NFC (Near Field Communication) technology. Tests had been ongoing since May at franchises like McDonald’s, with the backing of the Industrial and Commercial Bank of China (ICBC) and builds on the existing QuickPass NFC technology deployed in many of the current CUP point-of-sale terminals around China. 

China’s digital travel landscape is a world in its own. Increasingly, globe-trotting Chinese are turning away from prepaid package tours and becoming more mobile savvy in applications from hotel booking to local entertainment. It is estimated recently by Dianping, a restaurant review and coupon website that Chinese outbound tourists are forecast to spend 250 billion yuan (US$39 billion) on food in 2015, 25% more than in 2014.

Alipay has made it to Macau. Hello gaming industry!

Written by Qinwen Wang || December 03 2015

Early last month, in a statement released from the Monetary Authority of Macau, Alipay was approved for use in Macau's gaming market a fact confirmed by the industry that now macau residents and/or institutions can have an Alipay account and use it for payments.

Apple. Pay. Finally. Makes. It. To. China....well maybe...

Written by Kapronasia || November 24 2015

After nearly a year and a half from its US release date and after long preparations and cancelled announcements it finally looks like Apple will be releasing its mobile payment system, Apple Pay, in China somewhere in Q1 of 2016, possibly before Chinese New Year rolls around.

As China's economy slows and people push to move their money abroad for better returns, the government is now trying its best to keep money at home. The PBOC has estimated that outflows of the China’s foreign reserve attributed to illegal underground banks amounted to about 800 billion yuan ($125 billion) from April to October this year. Chinese police launched a series of crackdown on underground banking and illegal foreign-exchange network to continue the anti-corruption campaign. But will it matter? Can they actually stem the flow of money out?

In a world where everything seems to be made in China there are still markets where China is no where to be found, but Western companies still dominate. One of those is the cashless payments market, with giant companies such as Visa, MasterCard and American Express owning the market for bank cards and payment networks.

On November 18th, Baidu announced that it was finalising its private bank plans and would be setting up a banking venture with China Citic bank called Baixin. This was the last of the 3 BAT (Baidu, Alibaba, Tencent) to setup a private bank and was widely expected, although potentially a bit later than originally thought.

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