For quite a while, I have been amazed by China’s innovations in fintech from Ant to WeBank. My first visit to a Chinese bank in the 1990s, they were using Abacuses to calculate transactions; now they use rocket science in the form of AI. A lot of this was covered in depth in the deep … Read more
China-based purveyors of SMS phishing kits are enjoying remarkable success converting phished payment card data into mobile wallets from Apple and Google. Until recently, the so-called “Smishing Triad” mainly impersonated toll road operators and shipping companies. But experts say these groups are now directly targeting customers of international financial institutions, while dramatically expanding their cybercrime … Read more
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Four of China’s biggest banks will raise a combined Rmb520bn ($72bn) through share sales to investors including the Ministry of Finance, as Beijing seeks to shore up its vast banking sector against pressing … Read more
I just got an interesting report from Visa produced in late 2024. It is focused upon consumers, and their approach to cross-border payments. The research shows that the cross-border payment market is experiencing explosive growth, fuelled by a surge in international travel, ecommerce, and remittances. Consumers are spending more regularly cross-border than ever before and … Read more
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. What Is Zelle? Zelle is a peer-to-peer payment tool that allows users to quickly send money between U.S. bank accounts. Once you enroll your email or U.S. mobile number in Zelle through your mobile … Read more