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Mastercard NetsUnion processes first domestic China payments

Mastercard has processed its first payments in China through Mastercard NetsUnion, a joint venture between the US payments giant and the Chinese banking network. The...

Mastercard JV receives approval for domestic payments processing in China 

Mastercard’s joint venture (JV), Mastercard NUCC Information Technology (Beijing) Co. Ltd, has been approved to begin domestic bankcard clearing activity in China.  The approval was...

Global remittances to China at heart of Visa-Tencent partnership  

Visa has revealed a new partnership with Tencent Financial Technology to unlock inbound remittances for users of Weixin - the Chinese alternative to messaging...

Chinese firms offered incentives to move into new CBDC industrial park 

A new industrial park has opened in the Chinese district of Luohu, Shenzhen that will focus on developing Central Bank Digital Currency (CBDC) technologies.  The...

China reaches $250bn in CBDC transactions 

China has recently reached a financial milestone by surpassing $250bn (£196bn) in Central Bank Digital Currency (CBDCs) transactions. Reuters reported that this was revealed by...

Ant Group hit with $985m fine amidst China’s regulatory crackdown

China’s central bank has issued one of the country’s largest fines against fintech giant Ant Group over various financial regulatory violations.  Ant Group, subsidiary of...

Airwallex achieves ‘milestone’ China expansion

Airwallex has confirmed its expansion in China through securing a payment business license in the region. It comes following the successful acquisition of a 100%...

Paysera opens up new USD payments corridor to China

Fintech firm Paysera has confirmed the addition of a feature that allows businesses to buy goods, commodities and technology from China.  The payments can be...

Shanghai plotting a $52 billion dive into the metaverse

Shanghai plans to invest $52bn into the metaverse as the Chinese capital seeks to build a digital infrastructure for its tech industry.  Hoping to complete...

Xi Jingping approves development for a ‘healthy’ Chinese fintech space

Xi Jinping, China’s President, headed a meeting last Wednesday approving development plans for a ‘healthy’ fintech sector.  The meeting, centred around the commission for deepening...

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