1月30日，据中国银联官方微信公众号发布，银联国际与阿塞拜疆共和国中央银行正式签署战略合作备 忘录，双方将围绕扩大银联卡发行、共建本地二维码标准、推动跨境互联互通等重点领域深化合作。 银联国际首席执行官王立新与阿塞拜疆共和国中央银行副行长Vusal Khalilov通过视频会议共同出席签 约仪式。双方约定，将进一步扩大银联卡在阿塞拜疆的发行规模，积极探索社保卡等特色卡产品；同 时，依托银联在二维码支付领域的技术积累与实践经验，双方将合作建设本地二维码标准体系，推动中 阿二维码支付互联互通。 据了解，2024年7月阿塞拜疆对中国公民实施免签政策以来，赴阿旅游热度显著上升，当年中国赴阿游 客数量接近4.5万人次，同比增长93%。2025年7月中阿互免签证协定正式生效，同年1-11月中国赴阿游 客达到6.1万人次，中国成为阿塞拜疆入境客源国前十大市场之一。 银联相关负责人表示，中阿旅游持续升温催生了旺盛的跨境支付需求，银联国际通过与International Bank of Azerbaijan（ABB）、Azer-TurkBank、Pasha Bank等主流银行合作，银联受理网络已基本覆盖当 地日常消费场景，并开 ...

周四，Picpay NV(PICS.US)登陆美股市场，开盘涨0.26%，报19.02美元。IPO价格为19美元。这家公司 是一家总部位于巴西圣保罗的数字银行与支付科技平台，最初由移动支付钱包起家，现已发展成为一个 提供多种金融服务的数字银行与支付生态系统，包括个人钱包、二维码支付、信贷、保险、投资及企业 收单服务等业务，服务用户超过6,600万。 ...

智通财经APP获悉，周四，Picpay NV(PICS.US)登陆美股市场，开盘涨0.26%，报19.02美元。IPO价格为 19美元。这家公司是一家总部位于巴西圣保罗的数字银行与支付科技平台，最初由移动支付钱包起家， 现已发展成为一个提供多种金融服务的数字银行与支付生态系统，包括个人钱包、二维码支付、信贷、 保险、投资及企业收单服务等业务，服务用户超过6,600万。 ...

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the need for continued financial reform and opening up in 2026, focusing on enhancing supervision and management across various financial markets and supporting the development of international financial centers [1] Group 1: Financial Reform and Supervision - The PBOC plans to strengthen supervision and management of interbank bond markets, money markets, foreign exchange markets, bill markets, gold markets, and related derivatives [1] - There will be a focus on enhancing the overall regulatory framework for financial infrastructure [1] Group 2: International Financial Centers - The PBOC aims to deepen high-level opening of financial markets and optimize mechanisms like "Bond Connect" and "Swap Connect" [1] - Support will be provided for the construction of the Shanghai International Financial Center while maintaining the stability and prosperity of the Hong Kong financial market [1] Group 3: Cross-Border Financial Services - The PBOC will facilitate the use of the Renminbi in trade and investment by enhancing the role of central bank currency swaps and improving cross-border financial services [1] - There will be efforts to improve the infrastructure for cross-border use of the Renminbi and welcome more eligible foreign entities to issue Panda bonds [1] - Expansion of the rapid payment system's interconnectivity and promotion of QR code interoperability cooperation are also planned [1]

Core Insights - The emergence of open-source foundational models like DeepSeek and Qwen has shifted the focus of the industry from expensive pre-training to a "post-training" model, significantly reducing the iteration cycle for financial vertical models from months to weeks and lowering computational requirements from "ten thousand cards" to "hundred cards," resulting in a hundredfold decrease in training costs [1][7][15]. Group 1: AI Implementation in Finance - The application of AI in serious industries like finance requires a focus on rigor, professionalism, and compliance [3][8][17]. - A "trustworthy intelligent agent" in finance relies on three pillars: a financial model as the brain, a financial knowledge base for experience, and a financial toolset for execution [3][20][21]. - The introduction of large models has revolutionized natural language understanding, significantly lowering the barriers for human-computer interaction [4][14]. Group 2: Challenges and Solutions - The financial industry faces six major pain points in implementing large models: limited computational power, insufficient and low-quality data, rapid model iteration, lack of knowledge accumulation, absence of application methodologies, and talent shortages [16]. - To address these challenges, a robust system to suppress "hallucinations" in large models is essential, as these hallucinations can increase with enhanced reasoning capabilities [3][5][17]. Group 3: Training Methodology and Future Outlook - The training of financial models should adopt a two-phase approach, balancing general and financial data to enhance capabilities without compromising general knowledge [23]. - Continuous evaluation and iteration of intelligent agents are necessary, treating their development as an ongoing process rather than a one-time software delivery [6][23]. - The application of large models in industries is not just a technological transformation but also a strategic business reshaping, necessitating a departure from traditional workflows [9][10][24].

