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

Tencent reports 100 million transit ticketing mini-app users

100 million transit riders are paying with WeChat mini-program: Tencent — Caixin Global — “Ride Code allows subway and bus riders to pay for transit fares with QR codes directly upon boarding in various Chinese cities. At subway stations, that means showing your barcode at the turnstile. Riders do not need to visit ticket kiosks as the fare is deducted from their WeChat Pay wallet.”



Transit Ticketing Today

UK upgrades to smart rail tickets, looks to introduce innovative new types of fare

Mobile phone and smart ticketing reader

Smart ticketing has been introduced for passengers using major railway stations in the UK. The move sees travellers at all major stations across Britain, including London Waterloo, Brighton, Gatwick Airport, Edinburgh Waverley and Glasgow Central, able to store tickets securely on their mobile phone, on a smart card or in a printable email. More