PYMNTS

SEPTEMBER 14, 2020

According to new rules passed down from the Peoples' Bank of China (PBOC), firms operating two or more financial businesses in China will be classified as financial holding companies as of Nov. Hangzhou-based Ant runs payments company Alipay , which claims over 1 billion users in China and handled more than 118 trillion yuan ($17.3

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PYMNTS

FEBRUARY 13, 2020

billion yuan in the quarter concluding on Dec. billion yuan a year prior. billion yuan in sales, The Wall Street Journal reported. yuan, while they were 12.64 yuan a year prior. In its latest quarter, Alibaba Group saw its sales come out ahead of expectations, spiking 38 percent. billion or 161.45

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Retail Groups Mobile Online 150

PYMNTS

JANUARY 10, 2020

The PBOC released the information in a recently released paper, saying that the “top-level design, standard formulation, functional research and development” of the digital yuan coin has been completed. The digital yuan has been in development since 2014. The bank recently said the currency was “progressing smoothly.”.

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Training Regulation Industry Mobile 257

PYMNTS

DECEMBER 13, 2020

Didi , Meituan and Bilibili are the companies now joining the trial, in which successful lottery winners in the city of Suzhou will be able to use digital yuan winnings for their services. There are reportedly around 10,000 people competing for 200 digital yuan each in this current lottery, CoinDesk writes.

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cryptocurrency Bitcoin User Experience Video 157

TheGuardian

JANUARY 24, 2024

Biggest reduction since December 2021 will allow 1tn more yuan to be released in form of new loans China’s central bank has announced a surprise cut to the amount of cash that banks must hold in reserve, hoping to boost the lending available to households and businesses as policymakers try to steer the economy through a fragile recovery.

Lending 56

Lending 56

PYMNTS

MARCH 25, 2020

Businesses are offering steep discounts to encourage people to spend as China starts to reopen for business following the coronavirus pandemic that put the country under quarantine, according to a Reuters report on Wednesday (March 25). . Movie theaters are now back in business after going dark for nearly eight weeks.

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National Report Retail Security 112

PYMNTS

JULY 28, 2019

Jack Ma ’s MYbank is aiming to change the way China lends to small businesses. So far MYbank has lent 2 trillion yuan ($290 billion) to nearly 16 million small companies, with a default rate of only about 1 percent. Non-state firms — mostly small businesses — make up about 60 percent of growth and employ 80 percent of workers.

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PYMNTS

JANUARY 30, 2019

yuan, better than the 11.2 yuan that had been estimated. billion yuan, which was below the 119 billion yuan that the Street had sought to see. billion yuan. billion yuan. billion yuan. The company also spotlighted its efforts to expand into meals on demand and other business models.

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PYMNTS

MAY 11, 2020

Global payments provider Fiserv has introduced a simple way to manage and fulfill online orders that promises to boost business, the Wisconsin-based company said in an announcement Monday (May 11). Almost overnight, we had to embrace a new way of doing business.”.

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Management Wisconsin Online Samsung 151

PYMNTS

AUGUST 14, 2020

China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid.

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Lending Regulation Industry Fraud 315

Chris Skinner

JANUARY 3, 2017

Things we’re reading today include … Commonwealth bank doors left unlocked on New Year’s Day Brexit: banks consider whether to start moving business out of UK Nationwide sees 10pc rise in customers thanks to Government account switching service China’s economy could grow 6.5

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American Banker

OCTOBER 18, 2023

NCR has completed the spinoff of its ATM business, Revolut doubles its number of fraud-fighters in two years, China builds a zone for digital yuan users, and more.

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Company ATM Security Fraud 48

PYMNTS

DECEMBER 15, 2020

Most businesses in China have gone digital and some have stopped taking cash altogether, in part due to the coronavirus, but also as a means of cost control and user demand. Renminbi (yuan) cash is the most basic means of payment. Entities or individuals cannot refuse to accept it,” the PBOC said in a statement, per Reuters.

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Policies Regulation Payments Innovation 241

PYMNTS

JANUARY 25, 2021

The relationship the government has with digital currencies has been complicated over the years, with the country’s supreme court in March overturning a blanket ban on crypto, which had affected crypto businesses there since 2018. Since then, the number of exchanges has grown in the country.

