Fintech

Chinese fintech firms have identified the Indonesian market as an attractive expansion destination given its resemblance to the early days of China’s fintech revolution.

The new financial products include investment and loan services.

Payfazz enables online payment points in rural areas of Indonesia. The firm currently works with over 250,000 agents serving 10 million users.

India ranks second after China among developing countries where residents don’t have a bank account or access to financial services.

The company believes that the future of fintech is a convergence between banks and retailers.

Wang Xing, founder and chairman of Meituan, seemed to call out Alibaba on social media over the fact Taobao users cannot pay with WeChat.

Ant Group eyes the largest IPO of 2020 with a dual listing in Shanghai and Hong Kong.

StashAway’s assets under management have grown more than 330% in the last year.