China E-commerce Market to Reach USD 2.52 Trillion by 2030, Driven by Mobile Shopping and Digital PaymentsHareesh3 min read·Just nowJust now--Overview of the China E-commerce MarketThe China e-commerce market size is estimated to be the world’s largest digital commerce arena, valued at USD 1.53 trillion in 2025 and forecast to reach USD 2.52 trillion by 2030, reflecting a CAGR of 10.42%. This growth highlights the increasing adoption of online shopping platforms, enhanced mobile connectivity, and the widesp ...

Checkout.com, a global digital payments provider, announced a new strategic partnership with Uber Technologies, Inc (NYSE: UBER), the world’s digital mobility platform. The collaboration will now reportedly see Checkout.com offer acquiring and gateway services to Uber’s ridesharing and on-demand delivery platforms across markets.Uber selected Checkout.com for its ability to combine international coverage with domestic expertise in a number of key markets.  With its enterprise expertise and digital-first app ...

合作概述 - 花旗集团与加密货币交易所Coinbase计划合作开发数字资产支付解决方案 [1] - 合作初期将专注于服务花旗集团的美国机构客户 [1] - 未来计划将此项服务扩展至全球客户 [1]

Wedgewood Partners, an investment management company, released its third-quarter 2025 investor letter. The letter is available for download here.  AI stocks remain the favorite topic of Wall Street in the third quarter. In the third quarter, Wedgewood Composite’s net return was 5.9% compared to the Standard & Poor’s 8.1%, the Russell 1000 Growth Index’s 10.5%, and the Russell 1000 Value Index’s 5.3% return for the same period. In addition, you can check the fund’s best 5 holdings to know its best picks in 2 ...

文章核心观点 - 文章对比分析了万事达卡和运通两家支付行业巨头的商业模式、财务表现、增长前景和估值 认为万事达卡凭借其轻资产、全球多元化且无信用风险的网络模式 在当前环境下是更具优势的投资选择 [1][7][19][20] 商业模式对比 - 万事达卡作为支付网络 连接消费者、商户和银行 采用轻资产的“收费员”模式 从每笔交易中收取费用但不承担信用风险 [1][7] - 运通采用垂直整合的封闭循环模式 直接发卡并管理商户 承担贷款风险 使其能深度洞察消费行为并建立品牌忠诚度 但也面临更大的周期性风险 [1][3][5] 财务表现 - 万事达卡上季度营收同比增长16.8%至81亿美元 调整后营业利润增长18%至49亿美元 调整后营业利润率达59.9% [8] - 运通上季度净营收同比增长11%至184亿美元 总网络交易量增长9% [4] - 万事达卡的资本回报率为55.5% 远高于运通的11.9% [9][10] 增长驱动力与风险 - 万事达卡的增长得益于跨境交易量增长15% 以及在新兴市场和数字支付技术（如实时支付、人工智能防欺诈）方面的投资 [8][9][11] - 运通的增长由稳定的持卡人消费、循环贷款余额增加和卡费收入推动 在旅游、娱乐和餐饮类别表现强劲 并吸引年轻高消费群体 [4] - 运通的风险包括对高收入美国消费者的依赖带来的经济波动风险 以及信贷损失拨备在2025年前九个月增至38亿美元 其总债务与EBITDA比率为3.38 高于万事达卡的0.92 [5][6] 市场预期与估值 - Zacks共识预期预计万事达卡2025年销售额和每股收益分别同比增长15.2%和11.9% 2026年每股收益预计再增长16.4% [12] - 运通2025年销售额和每股收益预计分别增长8.8%和14.6% 2026年每股收益预计增长14.3% [12] - 万事达卡远期市盈率为30.64倍 高于运通的20.56倍 但其贝塔系数为0.97 低于运通的1.29 显示其波动性更低 [13][15] - 万事达卡当前股价低于平均目标价651.64美元 暗示约15.1%的上涨潜力 而运通股价高于平均目标价338.60美元 暗示约3.1%的下行风险 [16] 股价表现 - 年初至今 万事达卡股价上涨7.6% 运通股价上涨17.8% 同期标普500指数上涨15.6% [17]

