The delivery of payment cards worldwide will continue to be “severely” impacted by global chip shortages and disruptions in the supply chains of other materials into and throughout 2023, according to a Smart Payment Association (SPA) forecast... More
Nearly one in five Chinese consumers have downloaded the country’s official digital yuan wallet app (19%), with the majority of them mainly using the central bank digital currency (CBDC) for ecommerce purchases (72%) and payments for public services such as transportation (67%), a survey by US research firm Morning Consult has found... More
The total number of contactless payment cards and modules shipped globally exceeded 2bn for the first time and accounted for more than three-quarters of the overall total of 2.63bn smart payment card and module shipments during 2021 (76%), according to figures released by the Smart Payment Association (SPA)... More
Students attending Hainan Lu Xun Middle School in the Chinese city of Sanya are the first in the country to trial a digital yuan hard wallet device that enables them to make payments to designated merchants on and off the school’s campus using China’s central bank digital currency (CBDC) as well as verify their identity using NFC... More
More than one in two consumers worldwide prefer using a physical payment card to using cash or a digital wallet when making in-person purchases (53%), a survey has revealed... More
Providing a cash-like digital means of payment, increasing private digital payment services, supporting financial inclusion and achieving greater payment system efficiency are among the key motivations driving initiatives to develop central bank digital currencies (CBDCs) in emerging market economies around the world, according to a Bank for International Settlements (BIS) report... More
China has issued an update to the pilot version of its digital yuan wallet app for Apple users that is “adapted to the iOS 15.4 system changes” released this week, and has uncovered an attempt to use the central bank digital currency (CBDC) in a fraud and money laundering case, according to local media reports... More
China is to roll out a digital version of its national identity card that residents can store and access on their smartphone across the whole country “this year”, the Chinese premier Li Keqiang has told a press briefing... More
Researchers at Zhejiang University in China have developed a method of printing flexible electronic circuits onto textiles and other surfaces using recyclable liquid metal microgel (LMM) ink... More
Consumers worldwide will use payment services provided by smartphone makers and other original equipment manufacturers (OEMs) to make more than 30.7bn ecommerce transactions by 2026, an increase of more than 24.5bn on the 6.1bn predicted for 2022, according to a forecast by Juniper Research... More
China is to launch trials of its central bank digital currency (CBDC) in more cities and regions across the country after rolling out a pilot version of the digital yuan wallet app in January and trialling the CBDC during the Beijing Winter Olympics... More
Consumers in key markets around the world have switched from physical cash to digital and contactless payment methods at “a rate unprecedented” since the Bank for International Settlements (BIS) launched its Red Book of payment and settlement statistics in 2004, BIS says... More
Around 100 countries are now exploring the potential development and issuance of a central bank digital currency (CBDC), and the challenges and opportunities identified by these research projects reveal a need for “increased international information-sharing of insights learned”, according to an International Monetary Fund (IMF) report... More
Chinese consumers can now make online payments for purchases from the JD.com ecommerce app using digital yuan stored on a physical card or hard wallet via their Android NFC smartphone... More
Overseas athletes and spectators visiting the Beijing Winter Olympics will be among the first foreign nationals to be able to trial China’s digital yuan central bank digital currency (CBDC) at event venues, nearby merchants and inside the Olympic Village... More
Researchers at the University of Science and Technology of China in Hefei have developed a pliable high-strength transparent film and demonstrated how it can be used to create NFC circuits that can still be read even after being folded or bent and could be integrated into flexible electronic and optical devices... More
Apple Pay is now available in 60 countries and regions worldwide, with support from nearly 9,000 partner banks, following the service’s expansion to nine new markets — including Colombia, Israel and Mexico — during 2021, Apple reports... More
Android and Apple users in 10 Chinese cities can now download a pilot version of the country’s digital yuan wallet app directly from the iOS and Android app stores that enables them to acquire, store and use China’s central bank digital currency (CBDC)... More
Drivers taking possession of Huawei’s new AITO M5 electric smart car will be able to lock, unlock and start their vehicle using NFC and Bluetooth-enabled digital car keys... More
Nine in 10 consumers in the Asia Pacific region have used mobile payment apps at least once during the past 12 months, while more than half have used digital payment methods at least once a week and a sixth have made a digital payment for the first time since the beginning of the Covid-19 pandemic (15%), according to research published by Kaspersky... More
