Alibaba has added Adyen as a processor, giving the Chinese e-commerce giant an added option to acquire merchants to feed its business for Chinese travelers.
Adyen will support Alibaba and its affiliated Alipay app for transactions on AliExpress, Taobao, Tmall and Alibaba.com brands.
Signage for Alibaba Group Holding Ltd. is displayed at the company's offices in Hong Kong, China, on Thursday, May 5, 2016. Alibaba's HK$1 billion fund for Hong Kong entrepreneurs is investing in GoGoVan, a hauling and delivery service that's one of the city's biggest startups, and other online services. Photographer: Justin Chin/Bloomberg
Justin Chin/Bloomberg
Ant, Alipay and Alibaba built their international business largely by acquiring local merchants through collaborations with payment processors.
Alibaba's Adyen announcement follows affiliate Ant Financial's $700 million acquisition of WordFirst, a London-based payments company, which gave Ant and its brands more of a foothold in Europe — and a counterplay against Amazon and Western Union's collaboration in the region.
Coming off of one of Europe's largest technology IPOs in 2018, Adyen has broadened its merchant reach through recent deals to support Interac's debit network in Canada and The Gap in Europe. Adyen's big coup in recent years was luring eBay's payment processing business away from PayPal in 2018.
A new study has decoded banks' television commercials, analyzing what the messaging reveals about the bank behind the advertisement. When an ad leans too hard on emotions, researchers found, viewers should beware.
The head of the government-sponsored enterprise's oversight agency said the cuts were made to positions that weren't central to mortgages and new home sales.
The Billings, Montana-based bank finds itself in the crosshairs of a high-profile activist investor. On Thursday, it stuck to its organic growth plan and said it isn't interested in using its excess capital to restructure its securities book.
Top SBA lenders are warning about the impact of a prolonged shutdown. NewtekOne skipped providing fourth-quarter guidance after its CEO said the situation was too cloudy to forecast.
The U.K. bank's "Scam Intelligence" tool uses Google's Gemini to analyze images and texts for red flags, aiming to reduce losses from authorized push payment fraud.
A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.
