Payments

Alibaba is bearing the brunt in a new campaign targeting influential Chinese tech giants.

In January, Pine Labs reportedly secured around USD 100 million from Master Card at a valuation of USD 1.5-1.6 billion.

The Facebook-owned company is currently allowed to extend its payment service to a maximum of 20 million users for peer-to-peer transactions.

Grab, Ant, and other heavyweights join drive for greater financial inclusion.

An “offline wallet” function will enable mobile payments without the need to be connected to the internet.

Walmart has also led a funding of USD 700 million in PhonePe.

Regulators reportedly reached out to the leasing firms Ziroom and 5i5j, as well as China Construction Bank to explore if they can take over Danke’s business.

Cred rewards credit card holders with points for paying their bill on time.