Vanguard Sees Ant Group Partnership as Cornerstone of Its China Strategy U.S.-based Vanguard, the world’s second-largest asset manager, is focusing on its joint venture with Ant Group as its main route into China. Its service on the Alipay app is called “help you invest” in Mandarin and had over-500,000 Chinese users at the end of 2020. Read more in the Wall Street Journal.
Trust-Building With Blockchain Among Fintech’s Trends in 2021: Ant CTO Fortune Magazine published an op-ed by Ant Group Chief Technology Officer Ni Xingjun where he described the priorities for fintech innovation this year. These include blockchain and privacy-preserving computation technology to deepen global cooperation, strengthening financial inclusion, and spurring green efforts to address climate change. Read the piece in Fortune.
Tech for Good bKash Joins Government Incentive Program to Support Bangladeshi Farmers The Bangladeshi government is providing incentives to nearly half a million local farmers affected by tax in the country’s fisheries and livestock sectors. The stimulus is being distributed by mobile financial services provider bKash, as well as through cash and bank accounts. Full details in Dhaka Tribune.
Philippines Picks GCash to Distribute Subsidies for Covid-Impacted Drivers The Philippines Department of Transportation selected GCash to distribute subsidies to qualified Public Utility Vehicle drivers, such as jeepney and bus drivers. Approximately 60,000 drivers impacted by the pandemic will receive a monetary subsidy through GCash, providing additional income from this program. Read more in the Manilla Times.
Around the World Pernod Ricard Global Travel Retail Partners with Alipay to Boost Digitalization A three-way partnership between Pernod Ricard Global Travel Retail, Alipay and China Duty Free Group was recently announced to connect the retailers with consumers through innovative digital solutions on Alipay. The collaboration started with a digital coupon promotion for shoppers at Pernod Ricard-owned boutique, Martell. Read more here.
bKash Receives Highest Security Certification Bangladesh’s largest mobile service provider, bKash, has become the country’s first to receive the payment card industry data security standard (PCI DSS) certification, one of the industry’s highest security standards for safeguarding consumer data. Read more in Financial Express.
GCash Partners with Telcoin for Canada-Philippine Remittance; Launches Global Funds The mobile wallet launched an affordable and convenient remittance corridor between Canada and the Philippines in collaboration with blockchain fintech platform Telcoin. See the news here. Separately, GCash is also offering new global feeder funds on its mobile application that provides more options for users to invest their saving in local equities and bonds. Read more here.
Did You Know? China Set to be First Country with Majority of Sales From E-commerce in 2021 Research firm eMarketer expects China will be the first country in the world with a majority of retail sales transacted online, as the pandemic has boosted the trend of online spending, as reflected in the better-than-expected Spring Festival holiday sales in February. Read more in South China Morning Post.
Alipay on Social Social Media Highlight – Instagram
To celebrate Spring Festival, we launched a Year of the Ox filter that encouraged participants to take part with their friends or family members in order to “summon” a special feature. The campaign attracted almost 40 million views in eight days, with 1,500 netizens sharing their works.