Core Insights - The article emphasizes the transformative role of China UnionPay in the global payment industry, highlighting its innovative approach to cross-border payment solutions and the establishment of a more inclusive payment ecosystem [1][3][7] Group 1: China UnionPay's Role in Global Payments - China UnionPay is positioned as a "connector" in the global payment network, facilitating cross-border payment services and creating a new ecosystem for global payments [3][4] - The company has expanded its service offerings, partnering with local networks in various countries to enhance its global reach, including collaborations in Armenia and the UAE [3][4] - UnionPay's global acceptance network now covers 183 countries and regions, with over 200 local wallets supporting UnionPay QR codes or mobile payments [7][8] Group 2: Innovations and Collaborations - The company has introduced a new "four-party model" that includes wallet providers and mobile manufacturers, aiming to create a more open and inclusive payment environment [1][7] - UnionPay has established partnerships with 11 global institutions, including banks and payment networks from countries like Malaysia and Uzbekistan, to enhance cross-border payment capabilities [1][2] - The "China-Indonesia cross-border QR code interconnection" project exemplifies the collaborative efforts under the new model, showcasing the integration of various stakeholders to facilitate seamless payments [8][9] Group 3: Ecosystem Development and Shared Infrastructure - UnionPay is committed to building a shared infrastructure for payment systems, allowing banks to utilize standardized APIs and security frameworks, thus enhancing the overall efficiency and safety of payment networks [9] - The company aims to reduce fragmentation in the global payment ecosystem by fostering knowledge exchange and collaborative defense against financial risks [6][9] - UnionPay's initiatives are not merely about market expansion but also about creating a sustainable and interconnected payment ecosystem that benefits all participants [6][9]

Core Insights - Vietnam's banking sector is experiencing significant digital transformation, with non-cash payment transactions and electronic identity verification showing strong growth [1][2] Group 1: Digital Payment Growth - Non-cash payment transaction volume increased by 43.32% and transaction value grew by 24.23% compared to the same period in 2024 [1] - Internet payment transaction volume rose by 51.2% and transaction value increased by 37.17% [1] - Mobile payment transaction volume grew by 37.37% and transaction value increased by 21.79% [1] - QR code payment transaction volume surged by 61.63% and transaction value skyrocketed by 150.67%, making it the fastest-growing payment channel [1] - ATM transaction volume decreased by 16.77% and transaction value fell by 5.74%, indicating a significant reduction in cash usage [1] Group 2: Financial Inclusion - As of September 2025, Vietnam had 10.89 million mobile payment accounts, with approximately 70% belonging to users in rural, mountainous, island, and border areas [1] - Total transaction volume exceeded 290 million, with a transaction value of 85.11 trillion VND, significantly promoting financial inclusion and reducing regional digital gaps [1] - The State Bank of Vietnam has issued payment service licenses to 53 institutions, with 49 providing e-wallet services [1] Group 3: Digital Transformation in Banking - Nearly all basic banking services have been digitized, with 95% of transactions completed through digital channels [2] - Banks are integrating seamlessly with various services such as electricity, water, telecommunications, healthcare, education, e-commerce, tourism, and public administration [2] - Financial institutions are actively utilizing artificial intelligence and big data for customer behavior analysis and credit assessment, automating business processes [2] Group 4: Electronic Identity Verification - By October 10, 2025, over 132 million individual and 1.4 million institutional customer profiles had undergone biometric verification [2] - 57 banks and 39 payment intermediaries have connected to the citizen ID chip authentication system [2] - 28 banks and 4 intermediaries have linked social security accounts with bank accounts through VNeID, facilitating pension and benefit payments for the public [2]

Group 1 - The company has completed the acquisition of 80% of Hwabao Trust Limited, a company registered under Hong Kong law, which holds a TCSP license, enhancing its service capabilities for Fopay users [1] - Following the acquisition, Fopay will launch two new features: cross-border transfers and QR code payments, aimed at providing a more efficient and cost-effective payment experience for local users in selected markets [1] - The board believes that the acquisition aligns with the overall interests of the company and its shareholders [1] Group 2 - The company will continue to explore new investment and business opportunities for sustainable growth and long-term shareholder returns, including expanding Fopay's service offerings [2] - Compliance with applicable laws and regulations in target jurisdictions is crucial, and the company will ensure that any new investments and service expansions through Fopay adhere to these legal requirements [2] - The company may collaborate with qualified service providers or business partners, or obtain necessary licenses through acquisitions to ensure compliance [2]

Core Viewpoint - The current payment industry in China is transitioning from rapid development to high-quality development, facing structural and institutional challenges that need to be addressed, with interoperability being a necessary path to resolve issues in the payment sector [1][2][3]. Industry Challenges - The payment industry in China is characterized by high concentration, with issues such as network and standard incompatibility, insufficient industry collaboration, and a lack of sustainable development capabilities [2][3]. - The domestic QR code payment market has developed multiple standards and networks, leading to inadequate interoperability and compatibility among different networks, which hampers efficient resource utilization [2]. - The cross-border payment sector suffers from insufficient coordination, with a two-way connection model leading to issues like redundant construction and resource waste, affecting the efficiency and user experience of foreign wallet integration [2][4]. Interoperability as a Solution - Promoting interoperability in QR code payments is seen as a crucial breakthrough to address the aforementioned challenges, with a focus on creating an open and win-win industrial consensus [3][4]. - A systematic framework for promoting payment interoperability will be established, addressing key aspects such as rules, pricing, network connectivity, infrastructure interconnection, and regulatory governance [3][4]. Progress and Initiatives - Significant progress has been made in promoting interoperability, including the successful establishment of a new path for rapid payment system interoperability between mainland China and Hong Kong, which has been operational since June [4][5]. - The People's Bank of China has guided the establishment of a cross-border QR code unified gateway, which has processed 198.1 million transactions amounting to 427 million yuan as of September 11 [5][6]. Future Directions - The People's Bank of China aims to further enhance the cross-border payment interoperability mechanism, focusing on collaboration among government, infrastructure, and market entities to strengthen China's global financial connectivity [7][8]. - There is an emphasis on building a more open and efficient domestic QR code payment network, encouraging market institutions to engage in interoperability cooperation while optimizing the industry ecosystem [7][8].