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Hong Kong and China plan cross-border e-money scheme

The Hong Kong Monetary Authority (HKMA) is planning a cross-border e-money scheme with China, which will encompass an electronic funds transfer at the point of sale framework for transit and small val…

Region round-up

The new legislation requires foreign banks to establish bankcard data centres, which will be used to submit data to the PBOC, before they can issue cards independently, but most banks currently do not…

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