Core Viewpoint - Yike Card (9923.HK) has successfully registered as a "credit card number contract business operator" under Japan's "Installment Sales Act," marking an expansion of its global payment footprint [1] Group 1: Business Expansion - Yike Card's wholly-owned subsidiary, Yeahpay Japan Limited, received official approval from Japan's Ministry of Economy, Trade and Industry [1] - This approval allows the company to conduct online and offline QR code payment processing in Japan, significantly enhancing its operational capabilities in the Japanese payment market [1] Group 2: Compliance and Certification - The company has successfully passed the Payment Card Industry Data Security Standard (PCI DSS) certification, which is essential for handling credit card data from major brands like Visa, Mastercard, and American Express [1] - The achievement of the Attestation of Compliance (AOC) certificate underlines the company's commitment to global security standards [1] Group 3: Strategic Partnerships - Yike Card plans to leverage its existing business foundation and collaborate with Shenzhen Fushi Technology Co., Ltd. to utilize local sales and product teams established in Japan [1] - The company aims to expand its payment and value-added service offerings by utilizing its experience in promoting local life and in-store e-commerce services on international platforms like Xiaohongshu and Dazhong Dianping [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 YEAHKA LIMITED 移卡有限公司 基於現有業務基礎，我們與投資企業深圳市富匙科技有限公司將充分發揮在日本 已建立的本地化銷售和產品團隊優勢，以及現有幫助品牌客戶在小紅書和大眾點 評海外版等國際平台推進本地生活和到店電商服務的業務經驗，逐步拓展更多支 付及增值服務場景。通過提升不同業務線間的協同效應，我們將進一步強化當地 的商業化能力，為更多國家以至跨地區的商戶提供一站式數字化商業賦能解決方 案。 1 本公告所載資料可能會更改或調整。因此，本公司股東及潛在投資者請勿過度依 賴上述資料，且在買賣本公司證券前務請審慎行事。 承董事會命 移卡有限公司 主席 劉穎麒 （於開曼群島註冊成立的有限公司） （股份代號：9923） 自願性公告 業務發展 移卡有限公司（「我們」或「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，我們 的日本全資子公司Yeahpay Japan Limited已依據日本《割賦販 ...

2025年7月26日至28日，备受瞩目的"2025 世界人工智能大会暨人工智能全球治理高级别会议(WAIC)"在 上海完美落幕。 Checkout.com 作为全球领先的支付解决方案提供商受邀参与在 7 月 28 日下午举办的"无界人工智能：深 化中英合作(AI Without Borders: Advancing UK–China Cooperation)" 主题论坛，其大中华区总经理项尧与 伦敦发展促进署大中华区首席代表赵冰冰、Fuzflo 创始人白双共同探讨 AI 赋能跨境商业生态的议题。 Checkout.com：AI 驱动跨境支付的创新实践者 项尧先生在此次座谈会中分享了 Checkout.com 在跨境支付和数字平台方面的独特经验，特别是针对 Agentic Commerce (代理电商平台)的创新性应用。作为支付解决方案的领军者，Checkout.com 为电商平 台提供的不仅仅是支付服务，更多的是通过其强大的技术能力和全球支付网络，帮助平台高效管理交 易、优化消费者体验，并助力商户扩大国际市场。通过 Checkout.com 的平台，商户能够有效支持多币 种、多支付方式的交易，同时确保支付安全 ...

Group 1 - The core issue revolves around players protesting against Visa and MasterCard for pressuring platforms like Steam to remove adult games, leading to a massive influx of calls and emails directed at these card organizations [1][2]. - Players have initiated a form of artificial DDoS attack by flooding Visa and MasterCard with communications, demanding the reversal of their policies that led to the removal of adult content from gaming platforms [2][3]. - Despite the players' efforts, customer service representatives at Visa and MasterCard have limited authority to address these concerns, and the protests may not lead to significant changes in policy [3]. Group 2 - The situation has prompted players to share resources on social media platforms, guiding each other on how to effectively communicate their grievances to the card organizations [3]. - There is skepticism regarding the long-term impact of these protests, as traditional financial institutions may overlook such movements over time, but it could lead to more cautious policy changes in the future [3].

