Ant Financial teams up with CK Huntchinson in AliPayHK Joint Venture
Chinese payment mogul Ant Financial has joined hands with Hong Kong’s CK Hutchinson to create a joint venture to operate its payment app, AlipayHK, in Hong Kong. Terms of the 50-50 joint venture were...
View ArticleChinese Tourism May Bring QR Codes Mainstream in the U.S., U.K.
EXCLUSIVE— Will the popularity of the QR code in China eventually make its way to the United States, the United Kingdom, and other Western markets? It could, with a little push from Alipay. The mobile...
View Article$3.46 Trillion in 3 Months: China’s Colossal Mobile Payments Market
Xinhua News reports that consumers in China’s third-party mobile payment market spent a total of $3.46 trillion (23 trillion yuan) in mobile transactions during the second quarter of 2017 alone. This...
View ArticleAlibaba’s $15 Billion Research Investment to Include Fintech Focus
Chinese e-commerce titan Alibaba announced today that it plans to invest more than $15 billion over the next three years in a global research and development program. Fintech will be among the target...
View ArticleAlipay and Chase Partner Up to Serve Chinese Tourists Abroad
Alipay announced today that its users will now be able to use their Alipay Mobile Wallets for to make purchases from JPMorgan Chase merchant clients. The app, supported by Chinese fintech giant Ant...
View ArticleBNP Paribas Integrates WeChat Pay, Year After Its Alipay Launch
EXCLUSIVE – BNP Paribas opened Chinese mobile payment service WeChat Pay to its retail partners in Europe today. The payment solution will first debut at two flagships stores owned by retail...
View ArticleAlipay Dominates Alibaba Singles Day With 90% of Transactions
China’s Alibaba Group processed nearly 1.5 billion transactions yesterday during its Singles Day shopping event, with most of these transactions taking place over the group’s mobile payment platform,...
View ArticleAlipay Follows Chinese Tourists to Vietnam
EXCLUSIVE- One day after announcing its best “Singles Day” shopping event sales figures yet, Chinese mobile payment app Alipay said today that it was making its way to Vietnam. The decision to launch...
View ArticleWatch How Fast Alibaba’s Singles Day is Growing
China’s Alibaba Group experienced its best Singles Day shopping event to date last week. The event, which is annually held on November 11 each year, processed nearly 1.5 billion transactions on that...
View ArticleAdyen Now Supports WeChat Pay at the POS
EXCLULSIVE—Payments platform Adyen will now support popular Chinese mobile payment service WeChat Pay at the point-of-sale for Adyen merchants, the fintech announced today. As part of the company’s...
View ArticleNumber of Chinese Mobile Payments Approaches 1 Trillion
Mobile payments have been a major trend in 2017, especially for China. This comes as no surprise, with China’s expanding tech-savvy middle class causing e-commerce apps such as Alipay, WeChat and...
View Article‘No Guarantee’ Payments Provider Euronet Will Pounce on MoneyGram, Company Says
EXCLUSIVE— Ant Financial’s proposed merger with American company MoneyGram is officially dead: and, as of now, the money transfer service is out of suitors for a potential acquisition. The company’s...
View ArticleChina’s Central Bank Cracks Down on Major Payment Platforms
The People’s Bank of China (PBOC) will require payment platforms to allocate as much as 50% of their total client funds in a regulated interest-free reserve. Additionally, the PBOC also said it would...
View ArticleAlibaba Group May Be Listed on Hong Kong Stock Exchange, Jack Ma Says
Jack Ma, founder of e-commerce company Alibaba Group is seriously considering listing the company on Hong Kong’s exchange, he said. Alibaba’s $25 billion IPO on the New York Stock Exchange in 2014 was...
View ArticleRipple, MoneyGram Announce Partnership to ‘Modernize’ Payments
Blockchain firm Ripple will be partnering with U.S. money transfer service, MoneyGram, to test out payment flows of XRP, Ripple’s native cryptocurrency, the companies announced today. Through the...
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...
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