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Archive · June 29, 2026

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Story 01

Tencent Targets International Travelers With TenPayGo Mobile App Rollout in China

Tencent is piloting TenPayGo, a mobile payment app for overseas visitors to China, enabling payments at millions of domestic merchants. By launching TenPayGo, Tencent directly challenges Alipay’s dominance in cross-border acceptance and aims to boost digital wallet adoption among international travelers. Chinese merchants gain access to new customer segments, while regulators may increase scrutiny of cross-border data and compliance. Alipay may respond with new features or partnerships as inbound tourism rebounds.

Source: PYMNTS
Also Worth Knowing
№02

Canadian Fintech Float Secures C$85M to Expand Product Suite and Market Reach

Float Financial raised C$85 million in Series C funding led by Inovia Capital, with Goldman Sachs joining the round. The new capital allows Float to launch additional products and intensify competition among Canadian fintechs focused on business payments and expense management. Incumbent banks and legacy card issuers now face a challenger with deeper resources, as Float moves quickly to broaden its offering and enter adjacent financial services.

Source: Finextra
№03

N26 Achieves Profitability After Leadership Overhaul, Raising Bar for Neobank Rivals

N26 has reached profitability following a leadership shakeup, marking a rare milestone among European neobanks. This achievement strengthens N26’s position as investors increasingly demand sustainable business models in fintech. Rivals such as Monzo and Revolut may face heightened scrutiny over their own paths to profitability, while N26 can now pursue expansion or new product lines without relying on external funding.

Source: Sifted
№04

Kiwoom Securities Buys Into Bithumb as Korean Institutions Deepen Crypto Bets

Kiwoom Securities plans to acquire a stake in Bithumb, one of South Korea’s largest crypto exchanges, as local institutions ramp up investment in digital asset platforms. This signals growing mainstream acceptance of crypto trading among regulated financial firms in Korea. Competing brokerages may pursue similar deals or partnerships to maintain relevance in the evolving digital asset landscape, while regulatory clarity remains crucial as institutional capital flows into local exchanges.

Source: The Block
№05

Anthropic Restores Mythos 5 AI Model Access After US Security Review

Anthropic received US government approval to restore access to its Mythos 5 AI model, following a review over national security concerns. This decision sets a precedent for AI vendors navigating regulatory scrutiny while serving enterprise and public sector clients. Financial institutions and fintechs relying on advanced AI models regain access but must closely monitor evolving compliance requirements, as the intersection of AI innovation and government oversight deepens.

Source: PYMNTS
The Long Memory
“Despite China’s dominance in mobile payments, over 70% of inbound tourists to China still rely on cash or cards due to digital wallet access barriers.

Filed under: Payments History · The Long Memory

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