Asia

SBI Cards & Payment Services Ltd. declined in its stock market debut as investor uncertainty stemming from the coronavirus pandemic cast a shadow over the listing of India’s first pure-play credit card issuer.

Australia’s Airwallex group is seeking about $200 million in a series D equity funding round to bankroll its cross-border payments business globally, according to people familiar with the matter.

Just two months after UnionPay bolstered its support of QR code payments in China through an arrangement with Tencent Holdings Ltd., the company is working with Network International to initiate its first pilot for QR code payments at a merchant location in the UAE.

Alipay, the mobile payment app owned by billionaire Jack Ma, is stepping up its competition with WeChat to get more of its 900 million users to tap expanded services in everything from real estate purchases to restaurant and cinema bookings.

Alibaba Group Holding Ltd.’s parcel and meal delivery arms have returned to pre-coronavirus outbreak staffing levels, the latest example of how China’s largest corporations are getting back to work after Beijing’s entreaty to safeguard economic growth.

The Reserve Bank of India has temporarily halted operations at the struggling Yes Bank, leaving fintechs without a place to process payments.

Afterpay, whose online installment loans are seeing strong growth in the U.S. apparel sector, has partnered with Oakland, Calif.-based processor Marqeta to develop additional payment products and services.

India's 2018 ban on banks servicing traders and businesses dealing with cryptocurrencies has been overturned by the country's Supreme Court, opening the door for bitcoin and Facebook’s Libra.

The global efforts to contain the coronavirus outbreak are leading to drastic actions that test the limits of what consumers will accept when governments and other entities use their payment data.

The financial services affiliate of Alibaba Group Holding Ltd has agreed to buy a minority stake in Klarna, and will expand its international partnership with the Swedish payments firm.