China Payments News
Payments and Banking Technology, News and Resources on China
- China Unionpay Launches ATM Cash Withdrawal Services in Malaysia
China Unionpay has teamed up with Malaysian Electronic Payment System (MEPS) to launch ATM cash withdrawal services in Malaysia. Chinese visitors are able to use their CUP cards to withdraw money from around 3,000 ATMs of three involved banks including Hong Leong Bank, Maybank and Public Bank.
- Yucheng Technologies Announces Contract Win with Bank of Shanghai
Yucheng Technologies (NASDAQ: YTEC) has announced major contract wins with Bank of Shanghai to provide follow-on ancillary solutions to its online banking system previously built by Yucheng in 2004.
- China Construction Bank Opens Sydney Office
On Nov. 30 China Construction Bank (CCB) opened a representative office in Sydney, Australia. The office is the first step toward the bank's aim of applying for a banking license to establish a branch to offer corporate banking services in Australia, said Zhang Jianguo, CCB Vice Chairman, Executive Director and President.
- Western Union Launches Cash Payment for Google AdSense Subscribers in Nine Countries
The Western Union Company has launched a program that allows Google AdSense Website publishers to receive payment in cash in nine countries including China via the Western Union Quick Cash service. The company plans to expand the program to additional countries by early 2008.
- NYSE Euronext to Open Office in Beijing
NYSE Euronext CEO Duncan L. Niederauer will host the official grand opening of the company's representative office in Beijing on Dec. 11, 2007. On Sept. 4, the New York Stock Exchange was announced as the first foreign exchange to gain approval by the China Securities Regulatory Commission (CSRC) to open a representative office in Beijing. It will become the NYSE's center of operations for advancing the company's brand and service to its listed companies in China.
- Survey: China's Consumer Credit Could More than Quadruple to $2.35 Trillion
The consumer credit market in China has the potential to grow more than fourfold to 2.35 trillion U.S. dollars from the current 500 billion U.S. dollars. However, this huge potential would not easily become a reality since most Chinese banks need to improve their marketing and analysis, says a survey on consumer credit practices in the Asia Pacific region conducted by the Asian Banker.
- China Merchants Bank Enhances Services with New Misys Risk Solution
China Merchants Bank (CMB) has gone live with an advanced market risk and portfolio management solution from Misys. Implementing Misys Opics Risk Plus at its head office in Shenzhen will enhance risk management, enabling the bank to identify further growth markets.
- Bank of China Opens New London Branch
Bank of China (BOC) has opened a new branch in London with a registered capital of 200 million pounds. The new outlet will focus on services including bank card and consumption loans, targeting middle-class and high-end locals as well as Chinese people living in London.
- ICBC Selects BNY Mellon Asset Servicing as Overseas Custodian of China Southern's QDII Fund
BNY Mellon Asset Servicing has been appointed by the Industrial and Commercial Bank of China Limited (ICBC) as Overseas Custodian for its record breaking Qualified Domestic Institutional Investor (QDII) fund in China.
- ASK TongFang to Supply RFID Tickets for 2008 Beijing Olympic Games
ASK has announced that ASK TongFang, its joint venture created in 2005, has been selected to manufacture the contactless inlays for the 12.2 million RFID tickets of the XXIX Olympiad.