Customers of China Telecom, the third largest network in China, will soon find their smart phones pre-installed with e-commerce platform Alibaba’s apps. The company’s most popular apps like Taobao Marketplace and its social messaging app Laiwang will be installed on China Telecom’s 3G smartphones as part of a new partnership between the companies.
News of the deal comes on the cusp of the company’s decision to go public within the next year, which could bring its value to USD100bn. Alibaba has been beefing up its foothold in web browsers this past year,buying a stake in UC Web and linking up with Qihoo 360 to launch a shopping search engine.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.