What's New in Payments

Chinese banks and carriers to pilot central bank digital currency

China’s central bank likely to pilot digital currency in cities of Shenzhen and Suzhou — Coindesk — “The People’s Bank of China is said to be preparing to launch pilots for its digital currency in at least two major cities. The tests are likely to include the participation of state-owned partners. These comprise the ‘Big Four’ commercial banks — the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and the Agricultural Bank of China — and three telcos: China Telecom, China Mobile and China Unicom.”


Transit Ticketing Today

Zhengzhou Metro rolls out face scanning across its subway network

China’s subways embrace face-scan payments despite privacy concerns — AsiaOne — “Since the service began trials in September, nearly 200,000 commuters in Zhengzhou have elected to authorise face-scan payments using a local metro service app… While Zhengzhou is among dozens of Chinese cities to introduce such trials, it is the first to deploy the service across its entire subway network.”


Chinese government forms face recognition standards body

Government asks SenseTime to lead plans for national facial recognition standards — Caixin Global — “The working group, which also includes Tencent, Xiaomi, and Ant Financial, is overseen by the National Information Technology Standardization Technical Committee (NITS), which is in turn affiliated with the Ministry of Industry and Information Technology. It will also promote the further formulation of facial recognition standards at an international level.”


What's New in Payments

Central bank reports continued growth in Chinese mobile payments market

China mobile payments maintain rapid growth in Q3 — Xinhua — “Banks in the country processed 27.27bn mobile payment transactions in the period, up 61.05% year on year, said the People’s Bank of China in a report. The value of these transactions increased by 31.52% from the same period of last year to 86.11tn yuan (about US$12.2tn). Meanwhile, online payment transactions by the non-banking institutions were valued at 63.99tn yuan in Q3, up 23.04% year on year.”




What's New in Payments

Chinese supermarket to launch face recognition payments in Canada

Pay with your face system coming to Canada, but not everyone is on board — Yahoo Finance — “Ryan Li, Foodymart’s executive manager, sees the technology as an opportunity to grow his company’s business by attracting new customers, as well as cutting down on checkout times. Li also said between 50% and 60% of Foodymart customers have lived in China, and he expects most of them have previously interacted with a facial recognition payment system.”




Transit Ticketing Today

Zhengzhou Metro rolls out face recognition ticketing

Face-scanning metro check-in and payment launched in central China — Xinhua — “Zhengzhou Metro in central China’s Henan Province has ushered in the face-scanning era, as a new check-in and payment system based on facial recognition was launched on Friday… It is the first face-scanning metro check-in and payment system in the country launched along a full metro line, providing passengers with a better experience of quick pass access and automatic ticket buying.”



What's New in Payments

China to move to common QR payments standard

In depth: The fight for dominance in China’s mobile payment market — Caixin Global — “Under the plan, by the end of 2021 all merchants will be able to use one universal barcode to facilitate transactions through different payment service providers, including banks, Alibaba’s Alipay and Tencent’s WeChat Pay. Currently, payment providers issue different barcodes that can be used only on their own services.”




Transit Ticketing Today

Guangzhou Metro pilots facial recognition at ticket barriers

South China city subway adopts facial recognition — Xinhua — “Instead of using tickets or swiping their smartphones, passengers can smile at a screen to unlock the electric gates in about half a second after completing a real-name registration on Guangzhou Metro’s official mini-program on WeChat, China’s popular social media platform, or on the ‘Guangzhou Metro’ mobile app. The fee will be deducted from the payment methods that subway riders previously register and validate through their mobile phones.”







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