Tech in Asia — India’s biggest ecommerce company, Flipkart, finally launched its own digital wallet PhonePe this week. The wallet officially started working on subsidiary Myntra today. Flipkart tied up with India’s Yes Bank to launch what it is calling “India’s first unified payments interface-based mobile payments app.”
China Tech News — China’s Xiaomi cooperated with China UnionPay in launching its payment service MI Pay. With this move, Xiaomi becomes yet another smartphone maker that chas ooperated with China UnionPay in launching mobile payment services, following Apple and Samsung. Prior to this, China’s Huawei also launched its payment service, but Huawei’s partner is Bank of China.
Link to http://www.chinatechnews.com/2016/09/05/24157-xiaomis-online-payment-service-opens-in-china
FT — Banks in Singapore are collaborating on a new service that would allow customers to make payments using Facebook IDs or Twitter username. The system will allow electronic transfers between account holders who have registered their social media identities with their banks, allowing users to make payments by selecting the payee’s Facebook ID instead of typing in an account number and sort code.
9TO5 Google — Android Pay has been very slowly making its way around the world and today the service has finally arrived in Asia — or at least for those in Singapore. Users in Singapore are able to download and activate Android Pay on their devices right now as long as their bank is compatible with the service.
Forbes — After launching in both the United States and the United Kingdom, Android Pay, Google’s contactless smartphone payment solution is finally making landfall in Asia. Singapore will be the first Asian market to gain access to Android Pay with Singaporeans able to load and MasterCard credit and debit cards from six banks including DBS and Standard Chartered onto their Android smartphones.
Mobile World Live — Chinese internet giant Tencent is partnering with Japanese social data provider Hotto Link to roll out its WeChat Pay service to 10,000 stores in Japan by the end of the year. According to Nikkei Asia Review, only a few Japanese stores have adopted WeChat Pay, which is targeted at Chinese travellers who account for a quarter of all visitors to Japan and spend a lot more than other groups.
Telecom Asia — Smartphone and tablet-based mobile point-of sale (POS) terminals will handle 40% of all retail transaction value by 2021, up from an expected 12% in 2016, a new study from Juniper Research showed. The research firm forecasts that the use of mPOS systems will account for more than 1 in 3 POS terminals by 2021, driven by larger retailers adopting mPOS as part of an array of point-of-sale options.
The Standard — Six banks will bring Apple Pay to Hong Kong this summer with their Visa, Master-Card and American Express credit cards, including the Hongkong and Shanghai Banking Corporation and Hang Seng Bank. Other banks taking part are Standard Chartered, BOC Hong Kong, The Bank of East Asia and DBS Hong Kong.
Tech in Asia — Apple Pay is finally making its big move towards becoming ubiquitous in Singapore. AsChannel NewsAsia reports: Tech giant Apple announced the expansion of its mobile payment service, Apple Pay, in the Republic on Wednesday (May 25). Before this, only customers with cards issued directly by American Express were able to use the service.
Times of India — NEW DELHI: Paytm , MobiKwik and Oxigen have rebuffed PayU’s comment that the era of mobile wallets is over, pointing to the millions of Indians who are still unbanked and the growth of smartphones. They, however, admit that there may be no space for new entrants or smaller companies, especially with the new payments system – Unified Payments Interface (UPI) – coming in.
Enterprise Innovation — Starbucks expanded its digital ecosystem with the launch of its mobile app in Japan, which introduced mobile payment and eGifting to the company’s fourth largest market. With the app, customers can pay for their in-store purchases at more than 1,100 stores across the market simply by scanning a bar code linked to their registered Starbucks card.
ZDNet — Eight in 10 Singaporeans say they will use their smartphones instead of cash or physical payment cards to pay for goods and services in physical retail stores. The survey finding from Visa signalled positive consumer sentiments towards mobile payments, as adoption of contactless payment continued to grow, said Ooi Huey Tyng, Visa’s country manager for Singapore and Brunei.
Tech in Asia — Singaporean telco Singtel announced today the overhaul of its Dash mobile payments app to enable cashless payments everywhere from retail outlets to the MRT subway system using just your smartphone – even if you’re not a Singtel mobile subscriber.
Enterprise Innovation — Singtel has enhanced its mobile wallet app, Singtel Dash, with new features in its bid to claim a larger slice of the mobile payments pie. Singtel Dash was first launched in 2014 as a collaboration between Singtel and Standard Chartered Bank in Singapore. The carrier-agnostic service is open to all users in Singapore with an iOS or Android mobile device.
