STOCKHOLM: European payment provider Klarna, which allows consumers to make online purchases using only their e-mail address and postcode with no pre-registration or credit cards, is exploring the possibility of setting up business in India. The Stockholm-based company is currently valued at around $1 billion and active in 16 countries.
Although mobile payments have been around for over half a decade, it wasn’t until the October launch of Apple Pay that U.S. consumers, banks and retailers rallied behind the technology. Samsung wants a piece of the action as well, and is reportedly working with U.S. startup LoopPay for a partnership as early as next year. The service will run on Samsung’s Galaxy smartphones and potentially on Android Wear, Google’s new smartwatch OS. This would void the contract Samsung apparently wrote up with PayPal, putting the Here payment service on the watch.
After an unnamed (and hopefully still employed) Line staffer messaged several publications December 4 about the release of Line Pay, the messaging giant had to scramble to put out the word that the app was not live. Almost two weeks later, Line Pay is here, and enduring a bumpy rollout. The payment function is meant to strengthen Line’s ecosystem. With Line Pay, users can send each other money wirelessly without divulging personal information like bank account details.
China Daily/Asia News Network– Shopping via mobile phones is fast becoming the main option for spending money in China, with transactions from the not-so-developed western region of the country being the driving force, a report said on Monday. The report, prepared by Alipay, the payment arm of e-commerce giant Alibaba Group Holding Ltd., said more than half of all online payment transactions were made with mobile phones so far this year.
The popular messaging app already hosts online auctions, connects users with celebrities and offers online gaming and now it’s adding mobile payments to its growing list of services. Line Pay, which was initially launched as a new service only for Japanese users in October, is about to go live, globally. Once a credit or debit card is linked to a user’s Line account, they will be able to use the app to make purchases at both supporting physical and online stores.
Currently, there are 17 epayment companies in Indonesia. Names like Veritrans, Coda, and 2c2p come to mind. Some people say competition is good for a tech startup scene. It forces the players in a given space to one-up each other to better serve a market. Folks like Peter Thiel may disagree, however, arguing “creative monopolies” are better. With this in mind, one question to answer is: Which school of thought can best be applied to Indonesia’s epayments space?
Global payments provider Swift has been signed under a 12 year contract to build and operate the infrastructure underlying the nation’s proposed central payments clearing utility. The ‘new payments platform’ (NPP) was borne out of a desire by the Reserve Bank of Australia to have all the nation’s financial institutions facilitating real-time payments by 2016.
Australia has a better prepared payment ecosystem for Apple Pay than the US, according to Infosys. Consulting and systems integration managing partner, Robert Liong, said all payments terminals in Australia are already accepting EMV chip and PIN-based cards.
China UnionPay has reportedly decided to launch a mobile payment service named “AndroidPay” for Android smartphones. According to reports in Chinese local media, several information sources confirmed the new service will reportedly be available in China in the third quarter of 2015. Several smartphone makers also confirmed the news. Cao Jingsheng, vice president of Coolpad Group, said that the company and China UnionPay have been discussing for over a month and both parties have strong willingness to cooperate, although there is no specific timeline yet. Cao said one of Coolpad’s high-end products will support this new service in 2015.
Chinese third-party Internet payment service provider Alipay.com announced that the company has established a new subsidiary in Sydney, Australia. Alipay will reportedly continue with a local joint venture with Paybang to meet the shopping demands of Australian and Chinese consumers. Alipay will also work together with Australia Post to promote Alipay shopping cards in 4,400 local retailing sites. With those cards, Australian consumers will be able to directly purchase products from Tmall.com and Taobao.com.
Apple today announced it had struck a deal with UnionPay, China’s most popular credit and debit card system, to accept payments for digital goods on its App Store. “The ability to buy apps and make purchases using UnionPay cards has been one of the most requested features from our customers in China,” Eddy Cue, Apple’s executive in charge of its Internet software and services division, said in a statement Monday.
Although far more people use Android phones, China’s iOS users already outspend their Android brethren when it comes to dollars being dropped in the App Store. And yesterday, Apple announced a change that could push the balance even further in its favor: it has has added UnionPay as a payment option for customers in China. UnionPay, for those who don’t know, is China’s only domestic bank card organization.
Optus customers using one of 23 compatible Android smartphones will soon be able to make payments on their device, after the telco partnered with Visa and Heritage Bank to debut a new payments app utilising near-field communications. Optus customers on a monthly mobile plan – and who use one of 23 specified Android devices from Samsung, LG, HTC and Sony – will now be able to request an NFC-enabled SIM card to make payments on Optus’ new Cash by Optus app.
The international shopping website Gilt announced that the company formally introduced Alipay as a new payment channel. This makes Gilt the latest overseas shopping website partner of Alipay following recent additions iHerb, My Bag, and Rakuten. Founded in 2007 and headquartered in the U.S., Gilt provides instant insider access to top designer labels. Its products cover apparel, jewelry, home supplies and travel products and its services have been expanded from America to over 100 countries and regions around the world.
Chinese Bitcoin exchange website BTCChina has reached a strategic deal with e-commerce providers, including online game service provider Shenzhoufu.com; Internet P2F financial management website Aicaike.com; and maternal and child product retail website Dandanchina.com. According to the agreements, BTCChina will provide Bitcoin payment services to those e-commerce enterprises, which expand payment channels for Internet users, help e-commerce enterprises attract more users, and improve their competitiveness.
India is racing on the ecommerce track. But there are many speed-breakers, and the biggest of them is payments. Complex regulations around credit card and mobile payments, clunky payment gateways, and language barriers are tying up many internet companies, including international players like Uber to homegrown superstars like Flipkart. Global leader in payments Visa Inc wants to do something about it.
Alibaba Group’s chairman Jack Ma and Apple’s chief executive officer Tim Cook jointly announced last week that Alibaba and Apple will work together on payment services. Apple Pay plans to enter the Chinese market via Alipay and become a payment method for Chinese Apple users. But more importantly, Apple will help Alipay to expand into the international market.
BEIJING: Chinese e-commerce firm Alibaba Group Holding Ltd said on Thursday it has changed the name of its Alipay financial services affiliate to Ant Financial Services Group as it steps up its push into the financial services industry. Alibaba has been aggressively offering new financial services around Alipay, including a money market fund for consumers, a mobile payment app and even a new private bank that was approved by the Chinese government in September.
‘Pay with Amazon’, the ecommerce giant’s attempt at making online and mobile payments far more convenient and secure, launched in India today, well before the much-anticipated Apple Pay. This payment tool from Amazon is for other ecommerce companies to integrate a smoother and more convenient payment system on their own sites. This means that third-party online retailers and merchants can outsource their financial transactions infrastructure to Amazon. Shoppers, in turn, can use the information stored in their Amazon account to make purchases on those other ecommerce sites.
Coda Payments announced new partnerships this morning with several Southeast Asian telcos. The mobile payment company’s fresh roster of partners includes Globe Telecom in the Philippines, Indosat and Esia in Indonesia, and SingTel and M1 in Singapore. This brings the total number of customers with access to Codapay to more than 100 million in Asia.