Latest news with #mobilewallets
Finextra
04-07-2025
- Business
- Finextra
Are Mobile Wallets the Future of Cross-Border Payments Modernization?
Speaking to FinextraTV while attending Money 20/20, Stanley Wachs, Director of Business Development and Head of France, Benelux, Switzerland, and Africa at Dandelion Payments, shared his thoughts on how mobile wallets are impacting the modernization efforts of banks and fintech's. Wachs positions mobile wallets as a key component of the future of cross-border payments and of progressing the modernization of payment infrastructure.
Yahoo
24-06-2025
- Business
- Yahoo
WeChat Pay and Alipay Extend Their Reach Across 20+ Countries
The 2025 report unveils China's leadership in mobile wallet adoption, AI innovation, and cross-border expansion, with giants like Alipay, WeChat Pay, and Alibaba redefining digital finance. Highlights include China's e-CNY dominance, global partnerships, and strategic insights for firms in emerging markets. Dublin, June 24, 2025 (GLOBE NEWSWIRE) -- The "China Payments & E-Commerce 2025: Strategic Insights for Global Leaders" report has been added to offering. Drawing from the latest 2025 data, the report highlights China's continued leadership in mobile wallet adoption, cross-border integration, and AI-driven platform innovation. The findings reveal how dominant players such as Alipay, WeChat Pay, and Alibaba are not only reshaping China's domestic market, but also extending their influence globally through strategic partnerships, AI integration, and digital finance innovation. China is no longer just a domestic digital powerhouse - it is setting benchmarks that the rest of the world is watching. Our latest report offers essential strategic context for global companies navigating the convergence of payments, e-commerce, and AI in one of the most complex and dynamic markets. Key insights from the report include: Mobile wallets now account for the vast majority of digital transactions in China, driven by integrated ecosystems combining payments, social media, shopping, and public services. Alibaba and have invested heavily in AI infrastructure and instant delivery, with Alibaba's 88VIP loyalty program surpassing 50 million members. The digital yuan (e-CNY) has reached over USD 7.3 trillion in cumulative transaction volume, now used across more than 29 cities, including for transport, healthcare, and public services. WeChat Pay and Alipay are expanding internationally, with mobile payments accepted across 20+ countries through partnerships with platforms like Stripe. China's 2025 digital finance reforms are reshaping the ecosystem, targeting platform interoperability, data transparency, and enhanced consumer protection. Questions Covered What is the projected total volume of non-cash transactions in the Asia-Pacific region by 2028? What major digital investment has Alibaba committed to by 2028? How is AI reshaping China's digital payment platforms? What is the projected value of China's payments market by 2030? Which payment method accounted for over a quarter of Asia-Pacific's transactions in 2023? How has Generation Z influenced payment behaviour in China Company Coverage: Agricultural Bank of China American Express Apple China Construction Bank DeepSeek ICBC Mastercard Meta Moonshot AI Payoneer Stripe Taobao Tencent Tmall Visa WeChat Zoho Key Topics Covered: 1. Key Takeaways 2. Management Summary 3. Asia-Pacific Non-Cash Payments and Revenue Outlook Total Non-cash Transactions Volume, in volume billions, 2018 & 2021 - 2024e & 2028f Total B2B Non-cash Transactions Volume, in volume billions, 2018 & 2021 - 2024e & 2028f Payments Revenue Value, in USD trillion, 2013, 2018, 2020 - 2023 Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023 Payment Mix of New vs Traditional Payments, in % of Transaction Volume, 2023 Share of Payment Revenue Value, in %, 2027f 4. China: E-Commerce and Digital Payments Landscape 4.1. B2C E-Commerce Market Overview Number of Internet Users, in millions and Internet