Lending
PayPal Makes Japanese BNPL Play With Paidy Acquisition for US$2.7 Billion
PayPal announced that it has agreed to acquire Paidy, a Japanese buy now pay later solutions (BNPL), for ¥300 billion (approximately US$2.7 billion) and the transaction is expected to close in the fourth quarter of 2021. The acquisition will expand
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ZA Bank Rolls Out Interest-Free Payday Loans for Beta Users
Hong Kong’s virtual bank ZA Bank announced the launch of “Salary FastPass”, an interest-free early payday product in Asia that allows users to get their monthly payroll up to 7 days in advance. ZA Bank said that the Salary FastPass seeks
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Airstar Bank Expands Its Banking Services for SMEs With Loan Offering
Xiaomi and AMTD’s virtual bank Airstar has launched another stage of its pilot trial which features the SME Easy Pay Loan offering to bring a faster and more convenient loan experience to small and medium enterprises (SMEs) This comes on
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Mox Bank Takes a Slice of the BNPL Pie With Its Latest Offering ‘Split’
Virtual bank Mox has launched a new Buy Now, Pay Later (BNPL) feature on Mox Credit called ‘Split purchase’. Mox Credit customers can split eligible transactions of HKD400 or more into equal monthly instalments, ranging from 3 to 36 months.
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Livi Bank Hops on the BNPL Bandwagon With the Launch of Livi PayLater
livi bank, one of Hong Kong’s eight virtual banks, has introduced a new Buy Now, Pay Later (BNPL) solution with the launch of livi PayLater that offers an instant instalment service with a virtual Mastercard debit card. The livi PayLater
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Virtual Bank ZA Enters the SME Market
ZA Bank announced the launch of their business banking which they say leverages “ZME Revolving Loan”, an unsecured business revolving loan, to help small and medium-sized enterprises (SMEs) of various industries overcome business constraints. In their media statement, they said
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Alibaba’s Online Bank Unveils Five-Year Plan to Acquire More SME Customers
MYbank, the digital bank under Ant Group (formely known as Ant Financial) which is part of the Alibaba Group, today announced a five-year plan to reach more small and micro enterprises (SMEs) across China via supply chain finance and rural
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South Korea’s Rapidly Growing P2P Lending Industry Faces Scrutiny
With a mushrooming delinquency rate and investment fraud allegations, South Korea’s rapidly growing peer-to-peer (P2P) lending industry has come under scrutiny. Over the past couple of years, the delinquency rate, or the percentage of loans that are past due, has
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How WeChat Pay Determines If You Are Trustworthy With Their Credit Score
WeChat Pay, Tencent’s mobile payments system integrated into the WeChat super-app, has told its users that it will be giving them a credit rating, called “Payment Points.” The system leverages artificial intelligence (AI) and uses users’ data collected from the
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Lending Activity Decreases and Loan Defaults on The Rise in Hong Kong Amid COVID-19
The newly-released TransUnion Q1 2020 Industry Insights Report shows that COVID-19 has severely amplified the impact of the 2019 Hong Kong recession, and started to shape the consumer credit market in a number of distinct ways. With economic conditions worsening
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