The firm wants to expand its acceptance in the United States only to accommodate Chinese tourists, a company official said Thursday. But the CEO of a U.S.-based payments firm expressed skepticism.
Timothy Sloan says Federal Reserve sanctions won’t affect the bank’s stress test submission; not everyone believes the mobile-payment system is worth $100 billion.:
The two payments companies failed to win U.S. government approval for their merger; the head of the Senate Finance Committee says he will leave when his term ends.
After a year of trying to appease U.S. regulators, Ant Financial and MoneyGram have terminated their merger agreement, challenging the Chinese company's strategy for global expansion.
The Trump administration must weigh risks to national security in its review of the $1.2 billion deal. Its decision will shed light on whether — given the president’s “America First” rhetoric — Chinese investment is still welcome in the U.S. financial services sector.
