Amazon may provide Mexico with a government-backed mobile payment system

TwitterFacebook

Mobile payments may soon be coming to Mexico, courtesy of Amazon.

Mexico’s central bank, Banxico, is currently in talks with Amazon to developer a mobile payment system backed by the country’s government. The payment system, known as CoDi, would allow customers to pay for purchases, both online and in-person, using QR codes on their smartphones.

As Reuters points out in its report, more than half of Mexico’s population does not have a bank account. Banxico is looking to change this with CoDi.

According to market research firm Euromonitor International, less than 4 percent of total retail sales in Mexico came from ecommerce last year. The QR code-powered mobile payment service would be free of charge to use, which should help spur growth in the country’s online shopping sector. Read more…

More about Amazon, Mexico, Mobile Payments, Tech, and Consumer Tech

View More Amazon may provide Mexico with a government-backed mobile payment system

Alibaba hits the gas on mobility as its bike sharing service adds carpooling

Carpooling is heralded to be environmentally friendly and money-saving, but in smog-stricken China, the transportation option became a source of public concerns after two female passengers got murdered during their lifts with Didi Chuxing drivers. The ride-hailing app has suspended its Hitch service to this date under government command, and its peers were also directed […]

View More Alibaba hits the gas on mobility as its bike sharing service adds carpooling

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

Ant Financial, the financial services behemoth affiliated with Chinese e-commerce giant Alibaba, has made its first big move into Europe. It’s acquired London-headquartered payments company WorldFirst in a deal that sources tell us is valued at around $700 million. (That price would also line up with multiple reports from December claiming the two were in […]

View More Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

China’s Alipay digital wallet is entering 7,000 Walgreens stores

China’s payments heavyweights have been following tourists abroad as their home market gets crowded. Ant Financial, Alibaba’s financial affiliate with a said valuation of $100 billion, now sees its virtual wallet Alipay handling transactions at 3,000 Walgreens stores in the U.S. and is eyeing to reach a roster of 7,000 locations by April. The alliance will […]

View More China’s Alipay digital wallet is entering 7,000 Walgreens stores

PayPal shutters Malaysia office as part of customer service reorg

Payment giant PayPal has closed its office in Malaysia as part of a restructuring of its customer support teams. The office, located in capital city Kuala Lumpur, was home to a team of customer service agents that catered to PayPal users across Asian region and beyond. Now, its responsibility will be assumed by other offices, […]

View More PayPal shutters Malaysia office as part of customer service reorg

Chat app Line injects $182M into its mobile payment business

Japanese messaging app company Line is pumping 20 billion JPY ($182 million) into its mobile payment business as it tries to turn things around following a challenging year in 2018. The company announced the infusion into Line Pay, a subsidiary that it fully owns, in a filing which stated that the new capital is “necessary […]

View More Chat app Line injects $182M into its mobile payment business

Chat app Line’s mobile payment service is getting its own Visa card

Brown, Cony and the gang are coming to a credit card near you in Japan. Line, the messaging app company behind the cute sticker characters, announced today that it is bringing its payment service to plastic through a tie-in with Visa. Line is Japan’s largest chat app with an estimated 50 million registered users. The cards […]

View More Chat app Line’s mobile payment service is getting its own Visa card

Alibaba’s alternative to the app store reaches 230M daily users

WeChat isn’t the only one doubling down on lite apps. Ever since China’s messaging titan introduced “mini programs” two years ago, a handful of its peers including Alibaba and Baidu have followed with their own manifestations. Alipay, the payments solution affiliated with China’s ecommerce juggernaut Alibaba, today announced it surpassed 230 million daily active users and […]

View More Alibaba’s alternative to the app store reaches 230M daily users

WeWork could challenge Starbucks in China with new on-demand service

The rise of Starbucks in China, like that in the west, is closely linked to its function as a “third space” for people to hang out between home and work. In recent years, a bevy of coffee entrepreneurs are trying to topple the American giant’s dominance in China and lately, an unexpected contender — WeWork […]

View More WeWork could challenge Starbucks in China with new on-demand service

Apple Pay is coming to Target, Taco Bell, Speedway and two other U.S. chains

A little more retail momentum for Apple Pay: Apple has announced another clutch of U.S. retailers will soon support its eponymous mobile payment tech — most notably discount retailer Target. Apple Pay is rolling out to Target stores now, according to Apple, which says it will be available in all 1,850 of its U.S. retail […]

View More Apple Pay is coming to Target, Taco Bell, Speedway and two other U.S. chains

WeChat is quietly ranking user behavior to play catch-up with Alibaba

Over one billion people leave behind trails of information on WeChat every day as they use the messenger to chat, read, shop, hail rides, rent umbrellas and run many other errands. And the Tencent app has quietly started using this type of signal to determine whether a user is worthy of perks such as deposit-free […]

View More WeChat is quietly ranking user behavior to play catch-up with Alibaba

The next phase of WeChat

Thousands of people gathered Wednesday night in a southern Chinese city for Zhang Xiaolong, Tencent’s low-key executive who built WeChat eight years ago. It’s no longer adequate to call the app a messenger, for it now enables myriads of functions that infiltrate Chinese people’s private and public lives. It wasn’t just the tech circles tuning […]

View More The next phase of WeChat