Singapore-headquartered Ant International said it has developed an AI model that predicts currency exchange rates on an hourly basis for both inbound and outbound transactions, which would help businesses reduce transaction costs and better allocate resources, the company said in a statement on Thursday. “Integration of AI into the processing of cross-border transactions is of … Read more
Tokenisation could drive real-time cross-border payments, Ant Group CEO Eric Jing Xiandong told an audience at Hong Kong FinTech Week on Monday, a topic he elaborated on while extolling the progress that Alipay has made in the city. “With tokenised deposits, that’s a really, really, really huge value for cross-border payments,” Jing said in a … Read more
The natural charms of Hangzhou in China were immortalised more than 1,000 years ago in the poems of Bai Juyi and Lin Bu, and it remains a draw to this day even as the city has grown into a hub for innovation. Known for its ancient streets and tree-lined canals, on the first day of … Read more
Taobao and Tmall Group, Alibaba’s domestic e-commerce business unit, launched at 8pm on Monday the presale stage of its promotion for Singles’ Day – also known as 11.11 or Double 11, referring to the shopping extravaganza originally observed on November 11 – as the company anticipates a record-high volume of users taking part in this … Read more
Tencent Holdings’ WeChat Pay, one of China’s dominant digital payment platforms, saw a jump in transactions during the “golden week” national holiday, as consumer spending shows signs of recovery after Beijing rolled out its biggest stimulus package since the pandemic. Known as Weixin Pay on the mainland, the digital wallet recorded a 20 per cent … Read more
Chinese tech giants providing dining and travel-booking services saw consumer spending surge on their platforms during the “golden week” National Day holiday, according to data released by on-demand local services firms including Meituan and ByteDance-owned Douyin, the Chinese version of TikTok. During the first five days of the annual break, which ran this year from … Read more
Alipay, China’s leading mobile payment service operated by Ant Group, reported a surge in outbound and inbound tourism transactions during the mainland’s “golden week” National Day holiday, as consumer confidence appears to rebound following Beijing’s large-scale stimulus measures introduced ahead of that annual break. During the first four days of the holiday, which began last … Read more
Ant Group, the fintech affiliate of Alibaba Group Holding, will kick off a new round of dividend payments to all eligible shareholders and employees who hold equity incentives, according to reports this week by several state-owned Chinese media. The company’s new dividend distribution plan, which was approved during a recently convened shareholders meeting, was “formulated … Read more
Singapore-based Ant International, through digital payment solutions provider Alipay+ and merchant payment processing service Antom, will serve as Tottenham Hotspur’s exclusive global payments provider and digital wallet partner, the company announced on Thursday. Payment systems at Tottenham Hotspur Stadium in north London will be supported by Ant International, while the club’s fans around the world … Read more
Chinese social media giant Tencent Holdings has introduced its palm-recognition technology in Macau, allowing mainland tourists to pay in shops by holding their hands over a scanner, using its WeChat Pay service. This is the first time that Tencent’s WeChat Pay, known as Weixin Pay domestically, has made palm payments available outside the mainland. In … Read more
