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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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August 15, 2025
On the wires
RayNeo and Ant Group Forge Strategic Partnership to Advance AR Glasses Innovations in Payments and Beyond
Business Wire
"RayNeo X3 Pro AR glasses are the first to support payments through both the merchant terminal and QR code, powered by Alipay’s multidimensional risk-control solution for AR glasses.The two parties will expand AR glasses applications across various daily services, with the goal of making AR glasses an essential part of daily life and a true personal assistant on the go."
August 13, 2025
On the web
China Eyes RMB Stablecoin To Challenge Dollar Dominance After CBDC Plans Stall
CCN
"After years of promoting its central bank digital currency (CBDC), China is quietly changing course. The e-CNY, once touted as the future of digital payments in the country, has lost momentum. This is due in part to slow adoption and a recent corruption scandal involving its key architect. Now, officials are warming up to a more flexible alternative: stablecoins."
July 2, 2025
On the web
The Yuan's Digital Leap: Betting on China's Stablecoin Ambitions in a Dollar-Dominated World
AInvest
"The global financial system is on the cusp of a seismic shift as China accelerates its push to tokenize the yuan through digital currency initiatives. With the U.S. dollar still dominating 80% of global payments, Beijing's efforts to internationalize the yuan via its digital counterpart—the e-CNY (digital yuan)—and yuan-backed stablecoins are no mere technical experiment."
June 23, 2025
On the wires
Alipay+ Launches World’s First Smart Glasses-Embedded Payment Solution
Business Wired
"After Alipay debuted a smart glasses payment solution with Rokid in China, Alipay+, the unified wallet gateway service under Ant International, announced the Alipay+ smart glasses-embedded payment solution for global e-wallets. In collaboration with Meizu, a global industry leader, Alipay+ completed the world's first real-world smart glasses-embedded e-wallet payment transaction in Hong Kong."
June 19, 2025
Top Post
Standard Bank First in Africa to Offer Access to China’s Cross-Border Interbank Payment System
TechAfrica News
"In a first for the continent, Standard Bank Corporate and Investment Banking is the first authorised bank to offer transactions through China’s Cross-Border Interbank Payment System (CIPS). The payment system will allow for interbank payments between Africa and China using Chinese Renminbi (RMB) as the underpinning currency."
June 18, 2025
On the web
CIPS Signs Direct Participant Agreements With Six Foreign Institutions, Facilitating Use of Yuan in Cross-Border Transactions
Global Times
"China's Cross-Border Interbank Payment System (CIPS) signed direct participant agreements with six foreign institutions in Shanghai, marking the first time that the system's overseas foreign direct participant coverage extends to offshore yuan centers in Africa, the Middle East, Central Asia, and Singapore, which will facilitate the use of the yuan in cross-border transactions, China Media Group reported."
On the wires
China Talks up Digital Yuan in Push for Multi-Polar Currency System
Reuters
"The head of China's central bank pledged to expand the international use of the digital yuan and called for the development of a multi-polar global currency system, where several currencies dominate the world economy. China will establish an international operation centre for e-CNY in Shanghai, People's Bank of China Governor Pan Gongsheng said on Wednesday at the Lujiazui Forum, a high-profile gathering of local and foreign financial industry executives and regulators."
April 16, 2025
On the web
China, Vietnam Promote Interconnectivity of QR Code Payments
YiCaiglobal
"China and Vietnam have agreed to promote cross-border QR code payments, based on the consensus reached by the two countries’ central banks on two-way connectivity cooperation. China UnionPay International, National Payment Corporation of Vietnam, Industrial and Commercial Bank of China, and Vietcombank, signed a deal on April 14 to promote reciprocal acceptance of QR code payments, the People’s Bank of China announced yesterday."
March 14, 2025
On the web
Rise of Digital Wallets Integrating Payments and Digital Identities Across Asia
Biometric Update
Digital payment wallets are advancing financial transactions, with China’s Alipay and WeChat Pay, India’s Paytm and PhonePe, and Indonesia’s GoPay leading the way in mobile payments. Some countries are now linking digital identity and payments, including China Alipay’s digital ID integration, Singapore SingPass’ financial services extension, and India’s Aadhaar-linked united payment interface (UPI) wallets to create a single digital landscape.
