Due to a lack of pre-payment control, demand for using credit cards for procurement purposes is still very low. However, recent developments in Australia could change all that.
The growth of e-payments in China could cause major headaches for its central bank's monetary policy, including making depositors more sensitive to rates.
The deal between the two payments systems could improve corporates' ability to manage renminbi, their relationships with suppliers, and lower the cost of renminbi transactions, market experts claim.
The IMF could announce this week whether it wants to add renminbi to the special drawing rights basket of currencies. Some banks are betting that China has done enough.
HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
