Tag "WeChat"

How Tencent is Trying to Fill China’s US$805 B Insurance Gap Using Social Media

Over the past years, China’s Internet giant Tencent has been expanding its strategic positioning in the insurance industry. The Chinese firm’s latest move has been to lead Xiaobang Guihua’s RMB 200 million (US$28.4 million) Series B equity funding round in

Read More

How China’s Virtual Banks Are Offering Loans to Micro-Businesses Within Minutes

In China, online lenders are filling the credit gap, leveraging cutting edge technology including artificial intelligence (AI) to make lending decision in just a second. E-commerce giant Alibaba’s MyBank and Internet conglomerate Tencent’s WeBank, have dramatically changed the domestic financial

Read More

LINE Pay Begins Integrating WeChat Pay

LINE Pay Corporation, operator of the LINE Pay mobile money transfer and payment service available on the LINE messaging app, announced recently that its merchants have been integrating WeChat Pay since early August. Once system integration is complete, WeChat Pay

Read More

WeChat Pay Will Start Terminating Accounts Caught Dealing with Crypto

WeChat Pay, one of China’s most popular e-wallet providers, has just updated its payment policy to ban cryptocurrency transactions. The move was first noticed by founding partner of crypto investment firm Primitive, Dovey Wan in a tweet. Urgh, Wechat just

Read More

China E-Commerce Industry Enters “New Retail” Era

The Chinese retail industry is entering a “new retail” era, characterized by the widespread use of technologies such as artificial intelligence (AI) and big data to digitalize the entire value chain, according to PwC. China is the world’s biggest consumer

Read More

A New Record-Breaking Year for WeChat Red Packets

Tencent said they wouldn’t participate in the “Red packets” (红包 / Hongbao) war this year. …well, they won it anyway! Key highlights: 14.2 billion red packets sent in 24 hours, 76% year over year growth! 760,000 were sent in 1 second Guangdong is the province which

Read More