Category: Local Currency Transaction
UnionPay Signs 11 New Cross-Border Payment Deals in Global Push
China’s UnionPay signed 11 new cross-border payment agreements this week as Beijing’s global payments push continues to gather partners from Southeast Asia to Latin America. The signings were announced in Shanghai. The latest group includes PayNet and Hong Leong Bank ...
WeChat Pay Starts Using China’s Unified QR for Foreign Wallets
WeChat Pay’s international arm, Tenpay Global, is now integrated into China’s unified QR payment gateway, which has begun handling live cross-border traffic from overseas wallets. Regulators say the shift lets them see far more of the overseas wallet traffic moving ...
Indonesia Turns to China’s Yuan to Cut Reliance on the U.S. Dollar
China’s yuan is taking a larger role in Indonesia’s currency markets, as Bank Indonesia opens new yuan-denominated monetary operations. This new facility aims to reduce reliance on the U.S. dollar. It also aim to support the fast-growing use of local currencies in trade with China.