Tagged: wechat

China: WeiyangX Fintech Review

Multinational Retail Giant Auchan Establishes a Joint Venture of Consumer Finance with China’s Bright Food Group On April 28th, France’s Oney Bank and Bright Food Group from Shanghai, signed an investment agreement to establish Shanghai Bright-Oney Consumer Finance Co., Ltd., and submitted the materials to… Read More

China: WeiyangX Fintech Review

  Fintech Remarks and Proposals from 2018 Two Legislative Sessions March 3rd saw the opening of “2018 NPC & CPPCC: annual legislative and political advisory sessions” in China. Here are some fintech related remarks and proposals that we summarized from this year’s sessions. (Source: 01Caijing)… Read More

China: WeiyangX Fintech Review

WeChat Bans 1,000+ “Cash Loans” Mini Programs On February 6, WeChat released an official announcement about its ongoing move to clear up illegal mini programs (or mini apps) on its platform. According to the announcement, WeChat has permanently banned over 1000 “cash loans” mini programs… Read More

China: WeiyangX Fintech Review

Tencent Credit Launches Public Beta Testing in China On January 30th, Tencent officially launched a public beta testing for its credit service-Tencent Credit. Users may get access to the service by searching “Tencent Credit” within WeChat, complete real-name authentication, bind his/her mobile phone number to… Read More

China: WeiyangX Fintech Review

P2P lending platform Dianrong Secures $70 million D-round funding On January 24th, online lending platform Dianrong.com announced 70 million US dollars D-round funding. This round of investment was led by ORIX’s wholly-owned-subsidiary ORIX Asia Capital Co., Ltd.. CITIC Securities CITIC Securities subsidiary CITIC Lyon also… Read More

China: WeiyangX Fintech Review

Tencent Wins Third-Party Fund Sales License On January 2, 2018, the Shenzhen Securities Regulatory Bureau issued this year’s first fund sales license to internet giant Tencent Holdings, or more specifically Teng An Information Technology (Shenzhen) Co., Ltd. According to the document, the company was allowed… Read More

China: WeiyangX Fintech Review

CBRC Rumored to Suspend Private Banks’ Online Lending Activities 2017 marks the third anniversary of China’s private banks. Over the past three years, 17 private banks have been granted operation licenses. However, as the volume of these new institutions grew, the overall financial regulatory environment… Read More

China: WeiyangX Fintech Review

Robo-advisors Now Required to Gain License to Operate in Mainland China On November 17th, top financial regulators in mainland China (including PBOC, CBRC, CSRC, CIRC and SAFE) released a new set of rules covering the country’s asset management market. It is the first time that… Read More

Manigo Wants to be the WeChat of Europe, Plans Crowdfunding Round

Manigo describes itself as the “world’s first digital money platform for consumers, businesses and merchants.” Manigo says it will provide a seamless 360° experience for all of their users. The company says its goal is to become the Euro version of WeChat, Tencent’s incredibly successful… 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

Online Marketplace Lenders Banned from Lending to College Students in China On September 6th, Zhao Jianjun, deputy director of the Department of Finance at Ministry of Education, announced at a press conference that online marketplace lenders are banned from lending to college students in China…. Read More

Apple is Now Partnering with WeChat Pay in China

In a local announcement, Apple added WeChat Pay, part of Tencent, for payments in its App store and online music. WeChat is a social network similar to Twitter that has evolved into providing additional services. Apple already accepts Alipay, part of Alibaba, for payments on… Read More

Wirecard Partners with WeChat Pay to Allow European Retailers Access to 938 Million Users

Wirecard has announced an agreement with Tencent’s WeChat Pay, one of the leading mobile payment solutions in China. WeChat or Weixin are deeply integrated into Chinese people’s daily life with a combined monthly active users of over 938 million. The mobile payment solution, WeChat Pay, has… Read More

Stripe Launches in Hong Kong & Announces Partnership With WeChat & Alipay

On Monday, Stripe announced it is officially launching its services in Hong Kong. The payments startup revealed that local companies can now access the full Stripe features such as Stripe Radar, Connect with Custom accounts, and 3D Secure support. “While in preview, we’ve been able to work with many of the fastest-growing… Read More

Did Know that 80% of Wealth Managers in China Use WeChat?

This is kind of interesting. A report provided by MyPrivateBanking in Switzerland entitled Digital Wealth Management in Asia: Focus on China and India, states that 80% of leading wealth managers in China use WeChat. In India, 40% of leading Indian wealth managers connect clients to advisors through mobile… Read More

Alibaba Must Acquire Starbucks, WeWork, Airbnb, Uber, Tesla & PayPal

During July 2016, I was part of a delegation of US Fintech executives visiting our counterparts in Hong Kong, Shenzhen, and Shanghai, China. We toured and visited some of the most exciting Fintech platforms in China such as LuFax, CreditEase, Tencent (the creator of WeChat),… 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

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

Now Available in China: Global Fintecher Payza Reveals New E-Wallet Options

Online payment platform Payza announced that its members in China can now utilize their Payza e-wallets using WeChat, UnionPay, and ePayLinks. Chinese Payza members may also now perform online transactions in Chinese Yuan Renminbi (CYR). The company has offered basic services in China since 2012, however, this is… 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