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Tencent unveils China’s first online-only bank

Tencent unveils China’s first online-only bank

Tencent has launched China’s first online-only private bank. WeBank, named after Tencent’s popular WeChat messaging service, is now operational after the Chinese financial service regulator granted Tencent a licence in 2014. China is aiming to boost banking competition in the country to aid small businesses seeking financing. Also receiving a licence was Tencent rival, e-commerce [...]

The post Tencent unveils China’s first online-only bank appeared first on Payments Cards & Mobile.

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