How Are Consumers Using WeChat Pay?

The use of WeChat Pay skyrocketed when Tencent introduced the Red Envelopes function. Traditionally filled with cash and given as gifts to loved ones during the Chinese New Year festival, WeChat gave red envelopes a 21st century twist. What Functions Does WeChat Pay have? Mobile Payment Functions Us...

Continue Reading

Alipay Invests in India

Alibaba has recently purchased a 40% stake in the largest mobile payments company in India, PayTM. PayTM has grown rapidly due to the demonetisation of the India economy in late 2016. 98% of transactions in India were cash based before the policy was introduced that removed 86% of cash from the econ...

Continue Reading

The Top Events at London Fintech Week 2017

Today marks the start of London Fintech Week 2017. Here’s our round up of the top events each day if you could only choose one.  Monday China and Digital Currency Michael Cao – Partner  block.one Michael is a member of the Satoshi Roundtable, an invitation only group of leaders in blockchain t...

Continue Reading

Is India Prepared To Be a Cashless Society?

Towards the end of 2016, India’s Prime Minister Narendra Modi eradicated 86% of cash in circulation in the country in an effort to demonetise the economy and drive India towards becoming a cashless society. To do this, he removed the 500 and 1000 rupee notes from circulation. Why Become a Cashless S...

Continue Reading

Mobile Payments in China vs The USA

Mobile payments in China in 2016 accounted for over half of it’s total GDP, reaching a record $5.5 trillion worth of transactions. China’s mobile payments market is now 50x the size of the market in the US. A key driver in the growth of mobile payments in China is the ease of use and accessibility....

Continue Reading

The Anti Money Laundering Fight is On in Hong Kong, Beijing and Macau

The Hong Kong Monetary Authority (HKMA) has met with Monetary Authority of Macau (AMCM) and representatives of the People’s Bank of China (PBOC). After the meeting, the AMCM announced plans to launch a new Financial Security Expert Alliance in order to tackle money laundering, the finance of terrori...

Continue Reading