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First Private Sector Consumer Credit Bureau Launched in China by Alibaba Affiliate

Sesame Credit, heralded as China’s first private sector consumer credit information company, was launched by Ant Financial Services Group, the parent company of Alipay.  Called Sesame Credit, the new agency leverages big-data technology and customer behavior analytics to assess creditworthiness, which is expected to make it easier for companies to extend credit to millions of Chinese consumers, according to Sesame Credit officials. ... Read More »

Alibaba to Launch Mobile Gaming Platform

Alibaba plans to launch a mobile gaming platform which will open a new revenue stream.  Alibaba intends to take a 20 per cent cut of revenue from app sales and in-app purchases with developers taking 70 per cent.  The remaining 10 per cent of revenue will be donated to charity. The platform will store payment options, virtual currencies and game ... Read More »