February 5, 2025
On the wires
Alipay Records Surge of China Inbound and Outbound Travel Spending During the 2025 Chinese New Year
Business Wire
"During the 2025 Chinese New Year, Alipay recorded a significant increase in China’s outbound and inbound travel spending. Through the Alipay+ cross-border mobile payment and digitalization solutions, Chinese travelers, along with users of the other 34 e-wallets in Asia and Europe, can use their own home payment app across 66 markets without the need to exchange currency or carry cash."
January 17, 2025
On the web
Alipay Bears Cost of System Error That Applied Discounts to User Transactions
South China Morning Post
"Alipay, China’s leading mobile payments platform, will bear the expense from unexpected losses that it incurred on Thursday, when a system error gave a 20 per cent discount to an undisclosed number of user transactions."
January 16, 2025
On the web
Beijing Introduces Dedicated Mobile Payments Devices for Foreign Visitors
NFCW
"Travellers arriving at Beijing Capital Airport are now able to rent a dedicated mobile payments and local communications device from a service desk in the Terminal 3 arrivals hall, making it quick and easy to access local mobile payments services during their visit to China."
January 15, 2025
On the web
Chinese Organized Crime’s Latest U.S. Target: Gift Cards
ProPublica
"Chinese crime rings already dominate the illegal marijuana trade in the U.S. and launder cocaine and heroin profits. Now a federal task force is investigating their role in a burgeoning form of gift card fraud."
January 14, 2025
On the web
Hong Kong FPS to Enable Small Cross-Border Payments with Mainland China by Mid-2025
Fintech Hong Kong
"The Hong Kong Monetary Authority (HKMA) has announced plans to connect the Hong Kong FPS with mainland China’s Internet Banking Payment System (IBPS) this year, enabling small cross-border transactions using mobile phone numbers."
XTransfer Officially Receives MPI License from the Monetary Authority of Singapore
PR Newswire
"XTransfer, the World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, was granted the Major Payment Institution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS). This significant milestone strengthens XTransfer's leading position in the B2B cross-border payments industry."
January 6, 2025
On the web
Laos and China to Introduce QR Code System Connecting Their Payment Networks
Travel Daily Media
"Laos’ Lao National Payment Network Company Limited (LAPNet) and China’s UnionPay International (UPI) formally signed an agreement to introduce a QR code-based system connecting the two countries’ payment networks."
January 2, 2025
On the web
Unionpay and Weixin Pay Expand Payment Options for Tourists in China
IBS Intelligence
"UnionPay International and Weixin Pay have partnered to allow users of international UnionPay-powered wallets to scan Weixin Pay payment codes in the Chinese mainland. Eight wallets are now able to offer this feature, namely BoC Pay from Bank of China (Hong Kong), Octopus, PayMe by HSBC, and Tap & Go in Hong Kong SAR; Bangkok Bank Mobile Banking and K PLUS from KASIKORNBANK in Thailand; Naver Pay in South Korea; and ICBC Mobile Banking (ICBC Pay) in Malaysia."
December 2, 2024
On the web
China’s Digital Yuan Adoption Faces ‘Bottlenecks,’ Says Director of Shanghai-Based University
Crypto News
"China‘s central bank digital currency — also known as the digital yuan — is still encountering “bottlenecks” in user adoption, driven by reluctance and competition from platforms like Alipay, says Charles Chang, director of the Fintech Research Centre at Fudan University in Shanghai."
November 11, 2024
On the web
Ant International Drives AI in Cross-Border Payments to Boost Global Expansion
South China Morning Post
Ant International is deploying artificial intelligence to improve cross-border payments for small-and medium-sized enterprises (SMEs) worldwide. The AI model predicts currency exchange rates on an hourly basis for both inbound and outbound transactions, helping businesses reduce transaction costs and better allocate resources.
October 22, 2024
On the web
Tenpay Global & TerraPay to Enable International Money Transfers to more than one billion Weixin and WeChat Users
PR Newswire
"TerraPay, a global leader in cross-border money movement, has announced a strategic partnership with Tenpay Global, Tencent's cross-border payment platform renowned for its innovative financial services through the Weixin ecosystem."
