China and Russia agree on a new bi-lateral payment system
The two countries are set to join efforts in creating a national currencies payment system, in order to boost the use of the ruble and the yuan in bilateral and international trade. As reported by paymentscardsandmobile.com, the development of “a new international financial payments system aims to address rising concerns over additional US sanctions and trade tariffs”.
China has been Russia’s biggest trading partner, representing 15% of Russian international trade last year. Both countries expect bilateral trade to reach USD 100 billion by the end of 2018, with plans to boost it to USD 200 billion until 2024.
Which country is home to one-tenth of the world’s gamers?
India. This particular market also has the second-largest smartphone user base in the world.
“While the sheer size of India’s population and its potential for games have inspired many articles over the past years, now is the time for Western and Asian game companies to consider moving in.” – Newzoo
As Newzoo mentions in one of its articles, by the end of 2018, nearly 387 million Indian consumers will use smartphones, double the number registered two years ago. In addition, it is expected to increase to 585 million by 2020. This means huge potential for the gaming industry, since, as the same source points out, the average revenue per user on Android mobile phones, accounting for 94% of all smartphones in India, has witnessed a two-fold increase in two years, pushing up the annual spend per paying mobile gamer significantly.
Singapore and Japan ready to welcome Revolut
In a bid to conquer new Asian markets, Revolut has secured licences in Singapore and Japan for official rollouts in Q1 2019. So far, Revolut has managed to attract more than 3.2 million European customers, processing 245 million transactions with a total volume transaction of over USD 32 billion.
The company has already revealed plans to enter the US and Canadian markets in the upcoming weeks.
Tencent aims to challenge Alipay in Japan
Tencent, the Chinese owner of WeChat, has joined forces with messaging app operator Line to provide payment services in Japan.
As a result, Japanese merchants will be able to use an integrated payments system to serve local users of Line Pay, the Japanese app’s payment service, as well as Chinese tourists who use WeChat Pay, the payment system incorporated in the messaging and social media app WeChat, according to a statement by Tencent and cited by scmp.com.
Commuter commerce and the UK
It seems that users in the UK do not refrain themselves from spending a lot online while commuting by train.
According to research made by KBH On-Train Media and Retail Economic, the value of on-train commuter commerce reached EUR 2.9 billion last year and is set to increase by 75% to hit EUR 5.2 billion by 2022. In total, 51% of commuters purchase online while travelling and 15% of the active shoppers buy on the train more than once a week. In addition, the value of each transaction is almost EUR 32 on average.