Alibaba and Tencent are engaged in a struggle to control the internet, both in China and possibly worldwide. Their latest battlefield will apparently be financial services, as each have won approvals from Chinese authorities to set up privately owned banks. Get the Full Story Complete...
The three months through September were still the busiest for IPOs in four years and would have been even if Alibaba had never set foot in the U.S. and gone public. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Non-cash payments ticked up 10 percent in 2013 to 366 billion transactions, pulled along by intense growth in developing markets. According to RBS data, nearly a quarter of all global non-cash transaction growth–that’s about 93 billion transactions–happened in those developing markets. China remains less developed...
Dwolla hit the market with a simple enough goal: build a scalable, global payment network capable of taking on national automated clearing houses and card schemes. The goal is and was to create an easy and low cost way to move money. With $9.7 million...
The Chinese government is officially allowing Apple to start selling the iPhone 6/6 Plus in China after extracting a privacy promise from Apple “that it would never allow any country or government agency backdoor access to its devices or user data,” according to a report...
The Korean online payment market is rapidly expanding, but there is no native online payment service such as Alipay or PayPal to serve the increasing number of people looking for a digital platform for card and payment information. Get the Full Story Complete the form...
Apple Pay’s U.S. business model is based on issuers giving it a rebate on the fees they collect from merchants. But what happens when those fees are really low and headed lower? That’s Apple’s issue in Europe as it looks across the pond to find...
Home rental firm Airbnb is now accepting Alipay, the huge Chinese Internet payment offering, on its site, reports ReCode. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
What has paralyzed progress in the U.S. on the global standard for financial messaging, ISO 20022? In a word: risk. Across Europe, 20 financial organizations have already gone live with payments messaging services that meet the standard, thanks largely to the E.U.’s Single Euro Payments...
