ChinaRSS

Alipay taps Yelp to enrich Chinese travel experience

Alipay's march across Europe continues

Alipay has inked a slew of partnerships lately. The latest deal for the Chinese app is with Yelp and connects local businesses with Chinese travelers, a move that’s likely to boost loyalty and transaction volume in one fell swoop, reports Paybefore (Banking Technology‘s sister publication). The partnership connects Yelp’s local content to millions of Chinese travelers […]

Geoswift, UnionPay and Western Union vie for Chinese international tuition payments with Amazon promotion

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As students gear up for back to school, the competition for international tuition payments is heating up. Geoswift, UnionPay and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that make cross-border tuition payments using Geoswift’s PayTuitionNow portal.

New state-controlled clearing house to process all payment providers’ transactions in China

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Ant Financial, Tencent and 42 other payments and financial services firms in China have agreed to route their payments transactions through a new clearing house, controlled by Chinese government.

Three more Chinese banks join Swift’s global payments innovation

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Three local Chinese commercial banks have joined Swift’s global payments innovation initiative (gpi), bringing the number of Chinese banks involved to 16, the most in the world, according to Xinhua. The new trio are Yinzhou Bank and Bank of Ningbo in eastern China’s Zhejiang province; and the Bank of Jiangsu, in the eastern Jiangsu province […]

China dreams of AI domination

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The Chinese government has set out its bold vision to become a global leader in artificial intelligence (AI) by 2030. In a Cabinet statement, the government sees AI as integral to making China an “economic power” and is calling for the development of skills, research and educational resources to achieve “major breakthroughs” by 2025 and […]

Nvidia jumps in at the deep end with Baidu AI partnership

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If Nvidia is looking to make a splash in the world of artificial intelligence (AI) it’s going about it in the right way, announcing a partnership with Baidu, one of the world’s largest internet companies. Banking Technology‘s sister publication Telecoms.com reports that cracking the Chinese market is an ambition which almost every technology company around the […]

China’s central bank sets up fintech committee

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The People’s Bank of China (PBOC) has set up a fintech committee, aimed at strengthening financial research, planning and co-ordination. On its website, the nation’s central bank doesn’t offer specifics about the new committee, but says fintech has “injected new vitality”, but also “brought new challenges” for financial security. PBOC will study the impact of […]

UK regulator calls for freedom not free-for-all

FCA keen to explore regtech

Like that lacklustre movie Braveheart, the UK’s Financial Conduct Authority (FCA) says you will never take away our freedom and the chances of a free-for-all for regulations will never happen. In a speech that had more repeats than the UK TV channel Dave, Christopher Woolard, FCA’s executive director of strategy and competition, told the audience […]

HelloPay merges with Ant Financial for AliPay boost

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HelloPay Group, which runs the HelloPay payment platform and online shopping and selling site Lazada, has merged with China’s Ant Financial. Ant Financial, part of Jack Ma’s Alibaba Group, runs Alipay and so HelloPay has now been rebranded as Alipay Singapore, Alipay Malaysia, Alipay Indonesia and Alipay Philippines in its respective markets. Douglas Feagin, SVP […]

China’s CredEX Fintech lending app surges past $4.3bn mark

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China-based CredEX Fintech says its mobile lending app’s total credit extended has exceeded CNY 30 billion ($4.3 billion) since its launch ten months ago. According to the firm, its user base has gone beyond five million, daily credit has been extended up to CNY 100 million ($14.4 million), and the average credit extended stands at […]

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