PBOC Halts Virtual Credit Cards And Mobile Payments In China

The People’s Bank of China has issued an emergency alert to stop the use of virtual credit card products as well as two-dimensional code payments that are often used with mobile devices. Chinese Internet companies like Alipay and Tencent previously launched such services. However, neither company has given any comment on the situation. The emergency […]

Sina, UnionPay Team For Chinese Internet Payments

Just as the hectic Chinese Lunar New Year holiday shopping and travel season peaks, two of China’s business titans have joined forces to make online shopping faster and easier. China UnionPay, Sina.com, and Sina’s payment subsidiary jointly announced that the three parties have reached a deal to further improve Internet payment services by integrating their […]

China’s Weibo, Alipay Team For Internet Payments

Sina.com and Alipay.com announced that the two parties will realize full intercommunication between Sina Weibo and Alipay accounts to provide convenient Weibo payment services to users in China. With the cooperation, users will be able to complete online payments on the Weibo microblogging platform as well as use for offline daily retail consumption with the […]

Bitcoin Value Steadies After Chinese Government Warning Drop

Five Chinese government units, including the People’s Bank of China, Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission, have jointly issued a notice about preventing risks against Bitcoin speculation. Though the warnings were not full condemnations of the cyptocurrency, sell prices on exchanges as […]

China’s Alipay Targets China’s Rural Areas With Online Payments

Alipay.com, the Internet payment subsidiary of Alibaba Group, confirmed that the company has formally established a new rural business unit, aiming to reach non-e-commerce users in third- and fourth-tier cities as well as in rural areas.

Tencent Cooperates With American Express For Internet Payments

Chinese Internet company Tencent’s online payment service Tenpay and American Express have reached cross-border payment cooperation and the two parties have jointly launched a new virtual payment product.

Alipay.com’s New Platform Will Integrate Internet Shopping, Banking Accounts

Alipay.com, the Internet payment subsidiary of Alibaba Group, launched a new platform to integrate various Internet accounts, covering Internet shopping and banking.

360buy.com Offers Interest-free Loans To Employees

Chinese B2C e-commerce website 360buy.com has announced plans to offer interest-free housing and car loans to employees, and the total amount available will reach several hundred million Renminbi.

China’s 99bill.com Launches New Online Payment Brand

Chinese third-party Internet payment company 99bill.com announced that it will launch a new brand image and its new brand core value will focus on providing professional and effective liquidity management solutions to enterprises.

China’s Tenpay, American Express Join For International Internet Payment Services

Tenpay, the Internet payment subsidiary of Chinese technology firm Tencent, and American Express have reached an agreement to jointly provide Internet payment services to Tenpay’s overseas users who purchase goods from American Express vendors.

Heightened Chinese Inflation Pushes Renren.com To Offer Employee Loans

Chinese social networking website Renren.com has announced that it will launch an interest-free housing scheme, and employees can apply for loans of between CNY200,000 and CNY400,000.

Alibaba’s Internet Payment Subsidiary Loses Online Retailer In China

Chinese B2C e-commerce website 360buy.com has published a notice, stating that its cooperation with Alipay.com, the Internet payment subsidiary of Alibaba Group, expired on August 24, 2011, and the company will now stop the use of payment services at Alipay.com.

A Boss With Benefits: Alibaba Responds To China’s Rising Inflation

Chinese B2B e-commerce group Alibaba has announced plans to launch a CNY3 billion housing loan scheme for its employees and a CNY500 million education fund to solve the preschool and primary education problems of children of its employees.

Twenty-seven Chinese Companies Gain Third-party Payment Licenses

The People’s Bank of China has published a report saying that it has issued licenses for non-financial institutions to operate payment businesses to 27 companies, including Alipay.com.

Lenovo, Nikoyo Sign MOU In Beijing

Lenovo Group and Hong Kong-headquartered Nikoyo have signed a memorandum of understanding in Beijing to implement marketing and sales cooperation.

Standard Chartered Bank Forms Strategic Partnership With China Telecom Shanghai

China Telecom’s Shanghai branch and Standard Chartered China have signed a strategic agreement to implement cooperation in financial services and information communications.

Alipay.com Teams With Chinese Banks For Convenient Internet Payments

Alipay.com, the Internet payment subsidiary of the Chinese e-commerce group Alibaba, has announced that it has launched a new convenient Internet payment service.

Germany’s Wirecard Forms Alliance With Alipay.com

Munich-headquartered Wirecard AG and the Chinese third-party Internet payment platform Alipay.com have signed a cooperation agreement to provide fast and secure payment services to Internet users.

China’s Alibaba, SRCB Form Partnership

China’s B2B e-commerce group Alibaba and Shanghai Rural Commercial Bank have reached a comprehensive strategic cooperation agreement to jointly provide services to small- and medium-sized enterprises as well as farmers in rural areas in China.

China’s Alipay Launches New Open Platform Model

Alipay, the third-party Internet payment subsidiary of Alibaba Group in China, has announced the launch of a new strategy to open its platform to external service providers.

Alibaba Plans To Open Physical Banks In China

Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People’s Bank of China and China Banking Regulatory Commission.

China’s Super Online Banking System Launched In Four Cities

The People’s Bank of China’s second generation Internet payment system, which is also know as the super online banking system, has been formally launched in Shenzhen, Tianjin, Beijing, and Guangzhou.

China Telecom Chongqing To Promote Mobile Payment On Campuses

The China Telecom Chongqing branch has launched a new mobile payment platform for students, aiming to promote the information development on campuses via the Internet of Things technologies.

Alipay.com Launches Joint Security Campaign With Chinese Banks

Alipay.com, the Chinese third-party Internet payment platform and a subsidiary of the B2B e-commerce group Alibaba, has launched a joint security and risk control program with major Chinese banks.

China’s Alibaba Establishes Small Loan Company

Chinese B2B e-commerce group Alibaba has established a small loan company in Zhejiang to provide loans below CNY500,000 to its sourcing and procurement clients in Zhejiang.

Alipay.com, MasterCard Reach Online Payment Deal For Greater China

Chinese third-party Internet payment platform Alipay.com has inked a cooperation deal with the international credit card organization MasterCard, to officially launch payment services with MasterCard in Hong Kong, Macau, and Taiwan.

Shanghai’s Internet Cafe Industry Gains First Financial Support From Bank

The Shanghai Internet Cafe Industry Association and Bank of Hangzhou have reached an agreement to launch a joint guarantee loan program for Internet cafe operators in Shanghai, according to information from the official website of Shanghai Municipal Administration of Culture (Radio), Film & TV.

ICBC, Ping An Insurance Sign E-commerce Cooperation Agreement

Industrial and Commercial Bank of China and Ping An Insurance (Group) have signed an e-commerce strategic cooperation agreement to implement business cooperation in related areas.