Chinese regulators consider AliPay and WeChat antitrust probe
The People’s Bank of China is serious about curbing the giants’ dominance.
China
WeLab Bank launches in Hong Kong
The challenger is offering users a numberless debit card.
Catering to China’s small-time exporters
Bill Deng, CEO of XTransfer, unpacks how banks have snubbed a large number of long-tail customers.
Mastercard extends cross-border services in China with Bank of Shanghai
Businesses can use Mastercard to transfer to “any local bank” in China.
Morgan Stanley blocks remote network access for China interns
Its decision to deny remote access to its China-based interns makes it an outlier among its US peers.
Chinese fintech Lufax targets $3bn in US IPO
Sources highlight that political tensions between the US and China could affect its listing plans.
China Bohai Bank plans IPO worth $1.7bn
Chinese commercial bank buoyed by good 2019 results.
Taking stock of China’s COVID-19 payments processes
If you think COVID-19 has largely been a boon to real-time payment in China, think again.
Alibaba’s Ant plans Hong Kong IPO
“It is looking at selling between 5% and 10% of its shares in an IPO,” according to sources.
MoneyGram makes another move into South Korea
The remittance firm wants a “leading” position in South Korea’s P2P remittance market.
Chinese lenders suffer two bank runs in a week
China has relied on these local lenders amid the coronavirus crisis.
American Express first foreign credit card player to launch in China
AmEx won initial approval in 2018 for a bank card clearing licence in China.
China’s largest bank rolls out more deposit services with Alipay
Alipay has been collaborating with ICBC since March 2005.
UBS to set up fintech venture fund to speed up its digitisation
The bank will make investments between $10 million and $20 million.
WeChat to offer credit scoring to its 600m users
Th Big Tech will attribute “payments points” to determine a “trust” value.
UBS vies for Chinese digital bank licence
The rules are designed to ease foreign access to China’s financial market.
Tencent buys 5% stake in Aussie fintech Afterpay
It puts Afterpay at a market capitalisation of more than AUD 8 billion ($5.1 billion).
Singtel’s NCS and NETS to develop electronic payments platform for central banks
The firms will also create a “next-generation” suite of central banking products.
Chinese tech giant Huawei to launch new consumer credit card
Chinese manufacturer borrows a selection of Apple Card features for new product.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
China calls on banks to lend more aggressively to small businesses
Analysts say cheaper loans will help the broader Chinese economy weather the current slowdown.
Will Asia’s Big Tech European expansion stick?
Asia’s mega funding rounds make Europe’s look like child play.
Wirecard expands ecommerce partnership with WeChat Pay
European merchants can integrate WeChat Pay “in just a few minutes”.
TransferWise teams with Alipay in latest Asian expansion
TransferWise customers just need the recipient’s name and Alipay ID.
Step aside China, it’s Southeast Asia’s turn in the spotlight
The region is full of promise and possibility for investors and entrepreneurs alike.
Alipay plans digitisation for 40 million Chinese service providers
The move marks a shift in the business from financial to digital services.
China leads the way in adoption of ISO 20022 for payments
PBOC published its ISO 20022 migration plan as long ago as 2011.
Is the future of banking not open but closed?
Europe and USA have to create their own ecosystems to compete with the East.
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
PPRO gives Europe’s merchants access to Chinese shoppers with UnionPay
The Chinese ecommerce market is currently valued at more than $1 trillion.
The impact of COVID-19 on the Chinese market
The effects of the coronavirus on the local fintech market isn’t all negative.
Inaccuracies of facial recognition: security, prejudice, pollution and fashion
The issue of accuracy is one which is often cited but rarely explained.
HSBC to cut 35,000 jobs in a major restructure to boost returns
Job loss figure more than triple the number expected to be cut by the bank.
Guotai Junan International updates derivatives tech with Finastra
Hong Kong firm goes live on Fusion Sophis.
Industry undecided on UK’s fintech funding success
The industry is undecided over roughly $1 billion dollars.
WorldRemit ties up cross-border remittance partnership with Alipay
London-based firm gives users green light to sent money to Alipay wallets.
Chinese regulators planning digital banking go-ahead
New set of rules could see a bevy of digital challengers in China.
Ping An Technology builds innovation lab with Intel to boost cloud tech
The lab will also “supercharge” Ping An’s AI-based services.
Tencent brings third player UnionPay to China’s mobile payments arena
UnionPay’s QuickPass serves just 240m users, whilst 1.2bn use Tencent’s WeChat.
China drafts rules to tackle risky half a trillion financial leasing sector
Only 2,985 of the 10,900 leasing firms in China are active businesses.
