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555

Hong Kong Issues More Online Banking Licenses

via PYMNTS

The banking regulator in Hong Kong has issued an additional four online-only banking licenses to Ping An, Alibaba, mobile phone maker Xiaomi and a joint venture (JV) consisting of Tencent, ICBC and Hillhouse Capital.

Reuters is reporting that this totals eight total licenses handed out by the government.

The Hong Kong Monetary Authority, which handed out the licenses, expects the banks to launch in about six to nine months. The new ventures would be closely regulated, with special attention given to customer reactions and the response of the banking industry. (more…)

Banks, Hong Kong, InspirAsia, Mobile-first banks

May 9, 2019

2295

In China, Traditional Banks Fight Challenge From Internet Firms

By Saibal Dasgupta for Voa News

China’s online finance companies, including Alibaba and Tencent, are competing fiercely with China’s traditional banks, which are adapting to the new marketplace. (more…)

Banks, China, Global trends, Government activities, InspirAsia

May 5, 2016

2860

Alibaba advances: How China is using fintech to take control of global trade

By Ian Allison for International Business Times

The global fintech ecosystem has been presented like the board game Risk, with banks, fintech startups, traditional IT providers and GAFA companies (Google, Apple, Facebook, Amazon), distributed at each corner slowly advancing. As apt as the Risk analogy is, it tends to miss out the most important geopolitical force on the board: China.

(more…)

Fintech news, Global trends, InspirAsia, news

April 27, 2016

1919

Alibaba’s Ant Financial Raises $4.5 Billion In World’s Largest Private Tech Investment Round

By Rahil Bhagat for Forbes Asia

Alibaba’s Ant Financial Services Group, one of the world’s largest online financial services companies, announced today that it has completed a US$ 4.5 billion Series B round of financing.

(more…)

China, Deals, Fintech news, Global trends, InspirAsia

April 26, 2016

1633

A Chinese fintech behemoth is getting ready to go public

By Daniel Roberts for Yahoo News

Ant is a misnomer for one Chinese fintech company. (more…)

Deals, eWallets, Fintech news, Global trends, InspirAsia

April 22, 2016

1806

Alibaba pours a total of $1B into Southeast Asia e-commerce platform Lazada

By Catherine Shu for techcrunch.com

Alibaba just took a big step in its Southeast Asian expansion journey. The company said today that it has pumped a total investment of about $1 billion into Lazada, in a deal that makes it the e-commerce platform’s controlling shareholder. (more…)

Deals, Global trends, InspirAsia

April 12, 2016

2843

The ‘next Alibaba’ has a B2B2C business model

By David Rowan for the Wired.co.uk

At the IngDan Experience Center, in the Geosciences Research Centre in Shenzhen’s Nanshan District, you can play with smart diapers, the USENSE badminton swing sensor and Coolpeds motorised luggage. (more…)

About, China, Fintech news, Global trends

March 18, 2016

2045

Infographic: How much are Asia’s biggest tech companies really worth?

By Eric Crouch for techinasia.com

Once you get into the realm of tens of billions of dollars, things stop making sense. The numbers are just so mind bogglingly huge that any sense of scale goes out the window. (more…)

Fintech news, Global trends, InspirAsia

March 18, 2016

1287

Alibaba’s Ant Financial raising new funding at $60B valuation ahead of IPO

By Jon Russell for Techcrunch

Ant Financial, the Alibaba affiliate that manages hugely popular payments service Alipay, is raising a new round of financing that could value the company as high as $60 billion ahead of a much-speculated public listing. (more…)

Fintech news

March 8, 2016

2649

Why China’s fintech will change how the world thinks about banking

By Zennon Kapron for Forbes

With digitalization and FinTech high on the banking agenda, the disruption of financial services looks like a given. The question, however, is where will the real change come from. Will it be blockchain, real-time settlement, the highly competitive payment space, crowdfunding, or P2P lending? (more…)

