China
3 Ways China’s Bigtechs are Helping to Tackle the Coronavirus Crisis
In the midst of the global health crisis involving the novel coronavirus (2019 nCoV), China’s bigtechs including Tencent and Ant Financial, the financial affiliate of e-commerce giant Alibaba, have deployed solutions and set up financial aid programs to help combat
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China Releases Facial Recognition Payment Guidelines Amidst Growing Privacy Concerns
Amid growing adoption of facial recognition payments, the Payment & Clearing Association of China has released self-discipline guidelines aimed at tackling associated risks, reports Chinese media outlet Caixin. The guidelines detail several principles related to user consent and data collection
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Embedded Finance Crucial for Future of Fintech
Technology is transforming the banking and financial services industry and this is just the beginning. As the sector moves towards open banking and APIs, banks will need to collaborate with fintechs to remind relevant and address the many challenges arising,
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Ant Financial to Host Major Fintech Conference in Shanghai
Ant Financial best known for its payments platform Alipay, today announced the launch of the INCLUSION Fintech Conference, an event that aims to bring together the global financial and technology community, to envision the future of a world that’s more
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Western Union to Enable Money Transfers to 150M Du Xiaoman Financial App Users in China
Western Union customers will now be able to have their money transfers to China accounts be paid out in real-time to majority of bank account holders — this is thanks to a partnership between Western Union, Du Xiaoman Financial and
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WeChat’s Mini Programs Exceeded 800 Billion RMB Total Transaction Value
Tencent’s WeChat team today celebrated WeChat Mini Programs’ 3rd Anniversary by revealing that total transaction value generated on Mini Programs has exceeded 800 billion RMB in 2019, an increase of 160% year-on-year and a clear demonstration of the platform’s tremendous
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Why China Leads the World in Blockchain Development and Adoption
Blockchain has become a national priority for China both in the public and private sector. This is further accelerated thanks in part to president Xi Jinping who recently proclaimed the technology as an important breakthrough. Efforts to launch a central
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Ant Financial and US-Based Vanguard to Offer Investment Advisory for Retail Consumers
Vanguard, the $5.9 trillion U.S.-based asset manager, and Ant Financial Services Group, Alibaba’s fintech arm, announced a partnership to bring a new streamlined and broadly-available investment advisory service to retail consumers in China. Combining Alipay’s technology and Vanguard’s expertise in
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The Greater Bay Area is Home to 43 Unicorns Valued at a Combined US$1.1 Trillion
The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) is home to 43 unicorns valued at a combined US$1.1 trillion. These unicorn focus on five key industries: e-commerce, healthtech, robotics, fintech and biotech, according to a new whitepaper by WHub, Hong Kong’s
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China’s P2P Lending Sector Is Coming to an End
Every peer-to-peer (P2P) lending platforms in China must become small loan providers within two years, according to an official notice issued by China’s Internet Financial Risk Special Rectification Work Leadership Team Office. It also states that all outstanding loans must
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