Tagged: alipay

February 9, 2017 @ 1:55 pm By JD Alois  |  

Ant Financial, part of Alibaba’s growing internet conglomerate, just announced the acquisition of MoneyGram (NASDAQ: MGI) – a Dallas-based money transfer service – for $880 million. Now Ant Financial is apparently raising $3 billion to help fuel its global expansion. First reported in the Information, Ant… Read More

January 29, 2017 @ 11:00 am By JD Alois  |  

Singapore-based MC Payments has acquired a controlling stake in Genesis Payment Solutions.  Genesis is a company that is used by Alipay, part of Alibaba, to acquire merchant accounts on its behalf. Genisis helps retailers process payments from Chinese tourists using Alipay – the country’s leading… Read More

January 25, 2017 @ 1:22 pm By JD Alois  |  

The 2017 World Economic Forum held in Davos, Switzerland last week, will soon become a distant memory as participants and observers jet back to their day jobs. But one of the interesting topics tackled as the seminal gathering was the emerging environment of financial innovation… Read More

January 18, 2017 @ 1:14 pm By JD Alois  |  

Ant Financial Joins UNEP Sustainable Finance Initiative Ant Financial has signed the “Declaration on Environment and Sustainable Development” and joined the United Nations Environment Programme Sustainable Finance Initiative as a full member of the organization. In fact, China Merchants Bank and Industrial and Commercial Bank… Read More

December 27, 2016 @ 7:21 am By Xu Gao  |  

Suning.com Receives Authorization from CBRC to Set Up a New Private Bank On the 21st December, Suning.com, one of China’s leading e-commerce platforms, announced it had received authorization from the CBRC (China Banking Regulatory Commission) to set up a new private bank, named Suning Bank…. Read More

December 15, 2016 @ 7:00 am By xu gao  |  

China Insurance Regulatory Commission Calls Halt to Online Insurance business of Foresea Life Insurance & Five Other Insurance Companies On the of 5th December, the China Insurance Regulatory Commission (CIRC) called a halt to the online insurance business of Foresea Life Insurance for irregularities and… Read More

November 30, 2016 @ 2:47 pm By Xu Gao  |  

China’s Leading Auto Financing Companies Set-up Self-Regulating Organization in Shenzhen. On the 23rd November, auto financing self-regulatory regulatory group “Che Dai Quan” (literally meaning auto financing group) was set up in Shenzhen. A number of leading auto financing companies joined this organization, including; RRJC, touna,… Read More

November 16, 2016 @ 11:31 am By Xu Gao  |  

AliPay Offers New Functions for Single Users. Earlier this month, some AliPay users discovered a new online dating function on home page of  the AliPay app (Above 9.9 Version). According to some reports, users received invitation for this beta function. The users will have to… Read More

November 2, 2016 @ 11:28 am By Xu Gao  |  

In Response to Lending Cap Regulations, More & More Chinese P2P Platforms Start to Transfer to Financial Asset Exchanges In August, the China Banking Regulatory Commission (CBRC) issued rules for the online lending industry and set lending caps for both individual and business peer to… Read More

September 19, 2016 @ 12:03 pm By WeiyangX  |  

Fintech related cases would become an important area of civil and commercial trial in the future. On September 10, 2016, the sixth “Southern China Enterprise Law Innovation Forum” was held in Shenzhen. During the seminar of “China’s Law Innovation in Internet Age”, Yang Linping from… Read More

September 2, 2016 @ 2:29 am By Erin Hobey  |  

Delhi-based One97 Communications, which runs mobile payment and ecommerce platform Paytm, has received Rs 400 crore ($60 million) from Taiwanese semiconductor maker MediaTek’s Mountain Capital Fund, reported the India Times.  The deal, which was ratified by the board of directors earlier this week, more than doubles Paytm’s… Read More

August 4, 2015 @ 12:29 pm By Erin Hobey  |  

“China’s central bank has moved to defend draft rules that would force online payment processors to channel large payments through traditional bank accounts, a requirement that industry observers say will stifle innovation while protecting the interests of incumbent banks,” reported FT’s Gabriel Wildau. “The People’s Bank of China… Read More

March 16, 2015 @ 10:25 am By JD Alois  |  

Alibaba, the Chinese internet conglomerate, has formed another strategic alliance to provide loans to businesses. Earlier this month Alibaba inked an agreement with Lending Club to facilitate loans to US businesses seeking to purchase goods from China manufacturers. Now Alibaba has created a similar arrangement with… Read More