WeChat Pay
Great news for those traveling to China! You can finally enjoy the seamless, cashless payment experience that you may have heard about for years and avoid the awkward interaction of…
China’s central bank digital currency takes a bigger place on WeChat’s platform
For the last few years, China’s central bank has been trying to ramp up the adoption of digital yuan, or e-CNY, which forms part of the country’s monetary base, M0.…
China’s billionaire tech boss Jack Ma plans to cede control of Ant Group, the fintech powerhouse closely affiliated with Alibaba, the e-commerce giant he founded, The Wall Street Journal reported…
NayaPay secures $13 million, largest seed funding in South Asia for its messaging and payment app
Pakistan-based fintech platform NayaPay has raised $13 million in a seed round to roll out its multi-service messaging and payment app, and to build payment acceptance and financial management tools…
China’s digital yuan wallet now has 260 million individual users
One of the fastest-growing apps in China right now, by installs, is the central bank’s digital yuan wallet: 261 million individual users (as opposed to enterprises), about one-fifth of the…
Over the last few months, PayPal has been quietly gearing up for its expansion in China. At the recent Boao Forum for Asia, China’s answer to Davos, the American payments…
A string of recent events in China’s payments industry suggests the duopoly comprising Ant Group and Tencent may be getting a shakeup. Following the abrupt call-off of Ant’s public sale…
Tencent’s WeChat Pay and Alibaba’s affiliate Alipay have long dominated digital payments in China, but they have always faced new challengers. The latest entrant in online payments is Douyin, TikTok’s…
Featured Article
What China’s fintech market can teach the world
If you want to know what the future of finance looks like, head east, where it’s already been laid down in China. Digital payments through mobile phones are ubiquitous, and there is incredible innovation around lending, investments and digital currencies that are at the vanguard of global financial innovation. Take the cover photo of this…
Ant Group could raise as much as $34.5B in IPO in what would be world’s largest IPO
The long-anticipated IPO of Alibaba-affiliated Chinese fintech giant Ant Group could raise tens of billions of dollars in a dual-listing on both the Shanghai and Hong Kong exchanges. Shares for…
WeChat Pay and Alipay partner QFPay raises $20 million to develop new digital payment solutions
Digital payments startup QFPay announced today that it has raised $20 million in new funding led by returning investors Sequoia Capital China and Matrix Partners. MDI Ventures (the investment arm…
Chinese consumers were quick to adopt digital payments, and a recent shopping binge showed they are ready for another leap: biometric payments. On November 11, Alibaba wrapped up Singles’ Day…
Stripe adds support for Alipay and WeChat Pay, China’s top digital payment services
Payment enabler Stripe just announced two significant tie-ins that could help its pool of merchants make money from consumers in China. U.S. firm Stripe said today that it has agreed…
Banks should not underestimate Facebook Messenger
The potential for chat apps in financial services is by no means limited to social payments. Facebook has already confirmed that they are pursuing Wechat’s success, venturing into eCommerce. This…
Circle takes $60M to grow its social payments biz globally, as it steps into China
How do you compete with China’s homegrown social payments giants? Veteran entrepreneur Jeremy Allaire, co-founder of US based social payments app Circle, reckons you don’t; not like for like in…
