Home » Industry » Payment Services

Payment Services

Abu Dhabi Bank Partners with Ripple for Cross-Border Payments

Abu Dhabi’s largest bank has begun offering a new cross-border transaction service in partnership with distributed ledger startup Ripple. The National Bank of Abu Dhabi (NBAD), the emirate’s biggest bank and one of the largest in the UAE, said today that it has integrated Ripple’s technology into its own systems, allowing for intrabank transfers for NBAD customers.  Vineet Varma, NBAD’s managing director ... Read More »

Alibaba to Hold 40% Stake in Paytm’s e-comm Entity

Alibaba will hold a substantial stake in Paytm’s newly spun off online marketplace business, setting the stage for a three-way battle between Amazon, Flipkart and the Chinese online behemoth in the country’s hyper competitive e-commerce market. The company will hold almost 40% in Paytm E-commerce, according to regulatory filings sourced from business research platform Tofler. The shareholding is through Alibaba.com ... Read More »

India Is Building the Infrastructure for a Truly Digital Economy and Financial Inclusion

India’s 1.1bn people now have an identity!  Financial inclusion: 270 million bank accounts opened within the last three years.  Unified Payment Inferface (UPI) allows digital payments based on the Aadhar number with biometric authentication.  Welcome to India Stack  India may have leapfrogged the US technology industry with simple and practical innovations and massive grunt work. It has built a digital infrastructure that ... Read More »

Ant Financial Acquires MoneyGram

Ant Financial Services Group, which is affiliated with Alibaba Group Holding Ltd. and is controlled by Alibaba founder Jack Ma, announced a deal Thursday to buy U.S. money-transfer provider MoneyGram International Inc. for $880 million.    Ant Financial will pay $13.25 a share for the Dallas-based company, a 12% premium to its Wednesday closing price of $11.88. On Thursday, the stock rose 8.8%, to $12.92. MoneyGram, which ... Read More »

Alibaba Expands Partnerships in eCommerce and Financial Services Across the Globe

Alibaba continues to partner, invest and grow across the globe, building a greater international footprint to balance out losses from a slowing domestic market.  For one, Alibaba is setting the stage to expand its hold on Southeast Asia. Last week, Alibaba and Southeast Asia acquisition Lazada, the leading eCommerce platform in Thailand, reportedly signed an agreement to provide eCommerce training ... Read More »

Ant Financial Makes Inroads in South Korea

China’s internet finance heavyweight Ant Financial Service Group gained another foothold in overseas expansion, after a local lender it helped launch obtained the first operating license for internet-only banks from South Korean regulators.  The move accords with a company strategy to advance the idea of inclusive finance, as the nation’s top wireless payment provider has a goal to serve 2 ... Read More »

Credit China Fintech to Invest in Vietnamese Amigo Technologies to Go Global

Credit China FinTech announced that the Group intends to acquire approximately 51% of the enlarged issued share capital in Amigo Technologies Joint Stock Company (“Amigo Technologies”) at a consideration of approximately USD12.73 million, equivalent to a valuation of approximately USD25 million.  Established in January 2005, Amigo Technologies is principally engaged in the provision of IT services and solutions for personalised ... Read More »

Blockchain Proven to be Faster than Wire Transfers in Banking Payment Test

According to the Asian Nikkei Review, the unnamed “megabanks,” the Deloitte Tohmatsu accounting group and the Bitcoin exchange bitFlyer have been running Blockchain tests for a considerable part of 2016, with the final tests concluding in September. The goal was to see if Bitcoin’s Blockchain technology (distributed ledger technology) could hold up to the rigors and speed requirements of the current currency ... Read More »

JEGI: Latest News on Mobile APPS and Digital Payments

Our friends at JEGI are providing our members with interesting insights to a “Winning Combination for Creating a Better Customer Experience and More Profits for Merchants” Five years after Google Wallet was introduced to the US market with much fanfare, but was accepted in only a handful of coffee shops in Silicon Valley. The vast majority of retailers showed little ... Read More »

NICE Group Announces new Legal Entity in Vietnam

NICE Group, a major credit rating and information service provider in South Korea, on November 25, announced the creation of a new legal entity in Vietnam.  It is NICE’s first legal entity in Vietnam – NICE INFO Vietnam Co. Ltd. NICE believes that its business activities will be constantly growing in Vietnam and contributing to the strong growth of the ... Read More »

Kreditech Launches Online Point-Of-Sales Financing: Beta Phase Integration with Naspers’ E-Payments Division

The consumer finance technology company Kreditech has announced its new business line, Online Point-of-Sales (POS) Financing, with its first client, PayU Global BV. PayU Global BV, a leading payment services provider and the e-payments division of Naspers Ltd., deploys Kreditech’s B2B2C solution. In the freshly launched beta phase with a selected merchant, PayU provides Kreditech`s installment products as a new alternative ... Read More »

What Kind of Online Business Idea Do You Think could be a Good Opportunity for the African Market?

Dipti Das examines the The goal of online marketing or business is to spread awareness about a business and its products or services via the Internet. Mobile applications are more popular than ever in Africa, and people are willing to pay good money for ways to manage their lives from their smartphones. Mobile applications development Company – iPad, iPhone, Android, Smart TV app development by ... Read More »

Alibaba’s Finance Arm Ant Says to Expand First in Asia

Ant Financial Services Group, the world’s biggest financial technology company, plans to focus its expansion plans in Asia before looking to go more global. Ant Financial will offer insurance and investment management products outside of China, senior vice president Douglas Feagin said at an event to mark a tie-up with a payment firm in Thailand. Feagin, a former Goldman Sachs ... Read More »

Alipay and Commonwealth Bank of Australia to Provide Innovative Payment Solutions

Both companies will provide innovative payment solutions Chinese tourists and students will have another alternative way to pay for goods and services while in Australia, thanks to a new agreement inked on Monday by Commonwealth Bank of Australia and China’s Alipay. Under the new memorandum of understanding (MOU) Alipay.com, which is operated by Ant Financial Services Group, an affiliate company ... Read More »