Digi Times — IDC predicts worldwide mobile payments will account for US$1 trillion in value in 2017, up 124% from the less than US$500 billion expected in 2015. Asia Pacific markets will contribute to this growth greatly as mobile commerce transactions with remote payments take off across the region. Driven by a high number of initiatives and diverse mobile commerce maturity level, Asia Pacific is expected to lead the world in mobile payment developments.
Business Korea — Korean mobile carriers are launching NFC-based mobile credit card services in China. The target customers are expected to expand from Korean tourists in China to the Chinese in general in the long term. KT announced on Aug. 6 that it released the Union Pay Mobile QuickPass Card with BC Card. The QuickPass is an NFC and touch-based payment service developed by Union Pay International.
MIS Asia — CurrentC, the mobile payments solution backed by big retailers such as Target, Walmart, and Best Buy, might not launch this year after all, and some member stores are now throwing their support behind Apple Pay. Retail consortium MCX, which runs CurrentC, will still kick off a pilot program in a few weeks in Columbus, Ohio. But MCX CEO Brian Mooney told Recode that the group isn’t rushing a wider rollout, despite earlier plans for a mid-2015 public launch.
PRNewswire Asia — SINGAPORE: Running from 2nd-3rd September 2015 at the SMX Convention Center in Manila and bringing together 1000+ attendees, 60 expert speakers and 40 international & local exhibitors, Cards & Payments Philippines and the E-Commerce Show Philippines will be the premier meeting places for the entire payments and e-commerce ecosystems from across the country.
Digital News Asia — SINGAPORE Telecommunications Ltd (Singtel) said that members of the public can now donate to Community Chest, direct from their mobile phones with Dash, its mobile wallet app. “Singtel is a long-standing partner of Community Chest. We are proud to strengthen our partnership with Community Chest with Dash as one of its donation channels,” said Gan Siok Hoon, vice president of m-commerce, Consumer Singapore, Singtel.
Silicon Angle — BTC China Chief Executive Officer Bobby Lee and OKCoin, Inc. Head of International Jack Jiu took to the stage at the Rise Conference in Hong Kong Friday to discuss where Bitcoin was and what’s ahead for the popular cryptocurrency. “Bitcoin can mean different things to different people,” Lee explained to the crowd at the conference which has attracted thousands from across Asia, but, unfortunately didn’t cater to the volume of people well.
Tech in Asia — The recent events of PayPal and eBay splitting into two separate entities and the newly released version of Alibaba’s mobile payment app Alipay 9.0 inspired me to take a closer look at these two unequal rivals. However, comparing Alipay with PayPal directly doesn’t seem to do the former much justice. As with many of the leading Chinese digital players, Alipay is an integral part and closely connected within Alibaba’s ecosystem.
Times of India — TOKYO: Mark Karpeles, the former head of defunct bitcoin exchange Mt Gox, was arrested in connection with the disappearance of hundreds of millions of dollars worth of the virtual currency, Japanese media reports said. The French-born Karpeles, 30, is suspected of falsifying data on the outstanding balance of the exchange, at one point the world’s largest hub for trading the digital currency, they added.
LONDON: Tata Consultancy Services (TCS), India’s largest IT services firm, has been recognised as a global leader in card management and transaction processing by a leading research company. TCS was recognised as a global leader by Celent, a research and consulting firm focused on the application of information technology in the global financial services industry.
Market Wire — SHANGHAI, CHINA and BOSTON, MA — peerTransfer, the leading provider of global payment solutions for the education industry, announced today that it has submitted an application in China to open operations in China. The firm will be based in Shanghai and operate as PingFuFei Commercial Consultancy Limited Company.
IT News — PayPal will buy digital money transfer provider Xoom for US$890 million (A$1.2 billion) as it muscles into a growing international remittance market and expands in countries like Mexico, India and China ahead of a spinoff from eBay. The offer price of US$25 per share in cash represents a premium of about 21 percent to Xoom’s closing price of US$20.70.