Penetration, in %, December 2020 - December 2024 Number of Online Shoppers, in millions, and Internet Penetration, in %, December 2020 - December 2024 Share of Online Physical Goods Sales, in % of Total Retail Sales of Consumer Goods, Q1 2025 Breakdown of Total Internet Users by Urban & Rural Areas, in %, Dec. 2023 & Dec. 2024 Top 5 Global Origins for Cross-Border Online Purchases, % of International Shoppers, 2024 Share of International Cross-Border Online Purchases, in %, 2018-2024 Top 3 Source Markets for Most Recent Cross-Border Online Purchase by Chinese Shop., in %, 2024 Willingness to Purchase Luxury or Designer Products Online Without Seeing Them First, in %, 2024 4.2. Leading Platforms and Payment Ecosystems in China Overview of Alibaba's AI Investment Strategy and Platform Integration, June 2025 WeChat Pay Availability on Alibaba's Taobao and Tmall Platforms, June 2025 Taobao and Tmall's Membership Strategy, AI Marketing, and Revenue Drivers, June 2025 Generative AI, Retail Productivity, Consumer Insights, Strategic Adaptation, June 2025 AI-Powered Advertising Strategies of Alibaba, Tencent, and May 2025 Alipay Tap!'s User Growth, Ecosystem Investment, and AI-Driven Healthcare Expansion, June 2025 BNPL Market Growth, Key Platforms, and Sectoral Integration, June 2025 4.3. Digital Consumer Trends and Payment Preferences in China Number of Mobile Internet Users, in million, and Penetration, in % of Internet Users, December 2020 - December 2024 Number of Livestream Users, in million, and Penetration, in % of Internet Users, December 2020 - December 2024 Share of New Internet Users by Age Group, in %, H1 2024 Mobile Wallet Penetration and Shifting E-Commerce Payment Preferences, June 2025 Functional Use of Generative AI Shopping Tools Among Early-Adopting Consumers, August 2024 Shifting Habits, Rising Spending, and Tech-Driven Convenience, June 2025 4.4. Innovation and Regulation Shaping China's Digital Payment Future Rise of e-CNY and WeChat Pay in Reshaping Global Payment Ecosystems, June 2025 Yuan Internationalization, Cross-Border Payment Infrastructure, and Outbound Tourism, June 2025 Antitrust Enforcement, Financial Data Flow Guidelines, and Online Identity Regulation, June 2025 Digital ID Reforms and their Implications for E-Commerce and Payments, June 2025 4.5. China's Online Payment Landscape: Methods, Usage, and Growth Forecasted Payment Market Size, in USD trillions, 2025e & 2030f Share of Consumer Transactions by Payment Method, in %, 2024 Share of Consumers Using WeChat Pay Daily, in %, 2023 WeChat Pay & Alipay Market Share in % and Ecosystem Penetration in Mobile Payments, 2023 Mobile Wallet Penetration among Adult Consumers, in %, Q2 2023 Mobile Wallet Ownership and Usage, in %, Q2 2023 Mobile Wallet Penetration, Digital Infrastructure, and Consumer Adoption, June 2025 Development of Online Payment Usage and User Penetration, December 2020 - December 2024 Card Transaction Value, in USD trillion, 2024 & 2028f Debit Card Transaction Value, in CNY trillions, 2020 - 2028f Credit and Charge Card Transaction Value, in CNY trillions, 2020 - 2028f Growth of Cross-Border Payments via Acquisitions and Global Partnerships, June 2025 Alipay and WeChat Pay Global Expansion and Cross-Border Usage Trends, June 2025 5. Conclusion: Strategic Evolution of China's Digital Payment Landscape in 2025 For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
13-06-2025
- Business
- Finextra
Cross-border Operations: The Cost of Doing Nothing is Higher
In the middle of a busy EBAday 2025, Anastasia Serikova, VP, Head of Visa Direct Europe, Visa joined the FinextraTV studio to discuss current models within cross-border operations. Listing some of the alternative options to enable financial inclusion - mobile wallets, local currencies etc - Serikova explains the way that cross-border solutions are growing and giving more organisations the capability to participate. Amidst such innovation, she says, the cost of doing nothing is higher than the cost of the project itself.