October 11, 2024
On the web
One in Eight Chinese People Have a Digital RMB Wallet
Ledger Insights
"Mu Changchun, head of the Digital Currency Research Institute at the People’s Bank of China (PBoC), provided an update on the roll out and adoption of its central bank digital currency (CBDC) pilot. As of July there were 180 million personal wallets, which represents about one in eight of the 1.4 billion Chinese population. The cumulative transaction volume reached RMB 7.3 trillion."
October 7, 2024
On the web
China’s 2024 National Day Golden Week Sees 60% Rise in Outbound Travel Transactions and 120% Surge in Inbound Spending YoY Via Alipay
Business Wire
"During the 2024 National Day Golden Week, Alipay recorded a significant increase in both China’s outbound and inbound tourism spending. In China, international travelers spent 120% more year-on-year using their international card-enabled Alipay accounts at merchants during the first four days of the National Day holiday. Alipay Tap! saw transaction volume increase by 130% during the holiday compared with the same period in September."
October 3, 2024
On the web
Alibaba’s Taobao Introduces Tencent’s WeChat Pay, Set to Add JD Logistics
China Daily
"Starting Friday, consumers shopping on Alibaba's Taobao platform can now use Tencent's WeChat Pay for transactions, according to an official statement from Taobao. The new payment option allows users to complete purchases with WeChat Pay, and subsequent updates will enable users to access transaction records and bills directly within the WeChat app, WeChat Pay said."
On the wires
Worldline Partners With Bochk to Launch Open Platform Card Solution in Hong Kong
PR News Wire
"Worldline announced a partnership with the Bank of China (Hong Kong), making it Worldline's first customer of its open platform card solution Paysuite Essential Edition (Previously named Cardlite) in Hong Kong."
September 16, 2024
On the web
China Mulls How to Incentivize CBDC Adoption by Payment Providers, Consumers
Ledger Insights
"We recently reported that China’s central bank digital currency (CBDC), the eCNY, processed $56 billion in transactions in a single month. It reached a cumulative volume of RMB 7 trillion, which is nearing the $1 trillion mark ($932 billion to be precise). However, a fair proportion is business usage. Stories continue to circulate about a lack of consumer enthusiasm for the digital RMB."
September 13, 2024
On the web
International Visitors to Beijing Can ‘Tap & Go’ With Mastercard Cards to Pay For Rides on Beijing Urban Rail Transit
Mastercard
"Supported by the PBC, the Beijing government, and the city’s urban rail transit system, Mastercard has become the first international payment brand in Chinese mainland to complete system integration and successfully launch the 'Tap & Go' feature for urban rail transit"
September 11, 2024
On the web
Tencent’s WeChat Pay Brings Palm Payments to Macau, Targeting Mainland Chinese Tourists
South China Morning Post
"WeChat Palm Pay lets mainland tourists pay by scanning their hand in shops located in hotels under the Galaxy Entertainment Group"
September 4, 2024
On the web
Alibaba to Allow Payment Through Tencent’s WeChat Pay for the First Time on E-commerce Apps
CNBC
"Chinese tech giant Alibaba said that its core Taobao and Tmall e-commerce platforms will now allow payment through Tencent’s WeChat app for the first time. Previously, Alibaba’s Chinese e-commerce sites only accepted limited payment options and pushed WeChat Pay rival Alipay as one of the main ways to pay."
July 23, 2024
On the wires
XTransfer and EBANX Partner to Facilitate B2B Trade Payments in Latin America
PR News Wire
"XTransfer, China's top B2B cross-border trade payment platform, and EBANX, the leading payment platform connecting global companies with customers in Latin America, Africa, and Asia, announced a strategic partnership aimed at streamlining B2B trade payments in Latin America."
July 12, 2024
On the wires
LianLian Global and Guavapay Announce New Global Payment Experience
PR Asia
"LianLian Global and Guavapay have signed a cooperation agreement to jointly create a convenient, efficient and secure global payment experience. The partnership enables people to send money to China through Guavapay's payments app, MyGuava ."
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