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Shanghai boosts payment convenience for elderly, foreign residents

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SHANGHAI, July 18, 2024 /PRNewswire/ — A news report from english.shanghai.gov.cn:

Shanghai has significantly improved payment convenience for both elderly and foreign residents, as highlighted by Chen Yong, deputy inspector at Shanghai Head Office of the People’s Bank of China, during the bank’s 2024 third-quarter press conference on July 10.

Chen outlined several initiatives aimed at improving payment services across the city, including a comprehensive action plan issued on April 18. The plan targets six major areas with 15 specific goals and involves 20 city departments to ensure coordinated implementation.

Key actions include improving foreign card acceptance, enhancing cash withdrawal convenience, and optimizing mobile payment applications. As of June 30, over 50,000 merchants and 70,000 terminals in Shanghai had supported foreign card payments. Foreign card transactions exceeded 1.9 million in the first half of 2024, totaling 3.5 billion yuan ($481.05 million).

The Shanghai government has implemented a subsidy policy for point of sale (POS) machine deployment, which has significantly boosted foreign card acceptance. Additionally, the city focused on critical scenarios such as metro stations and railway stations, equipping them with card acceptance terminals to resolve payment issues.

To improve cash services, Shanghai has expanded the availability of small-denomination cash withdrawals at ATMs in strategic locations and opened 222 foreign currency exchange points.

The Shanghai branch of the Industrial and Commercial Bank of China (ICBC), for instance, has increased its cash reserves and installed 63 ATMs capable of dispensing 10-yuan notes. “We have set up over 450 small-denomination cash exchange channels to facilitate easy access to change,” said Mi Liang, vice-president of the Shanghai branch of ICBC.

The Shanghai branch of the Bank of China has doubled the number of merchants and terminals that accept foreign card payments, resulting in a two-fold increase in transaction volume. “We have ensured comprehensive coverage of foreign card acceptance in major commercial zones and collaborated with major hotel chains and international coffee brands,” said Zhang Xinyuan, vice-president of Shanghai branch of the Bank of China.

Alipay, one of the most popular mobile payment platforms in China, has been instrumental in promoting mobile payment solutions for foreign residents. “By June 30, Alipay’s foreign card binding’ service had supported more than 400,000 foreign users,” said Wang Lijuan, general manager of Alipay. The company has also launched marketing campaigns and expanded service coverage in major commercial areas and transportation hubs.

China UnionPay has contributed to enhancing payment convenience through its “Jinxiu Action 2024” campaign. “We have provided substantial subsidies and support to acquiring institutions to lower the cost of upgrading payment terminals,” said Gong Zhongrui, general manager of the Shanghai branch of China UnionPay. The company has also promoted the use of UnionPay cards and mobile wallets among foreign residents, ensuring widespread acceptance in key commercial areas and tourist attractions.

The establishment of comprehensive service centers at Shanghai’s international airports has increased convenience for international travelers. These centers provide 24-hour services, including payment, telecommunications, cultural and tourism information, and transportation assistance. On June 29, the first such center began trial operations at Shanghai Pudong International Airport’s T2 terminal.

Meanwhile, Shanghai has optimized payment convenience for the elderly, with over 90 percent of bank branches in the city having completed elderly-friendly renovations. More than 6,000 self-service machines now support passbook printing, and 656 elderly service stations have been established. Additionally, major payment service providers have enhanced mobile banking apps with large-font versions and upgraded transfer risk control measures to better serve the elderly population.

Looking ahead, Chen noted that the Shanghai Head Office of the People’s Bank of China will continue to enhance payment convenience in collaboration with various departments. The goal is to establish a safer, more convenient, efficient, and inclusive payment environment in Shanghai, contributing to the city’s development as a benchmark for payment convenience and supporting the construction of the city’s “Five Centers” initiative.

View original content:https://www.prnewswire.com/news-releases/shanghai-boosts-payment-convenience-for-elderly-foreign-residents-302200548.html

SOURCE english.shanghai.gov.cn

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NAVEE Launches ST3 Pro and GT3 Pro at CES 2025, Receives UL and TÜV Rheinland Certifications

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January 10, 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — NAVEE, a global leader in intelligent short-distance mobility, today announced the North American launch of its flagship electric scooters, ST3 Pro and GT3 Pro, at CES 2025. The event, running from January 7 to January 10, also marks the company’s achievement of two prestigious awards that validate its leadership in smart mobility.

UL verification: Micromobility Performance Range, Energy Consumption and Acceleration

During CES, UL awarded the ST3 Pro-U and GT3 Pro-U with the “Micromobility Performance Range/Energy Consumption/Acceleration” verification. This recognition validates NAVEE’s engineering excellence, with both scooters exceeding rigorous standards for range, energy efficiency, and acceleration. Bryan Bai, NAVEE’s Vice President and Head of North American Sales, and Sherry He, vice president and general manager of Consumer, Medical and Information Technologies at UL Solutions, presided over the award ceremony.

TÜV Rheinland Certification: Range at Max. Speed

Simultaneously, TÜV Rheinland granted the ST3 Pro its “Range at Max. Speed” certification, verifying that the scooter delivers on its promised maximum speed range capabilities. Jay Yang, Vice President of Greater China Electrical at TÜV Rheinland, presented the certification to NAVEE, underscoring the scooter’s exceptional performance standards.

