Mobile payment Archives - Page 4 of 5

Tencent Incubates New Financial Product Fenfu to Take on Ant Financial’s Huabei

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.

WeChat Pay and Japan’s LINE Pay Deepen Mobile Payment Cooperation

On September 11, according to WeChat Global, WeChat Pay and LINE Pay announced that they would further deepen their cooperation in the field of mobile payments and begin integrating WeChat Pay with LINE Pay's merchants in Japan.

WeChat Unveils New Device That Allows Customers to Pay with Their Face

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.

10 Must-Have Apps for Travelers and Expats in China

Whether you are a traveler or expat in China, there are a few apps you’ll need to get to enhance your experience in China. We've compiled a list of 10 apps you must download before going to China.

Alipay Expanded Cover Range in Japan

Alipay, a payment and lifestyle platform by Ant Financial, has connected more than 300,000 Japanese merchants as of early 2019, a 500 percent increase compared with last year.

Alipay Partners with Barclaycard as Chinese Tourism Blossoms in the UK

Alipay, the world’s leading payment platform, today announced a new agreement with Barclaycard, a multinational credit card and payment services provider that processes nearly half of the UK’s credit and debit card transactions.

Ant Financial CEO Presents Company’s New Development Strategy

On Sept. 17, Ant Financial announced the company’s technological capabilities, growth strategy, and planned partnerships with financial institutions in hopes of creating long-lasting customer values, enhancing user experience, and establishing a strong growth momentum.

Alipay Seeks Japanese Partners to Bring Cashless Experience During Tokyo Olympics 2020

On Sept. 5, world-leading mobile and online payment platform Alipay announced the intention to collaborate with a wider range of local Japanese partners to build a cashless environment for tourists going to Japan.

Alipay Launches World’s First Paperless Tax Refund Service in South Korea

Alipay, a third-party mobile and online payment platform, announced on August 20 that it has partnered with Global Tax Free (GTF), a tax refund agency, to launch the world’s first paperless mobile tax refund function in South Korea.

Paypal Eyeing Chinese E-commerce Business, Strives for Payment License in China

PayPal has been negotiating incessantly with Chinese regulators for the past four years to obtain a payment license to enter the large market, as The Paper reported on August 10.

Is Germany WeChat’s Backdoor to Western Consumers’ Wallets?

Lately I have been thinking about how Tencent’s WeChat can enter other markets. It has been a tremendous success in China with more than one billion users. Together with Alipay, mobile payment has turned Chinese society from a society where people carry large wads of cash, to one which is largely cashless, all within the […]

Kai-Fu Lee: 9 Years of Sinovation Ventures, Parallel Tech Universes, and VC + AI

This year, Sinovation Ventures will turn nine years old. At a recent press conference, I shared several stories of entrepreneurship over the past nine years. During this time, the world has changed dramatically. The venture capital (VC) industry has become increasingly competitive and the rules of the industry have also changed.

Alipay Unveils Annual Report for Wallet-Free Chinese Users

Mobile payments accounted for 82 percent of all payments on the Alipay platform in 2017, according to an Alipay report published on January 2. Many people in China are going wallet free and using digital payment for their transactions.

Chinese Tourists Purchase a Lot with Alipay and 70 Japanese Banks have Decided to Fight Back

Today, China’s National Day golden week has become a global golden week. Data estimate that more than six million Chinese travel overseas during this year’s National Day holiday. With the steps of Chinese tourists, many foreign merchants have started to use China’s advanced mobile payment methods. If there is no Alipay or WeChat payment, the […]

Jack Ma Just Ate His Own Words

He Swore ‘Never Do Games Business’ While Now Enter Game Industry in High Profile In June 2010, when talking to the then Chinese Premier Wen Jiabao, Alibaba Chairman Jack Ma said, “we firmly believe games couldn’t change China. China pursues single-child policy. If children play games all the time, what will our country be like […]

More details about Alibaba’s investment in Cainiao

On September 25, in a bid to further fuel the progress of its “new retail” strategy, Alibaba announced that it intends to raise its stake in its affiliate—Cainiao Network and pledged 100 billion yuan investment in next five years to the logistics arm that had already received tens of billions yuan to expedite leading global […]

Alipay is now available at all Chinese Starbucks stores

On September 25, Starbucks and Alipay announced cooperation. Finally, the Starbucks will accept the payment system at over 2,800 of its cafes across China. “The days that we receive complaints from customers at Starbucks are over.” Alipay declared in its official weibo account. Alipay is available at over 3,200 Starbucks stores worldwide “Do you accept […]

Ant Financial will launch Face ID for package pickups

On September 14, Alipay and Cainiao Global held the Global Logistics and Supply Chain Conference (GLSC) in Shanghai, and announced that they will provide services for SMEs form the most basic payment to marketing, credit, and finance businesses. At the same time, the Ant Financial will use face recognition technology in the logistics industry, so […]

Tencent and Alibaba Announces a Music Copyright Cooperation

Tencent and Alibaba reached an agreement on music copyright cooperation and granting exclusive music licensing rights to each other. This cooperation casts a massive shadow on another popular music streaming app in China—NetEase Music. With its IPO drawing near and the recent news of its new round of financing (worth about 300 million USD), Tencent […]

KFC supports facial recognition payment in China now

On September 1, Yum China announced it opened launched a new restaurant concept—KPRO in Hangzhou. KPRO, a subsidiary brand of KFC, provides a younger generation with seasonal menus and modern and immersive dining experience through digital technology. “KPRO prepares innovative, made-to-order, seasonal menus for China’s fast-rising white collars. Meanwhile, tech savvy consumers who are keen […]

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