Asia

Ant Group is planning one of Asia’s largest IPOs while the world’s afflicted by a global pandemic, political turmoil and historic economic stress. Despite the chaos — or perhaps because of it — the timing could be right for Ant to challenge the global order in e-commerce and digital payments.

Afterpay has launched a version of its online installment payment method for in-store use in the U.S. by leveraging Apple Pay and Google Pay.

Tokyo-based payment card network JCB International is positioning itself for post-pandemic tourism growth by signing a deal with 3C Payments to expand payment acceptance in Europe, beginning in Spain.

Three years ago, Alipay began its brick-and-mortar conquest of North America, promoting acceptance of the Alibaba affiliate Ant Group's mobile wallet at shops targeting Chinese tourists, eventually reaching thousands of U.S. and Canadian stores.

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns.

China has a huge market and entrenched payment firms, but a record of digital adoption that makes it a prime market, says PPRO's Steve Villegas.

India’s antitrust watchdog is reviewing Facebook Inc.’s purchase of a 10% stake in Reliance Industries Ltd.’s digital assets, a deal that would give the U.S. giant another foothold in one of the world’s fastest growing internet markets.

Mobile commerce provider Bango has added Softbank Corp. customers to its list of Japanese mobile phone carriers whose customers can now make purchases in their Amazon accounts and charge the cost to their phone bill.

Given American Express was reporting a 95% hit to one of its core businesses less than two months ago, announcing access to the world’s largest digital payments market has to be a major sigh of relief — even if there’s still entrenched competitors, an international virus and a cold war to navigate.

Japanese credit card giant JCB plans to use technology from FIS to enable cross-border QR code payments as digital wallet use rises across Asia.