Tagged: ant financial

Ant Financial Puts IPO on Hold; Plans More Startups & Artificial Intelligence Investments

Chinese fintech and Alibaba-affiliated Ant Financial revealed this week it is putting its Initial Public Offering (IPO) plans on hold and is now focused on investing in more startups and artificial intelligence (AI). The news of Ant Financial’s plans comes less than a year after… Read More

Alipay Collaborates With Poynt to Begin North American Expansion

Digital payment platform Alipay announced on Thursday it has teamed up with smart terminal provider Poynt to enable its Chinese users to pay with its services through all Poynt devices in North America. The duo revealed that through their new agreement, Alipay’s Chinese users visiting North America… Read More

China: WeiyangX Fintech Review

Tencent Received License to Sell Insurance on WeChat and QQ This week, China Insurance Regulatory Commission (CIRC) announced that it had grant an operation license to Shenzhen Wei Min Insurance Agency Co. Ltd. Tencent owns a majority stake (57.8%) of this new insurer. Fubon Property… Read More

China: WeiyangX Fintech Review

China Takes Strict Control Over Consumer Credit, Forbidding it to Enter the Real Estate Market It is reported on September 20th that the Guangzhou branches of PBOC and CBRC have jointly issued a statement about consumer credit regulation, forbidding it to enter the real-estate market…. Read More

China: WeiyangX Fintech Review

Baidu Partners With PayPal to Tap Cross-border Payments On July 28, Baidu annouced a strategic agreement with PayPal to tap oversea merchants as Chinese tech companies ramp up the fight for overseas payment partnerships. The partnership allows Baidu Wallet users to make online purchases outside… Read More

China: WeiyangX Fintech Review

Ant Financial Brings Artificial Intelligence to Auto Insurance On June 27th, The Alibaba Group financial affiliate rolled out an artificial intelligence-driven, image-recognition system to aid vehicle insurance claims adjusters in operating faster and more efficiently. In its demonstration in Beijing, Ant pitted man against machine,… Read More

China: WeiyangX Fintech Review

China Issues a Five-Year plan on Fintech Facing the challenges from the online finance industry, the People’s Bank of China (PBOC) and four other departments including the China Securities Regulatory Commission (CSRC), China Banking Regulatory Commission (CBRC), China Insurance Regulatory Commission (CIRC) and Standardization Administration… Read More

3 Takeaways from Mary Meeker’s 2017 Internet Trends Report

This article highlights three takeaways for Fintech firms from Mary Meeker’s 355-page-long report: 1) The Internet’s center of gravity shifts to Asia; 2) The biggest get bigger; 3) Fintechs must use gamification to improve customer engagement. Since 2001, Mary Meeker, a Partner at venture capital… Read More

Here is the Presentation that Explains How Ant Financial, Part of Alibaba, Will Dominate Finance

Alibaba has been a trailblazer in many ways. One area that Alibaba wants to dominate is finance for both consumers and SMEs and they are well on their way.  Ant Financial, their financial services subsidiary, is executing on this vision and last week Eric Jing,… Read More

China: WeiyangX Fintech Review

Chinese Tech Giant Baidu to Quit Crowdfunding Market Search engine giant Baidu Inc. is to quit crowdfunding market and pay more attention on artificial intelligence”]. Users will not see the “Baidu Crowdfunding” channel when they log in their Baidu Finance account, but will still be… Read More

China: WeiyangX Fintech Review

Financial Technology Becomes a New Spotlight of the Belt and Road Initiative Belt and Road Forum for International Cooperation, also known as the Belt and Road Initiative, was held in Beijing on May 14-15. President Xi Jinping highlighted the role that financial technology has played… Read More

Alibaba Invests In Its First Fintech Company In Hong Kong

As reported by Forbes today, Alibaba has invested in online invoice exchange marketplace Qupital, marking the Chinese e-commerce giant’s first foray into fintech investment in Hong Kong. Qupital raised a total of $2 million in its seed round. Accounts Receivable Marketplace Qupital bills itself as Hong Kong’s… Read More

Could China Cause the Price of Ethereum to Surge?

According to a recent article on The Cointelegraph, the price of Ether could surge due to activity within China. Similar to Bitcoin, Ether is a cryptocurrency that was developed and offered for sale to the public by Ethereum, a blockchain development platform, back in 2014. The value… Read More

China: WeiyangX Fintech Review

WeChat Enters the U.S. Market WeChat Pay, one of the biggest mobile payment platforms in mainland China, has boosted its cross-border business by entering the U.S. market. With the backing of China’s largest social networking app WeChat, which now claims more than 889 million monthly… Read More

China: WeiyangX Fintech Review

CBRC Releases Documentation to Regulate Small Cash Loans Market This week, China Banking Regulatory Commission released a documentation “Guidelines on risk prevention and control in banking industry” to regulate the small cash loans market by perfecting the in-out mechanisms, paying more attention to the supervision… Read More

Huge: Alipay & WeChat Payments Have Risen from $81 Billion in 2012 to $2.9 Trillion in 2016

The UN sponsored Better than Cash Alliance is out with an interesting report on Fintech and payments in China. The Alliance partners with governments, companies, and international organizations that are the key drivers behind the transition to make digital payments widely available around the globe…. Read More

P2P Lender China Rapid Finance Sets Terms for US IPO

  China Rapid Finance, a peer-to-peer (P2P) lender based in Shanghai, China, announced that it has set the terms for its upcoming US IPO. The company plans to raise $105 million through the offering of 10 million shares priced between $9.50 to $11.50 a share. At… Read More

Alibaba’s Ant Financial Increases Bid for MoneyGram

Dallas based MoneyGram (NASDAQ:MGI), a global provider of money transfer services, has become quite popular. This past January, Alibaba’s Ant Financial subsidiary announced it had offered the firm $13.25 per share to acquire the company. The two companies had entered into a definitive agreement to… Read More

China: WeiyangX Fintech Review

  Ant Financial Opens its VR Pay Service Platform to Xiaomi and Huawei. On March 31, Ant Financial, the finance arm of Alibaba Group Holdings, revealed its new payment service for virtual reality shopping at the Shenzhen Innovation Week. The VR Pay system will greatly… Read More

China: WeiyangX Fintech Review

Boao Forum for Asia Annual Conference Highlights Fintech: How will it Change Finance? Related: Boao Forum for Asia publishes “2016 Fintech Report” The four-day Boao Forum for Asia (BFA) Annual Conference 2017, themed with “Globalization & Free Trade: The Asian Perspectives”, was held from March… Read More