Alibaba RSS

Ant Financial is the world’s most valuable private FinTech company, and grew out of Alipay, the payments system founded by Alibaba in 2004. It also owns Yu’e Bao, the world’s... more

The post Ant Financial – the world’s most valuable private FinTech – heads for IPO appeared first on Payments Cards & Mobile.

Mobile Wallet Market size was estimated to be over $100 billion in 2017 and is anticipated to grow at a CAGR of more than 10% over the forecast timespan of... more

The post Mobile wallet market worth $100 billion set to hit $250 billion by 2024 appeared first on Payments Cards & Mobile.

Since the birth of FinTech there has been a growing anxiety for bank executives as to how and when big tech companies will start to focus on the banking industry. During its... more

The post Banking industry concerns grow as Big Tech turn to FinTech appeared first on Payments Cards & Mobile.

China’s mobile payment market is more than 50 times bigger than that its US counterpart sitting at $5.5tn and is now being shaken up by its underdog Tencent, which is snatching market share from rival Alibaba. Alipay, which Alibaba launched in 2004 as a PayPal-type service to facilitate payments on its Taobao e-commerce platform, has long dominated [...]

The post Competition increases for China’s $5.5 trillion mobile payment market appeared first on Payments Cards & Mobile.

The Chinese economy is slowing but Singles Day shoppers still went for it online and drove Singles Day sales up to more than $10bn on Alibaba by 2pm on Wednesday, beating last year’s record of $9.3bn. Singles Day is the biggest shopping frenzy in the global calendar; the $5bn of sales recorded in the first 90 minutes on Wednesday by [...]

The post Singles Day hits new spending record appeared first on Payments Cards & Mobile.