Tech in Asia — Till now, if you were an Uber user in India who wanted to hail a cab anywhere outside the country, you would have had to mandatorily register a credit card on your account. But most Indian internet users don’t have a credit card. India, with its over 350 million internet users, has just 21 million credit card users. But today onwards, Paytm wallet users can hail an Uber cab and pay with the online wallet at any of the 400-odd cities Uber runs in. Paytm has tied up with Uber for this.
Tech in Asia — Uber and Alibaba’s spin-off mobile payments service today announced the launch of a joint program to allow Chinese ride-hailers to use Alipay to pay for their trips anywhere in the world. The first inklings of this deal came in February, when the companies announced that mainland Chinese users would be able to use their Alipay accounts to pay for rides in Hong Kong, Macau, and Taiwan. Today’s news expands that scope to include all of the 400-plus cities where Uber operates around the world.
Myanmar Times — The Central Bank announced yesterday that it had issued rules on mobile financial services at the end of last month to build an enabling regulatory framework for efficient and secure mobile financial services in Myanmar. For some, the country seems primed for these services. Few of its 51.4 million population have bank accounts, and distrust of the financial sector remains high.
Singapore’s StarHub has introduced the ability for its customers to use Apple Pay for secure mobile payments. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on the device. Each transaction is authorised with a one-time unique dynamic security code.
Telecom Asia — Telecom Asia — Financial inclusion in Bangladesh just took a stride closer to reality with the launch of a new international remittance receiving service via a partnership between MasterCard, Western Union, bKash and BRAC Bank. The new service enables bKash’s registered customers to use their mobile phones to receive remittances from abroad directly into their bKash accounts.
SMH — Payments business Fastacash is predicting a multibillion-dollar boom in money transfers between people via social media apps such as Facebook and WhatsApp, as it eyes a potential Australian listing. The Singapore-based firm, reported to be planning a float on the ASX, is one of several companies targeting the potential for consumers to use social media apps to send money, as well as pictures or videos, to friends or family.
Enterprise Innovation — Near Field Communication (NFC) technology would allow Singaporeans to pay for their public transport rides through their mobile phones. The Land Transport Authority (LTA), Infocomm Development Authority of Singapore (IDA), and EZ-Link recently concluded a joint trial with the mobile network operators and public transport operators on the use of compatible mobile phones.
Add this to the list of things you can do with WeChat: buy Apple gadgets. Tencent’s messaging-app-cum-everything-platform announced Wednesday that support for WeChat Pay has been added to Apple’s official online stores in China. That means that you can now use WeChat pay for all of your Apple gadget and accessory needs.
ZDNet — Singaporean incumbent telecommunications provider Singtel has announced the upcoming launch of its Transit NFC SIM, enabling customers to pay for train and bus trips using smartphones with near-field communication (NFC). Singtel customers across the island will be able to pay for MRT, LRT, and bus rides using an NFC phone that has the telco’s Dash app installed.
Telecom Asia — Apple and Samsung recognize that revenue from the sale of mobile devices, alone, cannot keep shareholders happy. With the vendors venturing into what is arguably one of the most exciting spaces in the financial services space – payments – it begs the questions of who will follow suit and whether the market can afford multiple payment providers.
Telecom Asia — SK Telecom has revealed that its Bluetooth Low Energy (BLE) based mobile payment service T Pay has surpassed 100,000 subscribers just two weeks after launch. T Pay offers the ability for customers to pay for purchases without touching their phones, and be charged through carrier billing. It is based on a BLE payment platform developed by SK Telecom.
Times of India — Apple Inc will integrate Apple Pay with its Safari browser later this year, allowing users to make purchases from mobile websites, technology website Re/code reported, citing sources. The mobile payments system will be available to shoppers who use iPhone and iPad models that have the company’s fingerprint technology, Re/code reported.
Digi Times — Tencent on March 17 released its financial report for 2015, with consolidated revenues of CNY102.863 billion (US$16.37 billion) increasing 30.32% on year, according to the company. There were 853 million active users of QQ and 697 million active users of WeChat instant messenger each month in 2015, Tencent said.
Enterprise Innovation — Mobile money interoperability in the Philippines took a step forward with the successful integration of the digital payments mobile app of Paymaya Philippines, the digital financial services arm of PLDT and Smart Communications, Inc. (Smart), with Globe Telecom’s mobile money service GCash. It is seen to boost the local digital commerce ecosystem.