Asia Banking Research

Two days after the global transaction service provider SWIFT reported that in August the yuan overtook the Japanese yen to be the world’s fourth-largest payment currency, accounting for 2.79% of the global market, yesterday the PBOC launched the Cross-Border Interbank Payment System (CIPS) in Shanghai.

Earlier this week, Alibaba announced it would be investing an additional estimated USD680 million in Paytm, India’s largest mobile payment platform and part of One97 Communications. The investment ups Alibaba’s overall ownership to around 40% and shows the e-commerce giant’s ambitions to further help develop the mobile commerce and payment…

If you’ve ever been to China, you know how atrocious the mobile phone service can be. Previously, you could use any of a number of carriers…as long as it was China Mobile. You could move your number to a different carrier…as long as you had a different number. Users really…