News about Asia Pacific.
January 17th, 2017
The global mobile payments market will reach US$3,388bn by 2022, growing at a compound annual growth rate (CAGR) of 33.4%, Allied Market Research predicts. “NFC has high growth potential and is anticipated to exhibit CAGR of around 36% during the forecast period,” the firm says. “By mode of transaction, in 2015, SMS accounted for about 54% of the overall payments market share, followed by wireless application protocol (WAP). Asia-Pacific is expected to witness the highest growth rate.”
June 16th, 2016
Samsung is extending its global collaboration with Citi to deliver Samsung Pay within the Asia Pacific region, specifically in Singapore and Australia. “The partnership marks a new addition to Samsung Pay’s extensive portfolio of major payment networks and banks,” Samsung says. “Further additional markets will be added to the network in the coming months.” Samsung Pay launched in Australia earlier this week and began rolling out across Singapore this month.
May 27th, 2016
Apple is “working rapidly” to expand Apple Pay across more countries in Asia and Europe, Jennifer Bailey, VP of the mobile payment service, has told TechCrunch. “Our goal is to have Apple Pay in every significant market Apple is in,” Bailey said. “We have announced Hong Kong, [and] across the [Asia Pacific] region, we’re talking to many partners and banks and evaluating how quickly we can bring Apple Pay to new markets.”
April 27th, 2016
Contactless technology was built into 56% of all smart cards shipped globally excluding the Americas in 2015, up from 42% in 2014, the Smart Payment Association reports. “53% of all cards shipped in Europe were contactless, while in the Asia Pacific region, an impressive 74% of cards featured contactless technologies,” says the association. Approximately 2.6bn chip payment cards were shipped around the world last year, with 570m shipped to the US — a two-fold increase on 2014 — and a 27% growth in shipments in China.
December 14th, 2015
Visa has announced that the host card emulation (HCE) based mobile payments service launched by United Overseas Bank (UOB) in November is the first in Asia Pacific to make use of the Visa Token Service. “UOB has implemented the Visa Token Service as part of its digital wallet UOB Mighty,” Visa says. The service lets customers in Singapore make mobile payments for transactions of any value at all Visa PayWave or MasterPass terminals.
June 3rd, 2013
The Conexus Mobile Alliance, a regional grouping of mobile network operators, is promoting NFC throughout Asia with a “Tap and Get” smart poster campaign. Tap and Get rewards customers of Korean carrier KT or Japanese…