Alibaba, Xiaomi team up on payments via wearables

Alibaba’s finance arm and fast-growing smartphone maker Xiaomi said today they are partnering to allow payments via wearable devices. The system works by linking Alibaba’s Alipay Wallet mobile app with Xiaomi’s Mi Band smart fitness bracelet to enable users to …

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China’s mobile payment GMV quadruples

China’s third-party mobile payment gross merchandising volume (GMV) expanded almost fourfold (391 per cent) last year to CNY5.99 trillion ($970 billion). After two years of explosive growth (700 per cent in 2013), Beijing-based iResearch predicts growth will start to slow …

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Naver Pay scheduled for release in June

South Korea’s top web portal Naver is joining the crowd moving into mobile payments, announcing plans to launch Naver Pay in June. The company, which owns Japan-based LINE, said the payment platform links a user’s Naver ID with his or …

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Samsung’s LoopPay move is more of a threat to Google than Apple – analysts

Samsung’s acquisition of LoopPay, marking the South Korean giant’s aggressive entry into the mobile payments market, poses more challenges to Google than Apple, argues Gilles Ubaghs, an Ovum senior analyst covering financial services technology. Since being set up in 2012, …

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Taiwan operators roll out NFC-based mobile payments

Taiwan’s mobile operators have jumped on board to support the country’s largest mobile commerce platform, which has the backing of 32 banks, three payment processing institutions and EasyCard. It also has had the support of Visa and Mastercard since early …

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Snapchat is latest messaging player into payments

Following the likes of Daum Kakao and LINE, Snapchat jumped into the payments market with a new service that allows its users to send and receive cash. The firm has partnered with mobile payments outfit Square to launch Snapcash — …

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Apple SIM could accelerate wireless industry disruption

A multi-operator capable SIM card included in Apple’s latest iPad range will give consumers the flexibility to switch between short-term plans with operators in the UK and USA. So far, AT&T, Sprint, T-Mobile and UK operator EE have confirmed participation with the initiative.

Apple launches new phones, watch and mobile wallet

Apple today announced an unprecedented range of additions to its product catalogue, including the iPhone 6, 6 Plus, Apple Pay and Apple Watch. The keynote session in Cupertino, California, saw the unveiling of new NFC mobile payment capabilities to be built as standard into the new models, and the launch of the Apple’s foray into the wearable technology space with Apple Watch, as widely anticipated.