Ant Financial updates payments app

Ant Financial – an affiliate of China’s e-commerce giant Alibaba – beefed up its payments app with a greater focus on local services, and added new features including messaging and P2P money transfer. Formerly known as Alipay Wallet, the new app is called …

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Alibaba boosts stake in SingPost to 15%

Chinese e-commerce giant Alibaba plans to invest an additional SGD279 million ($207 million) in Singapore Post (SingPost) and its e-commerce subsidiary. Alibaba, which acquired about a 10 per cent stake in SingPost for $249 million last year, is expanding that …

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Snapdeal hires Airtel CMO

Indian online marketplace Snapdeal has hired Bharti Airtel’s business-to-consumer CMO Govind Rajan and appointed him as its new chief strategy officer. Rajan, who also headed Airtel Money, will take on the new role in August. The appointment comes less than …

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Alibaba builds position in India’s Paytm – report

China’s Alibaba is in “advanced talks” to buy a stake in India m-commerce firm Paytm, as the country’s mobile payments market looks set for rapid expansion. According to Reuters, the deal would see Alibaba directly invest about $600 million in …

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SoftBank forms robot venture with Alibaba and Foxconn

Japanese mobile operator SoftBank is teaming up with China e-commerce giant Alibaba and contract manufacturer Foxconn to set up a robot venture to sell its human-like robot globally. Reuters reported that SoftBank, Japan’s third largest mobile player, would have a …

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Alibaba, Foxconn look to invest $500M in Snapdeal — report

Alibaba and Foxconn are discussing investing around $500 million jointly in Snapdeal, an Indian e-commerce startup, The Wall Street Journal (WSJ) reported, a move they believe makes more sense than doing so separately. The investment would value the company, an online marketplace …

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Walmart, Alibaba partner on mobile payments – report

US retail giant Walmart seems to be making greater progress with a plan to offer in-store payments via mobile phones in China than its more higher profile service back in the States. According to Xinhua, the retailer is joining forces …

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Apple mulls China launch for mobile payments

Apple CEO Tim Cook strengthened speculation about the next destination for its mobile payment service with comments to Xinhua on a visit to China. “We very much want to get Apple Pay in China,” said Cook. Apple has been talking …

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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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