DCA Strategy Sprint: Open Banking Twelve DCA members white-boarded the business opportunities created by open banking. On Wednesday, a dozen DCA member executives worked together to brainstorm and document the business opportunities that will be created by the full implementation of open finance principles.  Like our November Strategy Sprint on tech disruption, the session was an opportunity to look into...

China’s tourists spent $277 billion abroad in 2018. DCA’s February Expert Session explores how they will spend their money in 2023 and beyond.  Before the pandemic, China sent more tourists abroad than any other country.  With its borders open again, there are questions about how long it will take for China’s tourists to resume their travel and spending – but...

China’s Ant Group to Share Consumer Credit Data with Government Data generated by Ant Group’s popular consumer lending service, Huabei, will be integrated into the government’s credit-reporting system, the Wall Street Journal reported. The move is being made to put the payments tech giant in line with government regulators’ priorities. DCA Insight: Huabei users are being asked permission to share...

Paypal Buys Japan-Based Paidy for $2.7 Billion US payments giant PayPal is acquiring Paidy, a Japanese buy-now, pay-later (BNPL) firm, for $2.7 billion. The acquisition points to PayPal’s intent to continue to lead in a payments industry thriving during the pandemic. DCA Insight: This deal is PayPal’s foray into yet another new market. The company entered Australia last year, and...

South Korea Mandates Alternative App Payments For Apple And Google Google and Apple Inc. are required to open their app stores to alternative ways to pay in South Korea. The new legislation is the first of its kind worldwide, enacted to curb tech giants’ control over which payment apps consumers can use. DCA Insight: Watch for this move to lead...

Alibaba Upended by Upstart PinDuoDuo Pinduoduo Inc., a five-year-old e-commerce app based in China that turns shopping into a game, has surpassed Chinese e-commerce giant Alibaba in terms of users. Pinduduo ended 2020 with 788.4 million users compared to Alibaba’s 779 million. DCA Insight This news shows how quickly e-commerce supremacy can be upended and is a lesson for large...

The US president signed an executive order yesterday banning US transactions with Chinese apps, including Alipay, owned by Ant Group Co., and WeChat, held by Chinese tech giant Tencent. The order takes effect in 45 days after the end of the current administration. The administration claims the apps access private information from US users that can be used by the...

The world’s largest initial public offering has been disqualified by Chinese regulatory agencies. Fin-tech giant Ant Financial Group’s controlling shareholder Jack Ma and two other top executives got the news from Chinese regulators today. As a result, The Shanghai Stock Exchange suspended the IPO, which was scheduled for Thursday. A concurrent Hong Kong listing will also be suspended. The halted...

New Clean Way to Pay: Mobile Wallets Surge on Covid 19 Fears Requiring no physical contact with merchant point-of-sale terminals, mobile wallets are increasingly viewed as a safer way to pay by consumers around the world. Fears that payment cards, cash and coins may be tainted with the coronavirus, and that touching in-store terminals might make shoppers sick, the use...

Expect the Unexpected in Covid-19’s Wake In the uncertainty that surrounds the coronavirus, Silvio Tavares, CEO of industry trade association Cardlinx, shared perspectives with member executives around the world. Among topics discussed? Travel’s stalled, with hotel occupancy at just 15% and properties slated to close; credit card use is down, impacting the U.S. and other countries where consumer spending accounts...

By Silvio Tavares, CEO, The CardLinx Association At a time like this, when our personal lives and professional lives are unexpectedly upended, it‘s tough to stay optimistic—and not lose sight of unseen opportunities. As we witness the enormous scale of death, sickness and suffering caused by Covid-19, it can be difficult to see the silver lining. But it is often...

We welcome YouWorld to The CardLinx Association. YouWorld is a tech-solution provider which drives foot traffic and sales to stores by enabling customers to purchase e-gift cards using their native mobile payment and currency. YouWorld’s technology allows easy implementation of Chinese mobile payments, requires no workflow changes for retailers, and ensures zero fraud. Its estimated reach is around 10 million...