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Europe Fintech News Roundup USA

·Mar. 26, 2019

A Wave of Consolidation in Payments Continues

In the last 18 months there has been a wave of consolidation in the payments sector and that trend looks...

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Fintech News Roundup

·Apr. 20, 2017

Alibaba’s Alipay and Tencent’s WeChat Processed over $3tn in 2016

According to a report from UN-based Better Than Cash, between Alibaba's Alipay and Tencent's WeChat, customers sent over $3 trillion in payments in 2016; the chart above shows how far the services have come since 2012; percentage of digital payments (online & mobile) went from 3.5% to 17% of all transactions over the same time period; Alipay and WeChat own 63% of the market for digital payments. Source

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Fintech News Roundup USA

·Oct. 23, 2017

Alipay and Marqeta Strike Partnership

Alipay and Marqeta partner on real time payment processing for Chinese travelers visiting North America; Marqeta’s platform will facilitate payment processing at retail locations across the continent; Jason Gardner, CEO of Marqeta tells Crowdfund Insider, “The Marqeta platform will ensure a seamless user and merchant experience across the U.S. that Alipay’s customers need when traveling and shopping abroad.” Source.

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Europe Fintech News Roundup

·Jan. 22, 2019

Alipay Granted eMoney License in Luxembourg

Alibaba’s Alipay was granted an eMoney license in Luxembourg to allow the company to serve customers across Europe; the eMoney...

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Fintech News Roundup USA

·Mar. 29, 2019

Alipay is Not Yet Looking to Launch for U.S. Customers

Chinese tourists are able to use Alipay at more than 200,000 U.S. locations but the company does not have plans...

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Asia/Pac Fintech News Roundup

·Aug. 16, 2017

Alibaba to Cash in on Japan’s e-Payment Market

Alibaba will bring a version of its smartphone-based payment platform to Japan as early as 2018 spring; the Japanese unit of Ant Financial will offer a version of the Alipay digital payment system tailored for the Japanese market under a new brand. Source

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Fintech News Roundup USA

·Oct. 23, 2017

Alipay and JPMorgan Chase Working Together

The proposed relationship would allow Chinese consumers traveling to the US to use their Alipay Mobile Wallet; Pablo Simone, head of product and strategy for Chase Merchant Services stated, “We are always looking for ways to deliver more value to our merchants and bring them closer to their customers. A relationship with Alipay would create opportunities that enable Chinese tourists to transact in a way they are familiar with.”; it is estimated that four million Chinese consumers will visit North America this year. Source

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Fintech News Roundup

·Jan. 21, 2020

Alipay Executive Chairman Calls for More Cross-Border Cooperation

Writing an opinion piece in the FT Executive Chairman of Alipay Eric Jing calls for increased cooperation amongst companies even...

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Fintech

·Jul. 16, 2020

Alipay Has More than 1 Billion Annual Active Users

A new filing from Alibaba, who owns 33 percent of Ant Financial, reveals that Alipay claims to have 1.3 billion...

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Fintech News Roundup

·Mar. 20, 2018

Alipay Now Available in Mexico

Alipay has partnered with Openpay in Mexico to further their expansion into the Americas; users of Alipay will now be able to use the service to make purchases at businesses that are affiliated with Openpay; Souheil Badran, President of Alipay Americas stated, “An increasing number of Chinese consumers are shopping for products in Mexico that they can’t find at home, and they want to be able to purchase those items with the payment method they use most often. Our partnership with Openpay not only connects Mexican merchants with Chinese consumers seeking their products and services, but also opens new revenue channels for merchants in Mexico. We are thrilled to be partnering with Openpay as we continue to expand the reach of Alipay throughout the Americas.” Source

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