Core Insights - Visa reported record Q3 revenue of $10.2 billion, a 14% year-over-year increase, and adjusted EPS of $2.98, up 23%, exceeding analyst expectations [1] - The company maintained its full-year earnings guidance, expecting EPS growth of 11%-13% and low double-digit revenue growth [1] - Despite strong quarterly performance, Visa's stock fell 2.3% post-earnings due to the lack of an upward revision in full-year guidance [1] Financial Performance - Q3 net profit grew 19% to $5.8 billion, with total payment volume reaching $3.62 trillion, surpassing the $3.59 trillion forecast but down from $3.94 trillion in Q2 [1] - Year-over-year payment volume increased by 8%, with cross-border payment volume up 12% and transaction volume rising by 10% [1] - Compared to Q2, payment volume grew by 8%, cross-border payment volume by 13%, and transaction volume by 9% [1] Market Outlook - Visa's CFO indicated that revenue and EPS growth are expected to exceed previous forecasts, while the CEO noted strong consumer spending trends [1] - Analysts suggest that despite Visa's strong performance, the market's expectations for significant upward revisions may not have been met, impacting stock performance [1][2] - The company is recognized for its steady control over the payment system without resorting to exaggerated marketing tactics, which may influence its valuation perception [2]

Core Viewpoint - The forum emphasized the importance of AI in driving innovation and efficiency in the financial sector, highlighting the need for collaboration among financial institutions, government, and technology companies to leverage AI for high-quality development [1][2]. Group 1: AI and Financial Sector Integration - AI is recognized as a core force driving technological transformation in the financial industry, with institutions urged to embrace AI ecosystems and enhance cooperation for resource sharing and capability building [1][2]. - The application of AI in finance is described as a complex system requiring significant investment, collaboration, and governance to balance development and regulation [1][2]. Group 2: Talent Development and Education - There is a call for establishing a talent cultivation system that integrates AI with finance, breaking down disciplinary barriers to align education with industry needs [2]. - The importance of aligning educational initiatives with national and local strategic goals is emphasized to foster a skilled workforce for the future [2]. Group 3: Technological Advancements and Infrastructure - The "China Computing Network" initiative is highlighted as a means to provide convenient access to computing power for AI applications in finance [2]. - Financial institutions are encouraged to solidify their data foundations and enhance their technological capabilities to adapt to new digital opportunities [3]. Group 4: Industry Collaboration and Partnerships - Significant partnerships were announced during the forum, including collaborations between China UnionPay, Bank of Communications, Fudan University, and others to establish a national AI application pilot base [4]. - The signing of agreements aims to create a shared intelligent industry ecosystem and promote high-quality development in sectors like smart mining and financial services for innovation-driven enterprises [4].

Group 1 - The People's Bank of China Jinan Branch imposed a fine of 50,000 RMB on Beijing Haike Rongtong Payment Service Co., Ltd. Shandong Branch for violating regulations related to bank card acquiring business [1] - Haike Rongtong was established on April 5, 2001, with a registered capital of 256 million RMB and a paid-in capital of 216 million RMB [1] - The company obtained a payment business license for bank card acquiring in December 2011, which was renewed in December 2016 and is valid until December 2021 [1] Group 2 - In 2019, Haike Rongtong received six fines totaling 1.7062 million RMB for various violations [2] - Specific fines in 2019 included 550,000 RMB for the Chengdu Branch, 180,000 RMB for the Liaoning Branch, and 270,000 RMB for the Ningxia Branch, among others [2] - The company has faced multiple penalties for failing to comply with regulations regarding customer identity verification and other operational requirements [2]

Core Viewpoint - The recent passage of two significant bills in the U.S. and Hong Kong has granted legal status to stablecoins, eliminating policy uncertainty and promoting their development, which is expected to invigorate the payment industry, digital asset sector, and the global financial system [1][2]. Regulatory Framework - Both bills clarify the positioning of stablecoins and regulate their activities, requiring a 1:1 backing with reserve assets limited to fiat or other low-risk, high-liquidity assets [2] - Interest payments on stablecoins are prohibited, reinforcing their payment attributes and distinguishing them from traditional investment products [2] - Issuers face stricter legal constraints, with only licensed entities allowed to operate stablecoin businesses in Hong Kong [2] - Regular disclosure of reserve asset reports and compliance with anti-money laundering regulations are mandated to enhance market transparency and protect investor rights [2] Impact on Payment Systems - Stablecoins are expected to reduce costs and improve efficiency in the global payment system, serving as an ideal payment tool for various transactions, especially cross-border and cryptocurrency transactions [3] - A report predicts that by 2030, the global supply of stablecoins could reach $3.7 trillion, with market capitalization growing from hundreds of billions to trillions of dollars, positioning stablecoins at the core of cross-border payments and digital asset transactions [3] Innovation in Digital Assets - Compliant stablecoins connect the real and virtual worlds, facilitating the flow of traditional capital into the Web3 space and enabling the tokenization of real-world assets (RWA) [4] - The RWA market is currently valued at $268.16 billion, with over 90% of this value attributed to stablecoins, indicating a significant role in attracting investors to the digital asset sector [4] Risks Associated with Stablecoins - The rapid development of stablecoins poses liquidity risks, as their stability relies heavily on the quality of reserve assets, which could lead to large-scale redemption crises if confidence wanes [5] - Technical risks are inherent due to the blockchain technology underpinning stablecoins, with historical incidents of hacks and system failures highlighting vulnerabilities [6] - Regulatory costs may rise significantly due to the lack of a unified global framework, creating opportunities for regulatory arbitrage and compliance challenges [7] - The widespread use of stablecoins could threaten the dominance of traditional banking by reducing commercial deposits and altering the payment landscape [7] Strategic Recommendations for China - China should leverage Hong Kong as a pilot for stablecoin development, attracting global compliant projects to enhance the internationalization of the Renminbi [9] - A robust risk management framework and legal regulations are essential to control the circulation of stablecoins domestically while ensuring sustainable development [9] - Structural reforms are necessary to restore global confidence in China's growth and to adapt to the evolving digital landscape, ultimately supporting the internationalization of the Renminbi [9]

