Mastercard’s joint venture receives approval to commence domestic payments in China
Mastercard’s JV received formal approval from the People’s Bank of China.
Tencent
Digital banking group Tyme lands $77.8m in pre-Series C funding
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
South African challenger bank Tyme completes $180m Series B with Tencent investment
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
South African e-payments platform Ozow lands $48m in Series B funding
The paytech says cash will help deepen financial inclusion on the African continent.
Voyager Innovations raises $167m to power digital banking push
Tech firm aims to provide banking to 38 million customers.
European neobroker Scalable Capital raises $180m in Tencent-led funding round
This latest funding round brings the firm’s total capital raised to over $320 million.
Bux raises $80m to boost European zero commission investing app
The neo-broker targets younger generations with further roll-out of BUX Zero.
Tencent suffers $65bn market value blow, analysts put fintech business at “zero”
Tencent, like Ant, holds a financial foothold in China which rivals banks.
Trump bans transactions through Chinese apps including Alipay
The applications have 45 days to prepare for the ban.
Square and Tencent lead €93m Satispay funding round
The Italian paytech firm has recorded “significant growth” in 2020
WeChat transactions ban blocked by US judge
Issues over First Amendment rights causes US magistrate to block US ban.
Chinese regulators consider AliPay and WeChat antitrust probe
The People’s Bank of China is serious about curbing the giants’ dominance.
Singapore’s ADBC signs MoU with Tencent Cloud
New Singapore bank plans cloud boost.
WeChat to offer credit scoring to its 600m users
Th Big Tech will attribute “payments points” to determine a “trust” value.
Tencent buys 5% stake in Aussie fintech Afterpay
It puts Afterpay at a market capitalisation of more than AUD 8 billion ($5.1 billion).
WeChat Pay boosts UAE footprint with Network International
Network International partners now able to connect to WeChat Pay.
Qonto raises $115m round led by Tencent
The SME challenger bank says it’s the largest funding round ever for a French fintech.
Lydia raises €40m in Tencent-led Series B funding round
Tencent-backed funding to be used to avoid “costly mistakes”.
Chinese regulators planning digital banking go-ahead
New set of rules could see a bevy of digital challengers in China.
Tencent brings third player UnionPay to China’s mobile payments arena
UnionPay’s QuickPass serves just 240m users, whilst 1.2bn use Tencent’s WeChat.
Argentine money manager Ualá raises $150m in round led by SoftBank and Tencent
Bloomberg says Ualá is close to a $1 billion valuation.
Tencent plans blockchain-based virtual bank on back of new Hong Kong licence
Chinese conglomerate nabs its second licence from regulators.
N26 extends Series D funding to $470m
The company is now valued at $3.5bn
N26 launches MoneyBeam for UK users
MoneyBeam lets users receive or transfer up to £100 with other N26 users in the UK.
Hong Kong grants four more virtual bank licences
These banks will be launched by Ant Financial, Xiaomi, AMTD, Ping An, and Tencent.
Video: fintech news weekly round-up – 30 April 2019
SoftBank invests in Wirecard, Tencent in Argentinian Uala, and other Visa news.
Tencent takes a gamble on Argentina’s Uala
The amount of the equity investment has not been disclosed.
Tencent taps University of Hong Kong for fintech talent
They will offer workshops, internships and a Bachelor of Arts in fintech.
Tencent-backed WeBank eyes Australian expansion
Chinese digital bank is applying for trademarks Down Under.
Philippines’ Voyager Innovations reaches $215m funding
Latest $40m injection follows juicy $175m investment last month.
Top fintech stories this week – 12 October 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Tencent invests $180m in Brazilian challenger Nubank
Takes the bank’s valuation to a lively $4 billion.
KKR and Tencent lead $175m investment in Philippines’ Voyager Innovations
“Largest investment to date in a Philippine tech company.”
Aviva turns digital insurance air Blue in Hong Kong
JV owned by Aviva, Hillhouse Capital, and Tencent.
Stripe and Visa join $8m funding round in African start-up Paystack
Nigerian payments firm also gets help from Tencent and Y Combinator.
Alipay and Tenpay fined for breaking Chinese FX rules
China wants to keep money within its confines.
China surging in payments technology: lessons for the West
What has driven the explosive growth of Asian paytech from giants such as Ant Financial and Tencent? And what’s next?
Old world aces new world
With sizeable market shares, China’s mobile payments giants Alipay and WeChat Pay are seeking international expansion. What’s next for the tech giants?
Intel and Tencent team up for blockchain tech
Chinese investment holding company Tencent and US-based Intel have joined forces to co-operate on blockchain projects.
China dreams of AI domination
The Chinese government has set out its bold vision to become a global leader in artificial intelligence (AI) by 2030. In a Cabinet statement, the government sees AI as integral to making China an “economic power” and is calling for the development of skills, research and educational resources to achieve “major breakthroughs” by 2025 and […]
