BPI’s Vybe E-Wallet Emerges as a Game-Changer in the Philippine Banking Landscape
BPI, the Bank of the Philippine Islands, aims for exponential growth with the launch of Vybe, its innovative mobile wallet. The Ayala Group-owned bank plans to attract over 50 million customers by 2028, leveraging Vybe’s convenient payments and rewards system. As the banking sector thrives amidst rising interest rates, BPI reports a record-breaking net income of P39.6 billion in 2022. With the official release scheduled for October, Vybe will compete with other e-wallets like GCash, further enriching the digital banking landscape in the Philippines. BPI’s strategic approach to digital expansion positions them as a leader in the country’s financial sector.
Ant-linked firms’ shares rise after news of Jack Ma ceding control; Alibaba jumps
Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.
Exclusive: China set to fine Ant Group over $1 billion, signalling revamp nears end-sources
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul.
Alibaba aims to add primary listing in Hong Kong, woo China investors after crackdown
Alibaba (9988.HK) plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes the first big company to take advantage of a rule change in the financial hub to attract high-tech Chinese firms.
Investors in India’s Paytm have no access to payments bank data, CEO says
Investors in India’s Paytm (PAYT.NS) do not have access to customer data of its payments bank, CEO Vijay Shekhar Sharma told Reuters in an interview on Monday, seeking to allay concerns over reports of user data being leaked to Chinese firms.
China’s Ant highlights distinction between NFTs and cryptocurrencies
China’s Ant Group sought to draw a distinction on Wednesday between non-fungible tokens (NFTs) available on its platforms and cryptocurrencies currently subject to a crackdown by Beijing, after users expressed confusion.
Bitcoin steadies in Asia trading after Monday’s plunge
Bitcoin stabilised in Asian trading on Tuesday morning a day after a statement from China’s central bank reaffirming the ongoing crackdown on cryptocurrencies in the country sent the world’s largest token to a two-week low.
China urges banks, Alipay to crack down harder on cryptocurrencies
China’s central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank (601939.SS) and Alipay, urging them to crack down harder on cryptocurrency trading.
EXCLUSIVE Chinese apps could face subpoenas or bans under Biden order -sources
President Joe Biden’s executive order aimed at safeguarding Americans’ sensitive data would force some Chinese apps to take tougher measures to protect private information if they want to remain in the U.S. market, according to people familiar with the matter.