Finextra
12-05-2025
- Business
- Finextra
DBS adds mobeil wallet security feature
In an effort to combat the rise of mobile wallet phishing, DBS Bank will launch a new 'Mobile wallets' feature within DBS/POSB digibank app's Payment Controls, preventing scammers from adding phished card details to their mobile wallets. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Payment Controls – located within the DBS/POSB digibank app – allows customers to self-manage their card transaction limits in real-time. Customers can use these controls to protect themselves from unauthorised transactions when their card is misplaced, stolen or misused. This includes disabling e-commerce or cash advance transactions, locking the card, among others. From mid-May 2025, customers will not be able to add DBS/POSB cards to their mobile wallets until they turn on the new 'Mobile wallets' toggle in Payment Controls. The 'Mobile wallets' feature is turned off by default and customers will need to first turn on the 'Mobile wallets' toggle before adding their cards. Using the 'Mobile wallets' in-app control introduces a deliberate pause in the transaction process, allowing users to verify their intention to add their card to a mobile wallet. The new 'Mobile wallets' feature is the latest addition to the bank's suite of self-managed security control features in the DBS/POSB digibank app. DBS was the first bank in Singapore to introduce the most comprehensive set of payment controls and has continued to maintain that leading position since 2021. To date, over 1.5 million users have adopted DBS' self-managed security tools that also include DBS' money lock feature (digiVault) and security checkup. Calvin Ong, DBS Head of Consumer Banking Singapore said, 'Along with the Singapore Police Force (SPF), the Cyber Security Agency of Singapore (CSA) and the Monetary Authority of Singapore (MAS), DBS has also observed a rise in mobile wallet phishing incidents, where scammers target customers' cards to add to their mobile wallet for subsequent unauthorised transactions. As part of the industry's initiative to address this issue, DBS has introduced a new 'Mobile wallets' feature to verify our customers' intention to add their card to a mobile wallet. By introducing the deliberate pause, we enable customers to be alert when performing transactions.' Customers should add only their own cards to their mobile wallets. If they are unfamiliar with mobile wallets, they should consult their family or call the ScamShield Helpline (1799) for assistance. 'Joint vigilance with our customers is essential to combating scams and we will continue to expand our suite of self-managed security features, as well as anti-scam educational resources and community events, to empower our customers to take control of their security,' added Ong. SPF, CSA and MAS have been working with banks, mobile wallet providers, and card service providers to combat this trend. According to the Singapore Police Force, there were over 650 reports of phished card credentials being added to mobile wallets in the last three months of 2024, resulting in at least SGD 1.2 million in losses from transactions made on scammers' mobile wallets. How DBS/POSB's Mobile wallets security feature works The 'Mobile wallets' feature in Payment Controls is turned off by default to ensure customers' cards cannot be added to mobile wallets. Customers who wish to add their DBS/POSB card must first turn on the 'Mobile wallets' toggle in Payment Controls within the DBS/POSB digibank app. To further protect users, this 'Mobile wallets' feature will be automatically turned off if the card is not added to any mobile wallet within 10 minutes. DBS enhances the anti-scam security features of its digibank app Greater convenience for DBS digiVault: Since October last year, customers can instantly lock funds and prevent digital transfers from their accounts via the DBS/POSB digibank app, or digibot on the DBS/POSB website. The funds can then be unlocked at over 1,200 ATMs island-wide in addition to the bank's branches. Customers will continue to earn the same interest on their locked savings and fixed deposits. More capabilities for DBS anti-malware tool for Android devices: The digibank app's anti-malware tool for Android devices will alert users when the app is being remotely controlled by another device or when the Android device's USB/wireless debugging setting is enabled. When the USB/wireless debugging setting in the Developer Options is turned on, scammers can remotely control a user's Android device without their knowledge, steal sensitive information such as passwords and access the user's digibank app. Users will also be cautioned by the anti-malware tool when screen-sharing or mirroring is enabled on their Android device. Creating a robust anti-scam ecosystem with partners and customers DBS works closely with key partners including the SPF, Infocomm Media Development Authority (IMDA) and the CSA to co-create educational anti-scam content (e.g an anti-scam quiz) and extend its reach to a wider audience through digital literacy roadshows and street performances ('getais') in the heartlands. In 2024, DBS conducted over 300 anti-scam and digital literacy workshops, reaching 90,000 Singaporeans and residents. The bank also launched its new Bank Safely Hub last year to help the public stay informed about scams by featuring essential scam alerts, educational materials and resources. Since January 2025, DBS has held POSB neighbourhood getai events and POSB SG60 neighbourhood carnivals in Bedok, Eunos, Tiong Bahru and Punggol, where residents were trained to use DBS security tools including Payment Controls, digiVault and security checkup. DBS has plans to continue to roll out these activities this year. DBS has a multi-layered defence against scams which combines real-time fraud surveillance, advanced security infrastructure and customer education. Furthermore, DBS continues to deploy dedicated personnel who are embedded within the SPF's Anti-Scam Centre, performing real-time transaction monitoring and immediate intervention against suspicious activities.
