Spain’s Second Largest Bank to Use Alibaba’s Alipay Payment Services

Chinese tourists will be able to use Alipay mobile wallet in Spain thanks to an agreement signed between Spanish bank BBVA and China’s Ant Financial Services Group, BBVA reported on Wednesday [28 June 2017]…Full Article: China Daily June 2017 Key Point Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, is the first Spanish financial company

China’s UnionPay Cards Now Accepted by BPS-Sberbank

BPS-Sberbank has become the second commercial bank in Belarus to accept China’s UnionPay cards, according to Shanghai-based UnionPay International Wednesday [12 April 2017]. According to the agreement, BPS-Sberbank will accept and issue UnionPay cards within the year and the two parties will also cooperate on launching mobile payment services in Belarus…Full Article: ECNS.cn Apr 2017

Agriculture-related Loans Topped CNY 28 Trillion at the End of 2016

Chinese banks strengthened financial support for agriculture, small-and-micro enterprises and affordable housing projects last year. Outstanding agriculture-related loans stood at 28.2 trillion yuan (about 4.1 trillion U.S. dollars) at the end of 2016, up 7.1 percent year on year, according to a statement posted on the website of the China Banking Regulatory Commission. Outstanding loans

Australian Grocery Chain Woolworths to Accept China UnionPay Cards at its Supermarkets

The Australian grocery giant Woolworths said on Tuesday [7 February 2017] that it will now accept UnionPay cards at its stores; China’s leading debit and credit cards. Woolworths will offer all forms of UnionPay payment, including the contactless mobile based transactions at its terminals…Full Article: China Daily Feb 2017 Key Points According to China UnionPay

Alibaba’s Ant Financial Services Plans to Dole Out CNY 1 Trillion in Rural Loans Over the Next 3 Years

Ant Financial Services Group, Alibaba Group Holding Ltd’s financial-services affiliate, has ramped up its expansion in rural finance-with the company announcing on Tuesday [20 December 2016] that it will provide so-called acquaintance-based loan services, big data-based online loan services and supply chain financing for the rural population in China. Acquaintance-based loan services is a new