|September 17, 2019 - Sep 19, 2019|
Fixed Income & FX Leaders Summit APAC 2019
|September 23, 2019 - Sep 26, 2019|
Sibos 2019 - London
|October 14, 2019 - Oct 15, 2019|
|October 27, 2019 - Oct 30, 2019|
Money 20/20 USA
|November 11, 2019 - Nov 15, 2019|
Singapore Fintech Festival
|December 04, 2019 - Dec 06, 2019|
Money 20/20 China Hangzhou
Kapronasia's 3rd Party Online Payment Industry webinar recording is now available in the webinar section of kapronasia.com. Thank you to everyone who attended. We hope you found it useful.
Please keep an eye out for Kapronasia's Q3 and Q4 webinars.
The Banking on China report is now available on the Kapronasia website in the research reports section. The report from Oracle and Kapronasia looks at the key challenges and opportunities for international banks in China and is based on numerous interviews with both larger and smaller banks in China. The complimentary report is available for download after you have logged into your Kapronasia.com user account. If you do not have an account, register today for free.
Kapronasia's latest report looking at the state of China's Prepaid Card Industry is now available on Kapronasia.com under the research report section.
Kapronasia will be hosting a webinar on August 8th, 2012 looking at China's Online Payments market.
The webinar is complimentary and will be looking at aspects of Kapronasia's soon to be released Online Payments Market in China report.
A recording of Kapronasia's Prepaid Cards in China webinar is now available for viewing on Kapronasia.com. To access the recording, click on the webinar link at the top of the website.
Recently, a WTO dispute panel, in response to the recent US complaint, said China is breaking the WTO rules by maintaining CUP as a monopoly supplier for the clearing of certain types of RMB-denominated payment card transactions. The specific areas where the panel determined that China had discriminated against foreign bank card suppliers are that 1) China requires all payment cards issued in China to work with the CUP network and to carry its logo, and 2) China forces all payment terminals to accept CUP network.
If you remember from our previous commentaries, in 2011, the People’s Bank of China (PBOC) mandated that any company providing payment products or services be licensed in order to operate. This brought a much needed dose of regulation to what was previously quite an unregulated industry. Since then, 4 rounds of payment licenses have been approved, the last being on June 28th, when another 95 payment companies qualified to provide payment products and services in China.
According to public information on the official website of Jumio, this fast-growing payment and online ID verification company based in California will be announcing additional deals with customers in Asia later this year. This is a signal for the firm’s ambition and interest in entering the Asian online payment markets, among which China is of significant importance.
According to PBOC (the People’s Bank of China), driven by the proliferation of online banking in China, in 2011 the total online payment transaction value reached 700 trillion RMB, with a 33% growth rate.
On June 16th, 2012, China Telecom, one of three mobile network operations in China, announced that its total mobile payment transaction value in 2012 researched 17 billion RMB, already exceeding the total amount of last year.
Recently Taiwan's Financial Supervisory Commission, the main financial regulator, said it had approved applications submitted by Bank of China and Bank of Communications to establish branches in Taipei. The banks will only be allowed to engage in limited business in the country, e.g. can only accept deposits higher than NT$3 million (US$100,350), only provide corporate loans. Further, the banks will need to receive approval from Taiwan's central bank if they wish to engage in f/x.
According to China’s Credit Card Report of 2011, the total number of credit card reached 290 million and the total value of consumption by credit card was 4.1 trillion RMB in 2011, accounting for 22.6% of China’s total retail sales of consumer goods. In recent years, credit card consumption has experienced rapid growth benefiting increased consumer consumption as well as improvements in convenience and security.
According to the National Bureau of Statistics, China’s total retail sales of consumer goods reached 18 trillion RMB and the number of online Shopping users reached 194 million. At the same time, in 2011, China’s Online Shopping Market reached 773.6 billion RMB, with a year-on-year growth of 55.3%. The transaction value of China’s Online Shopping Market contributed 4.3% to the total retail sales of consumer goods, continuing to grow in importance to the overall retail sales market.
According to the latest China’s Payment Report from People’s Bank of China, up to 2012 Q1, the total number of bank card in circulation grew 5.2% quarterly to 3.1 billion, reaching about 2 bank cards per person. Among them, the total number of credit cards reached 290 million, an increase of 1.8% from end of 2011Q4.