21.11.30 Overseas Payment News
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Swedish payment platform Klarna launches “Pay Now” service in the United States
November 23 On Sunday, Swedish payment platform Klarna said it had launched its "Pay Now" service in the United States, allowing customers to pay in full at any online retailer whose payment gateway is listed as an option.
The company also plans to launch the Klarna card in the United States, rolling out its buy now, pay later (BNPL) service in the form of a physical card.
It is reported that Klarna is supported by international payment giant Visa, private equity firm Permira and venture capital firm Sequoia Capital, and is well-known in the United States for its "Pay in 4" service. The service allows purchases to be split into four interest-free payments, with users only paying once every two weeks.
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Boku, a global mobile payment company, announced its entry into the Thai market
Boku, a global mobile payment company, announced its entry into the Thai market. Thai mobile wallets TrueMoney and Rabbit LINE Pay will Join the company's mobile payments network, M1ST.
It is understood that M1ST includes more than 330 payment methods in 90 countries, reaching 5.7 billion payment accounts. In Thailand, M1ST covers more than 30 million consumer accounts.
According to J.P. Morgan, 82% of online sales in Thailand are conducted via mobile devices, with 23% of transactions using mobile wallets.
Thailand is one of the fastest growing mobile payment markets in the world, and Boku expects mobile wallet penetration to reach 63% by 2025. The penetration rate of credit cards is less than 10%.
For global merchants, the Thai market provides huge opportunities, with cross-border transactions in Thailand accounting for more than 50% of e-commerce spending. Thailand mobile wallet joins the M1ST network to help global retailers have the opportunity to reach Thai consumers.
Boku CEO Jon Prideaux said: “We are delighted that the addition of TrueMoney and Rabbit LINE Pay opens up channels for our merchants to reach millions of mobile consumers in Thailand.”
< p> 03Russian retailer X5 Group launches digital card payment
Russian retailer X5 Group recently announced that it will launch X5 digital card to enter the financial services market.
It is reported that in order to use the X5 digital card, customers need to update their current Pyaterochka membership card to a bank debit card. Its debit card will offer customers 2% cash back on purchases and interest rates of up to 8%.
X5 Group CEO Igor Shekhterman said that debit cards that combine loyalty points and banking functions will help increase customer stickiness.
X5 has more than 18,500 stores in Russia. Its entry into online delivery, financial services and media is all aimed at developing more customer groups, and its retail business remains the core driving force.
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About 70 Japanese companies will jointly test the launch of digital currency, including 3 large banks.
According to foreign media reports, a group of about 70 Japanese companies will jointly test the launch of digital currencies. The formed consortium, which includes three major banks, will begin testing a digital currency that could be launched as early as the second half of 2022.
The digital currency will be backed by bank deposits and use a unified platform to speed up large transfers and settlements between companies and reduce costs, the newspaper said.
Members of the consortium include Mitsubishi UFJ Financial Group (MUFG), Mizuho Financial Group, and Sumitomo Mitsui Financial Group. The consortium has been meeting regularly since last year to study how to build a unified settlement infrastructure for digital payments.
All three banks have launched their own digital payment systems, but they still lag behind technology companies such as SoftBank Group Corp.'s PayPay.
This move may affect the Bank of Japan’s separate ongoing central bank digital currency (CBDC) test. Policymakers have said that if the central bank wants to issue a CBDC, they will work closely with the private sector.