China Payments Research

Dec

Wang’Lian, the new clearing house for digital payments in China

Since the start of this year, there have been many news about the set up of “Wang’Lian”, which means Non Bank Internet Payment Union, in China.

Dec

China Payments Research

China gives up on NFC, goes QR

NFC standards have been agreed and in place for just over 5 years in China, but have made little headway. On Monday this week, China UnionPay launched their own QR code solution. China UnionPay was one of NFC’s primary supporters, so this shift to QR could mean the end of…

Dec

China Payments Research

The Internet Banking Union may help you transfer money from Alipay to Wechat pay

This week, the Internet Banking Union (IBU) was approved by China’s central bank the People’s Bank of China (PBOC) thus creating a ‘Digital Union Pay’ that may bring cross-platform interoperability to digital payment platforms including Alipay and WeChat Pay. The platform is expected to launch by the end of the…

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China Payments Research