A former senior executive at Equifax Inc. was criminally charged for allegedly selling almost $1 million worth of shares before the company’s announcement last year that it had suffered a massive data breach.
Ant Financial’s consumer lending has reached at least 600 billion yuan ($95 billion) despite the affiliate of Alibaba Group Holding Ltd. facing a tougher environment for securitizing its loans, people familiar with the matter said.
Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases.
The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.