A shopper pays for purchases with his smartphone at a supermarket in Shanghai in January. CHINA DAILY BEIJING – The People’s Bank of China on Monday began to solicit public opinion on the detailed rules regulating the non-bank payment institutions, as a part of efforts to enhance their supervision and management. The document aims to … Continue reading China details regulations on non-bank payment institutions
Tag: payment
Chinese yuan fourth biggest payment currency
A cashier counts RMB notes in a bank in Haian, Jiangsu province. [Photo/Sipa] The Chinese yuan has ranked as the world’s fourth biggest payment currency for the fifth month in a row as of March, accounting for 4.69 percent of global payments by value, according to global financial messaging platform Swift. The proportion was up … Continue reading Chinese yuan fourth biggest payment currency
Delisting guideline to root out disqualified companies
An investor in Shanghai checks stock index movements on a mobile phone. [PHOTO by WANG GANG/FOR CHINA DAILY] The guideline to strictly execute the delisting mechanism released by the China Securities Regulatory Commission on Friday and the exchanges’ revised listing rules unveiled on the same day aim to rule out the disqualified companies in the … Continue reading Delisting guideline to root out disqualified companies
Maldives to allow settling import payments using Chinese currency
COLOMBO – Maldivian Minister of Economic Development and Trade Mohamed Saeed has said that Maldivians will soon have the option to settle their import payments using Chinese currency, the renminbi (RMB). Saeed told a gathering on Thursday that the government’s objective is to diversify its settling currency from the US dollar, adding that they expect … Continue reading Maldives to allow settling import payments using Chinese currency
China enhances payment services at key tourism sites
Chinese authorities recently released a circular with specified measures to further optimize payment services and improve convenience in major tourist attractions across the country. The diverse payment needs of senior citizens, foreign and other visitors in the cultural and tourism sectors will be better met, according to the circular jointly issued by the People’s Bank … Continue reading China enhances payment services at key tourism sites
Apps simplify expense steps for foreign users
A foreign resident uses a mobile payment app at a restaurant in Hangzhou, Zhejiang province. [Photo/China Daily] Chinese mobile payment service providers are making it easier for overseas visitors to pay for their daily purchases online, as part of a broader drive by the nation to improve the payment experiences of foreigners. Alipay, the digital … Continue reading Apps simplify expense steps for foreign users
Visitors to benefit from payments revamp
Visitors purchase cashmere products through mobile payment methods during the 20th China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region, in September. [Photo/China Daily] China is expected to intensify efforts to facilitate a seamless payment mechanism for foreigners and the elderly, and create a more friendly, inclusive and multichannel payment environment, said experts and business leaders. … Continue reading Visitors to benefit from payments revamp
Ant Group simplifies payment experience for foreigners, elderly
A foreign tourist pays via Alipay at a store in Beijing. [Photo/China Daily] Ant Group plans to expand mobile payment methods and build more international consumer-friendly zones across major tourist hot spots and commercial cities in China, as part of a broader push by the financial technology company to simplify payment services for foreigners in … Continue reading Ant Group simplifies payment experience for foreigners, elderly
Mastercard eyes booming Chinese consumer market
Various payment options including Mastercard, UnionPay and Visa are available at a store in Shanghai. [Photo/China Daily] The transformation of the Chinese economy which utilizes more innovation-driven and consumption-oriented drivers will further consolidate its solid fundamentals, bringing more business opportunities for foreign investors, said a senior executive of Mastercard. Ling Hai, president for Asia-Pacific, Europe, … Continue reading Mastercard eyes booming Chinese consumer market