Startups in Asia can soon get free payment processing from PayPal and Braintree

Every cent counts for startups. Which makes the PayPal Startup Blueprint  welcome news for entrepreneurs. The payment giant announced this week that it will extend the program, which gives startups free payment processing, to eight markets in Asia-Pacific. The program waives processing fees for transactions up to the US$1.5 million mark for PayPal and US$100,000 for Braintree. The latter is only available in Australia for now, but will be available for the rest of Asia soon, according to the press release.

http://www.techinasia.com/startups-asia-free-payment-processing-paypal-braintree/

China’s WeChat introduces in-store payments for Dairy Queen and 8 other chains

Tencent has introduced in-store mobile payments in WeChat, its popular mobile messaging app, for nine retail chains across China. As Pingwest  reports, Chinese WeChat users will spot a new “Small Payments” (shuaka, or “swipe card” in Chinese) feature inside the “Wallet” section of the app. Pressing the icon and entering one’s password for WeChat Payments will subsequently generate a QR Code or a barcode that retailers can scan to accept payments for in-store purchases.

http://www.techinasia.com/chinas-wechat-introduces-instore-payments-dairy-queen-8-chains/

New Tencent deal with China’s biggest oil company means you could soon pay for a tank of gas with WeChat

China’s biggest internet company Tencent has signed a deal to buy a stake in Sinopec’s sales and marketing arm, according to MarketWatch . This gives Tencent access to the oil giant’s retail operations across China. The maker of WeChat is one of several investors involved in the deal with China’s biggest oil company. The deal is worth RMB 107.1 billion (US$17.44 billion) from 25 new investors, which also include insurance giant PICC, and asset management firm Munsun. Each company can own up to a 2.8 percent stake.

http://www.techinasia.com/tencent-deal-chinas-biggest-oil-company-means-pay-tank-gas-wechat/

Apple a decade behind Japan mobile payment curve

TOKYO: Apple’s proud announcement that its new iPhone could be used to buy goods in a single swipe left customers non-plussed in Japan, where mobile contactless payments have been normal fare for a decade.  A type of Near Field Communication (NFC) chip, known in Japan as FeliCa, was introduced to the Japanese mobile market in June 2004 and has been been implanted in almost all phones sold in the country since.

http://economictimes.indiatimes.com/tech/hardware/apple-a-decade-behind-japan-mobile-payment-curve/articleshow/42426439.cms

Alibaba and Tencent are beating Apple Pay to the punch in China

Apple announced it will introduce Apple Pay, an NFC-enabled mobile payment service for brick-and-mortar sales, in its upcoming iPhone 6 devices. Apple followers predicted its arrival in the days leading up to Apple’s keynote, but its unveiling yesterday came years after folks first expected the Cupertino-based firm to start eyeing in-store payments. As far back as 2011, Bloomberg published a piece  that cited analysts stating the company was working on NFC payment prototypes for small businesses.

http://www.techinasia.com/alibaba-and-tencent-are-beating-apple-pay-to-the-punch-in-china-alipay-wechat-payments/

Alipay, Huawei Team For Fingerprint Payment Development

Alipay and Huawei announced that the two parties have worked together in the launch of standard solutions for fingerprint payment in China. In this partnership, Alipay is responsible for creating more convenient payment experience to users, while Huawei provides devices and payment technologies.The new fingerprint payment function was officially available on September 4, 2014.

http://www.chinatechnews.com/2014/09/10/20905-alipay-huawei-team-for-fingerprint-payment-development

KakaoTalk goes into the mobile payment business with KakaoPay

KakaoTalk today launches a mobile payment service called KakaoPay. As the name suggests, it allows users of the messaging app to pay using their KakaoTalk account for certain products they buy online. The team expects KakaoPay to support debit and credit cards from most major South Korean financial institutions. Users can register and use up to 20 different non-corporate debit and credit cards inside the KakaoPay account.

http://www.techinasia.com/kakaotalk-kakaopay-mobile-epayments-korea/

12 Philippine companies that should really start accepting Bitcoin

It’s big news when a major corporation or non-profit, such as Wikipedia, starts accepting Bitcoin .  A number of people want to have more places to spend their bitcoins. So Tech in Asia spoke with entrepreneurs in the Philippine Bitcoin space on what companies they would like to see accept the cryptocurrency. There were no restrictions placed on the people we surveyed – they could name an international company  with a strong Philippine presence, or a local brand.

http://www.techinasia.com/philippines-companies-accept-bitcoin/

Why Flipkart is shutting down its electronic wallet PayZippy

India’s ecommerce poster-boy Flipkart is shutting down its electronic wallet PayZippy, just over a year after it launched. “While we phase out our own payments product, PayZippy, nothing changes for our customers, who will continue to enjoy all the benefits of a safe and secure payment system through Flipkart,” a Flipkart spokesperson told Tech in Asia. The news was first reported by Medianama . With PayZippy, ecommerce merchants can accept payments from all credit and debit cards as well as use 53 net banking options.

http://www.techinasia.com/flipkart-shutting-electronic-wallet-payzippy/

Digerati50: Turning chance into a thriving business

KUALA LUMPUR, Sept 1 ― Just about anyone who has made an online transaction in Malaysia would have, whether they knew it or not, engaged with payment gateway provider iPay88. The brainchild of entrepreneur Lim Kok Hing, iPay88 has a simple mission: To enable more businesses to be more innovative and efficient with their payment collections, by eliminating the manual work of payment collections, and thereby boosting local merchants’ operational efficiencies.   But how did Kok Hing, or K.H. as he’s better known, get into this game in the first place?

