April Wu

China Market Strategy

December 10, 2014

  • Share by Email
  • Tweet This
  • Share on Google+
  • Share on Facebook
  • Share on LinkedIn
  • Tweet This

Banking News This Week – Dec 10

The top 5 banking news stories in emerging markets this week.

1 – Entry of foreign banks seen next year

Several foreign banks are expected to apply for entry in the Philippines before year-end or early 2015 following the release of the implementing rules and regulations of the amended foreign banks law, the Bangko Sentral ng Pilipinas (BSP) chief said. >>

2 -Mobile point of sale can power economies in emerging markets

Much in the same way emerging market consumers have eschewed landlines and wired networking infrastructure for mobile connections, we are seeing emerging market merchants go straight from cash boxes to mobile POS (mPOS) solutions. >>

3 – Savvy shoppers do it online

The survey, which targeted South Africans aged between 18 and 64 who have bank accounts and access the internet at least once a week, showed that 40 percent of respondents were sufficiently concerned about the safety of online transactions that they had not shopped online during the previous three months. >>

4 -54% of Alipay transactions take place on smartphones as China’s banking goes mobile

Alipay has announced that mobile transactions accounted for 54 per cent of the firm’s business in the first ten months of 2014. >>

5 -Bank of China to Offer Western Union Money Transfer Service

The Western Union Company, a leader in global payment services, and Bank of China Limited announced today that the bank will offer Western Union Money Transfer services at its branches and sub-branches throughout mainland China. >>

Also worth reading:
(Video)Doing Business In Emerging Markets – Banking Sector
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia