The short-video company handed out five rounds of virtual “red envelopes” during the live broadcast, totaling a record-breaking 1 billion yuan ($144 million)
PayPal has completed its acquisition of a 70% equity stake in GoPay, making PayPal the first foreign payment platform to provide online payment services in China.
On November 27, 2019, Alipay and Finablr announced a global partnership to provide cross-border remittance services.
On November 27, Xpeng Motors announced that they have signed a deal with Alipay to jointly develop in-car payment functions.
WeChat Pay and Alipay have increased their utility for Chinese citizens by integrating with the country’s national healthcare system.
Tencent has cooperated with five international financial service companies to make it possible to tie overseas international credit cards to WeChat, thus allowing overseas users to utilize WeChat’s payment services.
Ant Financial has announced that their market leading payment platform is now available for all foreign users to pay in China.
Ant Financial, the Chinese payments giant, is in talks to lead a $600 million funding round in India’s leading food delivery app Zomato, people familiar with the matter told the Economic Times.
Alibaba unveiled its first AI inference chip on September 25 at Alibaba Cloud’s annual flagship Apsara Computing Conference.
At Alibaba’s 2019 Investor Day held on September 24, Eric Jing, Ant Financial’s Chairman and CEO, delivered a speech highlighting the company’s recent progress.
Chinese tech giant Tencent is incubating a financial credit product named Fenfu, which functions similarly to a credit card, and is expected to become available through the company’s instant messaging app WeChat.
Chinese multi-purpose messaging app WeChat introduced a new payment device on August 27 named the “Frog Pro” at the Chongqing Smart China Expo in an effort to upgrade its offline payments.
On August 20, Apple officially released a credit card under its own brand in the US. The minimalist white titanium card backed by Goldman Sachs was met with mixed emotions by professionals and casual Apple fans alike.
Alibaba Group announced its financial results for the first quarter of the 2020 fiscal year ended June 30, 2019. The Chinese tech behemoth had a strong quarter across the board, beating estimates on revenue and earnings despite the uncertain market conditions due to the US-China trade tensions.
The tech industry is used to clashes between corporate rivals. Major conflicts between corporate titans usually result in the emergence of a victorious monopoly like Google, or Facebook.