Fintech

China UnionPay, 30 Financial Institutions Roll Out Unified Mobile Payment App

China UnionPay, 30 Financial Institutions Roll Out Unified Mobile Payment App

China UnionPay, the country’s biggest bank card provider, has unveiled a new mobile app developed jointly with 30 commercial banks and financial institutions supporting QR code payments.

Dec 12, 2017
Liao Shumin
Percentage of Mobile Banking Service Users Hits 51% This Year, Ties With Banking Service Users

Percentage of Mobile Banking Service Users Hits 51% This Year, Ties With Banking Service Users

The popularization of mobile apps is swelling the ranks of Chinese mobile banking service users.

Dec 7, 2017
Tang Shihua
Japan’s Financial Services Agency Winks at Four More Digital Currency Exchanges

Japan’s Financial Services Agency Winks at Four More Digital Currency Exchanges

The Japanese Financial Services Agency (FSA) has approved four more digital currency exchanges to legally operate in Japan, Jiemian.com reported.

Dec 4, 2017
Liao Shumin
Pending Beijing P2P Registration Will Bar Non-Compliant Cash Loan Businesses

Pending Beijing P2P Registration Will Bar Non-Compliant Cash Loan Businesses

Following the imposition of a moratorium on applications to establish online microlending businesses, regulation of cash loans is now looming. A…

Dec 1, 2017
Zhang Xia
China Will Remain Global Cryptocurrency Center Despite ICO Ban, Says CBRC Advisor

China Will Remain Global Cryptocurrency Center Despite ICO Ban, Says CBRC Advisor

China Will Remain Global Cryptocurrency Center Despite ICO Ban, Says CBRC Advisor. China has tightened up regulation over the digital…

Dec 1, 2017
Yang Yanqing and Lin Chunjie
Xunlei Subsidiary Claims Parent’s OneCoin Project Is an Illegal Fundraising Scheme That Does Not Use Blockchain

Xunlei Subsidiary Claims Parent’s OneCoin Project Is an Illegal Fundraising Scheme That Does Not Use Blockchain

Chinese internet giant Xunlei Ltd. [NASDAQ:XNET] has been fighting with its big data subsidiary, who said that Xunlei’s OneCoin cryptocurrency…

Nov 29, 2017
Dou Shicong
Three Chinese Finternet Sites Trim Interest, Loan Rates Off Their Own Bat to Fit New Rules

Three Chinese Finternet Sites Trim Interest, Loan Rates Off Their Own Bat to Fit New Rules

China's regulators have lately striven more to rectify internet finance (Finternet), small loans above all.

Nov 28, 2017
Dou Shicong
Annualized Interest Rates of Products on Alipay’s Shenghuohao Loan Platform Should Not Exceed 24%, Ant Financial Says

Annualized Interest Rates of Products on Alipay’s Shenghuohao Loan Platform Should Not Exceed 24%, Ant Financial Says

Ant Financial Services Group, the financial services arm of Chinese internet giant Alibaba Group Holding Ltd. [NYSE:BABA], has imposed new…

Nov 24, 2017
Liao Shumin
Zhima Credit Ends Partnerships With Problematic Cash Loan Platforms

Zhima Credit Ends Partnerships With Problematic Cash Loan Platforms

Although the government has not yet published regulations on the cash loan industry, the market has become increasingly prudent, Tencent Finance reported.

Nov 21, 2017
Xu Wei
Chinese Online Lender Qudian Reportedly Suffers Data Leak Related to Millions of Student Users

Chinese Online Lender Qudian Reportedly Suffers Data Leak Related to Millions of Student Users

Chinese peer-to-peer lending platform Qudian Inc. [NYSE:QD], which listed on the New York Stock Exchange last month, has reportedly exposed…

Nov 21, 2017
Zhang Xia
Value of China’s Payday Loan Industry Hits CNY1 Trillion as High Interest Rates Arouse Regulatory Concern

Value of China’s Payday Loan Industry Hits CNY1 Trillion as High Interest Rates Arouse Regulatory Concern

Low borrowing thresholds and high loan interest rates have seen payday loan platforms develop rapidly in recent years, with the…

Nov 21, 2017
Ying Yi

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