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China plans online payment rules that may hit Ant, Tencent

Payments Source

China proposed measures to curb market concentration in its online payment market, potentially dealing another blow to financial technology giant Ant Group and its biggest rival Tencent Holdings.

Online 154
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Prosper Shutting Down Secondary Market For Loans Later In October

PYMNTS

Prosper, the P2P lending marketplace, is reportedly closing down the secondary market for its loans later this month. The company doesn’t operate the secondary market itself but outsources to FOLIOfn, which is operated and maintained by FOLIOfn Investments, which is a registered broker dealer.

Marketing 170
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Why FinTech start-ups think they can beat the banks

Chris Skinner

These companies include firms like Stripe, a six-year-old start-up that is the preferred code for building online checkout services. The reason why they have gained such a valuation is that they have taken something the banks make difficult – setting up online payment services – and made it incredibly easy.

Fintech 361
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Chinese Official: Ant IPO Could Get Back On Track When Issues Are Resolved

PYMNTS

While Ant calls itself a financial technology company (FinTech), China’s financial regulators are starting to view it as being more like a bank. That’s based on possible proposals from Chinese regulators to curb market concentration in the country’s online payments market.

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SoftBank Reportedly Tapping Into Online Used Car Trend

PYMNTS

Among the ongoing trends in retail is the funding for online used car platforms, and the ongoing rise of eCommerce and digital payments in Latin America. Consumers who want to sell their cars via that platform reportedly seek an online price estimate. “If The latest evidence of that comes via Japan-based SoftBank. Used Vehicle Trends.

Trends 115
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Revolut Brings Open Banking To Germany In Deal With TrueLayer

PYMNTS

Open banking lets third-party financial service companies to have access to a consumer’s banking transactions and other financial data from financial institutions (FIs). Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company.

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Citi Teams With Cachematrix To Revamp Online Investing Experience

PYMNTS

Citi is leveraging a newly formed strategic partnership with Cachematrix to create an online investment gateway for money market funds (MMF), Citi announced in a press release on Tuesday (Oct. The alliance intends to pilot development in the handling of money market funds to automate and simplify investment decisions. “The

Online 100