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    People’s Bank of China (PBOC)

    News stories featuring People’s Bank of China (PBOC):

    PBoC reports on China mobile payments market

    October 28th, 2016

    The number of mobile payments made in China have grown 10% year on year since 2013, according to the People’s Bank of China (PBoC). Its data shows that, during the second quarter of 2016, banks handled 32.32bn electronic payment transactions worth 570.95tn yuan (US$84.2tn), including 6.14bn mobile payment transactions worth 29.32tn yuan (US$900bn). Meanwhile non-bank payment institutions handled 37.71bn online payment transactions worth 23.35tn yuan (US$3.4tn), up 111% year on year.

    PBOC working to regulate QR code mobile payments in China

    July 25th, 2016

    People’s Bank of China (PBOC) is working to create a system for regulating QR code mobile payments in the country, after it suspended QR code-based services run by third-party payment providers in March 2014. “Payment providers including Alipay and Tenpay, along with a number of commercial banks, have continued marketing their QR code payment services,” Caixin reports. “A source close to the central bank said that the 2014 ban was put in place because there were no rules or standards for third party QR code payment services.” PBOC also moved to open up Chinese mobile payment services in August 2015.

    ARM includes AMS NFC payments booster in wearables reference design

    February 23rd, 2016

    PARTNER NEWS: A new reference design for wearables from processor designer ARM includes high-performance NFC technology from AMS that enables small-footprint devices with tiny antennas to couple with NFC readers as easily and reliably as… More

    LG U+ to issue UnionPay mobile credit cards in China

    August 12th, 2015

    Korean mobile network operator LG U+ will issue UnionPay mobile credit cards and payment services in China, in partnership with KB Kookmin Card, from next month. “The telecoms operator is about to obtain approval from the People’s Bank of China,” Business Korea reports. “The users can use NFC-based mobile credit card payments at five million UnionPay terminals in China.”

    China moves to open up mobile payments services

    August 4th, 2015

    People’s Bank of China has proposed new regulations that could force internet companies Alibaba, Tencent and Baidu to offer each others’ online payment services alongside their own. “If payment services from social networking and online entertainment firm Tencent and search firm Baidu are offered on Alibaba’s ecommerce sites, users could opt to use those,” Reuters reports. “Alternatively, Alipay could cement its dominance if customers opt to use it on rivals’ platforms.”

    NXP offers pre-validated NFC mPOS module

    February 9th, 2015

    PARTNER NEWS: An mPOS module that provides developers with “a complete hardware and software reference demonstrator for secure near field communication enabled mobile point of sale solutions” has been developed by NXP in partnership with… More

    Brightwire: Apple signs mobile payments deal with China UnionPay

    May 12th, 2014

    “Apple is likely to incorporate a near field communication (NFC) payment function in the next generation iPhone and has reached an agreement with China UnionPay on a mobile payment service,” investment newswire Brightwire reports, citing… More

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