Asia

Bankwest customers in Australia may soon be making payments with a fist bump.

Ant Financial, the internet finance behemoth controlled by billionaire Alibaba founder Jack Ma, has apologized for roping unsuspecting users into its fledgling but fast-growing credit-score system.

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.

After a year of trying to appease U.S. regulators, Ant Financial and MoneyGram have terminated their merger agreement, challenging the Chinese company's strategy for global expansion.

While interest from the West has so far been tepid in the region, this is an opportune time for fintech investors to look at participation in the Southeast Asian market, writes Alexander Koles, CEO and founder of Evolve Capital Partners.

China's central bank has put the brakes on mobile and e-commerce payment schemes in the past, mostly from the standpoint of having a wary eye on third-party players elbowing their way into financial services.

China's Ant Financial Group, the company behind Alipay, was among eight companies that EMV standards governing body EMVCo has named as technical associates to its secure-payment consortium.

Alipay is chasing Chinese tourists to Japan, where it’s signing up a growing number of retailers and eyeing the long-term potential of the nation’s $45 billion digital payments market.

TransferTo and Cellum, a leading international mobile wallet provider, have formed a strategic partnership enabling Cellum to expand its services by leveraging TransferTo’s cross-border payments network.

Global testing laboratory FIME is opening its first office in China to meet demand for Chinese payment vendors expanding globally.