Fintech

While the BNPL payment method may boost e-commerce spending, it can also drive consumerism and potential debt among consumers.

Regulators have outlawed all crypto transactions and services in China, prompting shifts to destinations with friendlier rules.

In 2020, the fintech firm logged USD 14 billion in payment volume.

The startup’s revenue surged 150% in the first half of 2021.

Huabei is utilized by more than 200 million people and will be peeled off from the Alipay super app.

The company currently serves 800 enterprise clients, 100,000 merchants, and 20 million consumers worldwide.

The firm aims to give back “10 billion man-hours” to finance teams across Southeast Asia each year.

With deeper balance sheets, banks have the resources to develop BNPL products but that doesn’t guarantee replication of fintech innovation.