FF News
12-05-2025
- Business
- FF News
DBS Introduces New 'Mobile Wallets' Security Feature to Further Protect Customers From Phishing Frauds
In an effort to combat the rise of mobile wallet phishing, DBS Bank will launch a new 'Mobile wallets' feature within DBS/POSB digibank app's Payment Controls, preventing scammers from adding phished card details to their mobile wallets. Payment Controls – located within the DBS/POSB digibank app – allows customers to self-manage their card transaction limits in real-time. Customers can use these controls to protect themselves from unauthorised transactions when their card is misplaced, stolen or misused. This includes disabling e-commerce or cash advance transactions, locking the card, among others. From mid-May 2025, customers will not be able to add DBS/POSB cards to their mobile wallets until they turn on the new 'Mobile wallets' toggle in Payment Controls. The 'Mobile wallets' feature is turned off by default and customers will need to first turn on the 'Mobile wallets' toggle before adding their cards. Using the 'Mobile wallets' in-app control introduces a deliberate pause in the transaction process, allowing users to verify their intention to add their card to a mobile wallet. The new 'Mobile wallets' feature is the latest addition to the bank's suite of self-managed security control features in the DBS/POSB digibank app. DBS was the first bank in Singapore to introduce the most comprehensive set of payment controls and has continued to maintain that leading position since 2021. To date, over 1.5 million users have adopted DBS' self-managed security tools that also include DBS' money lock feature (digiVault) and security checkup. Calvin Ong, DBS Head of Consumer Banking Singapore said, 'Along with the Singapore Police Force (SPF), the Cyber Security Agency of Singapore (CSA) and the Monetary Authority of Singapore (MAS), DBS has also observed a rise in mobile wallet phishing incidents, where scammers target customers' cards to add to their mobile wallet for subsequent unauthorised transactions. As part of the industry's initiative to address this issue, DBS has introduced a new 'Mobile wallets' feature to verify our customers' intention to add their card to a mobile wallet. By introducing the deliberate pause, we enable customers to be alert when performing transactions.' Customers should add only their own cards to their mobile wallets. If they are unfamiliar with mobile wallets, they should consult their family or call the ScamShield Helpline (1799) for assistance. 'Joint vigilance with our customers is essential to combating scams and we will continue to expand our suite of self-managed security features, as well as anti-scam educational resources and community events, to empower our customers to take control of their security,' added Ong. SPF, CSA and MAS have been working with banks, mobile wallet providers, and card service providers to combat this trend. According to the Singapore Police Force, there were over 650 reports of phished card credentials being added to mobile wallets in the last three months of 2024, resulting in at least SGD 1.2 million in losses from transactions made on scammers' mobile wallets. How DBS/POSB's Mobile wallets security feature works The 'Mobile wallets' feature in Payment Controls is turned off by default to ensure customers' cards cannot be added to mobile wallets. Customers who wish to add their DBS/POSB card must first turn on the 'Mobile wallets' toggle in Payment Controls within the DBS/POSB digibank app. To further protect users, this 'Mobile wallets' feature will be automatically turned off if the card is not added to any mobile wallet within 10 minutes. DBS enhances the anti-scam security features of its digibank app Greater convenience for DBS digiVault: Since October last year, customers can instantly lock funds and prevent digital transfers from their accounts via the DBS/POSB digibank app, or digibot on the DBS/POSB website. The funds can then be unlocked at over 1,200 ATMs island-wide in addition to the bank's branches. Customers will continue to earn the same interest on their locked savings and fixed deposits. More capabilities for DBS anti-malware tool for Android devices: The digibank app's anti-malware tool for Android devices will alert users when the app is being remotely controlled by another device or when the Android device's USB/wireless debugging setting is enabled. When the USB/wireless debugging setting in the Developer Options is turned on, scammers can remotely control a user's Android device without their knowledge, steal sensitive information such as passwords and access the user's digibank app. Users will also be cautioned by the anti-malware tool when screen-sharing or mirroring is enabled on their Android device. Creating a robust anti-scam ecosystem with partners and customers DBS works closely with key partners including the SPF, Infocomm Media Development Authority (IMDA) and the CSA to co-create educational anti-scam content (e.g an anti-scam quiz) and extend its reach to a wider audience through digital literacy roadshows and street performances ('getais') in the heartlands. In 2024, DBS conducted over 300 anti-scam and digital literacy workshops, reaching 90,000 Singaporeans and residents. The bank also launched its new Bank Safely Hub last year to help the public stay informed about scams by featuring essential scam alerts, educational materials and resources. Since January 2025, DBS has held POSB neighbourhood getai events and POSB SG60 neighbourhood carnivals in Bedok, Eunos, Tiong Bahru and Punggol, where residents were trained to use DBS security tools including Payment Controls, digiVault and security checkup. DBS has plans to continue to roll out these activities this year. DBS has a multi-layered defence against scams which combines real-time fraud surveillance, advanced security infrastructure and customer education. Furthermore, DBS continues to deploy dedicated personnel who are embedded within the SPF's Anti-Scam Centre, performing real-time transaction monitoring and immediate intervention against suspicious activities.
