Super app WeChat, operated by video gaming and social media giant Tencent Holdings, continues to strike a delicate balancing act between its role as a major revenue stream for the Shenzhen-based company and a vital public-service platform in mainland China, according to analysts. With more than 1.3 billion monthly active users (MAUs), the 13-year old … Read more
Spanish luxury fashion brand Balenciaga’s latest offering is a 4,700 yuan (US$650) T-shirt in collaboration with Chinese mobile payment platform Alipay, sparking discussions and chaff on Chinese social media. The short-sleeved, oversized garment – which is unisex in design – only comes in two sizes and one colour, black. The iconic Balenciaga print is brandished … Read more
Senior executives that include Wang Hai, Liu Peng, Yu Feng and Wang Mingqiang retired from Taobao and Tmall Group on May 1, according to Chinese media reports on Wednesday. Taobao and Tmall Group did not immediately respond to a request for comment on Thursday. Alibaba Group Holding chief executive Eddie Wu Yongming last December took … Read more
The number of visitors – from 15 countries across Europe and Southeast Asia included in China’s visa exemption scheme – who used Alipay during the holiday was up fourfold this year, according to Ant. 13:33 Tourism trouble: post-pandemic hurdles of China travel Tourism trouble: post-pandemic hurdles of China travel Since the middle of last year, … Read more
To be fair to the British newspaper, the full headline is “Cash is king – for now: China signals it will slow transition to cashless society”, and the article below it outlines how rare cash now is, at least in the big cities. Going to Shenzhen? A guide to visas, the apps you need and … Read more
Chinese financial technology giant Ant Group is looking to “significantly” expand the global presence of its cross-border mobile payment service Alipay+, as the company pursues an organisational overhaul that includes a spin-off of its international arm. Ant International aims to considerably boost the number of partner wallets supported by Alipay+ this year, possibly by more … Read more
Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40 How mobile payments impact people’s lives in China How mobile payments impact people’s lives in China Tencent on Thursday said foreign … Read more
The Shenzhen municipal government intends to boost the number of its native apps built on HarmonyOS and push for their adoption across several major sectors, according to a 2024 action plan published on Sunday by the city’s Industry and Information Technology Bureau. Under that initiative, HarmonyOS-based apps would be adopted in sectors that include government … Read more
China has pledged to make it easier for foreigners to use payment apps and to reduce barriers for the private sector as part of its latest efforts to restore investor confidence. On Friday state news agency Xinhua reported that the State Council, China’s cabinet, had approved unspecified measures to make it easier for foreigners and … Read more
The Year of the Dragon may have signalled the return of the overseas Chinese tourist, with preliminary data from popular payment service Alipay showing an increase in transactions this year compared with 2019, the last time international borders were open before the onset of the pandemic. Alipay operator Ant Group, the fintech business affiliated with … Read more