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cryptocurrency Regulation Report Payments 318

PYMNTS

DECEMBER 26, 2018

trillion yuan (US$1.76 And it is estimated that total costs in China will be close to or exceed 13 trillion yuan (US$1.89 The total logistics cost of 13 trillion yuan has created a 13-trillion-yuan logistics market,” said Ni, according to Asia Times. “The trillion) in logistics costs last year.

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Marketing United States Retail US 134

PYMNTS

MARCH 18, 2020

billion yuan ($15 billion), and analysts had expected 102.9 billion yuan ($14.6 billion yuan ($3 billion) were lower than the 22.9 billion yuan ($3.2 As far as mobile payments are concerned, FinTech and business services are 28 percent of total revenues. In terms of earnings, profits of 21.6 billion) expected.

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Meeting social media Conference Online 141

PYMNTS

NOVEMBER 23, 2020

The upgrade will reportedly make the coin more secure and quicker, meaning “more people and businesses can use ethereum for economic activity, rather than just financial trading,” Ross Middleton , co-founder of cryptocurrency exchange DeversiFi, told Reuters. 12, CoinDesk reported , citing The Paper. million in the digital currency.

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Bitcoin cryptocurrency System Security 131

PYMNTS

AUGUST 16, 2019

Either Amazon would double down [on China] or sell the business to NetEase and NetEase would double down,” one analyst said. billion yuan; the Street had expected 111.6 billion yuan. billion yuan, which was up 44 percent and was better than the consensus of 95.9 billion yuan.

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United States Branding Conference Online 116

PYMNTS

MARCH 12, 2018

Ant Financial , the payment affiliate of China’s Alibaba , has seen its consumer lending business reach 600 billion yuan ($95 billion) even as the company faces a stricter environment for securitizing loans in its home country of China. In all of 2017, the company issued 243 billion yuan of asset-backed securities, Bloomberg noted.

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Lending Security Online Regulation 101

PYMNTS

APRIL 24, 2020

In today’s top news, 19 firms are participating in a pilot program to trial China’s new digital yuan, and the U.S. Starbucks Among 19 Firms Trialing China’s Digital Yuan. The People’s Bank of China (PBOC) is launching a pilot program to trial its new digital yuan with 19 local businesses, including the U.S.

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Payments Guidelines Innovation Cards 146

PYMNTS

JANUARY 9, 2020

The country’s P2P industry, although just a small portion of overall lending, is nevertheless a compelling credit source for businesses and consumers that can’t obtain loans through China’s traditional banking system. billion yuan (US$70.4 trillion yuan (US$189.2 billion) as of December 2019 from a height of 1.32

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Lending Regulation Capital Industry 131

PYMNTS

MARCH 8, 2019

To help head up joint business initiatives and work toward the alignment of their long-term interests, Alibaba Group Holding Ltd. Ant Financial has grown from only a payments business to encompass credit finance, wealth management and the largest money-market fund in China. The company’s revenue rose 41 percent to reach 117.3

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Groups Report Management Marketing 111

PYMNTS

DECEMBER 30, 2019

The restaurant’s deputy general manager, Eva Liu, said the restaurant was so busy that she couldn’t even get a table for her friends on both Christmas Eve and Christmas Day. The restaurant, which is a Mediterranean-style eatery, is expected to reach revenue of 1 million yuan ($143,000) in December. trillion yuan through November.

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PYMNTS

APRIL 29, 2020

Businesses operating — on site. Reuters reported that China’s factory activity is likely to have risen for a second straight month when data are released for April, as more firms opened for business. billion yuan ($87 billion) in March, per data from the People’s Bank of China. billion yuan, up about 9.6 Factories reopen.

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Conference Retail New York Cards 154

PYMNTS

DECEMBER 30, 2019

The restaurant’s deputy general manager, Eva Liu, said the restaurant was so busy that she couldn’t even get a table for her friends on both Christmas Eve and Christmas Day. The restaurant, which is a Mediterranean-style eatery, is expected to reach revenue of 1 million yuan ($143,000) in December. trillion yuan through November.

