Asia’s Fintech Race: Trends, Regulations, Lessons For The West
While on the global scale fintech is growing rather rapidly, the industry is absolutely booming in Asia, and particularly in China.
Asian fintech companies continue their growth and overseas expansion. The Chinese fintech firm Ant Financials’ payment arm Alipay has recently started partnering with Finnish mobile payment provider ePassi to launch mobile payments for shopping and services on Finnair’s flights, therefore, marking a significant milestone in the development of mobile payment services in air.
Alexander Yin, chief financial officer of TCG, the parent company of the Finnish mobile payment provider ePassi, said:
"In the fintech and mobile Internet sectors, China is a global leader thanks to