Analytics, Fintech news, news, SME

March 2, 2016

2041

More P2P trouble as Chinese online lender accused of impersonating Jack Ma

By C.Custer for Techinasia.com

Before the lunar new year holiday, China’s massive online P2P lending market was somewhat in disarray. A cloud of doubts were crystallized when a police investigation of Ezubao, previously one of the scene’s top companies, discovered it was a Ponzi scheme. Banks started cutting off ties to the sector, and regulators were circling. The holiday offered a brief respite, but the return to business in China has brought with it more bad news for the sector. (more…)

Cashless, China, Fintech news, p2p-payments, p2p/online lending

February 16, 2016

2045

How Alibaba is helping Paytm think differently about ecommerce in India

By Meghna Rao for TechinAsia.com

Paytm has had a unique approach to ecommerce in India. Originally launched as a site for mobile phone top-ups in 2010, the name is an abbreviation for “pay through mobile”. It soon pivoted to become an online wallet and, four years later, it launched an ecommerce site. (more…)

Cashless, China, eWallets, Fintech news, InspirAsia, SME

February 11, 2016

Alibaba’s wallet app to give away $120m in live TV tie-up

By Steven Millward for TechinAsia.com

Alibaba and its mobile wallet app Alipay will give away US$120 million to viewers of the Chinese New Year TV extravaganza in China on February 7. (more…)

Cashless, China, Fintech news, InspirAsia, p2p/online lending

February 10, 2016

1540

WeChat is 5 years old. Here’s how it’s grown

By Steven Millward for techinAsia.com

WeChat was born five years ago today. Here’s our potted history of China’s most essential app. (more…)

Fintech news

January 21, 2016

1382

Deals: JD Finance Lands $1B Led By Sequoia China At $7.1B Valuation

Alibaba isn’t the only e-commerce service in China with a financial services arm capable of raising large amounts of external funding. While Alibaba’s Ant Financial raised an undisclosed round last summer at a colossal $45-$50 billion valuation, its rival e-commerce giant JD.com’s money-focused unit is also in the money after it took in RMB 6.65 billion (around $1.01 billion) from a clutch of high-profile investors. (more…)

Deals, Fintech news

January 17, 2016

Alibaba’s Finance Arm Said to Seek at Least $1.5 Billion

By Bloomberg news,

Alibaba Group Holding Ltd.’s finance affiliate is seeking at least 10 billion yuan ($1.5 billion) in a second round of fundraising ahead of a planned initial public offering, a person familiar with the matter said. (more…)

Deals, Fintech news, p2p-payments

January 4, 2016

7005

4 BEST CASES OF O2O-ECONOMY: BURBERRY, LINE, TESLA, CHEBANCA!

By Igor Pesin, Partner at Life.SREDA

(more…)

Columns, Fintech news, news

October 19, 2015

1730

Magic Caves of Alibaba

TECHINASIA: Alibaba’s spin-off finance subsidiary, Ant Financial, today put out a major new update to its Alipay mobile wallet app. For the first time, the mobile wallet now has ecommerce merchants and shopping baked right into the app. It means that within Alipay, which is China’s top mobile wallet service with over 400 million annual active users, people can now find local services like fresh flowers or food delivery – and then pay for it all in the same app. As in Alibaba’s other marketplaces, all the things are from third-party sellers.

(more…)

China, eWallets, Fintech news, InspirAsia, news

July 8, 2015

1545

Alibaba Steps Up Asia Logistics Presence With New SingPost Investment

FORBES: China’s Alibaba Group is deepening ties with Singapore’s national postal service provider SingPost, as the e-commerce titan seeks to grow its international businesses. Alibaba, which last year invested $249 million for a 10.35% stake in Singapore Post Ltd, has agreed to spend another $138.6 million to acquire an additional 5% stake. The company will hold 14.51% of SingPost upon completion of the deal, which is subject to the approval of SingPost shareholders and Singaporean authorities, Alibaba announced in a statement today

(more…)

China, InspirAsia

July 8, 2015

1621

Singapore’s Fintech

E27.CO: Singapore-based real-time financial monitoring app Call Levels is raising a US$500,000 bridge round to spur growth, e27 has learned. The round, which is still open but partially committed, is expected to close in the coming weeks. (more…)

Deals, InspirAsia, Singapore

July 3, 2015

1623

How Widely-Accepted Are Mobile Payment Methods In China’s Brick-And-Mortar Shops?

