Post Tagged with: "China"

China is the Global Center for Fintech Innovation, says Report

China is the Global Center for Fintech Innovation, says Report

by December 7, 2016 at 11:00 am 0 comments

China has outstripped fintech hubs like London, New York, and Silicon Valley, and is now the global leader in financial innovation, according to a new report released by financial service firm EY and DBS Insights. According to the Rise of Fintech In China report, China has experienced an explosive growth periodRead More

Visa-Alibaba Partnership May Be in the Works as Visa Moves into China

Visa-Alibaba Partnership May Be in the Works as Visa Moves into China

by November 17, 2016 at 4:41 pm 1 comment

When it comes to introducing cashless transactions to new markets across the world, Visa is usually the pioneer. Not so in China, however, according to Visa’s Chief Financial Officer Vasant Prabhu: Normally we go into countries, and we are the ones who are out there, doing the missionary work inRead More

The Big and Scary Prize – Marketplace Lending in China

The Big and Scary Prize – Marketplace Lending in China

by October 19, 2016 at 1:00 am 1 comment

Image source This is a two part investigation. Part two will be on Friday. Big: a big and fast growing middle class and a banking sector that has been asleep at the switch on the consumer side; the idea of China as a consumer market is relatively new and ChineseRead More

MasterCard and Plastiq Enable Faster U.S. Tuition Payments for Chinese Students

MasterCard and Plastiq Enable Faster U.S. Tuition Payments for Chinese Students

by August 11, 2016 at 10:28 am 0 comments

MasterCard launched a new site with card payment service Plastiq yesterday to help Chinese students in the U.S. pay their tuition, even if their schools do not accept credit cards for payments. “For the first time, [Chinese] students will be able to pay in their local currency,” said Plastiq co-founder and HeadRead More

Is Fintech in China Red Hot or Cooling?

Is Fintech in China Red Hot or Cooling?

by July 29, 2016 at 11:31 am 0 comments

It would seem that numbers are making Shanghai the new world capital of fintech. One number is 1.3 billion, which is the population of China. Another number is $2.4 billion, which is the amount of funding that poured into China’s fintech sector in the first quarter. But a closer look reveals some cracks in the facade.Read More

Ant Financial to Sign Up a Third of the World

Ant Financial to Sign Up a Third of the World

by June 14, 2016 at 11:53 am 0 comments

Aim big, they say. Ant Financial did just that. The Alibaba affiliate that operates the digital payments platform Alipay, Ant Financial  said this week it will sign up 2 billion users in 10 years for the pipeline of its fintech businesses. Those include digital payments, wealth management, financing, insurance, andRead More

Samsung Pay Leapfrogs Rivals with Epic Alipay Deal

Samsung Pay Leapfrogs Rivals with Epic Alipay Deal

by May 20, 2016 at 11:30 am 0 comments

Take that, Apple. Samsung Pay may not be available in the United Kingdom yet, but it’s rapidly expanding its reach in China in a March deal with UnionPay, the world’s largest credit card network, and now through a new deal with Alipay. The Seoul-based electronics company announced the deal today. Alipay’s 450Read More

How Payments Is Fueling China’s E-Commerce Megaboom

How Payments Is Fueling China’s E-Commerce Megaboom

by April 20, 2016 at 9:56 pm 0 comments

HONG KONG — The numbers are in “holy *$#%” territory. “The numbers” are for e-commerce sales in China, and they are astounding. In the first two months of 2016, China’s online retail sales hit $98.2 billion, an increase of 27% over the previous year. That puts it on pace to hit around $590Read More

Credit-Scoring Tool Wecash Gains 5 Million Users in 12 Weeks

Credit-Scoring Tool Wecash Gains 5 Million Users in 12 Weeks

by April 11, 2016 at 3:56 pm 1 comment

When services scale in China, they go big. Beijing-based credit-scoring platform Wecash recently counted more than 35 million users. Not too shabby, and even better considering that little more than a year ago, it had just eight million. Its most recent boost came from the Hong Kong-based accelerator Supercharger. Wecash took partRead More

Ant Financial Raises $3.1 Billion on $50 Billion+ Valuation

Ant Financial Raises $3.1 Billion on $50 Billion+ Valuation

by March 8, 2016 at 12:57 pm 0 comments

The name might indicate something small, but Ant Financial is anything but. The spinoff of Alibaba is valued at over $50 billion and plans to raise a heap more, according to the Wall Street Journal. As China’s highest-valued internet finance company, Ant Financial Services Group will raise 20 billion yuan ($3.1 billion) on aRead More