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WorldFirst to enter Chinese payment market

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 Insights

03-May-18 The People’s Bank of China has received an application from international payment firm WorldFirst, for permission to conduct third-party payment business in China. The application marks a first for foreign-funded third-party payment institutions in China. [image: iStock / Asia Times]

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Why payments will help drive China’s Big Tech

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 Insights

02-May-18 Whether it is buying retail companies or building a global fintech business that includes not just payments but also online banking, wealth management and insurance, investments being made by Alibaba and Tencent are expected to reap substantial returns. [image: My Stock]

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Fintech startup MC Payment to acquire iFashion Group

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 Insights

02-May-18 MC Payment will acquire Singapore e-tailer iFashion Group, valuing the company at USD19 mn. The lifestyle e-commerce platform has been growing via acquisitions, snapping up other fashion and e-commerce labels in Southeast Asia. [image: MC Payment]

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Singapore aims small to make it big in cashless drive

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 Insights

01-May-18 To accelerate its cashless initiatives, Singapore is focusing on driving its efforts towards SMEs who make up 99% of the businesses in Singapore. However, cash payments make up nearly 60% of transactions. [image: Shutterstock / Techwire Asia]

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