TechInAsia: Mobile payment methods like Alibaba’s Alipay and Tencent’s Tenpay account for a huge portion of China’s online transactions. But do these new payment methods have the same kind of traction on offline shops and restaurants? Chinese tech news site Techweb recently conducted a survey of 1,607 businesses on a busy pedestrian street in Wuhan to find out. (more…)

China, InspirAsia, Mobile payments/banking

June 30, 2015

2042

Baidu To Invest $3.2 Billion In Its Group-Buying Service Nuomi

TechCrunch: China’s Baidu, the company best known for its dominant search engine, said today that it will invest more than $3 billion in its online-to-offline businesses over the next three years. (more…)

China, Deals, InspirAsia

June 30, 2015

2345

China Pouring Money Into America’s Hottest Startups

TechCrunchJD.com has become the latest internet company in China to venture into the consumer credit space, after the NASDAQ-listed online retailer — a rival to Alibaba — launched a joint venture alongside LA-based financial services company ZestFinance. (more…)

China, InspirAsia

June 26, 2015

1656

E-Commerce Gold Rush In Southeast Asia

TECHCRUNCH: There’s a myopia blinding e-commerce players to the reality of opportunities in Southeast Asia. Everyone is looking at Asian economies from under the shadow China casts on the economic landscape, which can’t help but obscure the picture. (more…)

China, InspirAsia

June 22, 2015

2101

Alibaba confirms government investment for its Alipay and online banking business

Techinasia: Alibaba revealed this afternoon that its finance subsidiary, Ant Financial – which runs Alipay, China’s top online payments service – has received an investment from China’s state-run National Social Security Fund (NSSF). The funding amount is not disclosed.

(more…)

China, Fintech news, Hong Kong, InspirAsia, news

June 19, 2015

1936

India: Paytm Is Bringing In Sellers from AliExpress, AdStringO And FundsIndia Announce New Rounds

International Business Times: Paytm, which has recently forayed into online retailing business, is planning to bring in 1,00,000 sellers from Chinese e-tailer Alibaba’s online arm AliExpress to its platform from August. The Delhi-based company estimates its gross merchandise value (GMV) to increase by $1.5 billion from AliExpress businesses in the next six months. Paytm, originally a mobile payment services, has crossed $1.5 billion (about ₹9,600 crore) in GMV in the year ending April 2015. (more…)

India, InspirAsia

June 18, 2015

1449

Big Banks Flock To London’s Financial Start-up Hub

An article about the largest European fintech incubator hosting over 173 (!) companies. Major banks, for example, UBS, and technology vendors IBM and Microsoft collaborate with the incubator. Chinese e-commerce giant Alibaba has just moved into one building with Level39 (more…)

Fintech news, news

May 20, 2015

1938

Alibaba Launches Market To Shoppers Services Via Mobile App

THE PAYPERSAlibaba Group has recently introduced a mobile app, Miao Street, that can help stores market to shoppers services, provided that stores accept Alipay payment method. (more…)

China, InspirAsia

May 14, 2015

1454

Alibaba Needs To “Globalize,” Says Its New CEO

TECHCRUNCH: The bulk of Alibaba’s revenue still comes from China, but the e-commerce giant will focus aggressively on growing its global business this year. Daniel Zhang, who took over as chief executive officer last week, told employees in in a recent speech that not only will Alibaba pour money into its global businesses, but also transform its company culture. (more…)

China, InspirAsia

May 13, 2015