Tech

Alipay is like a supercharged version of popular US apps like Venmo and PayPal rolled into one, and now President Trump is banning it. Here’s what you need to know about the app that is used by more than 1 billion Chinese residents.

Ant Group, the giant Chinese fintech company, was ready to embark on a historic IPO when China intervened and shockingly ground the event to a halt, a move that was reportedly issued directly by President Xi Jinping. The firm’s prized app, Alipay, is used by over 1 billion Chinese residents […]
Alipay is like a supercharged version of popular US apps like Venmo and PayPal rolled into one, and now President Trump is banning it. Here’s what you need to know about the app that is used by more than 1 billion Chinese residents.
Markets

Ant’s record-breaking IPO attracts $3 trillion in retail-investor bids

Ant Group’s historic $US35 billion IPO is garnering unprecedented interest from retail investors in Shanghai and Hong Kong. Jack Ma’s financial services company took in more than $US3 trillion in orders from individual investors across its dual listings in Hong Kong and Shanghai. Roughly 19.1 trillion yuan (2.9 trillion) worth […]
Ant’s record-breaking IPO attracts $3 trillion in retail-investor bids
Tech

As China lifts its coronavirus lockdowns, authorities are using a colour-coded health system to dictate where citizens can go. Here’s how it works.

Provinces and cities across China are slowly lifting their strict coronavirus lockdown measures. Wuhan, where the coronavirus broke out, just lifted its lockdown. But as people resume their lives, local authorities are trying to prevent further spread by controlling citizens’ movements via smartphone software installed in WeChat and Alipay, two […]
As China lifts its coronavirus lockdowns, authorities are using a colour-coded health system to dictate where citizens can go. Here’s how it works.
Markets

Commonwealth Bank launches China’s Alipay in Australia

The CBA has launched Alipay in Australia. The Chinese payment app will be available on the bank’s 94,000 touchscreen devices in stores across the country. Alipay is expected to make it easier for Chinese tourists to spend here and for Australians who want to do business with China’s giant ecommerce […]
Commonwealth Bank launches China’s Alipay in Australia
Lifestyle

One photo shows that China is already in a cashless future

Mobile payments have become so common in China that paying with cash is practically unheard-of, even with street performers and taxi drivers. The mobile payment market is dominated by two apps, WeChat Pay and AliPay, which have hundreds of millions of active monthly users and make Apple Pay’s 127 million […]
One photo shows that China is already in a cashless future
Markets

Fintech Novatti launches a China payments platform, its shares soar

ASX-listed Novatti launches its chinapayments.com platform, the first in Australia to allow consumers to pay BPAY bills using the China-based e-wallet Alipay. The platform provides Chinese residents in Australia with a solution for bill payments, using one of China’s leading payment methods. Novatti will earn a fee on a per-transaction […]
Fintech Novatti launches a China payments platform, its shares soar
Markets

Commonwealth Bank is bringing China’s Alipay to Australia

The Commonwealth Bank has signed a deal with Alipay which will make it easier for Chinese tourists to spend here and for Australians who want to do business with China’s giant ecommerce platform Alibaba. The agreement is with Ant Financial Services Group, the Alibaba affiliate said to be China’s most valuable financial technology […]
Commonwealth Bank is bringing China’s Alipay to Australia