Asia

Three years ago, Alipay began its brick-and-mortar conquest of North America, promoting acceptance of the Alibaba affiliate Ant Group's mobile wallet at shops targeting Chinese tourists, eventually reaching thousands of U.S. and Canadian stores.

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns.

China has a huge market and entrenched payment firms, but a record of digital adoption that makes it a prime market, says PPRO's Steve Villegas.

India’s antitrust watchdog is reviewing Facebook Inc.’s purchase of a 10% stake in Reliance Industries Ltd.’s digital assets, a deal that would give the U.S. giant another foothold in one of the world’s fastest growing internet markets.

Mobile commerce provider Bango has added Softbank Corp. customers to its list of Japanese mobile phone carriers whose customers can now make purchases in their Amazon accounts and charge the cost to their phone bill.

Given American Express was reporting a 95% hit to one of its core businesses less than two months ago, announcing access to the world’s largest digital payments market has to be a major sigh of relief — even if there’s still entrenched competitors, an international virus and a cold war to navigate.

Japanese credit card giant JCB plans to use technology from FIS to enable cross-border QR code payments as digital wallet use rises across Asia.

New York State regulators may bring an enforcement action against the German bank as early as this month; Wells Fargo’s decision to stop making loans to the dealers has more to do with credit quality than asset limits.

As small businesses' cash flow tightens during the pandemic, Alibaba Group is enabling SMBs to postpone payments for 60 days on cross-border e-commerce purchases.

DBS Bank India is offering a real-time digital payment service for truck drivers and supply chain companies that generally have round-the-clock operations and large transaction volume to cover employee expenses.