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Jack Ma cedes control of Chinese fintech giant Ant Group
Jack Ma had previously held more than 50 percent of voting shares at Ant Group.
Trump administration bans Alipay and WeChat Pay
The order will take effect after 45 days, long after Trump leaves office.
India bans 'PUBG Mobile' and more than 100 other apps
Since June, India has banned 177 apps with ties to China.
China’s Alipay will add beauty filters when you pay with your face
We all know how startling it can be to accidentally open a front-facing camera and find your own unassuming face looking back at you. Now, imagine if you saw that image every time you made a purchase. In China, Alibaba's e-wallet affiliate Alipay will soon add beauty filters when you pay with its facial recognition system.
Apple apologizes for phishing scam that stole Chinese user IDs
Apple apologized today over stolen Apple IDs that were used to make unauthorized App Store purchases in China. The Wall Street Journal reports that the IDs were obtained through phishing scams. Users had connected their Apple accounts to mobile payment systems Alipay and WeChat Pay; these IDs were then used to purchases through the App Store. "We are deeply apologetic about the inconvenience caused to our customers by these phishing scams," Apple said in a statement to its Chinese users.
Stolen Apple IDs reportedly used for mobile payment theft in China
Users of two major mobile payment services in China -- Alipay and WeChat Pay -- have reported unauthorized Apple App Store spending in recent days, with some losing nearly $300 through fraudulent transactions. The companies say that stolen Apple IDs are to blame, the Wall Street Journal reports, and Alipay has asked Apple to investigate. In the meantime, Alipay is telling its customers to minimize potential losses by reducing how much money can be used from their accounts without a password.
China will cap QR-code payments to tackle fraud
China's central bank is issuing regulations over QR-code-based payments. Paying for things by scanning a barcode with the Alibaba or WeChat app is more common than using cash in the region and now the government wants to keep closer tabs on where the money is going. You might laugh at the idea, but QR codes aren't the punchline in the east that they are here. For instance, plenty of cabbies prefer taking QR payments because it means they don't have to handle small change.
Alibaba opens its mobile payment system to 4 million US stores
Chinese internet titan Alibaba has struck a deal to let its global AliPay customers buy things in the US through First Data, makers of the Clover point-of-sale system. Just don't mistake this for a full American expansion to compete with Apple Pay and Android Pay: The partnership is explicitly aimed to convenience AliPay's 450 million existing global users visiting the US.
Uber makes it easier for Chinese tourists to hail a ride
To stay ahead in the ride-hailing race, Uber has teamed up with the Chinese payments service Alipay. A new partnership means passengers can now hail an Uber outside of China using the Alipay app, rather than Uber's own software. From the home screen, travelers will see an Uber option and have access to the company's regular perks, including driver information and the vehicle's estimated time of arrival. Trip fees will be charged directly to the user's Alipay account in Chinese yuan. Uber's hope is that Chinese tourists will now use its service all around the world, shunning its rivals in the US and abroad, due to their familiarity with the Alipay app.
China could be Apple Pay's 'largest' market
One of China's biggest banks might've spoiled Cupertino's surprise about Apple Pay launching in the region, but, well, now its Thursday debut is official. "We think China could be our largest Apple Pay market," vice president of the service Jennifer Bailey told Reuters. Of course, the hard part will be convincing the Chinese populace that a hardware specific feature is better than apps offered by the likes of WeChat Payment and Alipay. But if any entity has the optimism for such a feat, then maybe it's Apple -- the company hoping you'll buy a $99 Pencil.
Alibaba deal could bring Apple Pay to China
Apple's mobile payment service could get a huge boost if the company can work out a deal with Alibaba, China's do-it-all megacorp. In an interview with The Wall Street Journal, Alibaba's Executive Vice Chairman Joseph Tsai noted his company's desire to partner with Apple. "Right now, I think what we can say is that this is focused on the China market for Apple. We are positive about the potential cooperation, but it depends on the details being worked out," Tsai said. A deal between Alibaba and Apple would make a lot of sense given Apple's recent push to deliver new devices to the nation promptly on launch, as well as Alibaba's expertise in the Chinese e-commerce scene with its Alipay app. It would also make a lot of sense because, you know, money is good and Apple would stand to make a lot (more) of it.
