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China’s Ant Group Mulling Creation Of New Consumer Loan Unit

PYMNTS

China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Ant Group had planned to go public for $35 billion, which would have made it the largest IPO in market history. China TransInfo Technology Corp.

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China Expects Economy To Improve In 2021 As Region Sees Boost In Tourism

PYMNTS

Speaking at a news conference with leaders of six major international economic and financial groups, including the World Bank and International Monetary Fund, Li said the country's economy “this year can achieve positive growth, and we expect next year (economic) operations can recover to a reasonable range,” Reuters reports.

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Deep Dive: Why QSRs Should Lean On Loyalty To Personalize Mobile, Online Dining

PYMNTS

consumers shifted from dining in to ordering out when the pandemic began and approximately 26 million of these customers plan to keep ordering food online once it ends. . Online engagement differs significantly between more-populated and less-populated areas, for example. Recent PYMNTS research found that 31.6 million U.S.

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Pandemic Continues To Dull Allure Of Luxury Goods

PYMNTS

Despite some signs of improvement this month, LVMH , the world’s biggest luxury goods group, admitted that its brick-and-mortar sales were erased by lockdowns across Europe and the United States in recent months, and that an immediate turnaround was unlikely. “We Could the online surge help luxury goods? billion compared to 2019.

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Wirecard Linked To Mafia Money Laundering

PYMNTS

Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). ‘Ndrangheta operates from the Calabria region in Southern Italy.

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Google Eyes Investing In Indonesia’s eCommerce Hub Tokopedia

PYMNTS

The Indonesian eCommerce retailer backed by SoftBank Group Corp. ’s In 2018, SoftBank ’s Vision Fund and Alibaba Group Holding Ltd., Bloomberg reported America’s largest internet corporations are eyeing Asia where the region is exploding with smartphones and tech-savvy residents. s Vision Fund has also met with Facebook Inc.

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Global Fashion Group Sees Valuation Halved By Rocket Internet

PYMNTS

Global Fashion Group has seen its valuation more than halved by Rocket Internet, owner of about 23 percent of the eCommerce company. eCommerce fashion, once a lagging area of online sales, has recently become a very hot and very competitive battleground for up-and-coming players. Valued at around $3.1

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