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THE global explosion of digital and mobile payments is driving the need for a more secure authentication system.
BEIJING: The number of computers in China under attack from ransomware dropped from Monday to Tuesday to 213,000 per hour on average from more than twice that at 520,000 per hour from Saturday to Sunday, according to data released by the National Computer Network Emergency Response Technical Team/Coordination Centre of China.
The Chinese tradition of giving gifts of money in red envelopes at Lunar New Year has turned into big business for Web giants Alibaba and Tencent, which now both offer electronic hong bao.
BEIJING, Feb 18, 2015 (AFP) - The Chinese tradition of giving gifts of money in red envelopes at Lunar New Year has turned into big business for Web giants Alibaba and Tencent, which now both offer electronic “hong bao”.
China will limit the amount of money consumers can transfer to third-party online payment platforms, aiming to protect banks and consumers from fraud amid an explosion of online and mobile payment transactions.
BEIJING: China's central bank is considering regulations that would significantly limit the use of third-party payment systems, including the payment arms of Alibaba Holding Group and Tencent Holdings Ltd.
The payment affiliate of Alibaba Group Holding Co, China's biggest e-commerce company, said on Saturday it completed more mobile payment transactions in 2013 than US-based PayPal and Square Inc combined.
MOL Global Pte Ltd, the owner of payment services provider, MOL AccessPortal Sdn Bhd, expects to double its payment volume to RM3bil by end-2013 and RM6bil by 2014.