http://www.themalaymailonline.com/tech-gadgets/article/digerati50-turning-chance-into-a-thriving-business

This Japanese politician is crowdfunding a personal trip to the US to study Bitcoin

Mineyuki Fukuda, a member of Japan’s House of Representatives, has taken a novel approach to fund an overseas Bitcoin research tour. The Liberal Democratic Party (LDP) lawmaker and head of the central government’s IT Strategy Committee has launched a crowdfunding campaign  that will send him to the US as a private citizen – without using taxpayer funds – to author a report on American Bitcoin businesses.

http://www.techinasia.com/japanese-politician-mineyuki-fukuda-crowdfunding-us-bitcoin-research/

South Korea’s top Bitcoin exchange secures $3M investment to build an entire bitcoin ecosystem

Korbit , Korea’s leading Bitcoin exchange, wallet and merchant processor, has just closed a US$3 million series A funding round led by SoftBank Ventures Korea. Pantera Capital led the round from the US, with participation from BAM Ventures and previous investors Bitcoin Opportunity Corp, Tim Draper, Pietro Dova and initial investor Strong Ventures.

http://www.techinasia.com/south-koreas-top-bitcoin-exchange-secures-3m-investment-build-entire-bitcoin-ecosystem/

More payment startups in Southeast Asia: Thailand’s Omise gets $300k from East Ventures

Online payments in Southeast Asia is broken, and that’s because many people in the region do not own credit cards or bank accounts. There is no shortage of startups attempting to fix this. Throw Omise  into the mix: the Thailand-based startup announced today that it has raised US$300,000 from Indonesia and Japan-based fund East Ventures (disclosure: East Ventures also invests in Tech in Asia. See our ethics page for more information).

http://www.techinasia.com/payment-startups-southeast-asia-thailands-omise-300k-east-ventures/

Japan’s Rakuten Bank now allowing money transfers via Facebook

A new feature from Rakuten Bank, unsurprisingly called “Transfer by Facebook,” is being touted by the bank as the first of its kind in the country and is brilliantly simple to use.  Launch the Rakuten Bank app, pick the Facebook friend and then enter in the amount to be transferred. There’s no need to know the other person’s banking details.  It even works if the friend in question has an account at another bank, although it’s not quite so seamless.

http://www.thestar.com.my/Tech/Tech-News/2014/08/08/Japans-Rakuten-Bank-now-allowing-money-transfers-via-Facebook/

Hong Kong and Thailand introduce a new cross-border PvP link

The Hong Kong Monetary Authority (HKMA) and Bank of Thailand (BOT) have jointly launched a new cross-border payment-versus-payment (PvP) link between Hong Kong’s US dollar real time gross settlement (RTGS) system and Thailand’s Thai Baht RTGS system (BAHTNET). This link is the third cross-border PvP link in Asia for HKMA’s RTGS system, said Peter Pang, deputy chief executive of the HKMA. The other two existing links are with Malaysia and Indonesia, he added.

http://mis-asia.com/tech/industries/hong-kong-and-thailand-introduce-a-new-cross-border-pvp-link/

Android apps connected to Japan’s Metaps have been downloaded 1 billion times – find out what the firm is working on now

Katsuaki Sato, founder and CEO of app monetization startup Metaps, sees no need to hide his company’s global amibitions. Where many young entrepreneurs are content to steadily grow in Japan and then carefully consider international markets, Sato has fought to create an international service since 2010, the firm’s third year of existence. His aggressive expansion has been a success. The priority of the Japanese market has given way to the United States and China’s where Metaps’ have helped local apps monetize.

http://www.techinasia.com/metaps-katsuaki-sato-app-monetization-billion-downloads/

WeChat users in China can now transfer money to each other

The money transfer option in WeChat is a relatively small step in WeChat’s long march to turn itself from being China’s ubiquitous messaging app into a useful mobile wallet service. It already encompasses online payments, ecommerce, an online personal finance fund, and online taxi ordering. This evolution first started last summer with the introduction of WeChat Payments for the app’s Chinese users.

http://www.techinasia.com/wechat-allows-money-transfers-between-friends/

Weibo’s mobile wallet will soon allow friends to send money to each other

More than six months after China’s Twitter-esque Sina Weibo (NASDAQ:WB) launched a mobile wallet feature, the social network is about to roll out user-to-user money transfers. A private beta of the money transfers is now in testing, as seen by Techweb, in the Weibo mobile app. It will go live to the public in an app update next week. Both the sender and recipient must be Weibo users.

http://www.techinasia.com/sina-weibo-mobile-wallet-adds-money-transfers/

Southeast Asia’s Paypal gets another round of funding from GMO Global Payment Fund

2C2P, a Bangkok-based online payment processing company, has secured an undisclosed amount of funding from GMO Global Payment Fund, a sister company of GMO Payment Gateway, which also invested US$500,000 into the startup late last year. This investment aligns with the GMO Payment Gateway’s latest move to partner 2C2P as it expands into Thailand. Ryu Muramatsu, director and founding partner of GMO Venture Partners, explained the reasoning behind the latest round to Tech in Asia:

http://www.techinasia.com/southeast-asias-version-paypal-funding-gmo-global-payment-fund/

GMO Payment Gateway partners with 2C2P to launch in Thailand

Today, GMO Internet Group‘s online payment service provider, GMO Payment Gateway Inc. (TSE1:3769), has announced the Thai launch of its global payment processing service, GMO-PG Global Payment, in partnership with regional epayment gateway, 2C2P. This marks the fifth overseas entity for the Japan-based company after Singapore, Hong Kong, Malaysia and Taiwan.

http://www.techinasia.com/gmo-pg-launches-thailand-partnership-2c2p/