AliPay, WeChat Processed $3 Trillion in 2016
Chinese consumers sent about $3 trillion in payments through Alibaba and Tencent payment services in 2016. According to a new report released by the UN-based Better Than Cash Alliance, users sent $1.7...
View ArticleAliPay Expands to Four Million U.S. Merchants
Alipay is now available at the POS at millions more U.S. businesses. Chinese mobile payments behemoth Alipay continues targeting North American growth by leveraging its existing partnerships. The...
View Article5 Chinese Fintechs Making Waves in the U.S.
From investing, to new payment services, to money transfer acquisition love triangles, Chinese fintech is having a bigger and bigger crossover with the U.S. fintech scene. With that in mind, here are...
View Article2017 Innovators to Watch: 32 to 38
32. Zach Perret, CEO, Plaid The era of screenscraping may be coming to an end — and even if not, the time of open banking via API is upon us, and that is good news for Plaid. The San Francisco-based...
View ArticleVisa Direct Already a Match for Mastercard, VocaLink Merge, CEO Says
Faster payments? Done and done, Visa says. Mastercard’s coming integration with bank account-based payments processor VocaLink will bring faster payments to Mastercard’s payments network in the United...
View ArticleBBVA, Alipay Agreement Keeps Focus on Chinese Consumers
Ant Financial’s premium payment service has arrived in yet another market: Spain. Spanish retailers will now support Alipay capability in their stores thanks to an agreement between Ant and Spanish...
View ArticleChinese Partnerships Are Good for Stripe, Great for Alipay and WeChat
Stripe’s recent expansion in Chinese payments opens up a vast market to the payments processor, but more notably, it allows Chinese payment giants WeChat Pay and Alipay to keep dominating that market —...
View ArticleTransferWise to Support Apple Pay for International Transfers
British fintech TransferWise will now let U.S. users send money transfers via Apple Pay. International money transmitting startup TransferWise updated its iOS app for iPhone and iPad users yesterday,...
View ArticleNearly One-Third of Starbucks In-store Payments Are Mobile
What makes the Starbucks mobile wallet such a popular option when it comes to paying for that morning coffee? Mobile payment at the coffee company’s U.S. stores increased to 30% of all stores,...
View ArticlePayworks Partners with Ant Financial to Bring AliPay to European Retailers
Payworks is bringing Chinese payment service AliPay to the European point-of-sale. The POS payment gateway provider has partnered with Ant Financial in order to integrate the AliPay service with...
View ArticleWhat’s Driving the Return of QR?
Until recently, choosing between NFC payments and QR codes would have been an easy choice. Now, with EMVCo releasing QR code payment specifications, large processors Mastercard and Visa exploring the...
View ArticleTencent Will Increase Investment in Payments, AI
Tencent Holdings will be increasing its investments in financial technologies like artificial technologies and in payments, the company stated during its earnings call yesterday. The decision to...
View ArticleAnt Financial Will Keep Focus on Commerce, POS in the U.S.
Focusing on commerce and mobile shopping led to a 56% year-over-year revenue jump for Ant Financial’s parent company Alibaba, and the company is going to keep that focus as it moves forward into the...
View ArticleThe Key to Payments in China? Transparency, Geoswift Says
EXCLUSIVE—Moving money in and out of China can be a struggle even for Chinese companies, as the country’s financial regulations continue to take a closer look at money movement. For companies based...
View ArticleApple Pay Overpowered by Tencent’s WeChat Pay
Apple issued an official statement today stating that its mainland Chinese users will now be able to use WeChat Pay for purchases made on the App Store and for Apple Music products. The WeChat Pay...
View ArticleMoneyGram MobilePass Expands to 35k Locations
Money transfer service MoneyGram is expanding MobilePass, its mobile money transfer product, to include all of its U.S. locations. The product allows MoneyGram customers to first initiate a transaction...
View ArticleAnt Financial Plans to Resubmit MoneyGram Application
Ant Financial, the Chinese payments company behind Alipay, is planning a third attempt to acquire U.S. money transfer service MoneyGram. Ant Financial first applied to buy the money transfer service...
View ArticleAlipay Moves to Sweden, Finland
Leading Chinese mobile payment service, Alipay, is expanding its platform to the Nordic region for use of Chinese tourists, the company announced today. Alipay has signed separate “MoU” agreements with...
View ArticleWhat U.S. Tourism Means to Alipay
EXCLUSIVE – Ant Financial, the spin-off from Chinese e-commerce mammoth Alibaba Group, is leveraging the U.S. payments markets with a focus on the industries that cater to Chinese tourist, according...
View ArticleJapanese Consortium of Banks to Create Digital Currency ‘J Coin’
Japanese banks are planning to create a national digital currency for the nation, known as “J Coin,” that will be ready for the 2020 Olympics set to take place in Tokyo. The digital currency will be...
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