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Payment Services

Worldpay has Agreed Terms of a Potential Takeover by Vantiv in a Pound Sterling 7.7bn Deal

Britain’s biggest payments processor announced the development shortly after Sky News revealed that credit card technology firm Vantiv had been locked in discussions all night on securing an agreement with the Worldpay board. Worldpay, which had disclosed talks with both Vantiv and JPMorgan Chase a day earlier, said its shareholders would net 55p-per-share in cash and new Vantiv shares – along with a cash ... Read More »

Alibaba Buys Majority Stake In TicketNew Of India

Alibaba  is pushing more into India via an acquisition of a majority stake in TicketNew, the film ticket website. According to a report, terms of the deal were not disclosed, but the purchase was made via Alibaba Pictures Group, the entertainment arm of the eCommerce company.  Previous media reports pegged the price tag at $35 million for a controlling stake ... Read More »

Singapore Central Bank’s Blockchain R&D

The Monetary Authority of Singapore has revealed a three-step plan to connect the world’s central banks via distributed ledger technology. The two-phase effort called “Project Ubin” would see global central banks settling cross-border transactions in real time via a blockchain. Unlike the current system, where only high-value or institutionally crucial transactions are settled in real time, Project Ubin is being designed ... Read More »

Ant Financial Appears to Becoming the World’s Top Consumer Bank – If Foreign Regulators Let It Happen

The biggest obstacle for the Alibaba affiliate are strict regulations abroad In a world that embraces disruptive technology, China’s most prominent financial technology company, Ant Financial Services Group, would probably have no problems morphing into a bank, even without licenses. Beginning as an online payment processor called Alipay supporting Alibaba Group Holding’s flagship e-commerce platform Taobao, Ant Financial has expanded ... Read More »

Ant Financial Enters Hong Kong Market with Alipay Mobile Wallet

Ant Financial, the finance arm of Alibaba, recently became the latest player in Hong Kong’s competitive mobile payments market after it announced the launch of its mobile wallet for Hong Kong users. The mobile wallet and payments app, dubbed AlipayHK, is similar to its Chinese counterpart Alipay – registered users are able to top up their mobile wallets and make ... Read More »

China Sees Rise of Fintech E-payment Tech Firms

The rise of electronic payments providers in China is facilitating more online consumption and “omni-channel retailing” and may serve as a source of competition to traditional retailers and banking operations going forward. “The rise in the usage of e-payments is positive for internet companies and most service and consumer-related companies, although it could also be negative for some companies in ... Read More »

Arvato Payments Review Provides Free Data and Insights into 14 Leading Markets

Risk and Reward for Online Retailers in Cross-border Business Going global has never been easier – at least in theory. Cross-border e-commerce offers retailers a world of opportunities, but also pitfalls for the unwary. The Arvato Payments Review is a free resource providing invaluable insights for retailers wanting to expand their online presence into new markets. Retailers looking to expand ... Read More »

Payment Services: Alipay and WeChat Pay Make Push into North America

China’s mobile payment leaders are ramping up efforts in the land of Apple Pay. Alipay and WeChat Pay (OTCPK:TCEHY) are expanding into North America, seeing a big market in the waves of Chinese traveling abroad. Ant Financial, operator of Alipay and affiliate of Alibaba (NYSE:BABA), announced a deal with U.S. payment processing company First Data (NYSE:FDC). The arrangement is aimed at the more than ... Read More »

US and China Announces a New Trade Agreement to Include Payment Services, Credit Rating Services and Bond Underwriting

The US Department of Commerce announced a new trade agreement with China. The biggest points in the 10-point plan are aimed at the LNG sector, American agriculture and financial sectors, which are being promised greater access in a range of areas. In addition to beef, China agreed to accelerate the process for approving U.S. biotechnology products. Beyond electronic payments, Beijing ... Read More »

Hyperwallet Partners Up With SoftBank for Asia-Pacific Region Expansion

Small businesses and freelancers just got a boost in the Asia-Pacific region. Global payouts provider Hyperwallet just announced its partnership with Japan-based SoftBank Payment Service (SBPS). Through this effort, Hyperwallet’s ancillary office in Japan will help to expedite the payout process and options for those in the area. With SBPS’s functionality incorporated into the Hyperwallet system, clients doing transactions in ... Read More »

Alibaba’s Ant Financial to Develop Services in Indonesia as Global Expansion Continues

Ant Financial, the fintech company affiliated with Alibaba, is continuing its global expansion. The firm has taken its first official step into Indonesia today after it announced a joint venture to develop local financial services.  The company has partnered with conglomerate Emtek, Indonesia’s second largest media firm and an investor in -major e-commerce player Bukalapak, to enter Indonesia, which is ... Read More »

The MoneyGram Bidding War

MoneyGram bidder Euronet ramps up fight to stop Chinese rival’s bid Euronet Worldwide Inc (EEFT.O) ramped up its fight against China’s Ant Financial Services Group in trying to acquire MoneyGram International Inc (MGI.O), urging the U.S. government to closely scrutinize the rival Chinese bid saying it raises “significant national security risks.” In a March 27 letter to Treasury Secretary Steven ... Read More »

Tencent Expands WeChat  in Europe

WeChat, China’s most popular social media and messaging service, has launched a new bid in Europe and the U.S. to develop its payments offering and win new advertisers. Owned by Tencent Holdings Ltd., WeChat is looking to launch an office in the U.K. and another European country, alongside its existing presence in Italy. Tencent, which has an established office in San Francisco, ... Read More »

Bharat QR Code: A Way to Easier Digital Payments for Indians

Indian credit card issuers pave the way for cashless world with the introduction of the Bharat QR Code. Visa, MasterCard, NPCI and Amex launched Bharat (India) QR. This was one of rare instances when all payment systems came together on a single platform. Though the digital payments had become easier than before. But to make these even easier the government ... Read More »

Western Union Seeks Patent for Digital Currency Analysis

Money transfer company Western Union is seeking a patent for a transaction analysis system that could be applied to digital currencies like bitcoin. The US Patent and Trademark Office (USTPO) published Western Union’s patent application for methods and systems related to “multi-network transaction analysis” on 16th March. The application, which lists 6 inventors, was originally submitted in September of last year. While ... Read More »

Euronet outbids Alibaba’s Ant Financial with $1 billion offer for MoneyGram

Alibaba’s conquest to own a piece of the global money transfer industry just suffered a huge blow after Euronet outbid its fintech affiliate business for the proposed acquisition of MoneyGram, a popular option for cross-border money transfers. Ant Financial, the Alibaba-controlled unit that runs Alipay (among other services), bid $880 million for MoneyGram back in January, but now Euronet is ... Read More »