Consumers across the globe will use their mobile phones to spend a total of US$620bn on all forms of mobile transaction this year, representing a 37.8% year-on-year growth from $450bn in 2015, research from TrendForce reveals. By 2017, total mobile payment revenue will reach $780bn, climbing to $930bn in 2018 and $1.08tn in 2019. More
Chinese ecommerce giant Tencent is testing its WeChat Wallet service with users in Hong Kong... More
Chinese ecommerce giant Tencent has launched a mobile wallet service in South Africa in partnership with Standard Bank. The service lets users of social messaging app WeChat make P2P transfers, pay for services such as airtime, data and electricity and make in-store payments by scanning QR codes at merchants supporting the SnapScan mobile payments platform. More
More than 200 million customers have bound their bank cards to internet giant Tencent’s QQ Wallet and Weixin Pay mobile payment platforms, the company has revealed — but supporting them is proving costly... More
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... More
Chinese internet giant Tencent has released a mobile operating system that is set to include mobile payments functionality... More
Tencent’s instant messaging app WeChat can now be used to make payments in the retail stores of nine Chinese merchants including DQ Ice Queen, NUS Pharmacy, Rainbow, One Plus One, Lotus, Good Neighbours, Baby Room, Minsheng Department Store and NUS 365, according to Iamwire... More
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