Asia

The Commonwealth Bank of Australia money-laundering scandal has damaged the public's perception of the whole banking sector, according to the head of the industry's lobby group.

Mastercard and Visa have also opened development centers in India, where digital payments are growing quickly.

Alipay and WeChat Pay have become important drivers in the Chinese economy, putting the central bank in a position to force all third-party payment firms to connect to the new clearinghouse.

Bank of America Merrill Lynch is launching a payments collection platform that helps users manage mobile wallets and card payments in China through an arrangement with China UnionPay Merchant Services.

China’s fastest-growing online industry segment in the first half was food delivery, as startups backed by Tencent Holdings Ltd. and Alibaba Group Holding Ltd. touted discounts and marshaled armies of people to get restaurant meals to the homes of almost 300 million.

Germany-based Payworks is the latest to partner with Ant Financial’s Alipay as it works to expand the base of merchants capable of accepting the popular Chinese online and mobile payments app in Europe.

In the next phase of India’s push to diminish the country’s heavy reliance on cash, the Reserve Bank of India has approved the rollout of a national electronic bill-payment system.

Next month, India Prime Minister Narendra Modi’s government will begin amassing a warehouse of virtual information collected not just from traditional sources like banks but also from social media sites, as it looks to match residents’ spending patterns with income declarations, said people familiar with the matter.

At least one winner has emerged from India’s crackdown on so-called black money: the country’s richest banker.

Starbucks has hit a mobile payments milestone, with 30% of all U.S. transactions now coming through mobile, and to smooth operations surrounding its popular Mobile Order & Pay service, the company is introducing digital-ordering specialists at its busiest stores.