China’s new digital currency

China’s proposed new digital currency would bear some similarities to Facebook’s Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, ... Read More
social networks payments

UN report: Social network payments now reach nearly US $3 trillion in China

Payments on messaging and e-commerce platforms set to increase China’s GDP by $236 billion by 2025, unlocking new economic opportunities for people and small businesses A new UN study ... Read More

Ant Financial merged with HelloPay Group

Almost exactly one year ago, Alibaba announced its US$1 billion purchase of a controlling stake in Lazada, the largest online shopping and selling marketplace in Southeast Asia – and a gateway ... Read More

Mobile payments in China exceed US$1tn in one quarter

China’s Third-party Mobile Payments Size Hit RMB9,041.9 Billion(US$ 1314.23 billion) in 2016 Q3 In 2016 Q3, China’s third-party mobile payment market reached RMB9,041.9 billion in size, a jump of ... Read More
China Fintech

China Fintech Deals Double In 2016 While US, Europe Decline

Chinese investors continued aggressively investing in financial technology (fintech) last year, despite a slowdown in other major markets around the world. Fintech investments in China doubled during the first ... Read More
A Moneygram logo is seen outside a bank in Vienna

MoneyGram Agrees to Merge with Ant Financial

MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer services, and Ant Financial Services Group, one of the world’s leading digital financial services providers and parent company of ... Read More

Alibaba Financial Affiliate Seals Bank Deals for Alipay Expansion in Europe

Alibaba Group Holding Ltd.’s financial affiliate said it would collaborate with three banks and a payments company in Europe as the Chinese company seeks to expand its presence there. ... Read More
alibaba logo

Company wants to introduce hands-free shopping in virtual reality

Alibaba‘s finance arm is working on a technology that could potentially allow users to shop inside virtual stores without having to take off their virtual reality (VR) goggles to ... Read More

Alibaba Pays $100 Million For Eye-Scan Firm

Expect to “see” eye-scanning in more places. Alibaba’s payments arm, Ant Financial, has acquired EyeVerify, a maker of optical recognition technology used by Wells Fargo along with dozens of regional banks ... Read More

Apple Seeks to Launch Apple Pay in China by February

Tech giant has paved way by striking deals with big four state-run banks, but regulatory hurdles may remain Apple Inc. seeks by early February to launch its new Apple ... Read More
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