Tagged: alipay

UEFA EURO Gets the Blockchain Treatment Through Ant Deal

This year’s UEFA EURO extravaganza will have a distinct blockchain influence for the first time. Ant Group’s blockchain arm AntChain has signed a five-year agreement with the football body which will see it become the official blockchain partner of UEFA EURO 2020 and UEFA national… Read More

China: WeiyangX Fintech Review

Police in Changsha Receive Salaries in the Form of Digital RMB At present, digital RMB pilots have been conducted in various applications across China. On May 8th, employers at the Kaifu branch of Changsha Municipal Public Security Bureau received their salaries in the form of… Read More

Fintech Unicorn Marqeta Might Conduct IPO as Early As Next Month: Report

Fintech Unicorn Marqeta is reportedly planning to conduct an initial public offering (IPO) later this year, according to a report from BI. Oakland-based payments processor Marqeta is valued at around $4.3 billion. The company provides debit cards to firms such as DoorDash and Instacart. Marqeta… Read More

President Trump Signs Executive Order to Ban US Transactions with Chinese Fintech Apps like Alipay, Tencent’s Digital Wallets

US President Donald Trump has signed an order that aims to place a ban on US transactions with eight major Chinese apps – which reportedly includes Ant Group’s Alipay and Tencent Holdings’ online wallets. Notably, this order has arrived just days before the Trump administration… Read More

Alibaba Under Investigation. Will Ant Group Ever IPO?

Chinese regulators are said to be investigating whether Alibaba (NYSE:BABA) has been engaging in non-competitive practices. Simultaneously, Ant Group – a top Fintech, is receiving additional scrutiny. Ant Group is the parent company of Alipay, China’s largest mobile payment platform. Additionally, it has been widely… Read More

Pushing Pause: Ant Group Listing on Shanghai Exchange Postponed

Following a meeting with Chinese regulators, Ant Group’s listing on the Shanghai exchange has been postponed. Poised to become the largest ever Fintech IPO at $34 billion, the hurdle is a disappointing twist for founder Jack Ma – one of the wealthiest entrepreneurs in the… Read More

Fintech Giant Ant Group’s Profits Increased 560% Year-Over-Year to an Estimated $1.3 Billion, Dual IPO Listings Forthcoming

Chinese Fintech Unicorn Ant Group, which is part-owned (33%) by digital commerce giant Alibaba, is currently planning dual IPO listings in Hong Kong and Shanghai. Established by billionaire Jack Ma’s Alibaba (NYSE:BABA), Ant Group, which includes AliPay, earned 9.2 billion CNY (appr. $1.3 billion) in… Read More

China: WeiyangX Fintech Review

Buy Insurance for Your Pet on Alipay On July 20th, Alipay started to offer pet insurance in collaboration with China Continent Insurance and ZhongAn Insurance. The pet insurance will use nose print recognition to register pets when you purchase the policy and verify pets when… Read More

Massive Fintech Ant Financial Planning Hong Kong IPO, Valuation Expected to Top $200 Billion

  Ant Financial, part of the mega-tech group Alibaba (NYSE:BABA), is planning an initial public offering (IPO) in Hong Kong that will value the firm at a massive $200+ billion valuation, according to a report. Earlier this year, the company changed its legal name in… Read More

China: WeiyangX Fintech Review

2020 CB Insights China Fintech 50 List Released On June 29th, CB Insights China announced the first CB Insights China Fintech List (the List) at the “Future of Fintech China” summit in Shanghai. Fintech companies were evaluated based on a unique DPTC system, namely Depth,… Read More

Overseas Expansion Is Logical Step for Alipay as China’s Fintech Sector Continues to Expand Presence in Asia, McKinsey & Co Partner Says

The rise of Chinese Fintech firms as major industry participants across Asia is playing a vital role in transforming the region’s financial services ecosystem. Joe Ngai, partner at consultants McKinsey & Co, confirmed: “Chinese Fintech companies have been expanding overseas.”  In 2016, Ant Financial, the… Read More

China’s Big Lenders and Fintech Firms to Distribute Virtual Yuan Tokens, which will be Highly Traceable, Potentially Amplifying Government’s Power: Report

Andy Mukherjee argues in a recently published Op-Ed in the Washington Post that the virtual yuan could potentially transform “the relationship between money, economic power, and geopolitical clout.” The digital renminbi has been under development since 2014. Its top-level design was recently finalized and its… Read More

Google Pay and India’s Digital Payments App PhonePe were Most Frequently Downloaded Fintech Apps in February 2020

Google Pay was reportedly the most downloaded Fintech app (globally) during the month of February 2020 with 15.6 million downloads. It was closely followed by Indian digital payments firm PhonePe’s app which was downloaded 6 million times. For Google Pay, this is notably more than… Read More

Alipay Launches Series of Initiatives to Support Small Businesses in Wuhan Following Lockdown Lift

Alipay, a digital lifestyle platform operated by Ant Financial Services Group, announced on Wednesday it has launched a series of initiatives to support small businesses in Wuhan as the city lifts the COVID-19 pandemic lockdown. The platform reported it has set up a special section,… Read More

Fintech TransferWise Surpasses 7 Million Global Users, Now Supports Instant Transfers to Japan in JPY

Fintech TransferWise has revealed that there are now over 7 million people across the globe that are using the company’s services to move money from one country to another. Founded in 2010 in Estonia, TransferWise now supports over 1,600 different currency routes, helping people save… Read More

Gobbill, a Fraud Detection and Payment Automation Firm, and AirPay Integrate AliPay, WeChat Payments into Today Australia Media Platform

Australia-based Gobbill, a fraud detection and payment automation firm, and AirPay, a Chinese mobile payment company, have integrated Alipay and WeChat payment functionality into a media platform, called Today Australia. The integration will allow users to make payments via a feature called “ToPay,” which comes… Read More

China: WeiyangX Fintech Review

How Did the Chinese Fintech Industry Respond to COVID-19? With the outbreak of the COVID-19, more and more people and groups have joined the fight against it. Among the entities, Fintech companies are giving full play to their advantages in providing financial services, contributing technical… Read More

People’s Bank of China Is Reportedly Inching Closer to Issuing a Digital Yuan

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

Transferwise Partners with Alipay on Money Transfers

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

Contactless Smart Payment Card Developer Macau Pass S.A. Introduces Alipay HK and WeChat Pay HK Integration

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

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