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Stripe expands to Hong Kong, partners with WeChat and Alipay

Ina Fried, author of Login

Stripe

Digital payments processing company Stripe is expanding into Hong Kong and has struck deals with WeChat Pay and Alipay, which combined account for 92% of digital payments in China.

"Located between Mainland China and the rest of Asia, Hong Kong is a launchpad for thousands of globally-minded Asian entrepreneurs and a gateway to Asia for businesses around the world," Stripe said in a blog post on Sunday.

Why it matters: Founded by brothers Patrick and John Collision, Stripe already powers many digital transactions globally, but entering China gives it access to a large and growing market that is already doing a ton of digital transactions. And partnering with Chinese companies is a key to cracking that market.

Go deeper

Kadia Goba
1 hour ago - Politics & Policy

House passes $1.9 trillion COVID relief package

Photo: Screenshot via C-SPAN

The House approved President Biden's $1.9 trillion COVID relief package on a 219-212 vote early Saturday morning, sending it to the Senate for a possible rewrite before it gets to Biden's desk.

The big picture: The vote was a critical first step for the package, which includes $1,400 cash payments for many Americans, a national vaccination program, ramped-up COVID testing and contact tracing, state and local funding and money to help schools reopen.

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Jacob Knutson
8 hours ago - Health

Biden says it's "not the time to relax" after touring vaccination site

President Biden speaking after visiting a FEMA Covid-19 vaccination facility in Houston on Feb. 26. Photo: Mandel Ngan/AFP via Getty Images

President Biden said Friday that "it's not the time to relax" coronavirus mitigation efforts and warned that the number of cases and hospitalizations could rise again as new variants of the virus emerge.

Why it matters: Biden, who made the remarks after touring a vaccination site in Houston, echoed CDC director Rochelle Walensky, who said earlier on Friday that while the U.S. has seen a recent drop in cases and hospitalizations, "these declines follow the highest peak we have experienced in the pandemic."

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Axios
Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.
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