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China Payments News
Payments and Banking Technology, News and Resources on China
- Shenzhen Development Bank Selects Todos for eBanking Authentication
Shenzhen Development Bank (SDB) has appointed Todos Data System to deliver a new remote two factor authentication solution for its internet banking customers. The new solution will increase security and improve internet bank usage as well as minimizing support costs.
- China Southern Launches Phone Payment System
China Southern Airlines, the largest airline in China has launched a new telephone payment system which allow customers to purchase their e-tickets by dialing a number.
- HSBC Begins Rural Bank Operations in Central China
On 13 December HSBC Rural Bank opened for business in the Cengdu District of Suizhou City in Central China's Hubei Province, establishing HSBC as the first international bank to enter China's fast growing rural market.
- UCBH Holdings Acquires Shanghai Business Development Bank
UCBH Holdings, the holding company of United Commercial Bank (UCB) has completed its acquisition of Shanghai-based Business Development Bank Ltd. (BDB). The BDB name has changed to United Commercial Bank (China) Limited, which now operates as a subsidiary of UCB. This acquisition provides UCB with branches in Shanghai and Shantou, and representative offices in Beijing and Guangzhou. (Business Wire)
- Fiserv CBS Worldwide, Digital China Sign New Client in China
Fiserv CBS Worldwide is to implement its International Comprehensive Banking System (ICBS) for ShenZhen Rural Commercial Bank through its local partner Digital China Financial Software.
- Rural Credit Unions for the first time Allowed to Issue Credit Cards
The Zhejiang Rural Credit Union becomes the first rural credit union (RCU) of its kind to obtain a credit card business license from the China Banking Regulatory Commission. The CBRC's initiative aims to advance rural financial innovations and further improve the agriculture-supporting functions of the RCUs and rural cooperative banks.
- Chinese Fast-Food Chain Selects NCR for POS Technology and Services
Chinese fast-food chain Real Kungfu has selected NCR to provide POS technology and services. Under a three-year agreement, Real Kungfu will purchase 4,000 NCR RealPOSв„ў 21 POS terminals, which will be deployed either in new stores or to replace current systems in existing stores.
- HKMA Launches Electronic Trading Platform for Bond Market
On 11 December the Hong Kong Monetary Authority (HKMA) launched the electronic trading platform (ETP) for Exchange Fund Bills and Notes (EFBNs), which will enhance the price transparency among the market players and streamline the trading process.
- China Foreign Exchange Trade System Selects Cicada Composer for Data Dissemination
The China Foreign Exchange Trade System (CFETS) has recently signed a multi-year license agreement with Cicada for the use of the company's leading data management and dissemination platform, Cicada Composer. The two organizations are working on the development and implementation of the solution which is expected to go into production in the first quarter of 2008.
- HSBC to Acquire The Chinese Bank in Taiwan
The HSBC has been named the successful bidder in a government auction to acquire The Chinese Bank in Taiwan. The acquisition will increase HSBC's island-wide branch network from eight to 47, giving it a presence in all the major cities in Asia's fourth biggest banking market.