Tagged: china

March 19, 2020 @ 11:02 am By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Thursday it has expanded its e-commerce offer for Chinese online shoppers by integrating with payment method WeChat Pay. Wirecard reported that the solution is ideal for European merchants seeking to enter the Chinese market…. 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 15, 2020 @ 10:45 am By Xu Gao  |  

The PBC, NDRC and Four Other Authorities Jointly Release the Work Plan for Coordinated Regulation of Financial Infrastructures In order to strengthen the construction of financial infrastructure, coordinate the regulation of important financial infrastructures and improve the capability of the financial sector to serve the… Read More

March 13, 2020 @ 2:48 pm By Samantha Hurst  |  

CreditEase Fintech Investment Fund (CEFIF) announced on Friday it is participating in a $36 Million Series B+ financing round in Fenbeitong, a corporate expense management startup based in China, alongside Eight Roads, Glade Brook Capital, Ribbit Capital, IDG Capital, and China Growth Capital. Founded in 2016,… Read More

March 13, 2020 @ 2:16 pm By Omar Faridi  |  

The ongoing competition between traditional banks and innovative Fintech firms might be coming to an end or is already over, according to Barclays, a British multinational investment bank and financial services company with over $1.2 trillion in assets. A recent report from the London-headquartered investment… Read More

March 12, 2020 @ 9:46 pm By Omar Faridi  |  

The People’s Bank of China (PBoC) has reportedly acquired 32.35 million RMB (appr. $4.7 million) in special funding in order to finance the ongoing development of its blockchain or distributed ledger technology (DLT)-enabled trade finance platform. The funding, which will be gradually injected during a… Read More

March 4, 2020 @ 9:18 am By Omar Faridi  |  

China’s capital Beijing has revealed that the city’s tax department will introduce blockchain or distributed ledger technology (DLT)-powered invoicing. The new service was reportedly launched on  March 2, 2020. Officials in Beijing said they are planning to take advantage of DLT’s unique transparency, traceability and… 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 25, 2020 @ 7:08 am By Omar Faridi  |  

WeChat Pay is planning to expand its operations and services in the United Arab Emirates (UAE), after an agreement was finalized between Tencent Holdings and UAE-headquartered solutions developer Network International. Merchants that use Network International in the UAE will soon have the option to set… Read More

February 21, 2020 @ 11:12 am By Omar Faridi  |  

Digital Banking Banking challengers have been introducing innovative financial products in order to compete with traditional banks. Challenger or neobanks attracted $5.2 billion in funding last year, which is more than triple of what they received back in 2018 ($1.6 billion). Italy-based Nexi, a digital… Read More

February 17, 2020 @ 12:47 pm By Omar Faridi  |  

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

February 17, 2020 @ 7:32 am By Omar Faridi  |  

Approximately 80% of all Chinese banks will acquire and integrate Fintech solutions from the cloud market, according to International Data Corporation (IDC), a leading multinational market intelligence company.  China’s Fintech sector is known for quickly adopting a broad range of information technologies including cloud computing,… Read More

February 10, 2020 @ 1:51 am By Omar Faridi  |  

London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad. The firm said that China, India, and Vietnam are… Read More

February 9, 2020 @ 11:07 pm By Samantha Hurst  |  

Bitmain Technologies, a China-based consumer-grade ASIC miner, recently address fraudulent usage of websites Bitmain.farm and Antminersmiling.com. The company reported it discovered some websites that have been impersonating Bitmain and have been communicating with its existing customers under false pretense. “In order to protect the legitimate… 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 @ 4:53 pm By Omar Faridi  |  

Chinese e-commerce company Zall Smart Commerce Group will establish operations in Singapore’s evolving financial industry. Zall’s management noted that the firm is part of a consortium that’s applying for a digital wholesale banking license in Singapore. Global eTrade Services, a CrimsonLogic Pte division, and Marubeni… Read More

January 26, 2020 @ 7:17 am By Omar Faridi  |  

Tokopedia, an Indonesia-based e-commerce marketplace, is reportedly in the final stages of closing an investment round valued at around $1.5 billion from Japan’s Softbank, China’s Alibaba Group and Singapore-based Temasek. The Tokopedia marketplace, which is notably the largest of its kind in Indonesia, is now… Read More

January 19, 2020 @ 8:28 am By Omar Faridi  |  

Ant Financial is reportedly working with several banking institutions in order to revive its plans for conducting an initial public offering (IPO). The Fintech company’s decision to go public has come more than a year after China’s leading mobile payments firm postponed the process after… Read More

January 18, 2020 @ 5:54 pm By Xu Gao  |  

Tencent LiCaiTong Releases “Online Wealth Management Behavior and Security Report (2019)“ On January 14th, LiCaiTong, Tencent’s wealth management platform, and National Institution for Finance & Development (NIFD) jointly released the “Online Wealth Management Behavior and Security Report (2019)”. The report published the 2019 online wealth… Read More

January 15, 2020 @ 11:02 am By Samantha Hurst  |  

Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, is set to host its upcoming fintech conference in Shanghai. Ant Financial reported that the INCLUSION Fintech Conference is an event that aims to bring together the global financial and… Read More