Optus has admitted to handing over its customer’s phone numbers to certain third-party websites accessed by the user. As first flagged by a user on telco forum Whirlpool, when a user browses certain websites, Optus provides the customer’s mobile phone number to the website operator where a “commercial relationship” exists. The practice, known as HTTP header enrichment, includes a mobile browser’s phone number in the HTTP header of the website request. The process aims to streamline direct billing for customers.
TNS, a leading global provider of data communications and interoperability solutions, is providing a Pan-Asian telecommunications network for Global Payments, a leading worldwide provider of payment technology services. The best-in-class network, which utilises TNS’ Dial and TNSConnecttechnologies, delivers a single, seamless solution which harmonises the payments infrastructure across the diverse range of countries and telecommunications environments. The high speed TNS solution offers flexible routing and a range of connectivity options to help simplify operations which carry multiple types of transaction traffic.
SINGAPORE telco M1 Ltd, in collaboration with CIMB, MasterCard and Wirecard, has launched a mobile point of sale (mPOS) solution, which it said transforms smartphones and tablets into terminals that allow merchants to accept credit, debit and prepaid card payments from customers anytime, anywhere. The M1 mPOS solution is designed to meet the needs of traditionally cash-based small businesses, startups, and ‘on-the-go’ enterprises such as push-cart vendors and small cafés, to allow them to offer their customers the convenience of card payment, M1 said in a statement.
According to Korea Information Society Development Institute (KISDI) on June 21, the domestic mobile payment market has shown a steady increasing trend, already exceeding 3 trillion won (US$2.71 billion) in the first half of last year. Domestic payments have steadily increased every quarter from 1.127 trillion won (US$1.02 billion) in the first quarter of 2013 to 2.355 trillion won (US$2.13 billion) in the fourth quarter of the same year. Also, it posted 3.193 trillion won (US$2.88 billion) in the second quarter of last year.
Electronic bill payments may soon become the main form of payment in Myanmar, with the help of easyBills. Developed by 2C2P and the Myanmar Payment Union (MPU), easyBills aims to eliminate the traditional cash-based, over-the-counter method of payment. MPU is the national payment network of the Republic of the Union of Myanmar that authorises the issuance and acceptance of all payment cards within the country. There are almost a million MPU cards in Myanmar, and the number is set to grow rapidly, according to MPU.
South Korean electronics maker Samsung announced that the company will soon launch its mobile payment service Samsung Pay and will expand this service into Chinese and European markets. Injong Rhee, Samsung’s executive vice president, told investors during a company activity in Seoul that they plan to launch mobile payment services in South Korea and America in September 2015, which will be the same time of launching its next-generation flagship smartphone.
Search engine Google is reportedly in talks with Chinese phone makers on introducing its Play app store to the country, where the mobile market has recorded explosive growth, according to Shanghai’s China Business News. Sources told the newspaper that three of China’s six major handset makers–ZTE, Huawei, Coolpad, Lenovo, Vivo and Oppo–received offers from Google, which would pay US$1 for each phone that is pre-installed with a version of Google Play. “For Chinese handset makers that post thin margins, a subsidy of 6 yuan (US$1) is a lot,” said Wang Yanhui, director of Mobile China Alliance.
NEW DELHI: E-commerce major Snapdeal will allow its users across 200 cities to pay through their credit and debit cards when they opt for pay-on-delivery option. “The solution has been developed in partnership with GoJavas. Now customers can select the pay by card on delivery option, just like they would for COD. We are rolling this out in 120 cities,” Snapdeal vice-president operations Ashish Chitravanshi told PTI.
Shop owners in every township of Myanmar’s three largest cities have set up Red Dot terminals – machines that act as payment gateways allowing customers to top up mobile phones without scratch cards. Based in downtown Yangon, Red Dot offers technology and services that can streamline top-up sales and management for vendors, which is currently a clunky and involved process, according to Mr Whelan.