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Retail social media Branding Trends 130

PYMNTS

JUNE 8, 2020

And in China, the government is working on a pilot to test a new digital yuan with several businesses including Starbucks, McDonalds and Subway, which could launch sometime later this year. Visa has also explored the idea, with a patent application for its own digital currency, underpinned by blockchain.

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blockchain cryptocurrency Maine National 338

PYMNTS

DECEMBER 26, 2019

China’s Central Bank Says Libra, Stablecoins Are a Threat to Yuan. Stablecoins like Facebook’s Libra could hamper the international development of China’s yuan, leading to fluctuating asset prices and weakened impacts of capital controls, said the People’s Bank of China.

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PYMNTS

SEPTEMBER 30, 2018

According to Reuters , the Chinese internet giant announced that Tencent executives will consolidate three content business groups to one unit and implement a new group for cloud and smart industries. billion yuan, far below the 19.3 billion yuan that had been expected by the Street. billion that the Street expected.

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Groups Course Mobile Regulation 145

PYMNTS

MAY 5, 2020

Now, after months of lending, the bank is feeling the weight in the form of 2 trillion yuan ($282 billion) slated for small- to medium-sized business (SMB) loans this year. That number is up around 18 percent from 2019, and firm President Jin Xiaolong said MYbank is not lowering its expectations for the year.

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PYMNTS

NOVEMBER 5, 2018

billion yuan ($353 million USD) for the quarter ending Sept. billion yuan for the same quarter a year ago. The loss was also due in part to spending so as to expand the business internationally. billion yuan in pre-tax profit in the fiscal year ending in March, Bloomberg reported. It posted 9.18

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PYMNTS

MAY 15, 2019

“The 11 percent sequential jump in mobile game sales bodes well for the sustained recovery of the business over 2019.”. billion yuan ($4 billion) in Q1, beating out the 19.4 billion yuan estimate by analysts. Tencent is trying to make up for the slowdown in advertising and game revenue by exploring new business opportunities.

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Video Strategy Regulation Company 108

PYMNTS

DECEMBER 8, 2019

Bank of China announced that it has issued 20 billion yuan ($2.8 billion) in blockchain-based bonds for small- and micro-sized businesses using its own blockchain platforms. As of September, Bank of China has lent 404 billion yuan ($57.7 The two-year bond will come to the market with 3.25 percent coupon rate. “We

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blockchain Bitcoin Taxes cryptocurrency 132

PYMNTS

APRIL 28, 2020

In China, JD.com, the country’s largest eCommerce site, is selling the iPhone 11 with 64GB for 3,299 yuan or $466 — a discount of 2,200 yuan, a whopping $310, or 40 percent off its original price of a few months ago. Apple Inc.’s s discounts couldn’t come at a better time. We see demand as pushed out, not canceled.”.

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Apple California Report Branding 131

PYMNTS

MAY 8, 2020

percent year over year in China, even as businesses reopened – and, according to the South China Morning Post , work resumption rates were roughly 75 percent to 95 percent. billion yuan ($87 billion) in March. billion yuan, up about 9.6 Retail sales in March fell 15.8 Roughly half of the March increase went to home mortgages.

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Report Policies Community Data 161

PYMNTS

FEBRUARY 18, 2019

China’s Operation Fox Hunt has led to the arrest of 62 Chinese nationals abroad and the seizure of 10 billion yuan ($1.5 trillion yuan ($217.96 billion) in assets from 380 fraudulent peer-to-peer (P2P) lending platforms, according to a Reuters report. As of last year, there were outstanding loans of 1.49 billion) in the country.

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Lending Regional Operations National 129

PYMNTS

JANUARY 24, 2017

Revenues were up 54 percent in the period to 53 billion yuan, compared to the 50 billion yuan that had been expected by analysts’ consensus (translating into $7.8 yuan, where the Street had been at 7.70 billion yuan (and the earnings-before-interest-and-taxes margin here was a negative 5 percent versus 41 percent last year).

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Taxes Retail Management Strategy 100

PYMNTS

AUGUST 12, 2019

trillion yuan ($150.2 trillion yuan in June, the People’s Bank of China told the WSJ. Market confidence has taken a hit due to the trade war , causing Chinese businesses to adjust their investment plans. -China trade tensions continue, possibly prompting Beijing’s policymakers to try additional stimulus efforts.

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Lending Guidelines Taxes Capital 100