Core Insights - Ant Group is focusing on AI to establish a new competitive edge in the upcoming decade, building on its success in QR code payments and financial services for small businesses and ordinary users [1] - The company has outlined a strategic framework that includes "dual flywheel" for Alipay, an "AI first" approach, and accelerated globalization efforts [1] Group 1: AI Applications - Ant Group's CEO highlighted three key considerations for AI applications: they should be professional, personalized, and automated [1] - The company is leveraging AI to enhance services in daily life, finance, and healthcare, aiming to make these services accessible to the general public [1] - Ant Group is investing heavily in embodied intelligence through its subsidiary, Ant Lingbo Technology, which focuses on the development and application of service robots [1] Group 2: Payment Innovations - The company aims to bridge the "last mile" of AI services in payments, recognizing that traditional digital payment methods may not fully adapt to the AI era [2] - Ant Group has launched the first domestic payment MCP in May, exploring natural language payment interactions between intelligent agents [2] - The trend towards tokenization is expected to revolutionize cross-border payment settlements, enabling near-instantaneous transactions and significantly reducing costs [2] Group 3: Challenges and Technological Integration - Despite the advancements, the development of AI faces multiple challenges, and integrating various technologies will enhance the baseline capabilities of artificial intelligence [2] - Ant Group is advancing foundational technologies such as identity verification, security, and data elements to support the large-scale application of AI in the future [2]

Group 1 - Stablecoins are rapidly moving from the periphery of the crypto industry to the center of the global financial stage, with significant developments such as Circle's successful IPO and the implementation of stablecoin regulations in Hong Kong [1][9][10] - Major companies like Ant Group and JD.com are lobbying to issue RMB-pegged stablecoins, aiming to diversify their revenue sources and enhance China's international currency status [2][10] - The market for stablecoins is projected to grow significantly, with estimates suggesting it could reach $2 trillion by 2028, driven by increasing demand for tokenized assets and financial instruments [13][15] Group 2 - Financial institutions and tech giants are investing heavily in stablecoin infrastructure, with Stripe acquiring Bridge.xyz for $1.1 billion, indicating a strong belief in the market's potential [3][4] - Companies like Amazon and PayPal are exploring their own stablecoin initiatives, further highlighting the competitive landscape and the potential for substantial profits [4][6][7] - Banks are also entering the stablecoin market, with institutions like ANZ and Citibank planning to launch their own stablecoins, reflecting a broader trend of traditional finance embracing digital assets [8][10] Group 3 - Hong Kong is positioning itself as a leader in the Web 3.0 space, with the passage of the Stablecoin Regulation Act and a surge in applications from companies seeking licenses [9][10][12] - The introduction of a regulatory framework in Hong Kong is expected to solidify its status as an international financial center, with over 50 companies anticipated to apply for licenses [10][12] - The establishment of a "sandbox" for stablecoin testing in Hong Kong aims to foster innovation while ensuring compliance, which is crucial for the development of a secure and transparent stablecoin market [12] Group 4 - The speed and liquidity of stablecoin transactions are seen as major advantages, particularly in cross-border payments and B2B transactions, where they can significantly enhance efficiency [17][20] - The growing acceptance of stablecoins among financial institutions is evident, with a shift in focus from pilot projects to full-scale implementation, as confidence in the technology increases [20][21] - The demand for tokenized mutual funds and ETFs is expected to rise, with estimates suggesting a market value of $400 billion by 2030, indicating a shift towards blockchain-based financial products [13][15]