Personal credit ratings in China have never been a pretty subject. Without a centralized credit database accessible to all, getting accurate credit information has proved challenging for any company in China providing loan products. With Ant Financial, the financial arm of Alibaba, launching Sesame Credit, we felt it was worth taking a second look at what might be happening here.
December 12th, 12/12, or Double 12, was Alibaba's sequel to the highly successful Singles Day (November 11th). The difference this time though was the incredible focus on and success of the online-to-offline commerce push.
Alibaba is yet again launching another investment product, and this time it will give its Alipay customers the option to invest in gold.
The new version of the popular Chinese payment app Alipay now supports Apple’s fingerprint touch sensor for account access and payment authorisation instead of a password.
Alipay is making headway on its promises to expand globally and has now entered into an agreement with several foreign transportation card firms, which will allow Alipay users to buy transport service cards through the Alipay app as they travel abroad.
This is part two of a two part series looking at China Unionpay's launch of Android Pay. Part one examined the potential impact of Android Pay on the mobile payment industry. Today we take a look at China Unionpay's business strategy in the mobile payments space as it launches Android Pay. We also answer the question of why China UnionPay would even be interested in having their own mobile payments app in the first place.
The recent announcement that there are now 190 million Alipay wallet users has confirmed Alipay as a real heavyweight and innovator within the mobile payments industry. What are the barriers for future growth?
Last week, Alibaba’s finance arm rebranded their “Small and Medium Financial Services Company today to “Ant Financial Services Group” or “Ant Financial”.
The launch of Apple Pay will likely have a profound impact on the payments industry in the US and potentially Europe, but what does it mean for China?
With the increasing usage of mobile devices such as smartphones and tablet PCs, mobile internet is becoming a new traffic entry point for many internet players. Alibaba's free wifi deployment will facilitate their entry point.