Asia

Mastercard is making another run at getting a license to operate in China, though China's changing regulatory posture has created skepticism about its willingness to open its market.

Even though American Express received pre-approval to provide transaction settlement services in China more than a year ago, it is playing the waiting game to get those wheels in motion amid a fiery political climate.

Local payment methods cater to the technology and user-experience needs of specific regions, says Steve Villegas, vice president of partner management at PPRO.

India’s ICICI Bank is rolling out a loyalty program for consumers who regularly send remittances to India via the bank’s Money2India online platform and app.

The Chinese government is not formally considering Visa and Mastercard’s year-old application to process payments inside China, another signal of China’s almost constantly changing regulatory posture toward the American card brands.

As the payment industry continues to innovate and expand across borders, it increasingly will need to be mindful of data regulations requiring data localization that multiply the complexities and cost of creating a seamless data flow and user experience, Alston & Bird’s Richard Willis and Laura K. Song write.

British payments technology company Moorwand is offering the first UnionPay prepaid cards in the U.K. on its UPayCard branded prepaid platform, with a larger roll-out planned for consumers and corporations during the first quarter of 2019.

Dynamics has launched an interactive credit card with India's IndusInd Bank that allows consumers to choose between three different funding sources when making purchases: credit, points and installment payments.

Canaan Inc., China’s second-biggest maker of Bitcoin mining hardware, is considering listing in the U.S. after shelving plans for a Hong Kong initial public offering, people with knowledge of the matter said.

China’s expanding number of tourists is creating demand for more payment choices, and Wirecard hopes to tap into the growth with a prepaid card it’s developed with Ctrip, China’s largest travel agency.