公司业务扩张 - 全球支付服务提供商SPAYZio将其支付网络扩展至亚洲、非洲和中东的四个新国家：土耳其、埃及、南非和坦桑尼亚[1] - 公司计划在2025年第四季度将其服务引入阿拉伯联合酋长国和新加坡[2] 各地区市场策略与整合 - 在土耳其，商户可选择使用Havale银行进行收款和付款交易[1] - 在埃及和坦桑尼亚，公司推出了移动货币解决方案以应对日益增长的以移动端为中心的金融服务偏好[2] - 在南非，公司引入了电子资金转账银行汇款能力为本地和国际商户提供可靠支付方式[2] - 在阿联酋商户将能够通过银行转账处理进出款交易这与该地区对数字经济的重视相符[3] - 在新加坡公司将整合PayNow用于收款并利用银行转账进行付款这利用了该国先进的金融体系[3] 公司战略与行业定位 - 公司首席商务官表示其使命是通过不仅快速安全且值得信赖的基础设施来弥合差距特别是在仍以现金驱动、数字化和在线支付潜力尚未完全实现的经济体中[4] - 公司认为当前是一个转折点移动优先生态系统、代理网络和实时银行通道正在融合以重新定义支付行业[4] - 公司将在11月3日至6日于罗马举行的SIGMA活动上展示其支付解决方案和即将推出的服务[4]

合作概述 - 乌克兰电信运营商Kyivstar与美国支付公司Mastercard建立为期一年的战略合作伙伴关系，并包含续约选项 [1][3] - 合作旨在通过技术解决方案加强乌克兰金融基础设施，支持数字支付并扩展金融服务 [1] - 双方将签署具体项目协议，以实现共同的战略目标 [4] 技术合作与创新 - 双方将测试Starlink Direct to Cell卫星技术在支付系统中的应用 [1] - 该卫星直连手机技术旨在为缺乏移动网络覆盖的地区提供连接，促进偏远地区或紧急情况下的金融交易 [2] - 合作将利用大数据和分析技术开发新的金融产品 [2] - 将实施先进的电子商务技术，以确保高安全标准和流畅的客户体验 [4] 合作目标与预期影响 - 合作重点包括创建金融评分解决方案和个性化消费者服务，以改善客户洞察并扩大金融服务覆盖面 [4] - 旨在提升金融服务的韧性和可及性，特别是在服务不足的地区 [2] - 将促进中小企业的无现金支付 [5] - 目标是在当前充满挑战的环境下增强支付基础设施的韧性，并加速数字经济增长 [5] - 与电信市场领导者合作为实施创新金融解决方案和技术开辟了新机遇 [6]

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: The Federal Reserve plans to make the Fedwire Funds Service and the National Settlement Service payments systems available for operations on Sundays and some holidays, but not anytime soon. The central bank expects the expanded days to take effect “in several years,” 2028 at the earliest, according to a press release it issued last week. When the cha ...

Key Points Owning the most dominant tech companies means exposure not only to AI, but other powerful tailwinds. This booming ETF has produced a trailing 10-year total return that exceeds 500%. The future is uncertain, so it’s hard to forecast what this ETF’s performance will be in the next decade. 10 stocks we like better than Invesco QQQ Trust › The biggest bulls say that artificial intelligence (AI) will fundamentally change virtually all aspects of our lives. Other people adopt a more down-to-e ...

Crypto exchange Coinbase and payments giant Mastercard have each held advanced acquisition talks to buy BVNK, a London-based fintech that builds stablecoin payment infrastructure, according to six people familiar with the matter who spoke with Fortune. The discussions have not been finalized, but several of the sources told Fortune that the potential sale price is between $1.5 billion and $2.5 billion. The talks may still fall apart, yet Coinbase appears to be ahead of Mastercard at this stage, three of t ...