Yang Qianqian holds out her smartphone to scan a barcode on the mobile of a vendor selling fresh fruit and vegetables at a bustling outdoor market in Beijing. The dance student is part of an explosion in the use of mobile payment platforms in China as consumers increasingly take out phones instead of cash to … Read more
Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of soaring growth in online shopping. Alibaba, which has made billionaire founder Jack Ma one of China’s richest men, is a dominant player in online commerce and its robust earnings highlight the strength of the sector even … Read more
Alipay, the Chinese digital payment giant owned by ecommerce giant Alibaba, is expanding in the US. Customers will be able to use Alipay at about 4 million businesses after a deal was signed with credit card processing service First Data. The deal is chiefly aimed at Chinese tourists visiting North America. It follows a small … Read more
Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880m (£700m).MoneyGram has about 350,000 outlets in nearly 200 countries. Ant Financial has more than 630 million users. The takeover by the Chinese group will need regulatory approval from the US Committee on Foreign Investment. The inter-agency committee reviews foreign … Read more
Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880m (£700m). MoneyGram has about 350,000 outlets in nearly 200 countries. Ant Financial has more than 630 million users. The takeover by the Chinese group will need regulatory approval from the US Committee on Foreign Investment. The inter-agency committee reviews … Read more
The French department store Printemps launched the service Alipay, one of China’s biggest payment services, at its flagship store on Wednesday, making it the first department store in France to use the service. The Alipay app allows consumers to purchase goods in a fast and easy way by transacting money via the QR code generated … Read more
Alibaba’s third-party payment platform Ant Financial tops the global ranking for the 100 best performing fintech companies. [File photo/Xinhua] China’s financial technology (fintech) firms continue to lead globally, securing four positions in the top five in a recent industrial ranking. Alibaba’s third-party payment platform Ant Financial tops the global ranking for the 100 best performing … Read more