China’s central bank is holding a closed-door meeting with several domestic bitcoin exchanges on Wednesday, people familiar with the matter said, heightening concerns that regulators will tighten their oversight of trading in digital currencies.
Little-noticed during India’s cash-crunch late last year — triggered by the government’s demonetization of about 80% of its currency — was Samsung Pay quietly testing the waters in India with an eye to opening up vital new digital payment options in a nation that relies heavily on cash for everyday transactions.
To date, Ant's Alipay has been comparable to PayPal, seldom venturing beyond payments. The financial products Alipay plans to pursue as it enters new markets put it more firmly in direct competition with mainstream banks.
Alipay's deal to buy MoneyGram for $880 million may be the centerpiece of its strategy to expand beyond China's borders, but it's not its first move in recent months. The Alibaba payments affiliate has already extended its reach in several other ways.
Alibaba Group Holding Ltd. raised its full-year sales forecast after quarterly results beat estimates, as Chinese spending stays strong and the company wrings revenue from fledgling areas such as cloud computing, entertainment and search.