Asia

India has taken a hard line on cryptocurrency, but other blockchain payments innovation is thriving.

Long overshadowed by food delivery startups such as Uber Eats and on-demand delivery service players such as Postmates, delivering fuel to a consumer’s vehicle is a convenience service that is growing in the U.S. and other markets.

Brexit seems more likely than ever, as the U.K.'s new prime minister, Boris Johnson, has committed to meeting the October 31 deadline for a deal to leave the EU. But despite the lingering uncertainty over how that will happen, Mastercard is not abandoning its bullish stance on Europe.

One year out from hosting the Summer Olympics, Japan’s merchant base has a low ratio of contactless acceptance compared with other major markets.

Russia and its BRICS partners are developing cross-border alternatives to U.S.-dominated payments systems such as Swift, driven by the rise in cross-border trade and a desire to find non-dollar alternatives to international payments systems vulnerable to sanctions by the U.S. government.

Swift completed a seven-country trial of its cross-border GPI Instant payment service resulting in the successful integration with Singapore’s domestic instant payment network FAST.

The system has made it easier for mobile wallets and other technology providers to enter India's payments market, and will push the next steps toward real-time payments and cash reduction, says Somya Patnaik, senior product manager at ACI Worldwide.

Transit systems are attracting contactless payment technology, but there are other options on the horizon that could make boarding easier than tapping a card or smartphone — provided riders are comfortable with an experience like something out of Minority Report.

Indian consumers and businesses would be best served if New Delhi confined itself to discrete interventions to reduce structural barriers to payments competition, rather than imposing price controls, dispensing subsidies and promoting national favorites, says Eric Grover, a principal at Intrepid Ventures.

Merchants outside of China who have the QR code technology to accept Alipay and WeChat Pay are part of a growing trend to serve Chinese tourists who are comfortable paying via their smartphones.