QR code scams rise in China, putting e-payment security in spotlight — South China Morning Post — “By replacing legitimate merchants’ codes with malevolent copies, fraudsters can gain access to consumers’ data and even raid their bank accounts… According to one senior official and technology expert, almost a quarter of Trojans — malicious programs disguised as benign software – and other viruses are transmitted though QR codes.”
China
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.”
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.”
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.”
Tencent to let visitors to China add their payment cards to WeChat Pay
Tencent, the owner of Chinese mobile payments provider WeChat Pay, has announced that it is working with Visa, Mastercard, American Express, Discover and JCB to enable cardholders to connect their payment cards to WeChat Pay and then use the platform to make mobile payments when visiting China... More
Alipay lets visitors to China use its mobile payments platform
Tourists visiting China can now use a version of Alipay designed specifically for international travellers to make mobile payments during their trip, Alipay has announced... More
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.”
7-Eleven reports on face biometric payments adoption in China
A face recognition-based biometric payments system installed at 1,000 7-Eleven outlets in southern China last May has been adopted by 10% of the convenience store’s customers, the retailer has told Nikkei Asian Review... More
eMarketer identifies top countries for mobile payments adoption
China remains the country with by far the highest mobile payments adoption rate, with 81.1% of smartphone owners making use of the technology, eMarketer reports... More
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.”
UnionPay reports 200m mobile payments users
There are now more than 200 million users of the UnionPay mobile payments app, the China-based payments network reports, and more than 3m merchants outside mainland China now accept UnionPay mobile payments... More
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.”
Ant Financial reports 1.2bn mobile wallet users
Alipay and its local e-wallet partners now collectively serve 1.2 billion users globally, Ant Financial has revealed, up 20% since the end of December 2018 and 260% over the past three years... More
China delays launch of digital currency
China has ‘no timetable’ for the launch of its digital currency, the governor of the country’s central bank has revealed... More
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.”
PBOC provides details on how China’s new digital currency will work
China’s central bank has released further details of its forthcoming digital currency — including the news that citizens will be able to use it to exchange money and make payments in an NFC-like manner... More
Researchers develop stretchable NFC antennas for clothing
A team of researchers from universities in the UK and China have developed a way to use standard machine embroidering equipment to add NFC capabilities to items of clothing so that the technology continues to work reliably even when the fabric is stretched out of shape by the wearer... More
China to begin issuing digital currency in November?
The People’s Bank of China (PBOC) is preparing to launch a central bank-backed digital currency on 11 November, according to a Forbes report — and is to kickstart usage by distributing it to UnionPay, Tencent, Alibaba and several Chinese banks in time for consumers to use it on Singles Day, the country’s busiest shopping day... More
Chinese airlines to offer NFC baggage tags at Beijing airport
China Eastern Airlines and China Southern Airlines are introducing NFC-enabled electronic baggage tags that let passengers check in their own luggage and then track its location on their mobile phones, China Daily reports... More