Apple’s attempts to bring Apple Pay to China have hit a few bumps in the road. “Apple is seeking to cooperate with Chinese financial institutions” including banks for the use of Apple Pay, a People’s Bank of China (PBOC) official said. However, because Apple has not...
Over 100 banks worldwide have been hit in a cyberheist that Russian cybersecurity firm Kaspersky Lab estimates could have netted as much as $900 million in stolen funds. The massive theft was discovered in late 2013 when an ATM in Kiev went crazy and started...
Alibaba is taking a $590 million stake in a Chinese smartphone maker, Meizu Technology Co, that is virtually unknown internationally as the megafirm continues to explore ways to expand its mobile reach in a tightly competitive market. Alibaba has said it will take an as...
In a story last week, PYMNTS reported that Chinese merchants were cooling to PayPal after the U.S. based payments company froze or, in some cases, deducted funds from local accounts in response to an order from a U.S. judge. One merchant reportedly told a Chinese...
Lending Club and the Alibaba group are partnering to help American companies buy parts from Chinese manufacturers. The team-up will give manufactures in the U.S. access to products and supplies sold on Alibaba.com, while Lending Club will help those business secure loans for as little...
Barely 24 hours after Apple announced the biggest quarterly profit in history, smartphone rival Samsung Electronics reported that its own quarterly earnings fell 27 percent in Q4, and it now sells just about as many smartphones as Apple. Samsung said its overall smartphone sales for...
Ant Financial Services Group is rolling out its new credit-scoring service Sesame Credit, which combines “big data” technology and customer behavior analytics to help make credit more available to millions of Chinese consumers. While the name Ant Financial Services Group may not immediately ring bells for...
TransferWise has snagged a big pile of investment dollars in a round led by one of the Facebook’s earliest backers, Andreessen Horowitz. The UK-based P2P money transfer startup and Facebook have reportedly been in talks that would see TransferWise provide remittance services for the social networking...
Global payments firm peerTransfer announces today (January 13) that it closed a major funding round and hit a key profitability milestone. peerTransfer is an efficient, cost effective and transparent alternative to the existing friction-laden international funds transfer services, including bank wire. peerTransfer’s global payments platform...