Ant Financial has launched a credit rating system that will assess the creditworthiness of Chinese consumers and businesses using the wealth of user data held by its parent company Alibaba.

The Federal Reserve has embraced the potential of digital currencies in a new white paper outlining plans to improve the US payments landscape.

Bangalore-based mobile payments company iKaaz has released an Android app allowing users to make contactless payments without topping up their mobile wallet in advance.

Cash is very much still king in the world’s second most populous state, with just 2% of people using alternative payment methods. This year, that trend will change.

China’s yuan has become the fifth most used currency for international payments, passing the Canadian and Australian dollars in just two months.