Tagged: alipay

March 25, 2020 @ 7:50 am By Omar Faridi  |  

The People’s Bank of China (PBoC), the nation’s central bank, is reportedly inching closer to launching a national virtual currency. As noted in a report from the Global Times on March 24, 2020, which cited “industry insiders,” the PBoC seems to have finalized the development… Read More

March 16, 2020 @ 7:00 pm By JD Alois  |  

Fintech TransferWise has announced that its 7 million+ customers can now send money instantly to Alipay users. Alipay is the payments platform provided by Ant Financial (Alibaba). Ant Financial is the highest valued Fintech in the world. “Our newest partnership with Alipay has been one… Read More

March 1, 2020 @ 6:10 pm By Omar Faridi  |  

Macau Pass S.A., the developer of a contactless smartcard (previously called Transmac IC Card), first launched the Transmac over 20 years back (in 1999). The card may be used to conveniently pay for bus fares, everyday shopping, and dining with many more retailers expected to… Read More

February 9, 2020 @ 3:28 am By Xu Gao  |  

Insurtech Platform Huize.com to List on NASDAQ on February 12 On February 6th, online insurance platform Huize.com updated its F-1 prospectus filed to the US Securities and Exchange Commission (SEC), and planned to list on NASDAQ on February 12th, with a stock code “HUIZ”. It… Read More

January 27, 2020 @ 12:16 pm By Samantha Hurst  |  

Remitly, a U.S.-based online money transfer service, announced on Monday it has teamed up with Alipay to enable Remitly customers to send money from their smartphone or computer, and for funds to be received within the Alipay app. The company is claiming to be the… Read More

January 23, 2020 @ 3:14 pm By Samantha Hurst  |  

WorldRemit, a UK based Fintech in the digital money transfer sector, announced on Wednesday it has formed a new global remittance partnership with Alipay. According to WorldRemit, the collaboration will enable consumers to use the WorldRemit app or website for cross-border remittances to the Alipay… Read More

December 25, 2019 @ 11:30 pm By Xu Gao  |  

China to Enact Personal Information Protection Law and Data Security Law in 2020 On December 20th, the Legislative Affairs Commission of the NPC Standing Committee held its third press conference. According to the Legislative Law of the People’s Republic of China, the Standing Committee of… Read More

December 15, 2019 @ 2:33 pm By Omar Faridi  |  

Indian online payments company Paytm’s parent has secured 4,724 Crore (appr. $660 million) from several large investors including Alibaba’s Alipay, SoftBank’s SVF Panther (Cayman) and investments are overseen by T Rowe Price. The board members of One 97 Communications Ltd, Paytm’s parent, will be allocating… Read More

December 15, 2019 @ 10:00 am By Omar Faridi  |  

Chinese Fintech firm Ant Financial Services (part of Alibaba (NYSE:BABA)) and US asset management company, The Vanguard Group, have launched a joint initiative that offers retail investment advisory and consulting services to investors in China, the companies revealed on December 13. The announcement has come… Read More

December 10, 2019 @ 9:55 am By Xu Gao  |  

46 Innovative Financial Services & Products From 77 Entities Accepted into Beijing Fintech Sandbox On December 7th, Beijing Municipal Bureau of Financial Work held a Fintech seminar in Beijing. Zhicheng Zeng, an official from the People’s Bank of China, revealed in a speech that 46… Read More

November 17, 2019 @ 11:33 pm By Omar Faridi  |  

Cashless or digital payments have become increasingly popular, however, cash still remains a widely-used payment method in most nations, especially in rural communities and jurisdictions with a large unbanked population. Following many years of steady growth, the total number of cash withdrawals made via ATMs… Read More

November 11, 2019 @ 4:21 pm By JD Alois  |  

Alipay, part of Ant Financial / Alibaba, just had a gangbusters day as all of the transactions for Singles Day were processed through the payment platform. More than five years ago, Alipay topped PayPal to become the world leader in mobile payments – something that… Read More

November 9, 2019 @ 5:00 pm By Xu Gao  |  

Alipay and WeChat Pay Open to International Visitors Previously, international tourists visiting China cannot enjoy the convenience of local mobile payment (Alipay & WeChat Pay) services if he/she did not have a Chinese mobile number and bank account. This changed this week. On November 7th,… Read More

November 7, 2019 @ 4:21 am By Omar Faridi  |  

Hangzhou-based Alipay, a company that provides a mobile and online payments platform, has introduced a new prepaid card service for people visiting China. The card is reportedly supported by the Bank of Shanghai. The company’s announcement noted: “We heard you. You want to use Alipay… Read More

October 24, 2019 @ 8:44 am By Omar Faridi  |  

Shenzhen-based Tencent, an internet service portal that provides mobile, telecom, and online advertising services, has stated that the proposed launch of the Facebook-led Libra project could pose a threat to existing digital payment platforms. Tencent’s management noted in a recently published blockchain whitepaper that the… Read More

October 19, 2019 @ 7:00 pm By Xu Gao  |  

The 2019 Global Fintech Venture Competition Launched in Beijing On October 12th, the “2019 Global Fintech Venture Competition” (hereinafter referred to as “the Venture Competition”) was officially launched at the WDK Fintech Exchange Center in Beijing. The Venture Competition is a high-level fintech competition initiated… Read More

October 12, 2019 @ 7:11 pm By Xu Gao  |  

Chinese Banks May Stop Cooperation with Third-Party Data Provider Following Release of a New Privacy Regulation According to reports, People’s Bank of China (PBC) has issued the “Personal Financial Information (Data) Protection Measures (Draft)” to some Chinese banks this week. It is believed that the… Read More

October 11, 2019 @ 1:53 am By Cali Haan  |  

Following a confirmation from CEO Changpeng Zhao (CZ) on Twitter yesterday that the Binance cryptocurrency exchange will soon allow customers to their trading accounts using Alipay and WeChat, Alipay has tweeted to deny Zhao’s announcement, stating: “NO, you cannot…There’re several reports about @Alipay being used for… Read More

October 9, 2019 @ 9:35 pm By Cali Haan  |  

Changing Zhao (CZ), CEO of Binance, one of the world’s largest cryptocurrency trading platforms, has confirmed on Twitter that the platform will begin accepting money transfers via Chinese payment giants WeChat and Alipay. The news is very significant because China has been pursuing a progressively… Read More

September 14, 2019 @ 6:25 pm By Xu Gao  |  

The National Internet Finance Association of China Requires Members to Disclose Annualized Lending Costs This week, the National Internet Finance Association of China (NIFA) issued a notice to member institutions about annualized lending costs disclosure and industry discipline. According to the notice, some online lending… Read More