of Chinese consumers use major mobile wallets Alipay or WeChat Pay as their primary payment method. That's causing banks and card networks like UnionPay — despite its massive reach — to miss out on massive transaction volume going through mobile wallets they don't get a cut of. Further, some analysts
third-party platforms to earn up to 40% of China's transaction fee revenue by 2020, which would exacerbate the threat of consumers' preference for mobile wallets among both existing players and incoming card networks.1. Sign up for the Payments Briefing to get it delivered to your inbox 6x a week. >>pass to Business Insider Intelligence and gain immediate access to the Payments Briefing, plus more than 250 other expertly researched reports.
So they’re allowed to issue credit to our consumers but we can’t issue it to their 1 billion plus consumer base? I might not agree with Trump on everything but he came at the right time on some issues.
Mao-Largo..
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China pledges to expand financial market opening as U.S trade delegation arrivesChina will sharply expand market access for foreign banks and securities and ins... What are they pledging for when the USA (who owes China a shitload of money - along with Japan btw), when the USA goes tits up in an estimated 5 years time, you know, as the USA debt is spiralling upwards every second and shows no sign of easing. They have been pledging for 20 years... at what point do you say put up, or shut up? Why is this news the carrot on a stick reporting? Just don’t ask about Uighur concentration camps
Source: Reuters - 🏆 2. / 97 Read more »
China is lulling the market into a false sense of securityRecent positive economic data from China is signaling a recovery from last year's downturn, but that recovery is unsustainable.
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China's stock market is up 27% this year, giving it new leverage in trade talksWhen the U.S. escalated the trade war with China last September, China's economy was struggling and its stock market was in a deep slide. I thought China was losing. 🤷♂️🤔 Does that mean China can get more out of a deal and not have to settle for just anything The stockholders are told what to do by Beijing. When they want it to go up, it goes up. No leverage here.
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