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UnionPay ( Chinese: 银联; pinyin: Yínlián ), also known as China UnionPay ( Chinese: 中国银联; pinyin: Zhōngguó Yínlián) or by its abbreviation, CUP or UPI internationally, is a Chinese state-owned financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card scheme in mainland China.
Digital renminbi ( Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY ), [1] or Digital Currency Electronic Payment ( DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù ), is a central bank digital currency issued by China's central bank, the People's Bank of China. [2] It is the first digital ...
The app of UnionPay ( Chinese: 云闪付; pinyin: Yúnshǎnfù, lit. 'Cloud QuickPass') is a mobile and online payment service, developed and operated by UnionPay, the national Chinese bank card clearing service. Launched in 2017, [1] it was designed to compete with the existing third-party Chinese mobile payment platforms, Alibaba Group 's ...
By the end of 2009, the number of credit cards issued exceeded 52 million, a 33% increase equivalent to nearly 13 million cards compared to the previous year. Including other types of bank cards, this bank has issued more than 280 million cards, becoming the 4th largest credit card issuer in the world.
Visa Inc. ( / ˈviːzə, ˈviːsə /) is an American multinational payment card services corporation headquartered in San Francisco, California. [1] [4] It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. [5] Visa is one of the world's most valuable ...
WeChat or Weixin in Chinese ( Chinese: 微信; pinyin: Wēixìn ( listen ⓘ); lit. 'micro-message') [a] is a Chinese instant messaging, social media, and mobile payment app developed by Tencent. First released in 2011, it became the world's largest standalone mobile app in 2018 [4] [5] with over 1 billion monthly active users.
By 2023, most private social credit initiatives had been shut down by the People's Bank of China, and regulations had cracked down on most local scoring pilot programs.: 12 Organization. Social credit in China is a broad policy category seeking to enforce legal obligations including laws, regulations, and contracts.
China's Reserve Requirement Ratio for large banks. China's banking sector had CN¥319.7 trillion (US$49.5 trillion) in assets at the end of 2020.The "Big Four" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world As of 2018.