Asia

On the heels of India’s move last month to discourage cash-hoarding by demonetizing certain bills, Prime Minister Narenda Modi on Dec. 30 announced the rollout of a government-managed mobile payments app.

Pax Global Technology has landed what it describes as a major deal to distribute its payment terminals to Chinese merchants through China UnionPay Merchant Services [UMS].

Payments software provider Ezetap says an agreement with Pax Global Technology Ltd. will bring "hundreds of thousands" of mobile and mini point-of-sale terminals to India as the country lessens its use of cash.

An agreement between First Global Data and India's Metro Infrasys will bring a one-click mobile payment option to drivers using the country's tollways.

In another move that furthers India's movement away from cash, police in Pune plan to initiate a cashless policy by the end of the first week of January.

Australia’s central bank is set to deploy a new, faster payments system enabling near real-time payments for consumers and businesses that will roll out in 2017.

Sydney-based Octet Finance, a provider of supply chain management and financing tools for small and midsize businesses, has formed an alliance with Mastercard enabling users to make cross-border payments using their existing Mastercard credit and debit card accounts via virtual card technology.

Alipay's fast growth is partly attributed to the huge size of the Chinese market, but it also deploys strategies that can serve as an example for mobile wallets in other parts of the world.

As global e-commerce proliferates, payment platforms are stepping up to cater to U.S. merchants eager to sell their wares in emerging markets. But there can be as many risks as there are opportunities when entering a new market.

Payments are inevitably merging with social media, but the mix comes with a clear and very public risk if not handled correctly.