SoftBank backs PayPay mobile payments launch with 20% cashback offer

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SoftBank and Yahoo Japan-backed PayPay is to go live in Japan on 4 December with a 10bn yen (US$88.6m) promotional campaign that will see users receiving a 20% cashback on all the purchases they make with the new QR mobile payments service between the launch date and 31 March 2019, up to a monthly cashback total of 50,000 yen (US$443) per customer... More







CIMB deploys multi-QR POS terminals that support six different mobile payment services

CIMB is first in Malaysia to bring QR acceptance from six mobile wallets on one payment terminal — CIMB Bank — “The six mobile wallet partners to be accepted on CIMB terminal are Alipay, Touch & Go Digital, Boost, KiplePay, Mcash, and Vcash. These six mobile wallets have a combined estimated customer base of about 4.5 million in Malaysia and 520 million registered mainland Chinese users.”


Taiwan Cooperative Bank tests standardized EMVCo QR codes for payments

Taiwan Cooperative Bank completed Taiwan’s first standardized QR code payment in partnership with Visa — Visa — “By adopting the EMV QR Code Specification, as supported by Taiwan’s two large domestic payment switches, consumers can enjoy a fast, convenient and secure payment experience. The specifications are intended to be globally interoperable; and with the right mobile application local consumers as well as overseas travellers will be able to use the same QR code to make payments everywhere the specifications have been adopted.”


Japanese banks launch blockchain P2P payments service

SBI Ripple Asia’s MoneyTap app has launched in Japan — Coindesk — “The product allows users to send funds to others using just their telephone numbers or a QR code, and utilizes devices’ biometric log-in features, such as fingerprint scanning, for security… Currently, the service is only able to remit between accounts held at the three participating Japanese banks — SBI Sumishin Net Bank, Suruga Bank and Resona Bank. Payments are being offered at no charge and can be sent in Japanese yen or foreign currencies.”


Hong Kong links QR codes to faster payments to boost mobile wallet adoption

The launch of Faster Payment System (FPS) — Hong Kong Monetary Authority — “The FPS is a unique platform as it supports instant payments in the HKD and the RMB with the use of mobile phone numbers, email addresses or QR codes… A free mobile application tool, namely ‘Hong Kong Common QR Code’ (HKQR), is released today, which can be used for converting multiple QR codes from different payment service providers into a single, combined QR code. This would facilitate merchants, especially small and medium enterprises, in using a single QR code to accept different payment schemes, instead of displaying multiple QR codes to their customers.”


Huami includes NFC for travelcards, payments and access control in $116 budget smartwatch

Huami announces launch of new Amazfit Verge smartwatch — Huami — “Digital wallet functionality in conjunction with UnionPay and Alipay, combined with integrated one-touch public transportation payment in over 160 cities in China, [helps] users capture the convenience of full digital transactions (through NFC and QR codes). The Verge can be also used as entrance access device utilising NFC technology.”


Singapore begins rollout of QR code that works with multiple mobile payment schemes

Singapore introduces world’s first unified payment QR code — SGQR — Monetary Authority of Singapore — “The first of its kind globally, SGQR combines multiple payment QR codes into a single SGQR label, making QR code-based mobile payments simple for both consumers and merchants. SGQR will be adopted by 27 payment schemes including PayNow, NETS, GrabPay, Liquid Pay and Singtel Dash, and will be deployed progressively over the next six months.”



Google rebrands its Tez mobile wallet to Google Pay

Building services for every Indian, in their language — Google India — “Since launching our India-first payments app Tez last September, over 22 million people and businesses have used Tez to make over 750m transactions that are collectively worth over $30bn annually. We believe that many of the innovations and features we have pioneered with Tez will work in other countries. To take Tez beyond India, we will be unifying all of Google’s payment offerings globally. As a first step, Tez will now be called Google Pay.”



Line sets out plans to roll out mobile payments in Japan

Chat app Line plots finance ‘revolution’ with mobile payments — Nikkei Asian Review — “Line, the operator of Japan’s leading chat app, is pushing hard into the banking sphere with plans to aggressively expand in mobile payments, aiming to get its 75 million users hooked on transactions without the fees imposed by conventional banks… Line is rolling out a version of its app that will let small and midsize merchants accept QR code-based payments via Line Pay. Transaction surcharges will be waived for the first three years, and the system costs nothing to set up.”


SoftBank to enter Japanese mobile payments market with Paytm technology and three years’ free processing offer

SoftBank and Yahoo Japan JV to launch ‘PayPay’, barcode-based smartphone payment services in collaboration with India’s Paytm in the fall — SoftBank — “PayPay Corporation, a joint venture established by SoftBank Corp and Yahoo Japan Corporation, today announced that the company will launch ‘PayPay’ smartphone payment services using barcodes (QR code) in fall 2018. PayPay Corporation will team up with India’s largest digital payment company Paytm, a SoftBank Vision Fund portfolio company, to utilize Paytm’s technology and expertise in mobile payments… The service will be free to affiliate stores for the first three years from its launch.”


Singapore Airlines rolls out blockchain digital wallet that lets customers spend loyalty points in retail stores

KrisFlyer launches innovative miles-based digital wallet, KrisPay — Singapore Airlines — “The SIA Group’s KrisFlyer frequent-flyer programme today launched KrisPay, the miles-based digital wallet which enables members to convert KrisFlyer miles into KrisPay miles instantly for everyday spending at partner merchants… Members can easily turn their KrisFlyer miles into KrisPay miles using the app’s instant top-up function… To pay for purchases, members simply need to scan the KrisPay QR code at the merchant, and key in the amount they wish to pay with their KrisPay miles.”



Eight million merchants now accept Paytm QR payments in stores

Tier II and tier III cities are leading the wave of digital payments adoption — Paytm — “We are powering the largest offline payments network with over 8m offline merchant partners who accept payments via the Paytm QR. We have a 3x larger merchant base compared to any card payments network in the country… This has helped us achieve an annual run rate of 5bn transactions and $50bn GTV (Gross Transaction Value).”


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