“These launches at CES 2025 represent a significant milestone in our mission to advance smart mobility technology for consumers worldwide,” said Lu Jian, Brand Representative of NAVEE. “The UL verification and TÜV Rheinland certification demonstrate our unwavering commitment to excellence and validate the real-world performance our customers can expect.”

ST3 Pro and GT3 Pro: Redefining Smart Mobility

The ST3 Pro and GT3 Pro represent the next evolution in urban transportation. Engineered for the demands of modern city commuting, these premium electric scooters combine exceptional range and acceleration with sophisticated smart features. The prestigious UL verification and TÜV Rheinland certification affirm NAVEE’s position as an industry pioneer in electric mobility innovation.

About NAVEE

Founded in 2021, NAVEE has quickly emerged as a leader in the global electric mobility market. With a presence in over 30 countries and more than 200,000 users, NAVEE is revolutionizing urban commuting with stylish, reliable electric scooters. The company continues to invest heavily in research and development, ensuring it remains at the forefront of innovation in the electric mobility sector.

For more information, visit: NAVEE Official Website https://www.naveetech.com/

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SOURCE NAVEE

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Fintech nsave launches investment platform, offering people from distressed economies protection from inflation with compliant and safe investments abroad

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54 minutes ago

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January 10, 2025

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nsave offers trusted dollar, sterling or euro accounts abroad to people from high inflation countries.Customers can now access a range of US equities, ETFs and funds.TQ Ventures leads $18mn financing, with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton.

LONDON and GENEVA, Jan. 10, 2025 /PRNewswire/ — nsave, the provider of trusted, compliant accounts abroad to people from countries with high inflation, has today announced the launch of an investment product, enabling people at risk of financial exclusion to protect and grow their wealth.

The company also confirmed an $18mn Series A investment led by TQ Ventures with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation, to accelerate their growth.

Today’s means customers can access US equities, ETFs and soon funds managed by some of the world’s largest asset managlaunchers via the nsave app, subject to onboarding and compliance checks.

By working with regulated financial institutions and banking partners in the UK and Switzerland, nsave offers safe and compliant accounts abroad, democratising offshore services to millions of people affected by high inflation or economic uncertainty in their home countries.

nsave’s customers include young professionals who move abroad and face exclusionary and outdated compliance processes due to their country of birth, alongside people from high inflation economies, who fear their life savings will be wiped out.

Based in London and Geneva, nsave is led by former Rhodes Scholars Amer Baroudi and Abdallah AbuHashem.

nsave CEO Amer Baroudi said: “Our vision is to go beyond just protecting everyday people’s wealth by enabling safe and compliant accounts abroad, but to enable them to grow it, too.”

“For some of our customers, this is the first time they can access trusted investment services securely. We believe your passport shouldn’t determine your path to prosperity. Our compliance-by-design approach enables us to offer services safely to many more people.” 

TQ Ventures co-founder and co-managing partner, Schuster Tanger, said: “nsave is tapping into a massive market of individuals underserved by existing financial services who need secure, stable financial solutions.”

“From the outset, I was impressed by nsave’s unique approach and the strength of their team, no doubt a function of Amer and Abdallah’s own lived experience of these challenges. We’re thrilled to roll up our sleeves with nsave to create a more inclusive financial system.”

Contact:
press@nsave.com

 

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Vietnam’s Youth Rally Behind Blockchain: KuCoin Reveals Groundbreaking Insights at VTIS 2024

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January 10, 2025

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HANOI, Vietnam, Jan. 10, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to share the findings from its second edition of the KuCoin Campus Survey, conducted during the Vietnam Technology & Investment Summit (VTIS) 2024. With 926 participants surveyed from December 3rd to December 4th, 2024, the results underscore the vibrant interest in blockchain technologies among Vietnam’s youth, reinforcing KuCoin’s commitment to nurturing this vital market.

The survey, a key initiative under KuCoin Campus, highlights a strong, positive sentiment towards cryptocurrencies, with 92% of participants optimistic about the future of digital assets. Remarkably, 82% of respondents are considering blockchain-related careers, signaling a burgeoning talent pool eager for development and opportunities within the industry.

Vietnam’s strategic importance to both KuCoin and the broader crypto community is evident as 68% of participants expressed a “very high interest” in blockchain, making it a critical hub for crypto innovations and community engagement. Additionally, 73% of respondents currently hold cryptocurrencies, demonstrating a mature market ready for further expansion and adoption.

The survey also uncovered a significant inclination towards diverse blockchain roles, with data analysis (24%), marketing (22%), and business development (21%) being the most coveted. These insights are invaluable as they highlight the areas of highest potential and interest among the future workforce.

“Vietnam has been and will continue to be a key market for us,” said Alicia Kao, the Managing Director of KuCoin. “As the People’s Exchange, we are committed to empowering and equipping this new generation with the tools they need to succeed in the evolving digital landscape.”

View the full report here (EN version, VN Version), or visit KuCoin’s official website for further information.

About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.

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