Alipay believes biometrics will kill passwords

LIVE FROM GSMA MOBILE WORLD CONGRESS SHANGHAI 2015: Jason Lu, vice president with Alipay, predicted traditional passwords will be succeeded by biometric verification for mobile payments, as the Chinese giant turns financial services into a mass market product. The Alipay …

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Alipay believes biometrics will kill passwords

LIVE FROM GSMA MOBILE WORLD CONGRESS SHANGHAI 2015: Jason Lu, vice president with Alipay, predicted traditional passwords will be succeeded by biometric verification for mobile payments, as the Chinese giant turns financial services into a mass market product. The Alipay …

The post Alipay believes biometrics will kill passwords appeared first on Mobile World Live.

Xiaomi launches money-market app

China’s fast-rising Xiaomi is partnering with a local fund management firm to give consumers access to investment funds via a smartphone app. The country’s largest smartphone maker is looking to compete against its domestic rival Alibaba, the country’s largest e-commerce …

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Alibaba unit to set up internet bank in June

Alibaba has announced that its finance arm, Ant Financial, will set up a private internet bank in June. Ant Financial will hold a 30 per cent interest in MYbank, while the Shanghai-based Fosun Group will have a 25 per cent …

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Alibaba, Xiaomi team up on payments via wearables

Alibaba’s finance arm and fast-growing smartphone maker Xiaomi said today they are partnering to allow payments via wearable devices. The system works by linking Alibaba’s Alipay Wallet mobile app with Xiaomi’s Mi Band smart fitness bracelet to enable users to …

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China’s mobile payment GMV quadruples

China’s third-party mobile payment gross merchandising volume (GMV) expanded almost fourfold (391 per cent) last year to CNY5.99 trillion ($970 billion). After two years of explosive growth (700 per cent in 2013), Beijing-based iResearch predicts growth will start to slow …

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Alibaba leads investment in Indian m-pay firm — report

Alibaba and its Alipay unit are in negotiations to acquire a 30 to 40 per cent stake in One97 Communications, the Indian owner of a leading m-commerce platform called Paytm,  according to Reuters. This price would be about $550 million. …

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China’s Alipay to offer fingerprint authentication for iPhone 5s users

Alipay, the payments unit of e-commerce giant Alibaba, will enable Chinese users of the iPhone 5s running iOS 8 to authenticate online payments by leaving their fingerprint, according to China Business News. Fingerprint-based payments via Alipay are already possible with …

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Mobile payment grows share of all transactions — Alipay

According to a report by Alipay, the payments unit of e-commerce giant Alibaba, in the first 10 months of 2014 more than half of all transactions it handled were through mobile phones. In comparison, the figure for all of last …

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