The end of 2015 could not have been stronger for the Chinese FinTech scene. In October, China’s central bank introduced a new cross-border payment system to allow yuan-based clearing transactions. In November, Chinese Alibaba consumers spent an astounding $14.3 billion on Singles Day, the biggest online shopping day in the world. In December, UnionPay launched its mobile payment service and partnered with Apple to bring the latter’s mobile payment service to China this year.
The infographic below, made by our sister publication Bobsguide, goes a long way to explain just why the likes of Apple are scrambling to make a mark in the Chinese market.
The Emerging Payments Association discuss the impact of Brexit on the fintech industry at the latest payments industry event.
Jonathan Quin, co-founder and CEO of World First, explores how established financial institutions and newer fintech disruptors stand to benefit from collaborating with one another in the fast-moving financial services sector.
With advancements in technology and the subsequent availability of data, it seems surprising that banks seem to know less about their customers than ever before.