China’s government has tried for many years to establish a credit system that rivals the U.S. and Europe, but has...
HSBC has launched a digital wallet in Hong Kong that targets startups and other small businesses; the bank said they...
Prior to the license, the company operated as a platform for other third party funds to sell products through their wealth management platform Qian.qq.com and WeChat; now the company will be able to sell direct to its nearly 1 billion users; the company already had licenses for mobile payments, insurance and micro finance. Source
Hong Kong has approved 4 more digital banking licenses for Tencent, Alibaba, Xiaomi and Ping An; the approvals are sure...
Tencent has launched its credit scoring service, Tencent Credit Score, Tencent's counterpart to Ant Financial's Sesame Credit; for now, only QQ Vips can have access to their score (QQ is a social network tool developed by Tencent, popular among teenagers); credit scores range from 300 to 850; the score measures a person on five different aspects including credit history, security, wealth, consuming habits and social network. Source (Chinese)
WhatsApp, Brazil Central Bank In Talks To Restore Payments Service Volcker Rule reforms expand options for raising VC funds CMG...
Naspers is the most valuable listed company in Africa and is now selling $10 billion worth of shares in Tencent to invest in fintech, classified and online food delivery businesses; Naspers stake in Tencent is estimated at $545 billion; this is the first time the company has sold shares in the company after initially investing in 2001. Source
The Hong Kong-listed company is, according to one banker at HSBC, the answer to Facebook, WhatsApp, Spotify, Kindle and ApplePay, but all under one roof; based in Shenzhen, considered the Silicon Valley of China, they employ 3,000 people where over half are focused on research and development; they also have a multi-billion dollar investment portfolio; they are one of the top three companies in China and have successfully expanded worldwide with apps like WeChat. Source
One of the first posts I ever wrote on Lend Academy back in 2010 was about mulling the idea of...
Mobile payments in China have taken off in recent years as Ant Financial and Tencent dominate the market; in recent...