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Tencent Buys Stake In Chinese eCommerce Co Youzan

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Tencent Holdings is buying over 1 billion shares of Hong Kong-listed eCommerce platform Youzan. Mobile banking has attracted investment from the company as well, most recently investing in German-based N26. According to DealStreetAsia , the deal will give Tencent a 6.7 percent stake in Youzan. HK ($0.068 USD) a piece.

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Top News In Payments: Central Bank Coin Currency At Least A Decade Away; US Economy Could Lose $10B To Chinese Travel Ban

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In today’s top payments news, former Bank of France Governor Christian Noyer said a centralized, global eCurrency is still at least a decade away, the U.S. Former BoF Gov: Central Bank Coin Currency At Least A Decade Away. CyberSource: Helping Merchants Prepare For eCommerce ‘Mini Peaks’. economy could lose $10.3 economy $10.3

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Open Banking, Synthetic ID Fraud, Supplemental Jobless Benefits Top This Week’s News

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We have deep dives into opening banking, synthetic ID fraud and supplemental jobless benefits. . Nike Restructures Corporate Leadership In Digital Push . Salesforce has grown its Order Management products such as the function for firms to allow eCommerce shoppers finish transactions without exiting social media platforms.

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Stripe Says SCA Puts Billions Of Online Sales At Risk

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Amazon , Worldpay , and Stripe — the eCommerce and payment companies — are expressing concern that a lack of preparedness by the industry to new EU security regulations could put billions of dollars of eCommerce purchases at risk. Collison said the rules will require every European merchant to restructure their checkout process. “It’s

Sales 66
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Chinese Officials Join US Politicians In Suddenly Falling Out Of Love With Big Tech 

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Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Reuters quoted central bank Vice Gov. Will Chinese Authorities Force Ant To Restructure? .

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China’s Ant Group Mulling Creation Of New Consumer Loan Unit

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China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Ant was co-founded by billionaire Jack Ma, who also co-founded eCommerce giant Alibaba. China’s central bank told the media on Dec.

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Ant Financial Looking To Resurrect Stalled IPO

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China’s Ant Financial is in discussions with banks to resurrect plans for an initial public offering (IPO) that was shelved over a year ago, the Financial Times reported on Thursday (Jan. In the quarter ending last September, Ant added $309 million to Alibaba’s bottom line, and the eCommerce giant traded its 37.5