April Wu

China Market Strategy

December 23, 2015

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Banking News This Week – Dec 23

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

1 – Vietnamese banks could be taken over by regional big banks

When the ASEAN Economic Community takes effect, Vietnam will have to allow up to 70 percent of foreign ownership ratio in Vietnamese banks. >>

2 – Vietnam : Commercial banks rush to enter retail services

Banks in the last three years have rushed to provide retail banking services, encouraged by the increased spending of middle-class income earners. Fifty-three percent of the 95 million population are of working age. >>

3 – Mobile payments may make their impact on business

According to Gartner, half of consumers in developed economies such as North America, Western Europe and Japan will use smartphones or wearable technologies to make payments by 2018. >>

4 -China Unionpay partners with banks on mobile payments

China Unionpay, the country’s dominant card-payment processor, launched a mobile payment service called Quickpass with over 20 of the country’s banks. >>

5 – Apple Bringing Apple Pay to China With UnionPay

With a new electronic-payments deal, Apple Inc. and China’s state-run bank-card giant are trying to catch up in a market where such services have already taken off. >>

Also worth reading:

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