Asia

Commonwealth of Australia (CBA) reports digital wallet users spent a AUS$1 billion (about $630 million) in March 2020, a high for the bank that's part of an acceleration to digital wallets and contactless cards during the coronavirus crisis.

Huawei Pay hopes to benefit from UnionPay's network and scale as it launches in Singapore, a market that already has several large mobile pay apps including Apple Pay.

The coronavirus pandemic has forced Irish fintech Prepaid Financial Services Limited (PFS) to drop its sale price by $117 million to close its deal with EML payments Limited.

Japanese digital wallet provider Kyash has raised $45 million in a fundraiser to expand its mobile offerings to help Japan convert to a cashless society during the coronavirus outbreak.

TransferWise has partnered with Alipay to expand money remittance options for its users to instantly send Chinese yuan to friends and family in China.

SBI Cards & Payment Services Ltd. declined in its stock market debut as investor uncertainty stemming from the coronavirus pandemic cast a shadow over the listing of India’s first pure-play credit card issuer.

Australia’s Airwallex group is seeking about $200 million in a series D equity funding round to bankroll its cross-border payments business globally, according to people familiar with the matter.

Just two months after UnionPay bolstered its support of QR code payments in China through an arrangement with Tencent Holdings Ltd., the company is working with Network International to initiate its first pilot for QR code payments at a merchant location in the UAE.

Alipay, the mobile payment app owned by billionaire Jack Ma, is stepping up its competition with WeChat to get more of its 900 million users to tap expanded services in everything from real estate purchases to restaurant and cinema bookings.

Alibaba Group Holding Ltd.’s parcel and meal delivery arms have returned to pre-coronavirus outbreak staffing levels, the latest example of how China’s largest corporations are getting back to work after Beijing’s entreaty to safeguard economic growth.