https://www.usdanalytics.com/industry-reports/payment-security-service-market
Payment Security Service Market Study
Payment Security Services Major Types
- Integration services
- Support services
- Consulting services
Payment Security Services Top Applications
- Cards
- Digi Wallets
- Internet Banking
- PoS
- Retail
Payment Security Services Top Regions/Countries
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Spain, Italy, Others)
- Asia Pacific (China, India, Japan, South Korea, Australia, Others)
- Latin America (Brazil, Argentina, Others)
- Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)
Top Payment Security Service Companies in the World
- Elavon (United States)
- CyberSource Corporation (United States)
- Braintree (United States)
- Index (United States)
- Ingenico ePayments (Netherlands)
- GEOBRIDGE Corporation (United States)
- Transaction Network Services Inc (United States)
- TokenEx, LLC (United States)
- Shift4 Corporation (United States)
- Intelligent Payments (Gibraltar)
China’s cross-border yuan payment system has signed up more financial entities from Africa, Central Asia and the Middle East, as Beijing accelerates efforts to promote the global use of its currency amid rising tensions with the United States.
A group of six financial institutions officially joined the yuan-based Cross-border Interbank Payment System (CIPS) as direct participants during a ceremony in Shanghai on Wednesday, becoming the latest entities to sign up to China’s alternative to the Society for Worldwide Interbank Financial Telecommunication (Swift) system.
The newcomers include the African Export-Import Bank, First Abu Dhabi Bank, South Africa’s Standard Bank, Singapore’s United Overseas Bank, the Kyrgyzstan-based Eldik Bank, and Chongwa (Macau) Financial Asset Exchange, a state-owned asset trading platform from the special administrative region, according to state broadcaster CCTV.
Beijing has been promoting the CIPS – which was first launched in 2015 – as it strives to expand the use of the yuan in global trade and hedge against any potential moves by the United States to impose financial sanctions on Chinese entities.
The system had 174 direct participants as of the end of May, though most of them were made up of domestic and overseas branches of Chinese banks, as well as Chinese branches of global financial giants such as HSBC, JP Morgan and Citibank.
A direct participant refers to an entity that owns a CIPS account and can directly remit through the system, while indirect participants have to rely on others to complete transactions on their behalf.
