Citi and the Bank of Shanghai have teamed to streamline payments for visitors to China. The payments solution announced by the two banks Wednesday (Nov. 13) is designed for the Bank of Shanghai’s TourCard — a prepaid card created specifically for overseas travelers to make mobile payments in China —...
Retail sales made during China’s annual Singles’ Day shopping event reportedly slowed again this year amid the country’s economic challenges and consumer skepticism about retailers’ promotions. While eCommerce platforms used to see growth in the double digits during Singles’ Day, more recent estimates put those...
Mastercard’s third-quarter earnings results demonstrated that consumers are still spending, and sentiment is healthy amid a resilient labor market and the Federal Reserve’s September cuts to interest rates. CEO Michael Miebach said on a conference call with analysts: “On Halloween, well, there’s nothing spooky here.”...
Russian President Vladimir Putin reportedly said Thursday (Oct. 24) that there are no plans to create a new system for cross-border payments between BRICS countries. Speaking at a summit of BRICS countries — which include Brazil, Russia, India, China and South Africa — Putin said...
October 16, 2024
This week in artificial intelligence regulation finds China, India and the global banking sector grappling with the need for comprehensive AI regulation as the influence of technology grows. Experts emphasize the importance of balancing innovation with consumer protection, while financial institutions leverage AI to streamline compliance processes amid increasing regulatory pressures. As artificial intelligence continues […]
April 24, 2024
The clock is running out on TikTok’s U.S. ambitions. President Joe Biden on Wednesday (April 24) signed a bipartisan measure that gives TikTok’s owner, Chinese tech giant ByteDance, nine months...
March 25, 2024
Alan Marquard, head of transfer solutions at Mastercard, told PYMNTS that remittances are ripe for continued transformation — to digital channels, and to digital wallets, which make international fund flows...
July 19, 2023
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s...
November 19, 2024
Chinese tech giants are reportedly using Silicon Valley to recruit for their AI projects. Companies such as ByteDance and Alibaba have recently begun expanding their offices in California as they seek to poach workers from American competitors for their generative artificial intelligence (AI) efforts, the Financial Times reported Tuesday (Nov. 19). This push is happening […]
November 13, 2024
Citi and the Bank of Shanghai have teamed to streamline payments for visitors to China. The payments solution announced by the two banks Wednesday (Nov. 13) is designed for the Bank of Shanghai’s TourCard —...
November 11, 2024
Retail sales made during China’s annual Singles’ Day shopping event reportedly slowed again this year amid the country’s economic challenges and consumer skepticism about retailers’ promotions. While eCommerce platforms used...
October 25, 2024
Russian President Vladimir Putin reportedly said Thursday (Oct. 24) that there are no plans to create a new system for cross-border payments between BRICS countries. Speaking at a summit of...
