Palm-scanning is the future of digital payments

An interview with WeBank’s CFO

Leveraging Tencent's massive WeChat network, WeBank started as China's first digital bank and now serves 340 million users and 2.8 million businesses (as of 2024). Chief Financial Officer Arthur Wang discusses how the company is using AI and continuous innovation to stay ahead of the technological curve.

China is making a deliberate push toward a cashless society

Riding widespread digital finance apps like Alipay and WeBank, physical cash circulating in China fell under 4% of total money in 2023. The trend reflects the country's drive to be a leader in the future of digital payments.

'Red envelope' payments spurred WeChat's financial services growth

What started as a messaging platform morphed into much more with the advent of so-called red envelope payments, where friends, colleagues, and acquaintances recreate an age-old Chinese custom with the tap of a finger. The viral custom helped WeChat expand its digital payment services, effectively becoming a “superapp.”

Tencent—one of China's earliest tech giants

While not as well-known as Temu or Shein, Tencent began as an early internet messaging platform. Over three decades, it expanded to digital payments, video games, and more, becoming the first-ever Chinese company to surpass $500B in value.

Apple Pay is activated on more than 78% of US iPhones

As a result, some banks worry they could be losing ground to the tech company. As consumers continue to use Apple Pay instead of pulling out their physical debit card to pay for everyday items, some banks are fighting back in the digital wallet war.

Worldcoin: the cryptocurrency collecting biometric data

An ambitious project launched by OpenAI's founder Sam Altman, Worldcoin aims to provide a global financial and identity network based on proof of personhood through biometric scanning of individuals' irises.

Digital passports allow identity verification to be digitized

By scanning the security chip on the back of passports and capturing images or video of a person, apps like Google Wallet and Apple Wallet create a digital version of the document. Some states have also developed their own apps for digital driver's licenses.

Fintech could help democratize access to banking

More than 1.3 billion adults worldwide do not have access to basic banking services as of this writing—but some experts believe that the fintech industry can help with that by targeting groups of people who have historically been underserved by traditional banks.

Explore a visual timeline of fintech’s history and growth

From the debut of the world’s first ATM in 1967, to Apple Pay launching in 2014, financial technologies have come a very long way in a relatively short historical period. A colorful visual timeline highlights some of the most important milestones along the way.

Peter Thiel and Elon Musk formed PayPal after merging two dot-com companies

Elon Musk cofounded "X.com," an online banking service, in 1999 with the idea that the web would become a financial repository as internet access expanded and became ingrained in daily life. Peter Thiel cofounded "Confinity" as a digital security service that morphed into a payments system. In 2000, the two merged to form PayPal, and in 2002, they sold PayPal to eBay for $1.5B.

The main bank serving Silicon Valley startups and venture capitalists collapsed in 2023

Silicon Valley Bank—the 16th largest bank in the US—served many tech startups in the area as well as many venture capitalists. The bank collapsed in 2023—in a single day, bankers took out $42B.

Some argue that advance payday apps aren't markedly different from payday loans

Some apps, like EarnIn, allow users to get money from their paycheck in advance. These apps access users' banking information, allowing the company to immediately take back any borrowed money and track users' financial situations to evaluate their risk. Unlike traditional payday lenders, these apps often waive the right to sue users who don't pay back the initial principal and don't charge interest, but rather ask users for a tip. (Some users may experience a paywall.)

How the checking account has evolved into a platform of features rather than a product

The accounts act as an anchor for customer relationships that banks need to retain said customers. As fintech companies unbundle the checking account without technically being chartered banks, traditional banks face pressure to innovate the checking account experience.

SoftBank acquired a majority stake in WeWork in October 2019

SoftBank is widely considered the biggest victim in the WeWork story, losing billions of dollars that it invested in the company while WeWork’s CEO walked away a billionaire himself.

Bank of America helped establish Visa as a global credit card network business after it rolled out its first credit cards.

At the time, those credit cards were called "BankAmericards." Today, Bank of America owns less than a 2% share of Visa—many other banks (as well as institutional investors) help govern and profit from the network.

eCash paved the way for today’s popular crypto investments

Bitcoin is typically cited as the first decentralized cryptocurrency. But some argue that back in the 1990s, eCash was technically the first cryptocurrency, although it wasn't decentralized.

BNPL has 19th-century roots, but the pandemic made it mainstream

The modern BNPL model didn't take off until the COVID-19 pandemic, when consumers were stuck at home and lockdowns forced them to shop online rather than in person. The number of US BNPL loans grew more than tenfold from 2019 (16.8 million) to 2021 (180 million), according to a Consumer Financial Protection Bureau report.

BankFind is a tool that helps you find current and former FDIC-insured banking institutions

The tool from the Federal Deposit Insurance Corporation (also known as the FDIC) allows users to search for these institutions by name, location, and more.

The BRICS development bank was created as an alternative to Western-led institutions

Brazil, Russia, India, China, and South Africa founded the New Development Bank in 2015, clearly positioning it as a counterbalance to the World Bank and IMF—and a way for middle powers to influence global economic governance.

BYD Auto is the largest EV maker in China, overtaking Tesla

As of 2023, the company has 40% of the electric vehicle market in China and produces more than 3 million EVs for customers worldwide. Its vertical integration, which includes building its own batteries and cargo ships, has allowed BYD to lower retail costs.

DeepSeek is a Chinese AI startup that rattled US competitors when it made an AI model much faster and cheaper than they did

DeepSeek unveiled an AI model in 2025 that it said was made in two months for roughly $6M. For context, OpenAI has suggested it took over $100M to make its AI model GPT-4. The news rattled the stocks of American tech companies, including leading chipmaker Nvidia.

Audio deepfakes have fooled voice biometrics at banks

Limitations in facial and body movements as well as mismatches between audio and lip movements can sometimes help flag a video as a deepfake, but removal of the video component significantly improves AI mimicry.

Contactless credit cards descend from a batteryless Cold War listening device

The same physics that let Soviet spies eavesdrop on the US ambassador in 1945 underlie contactless payment methods today. The device is a passive chip powered wirelessly by incoming radio waves.

Brain-computer interfaces create a direct link between the brain and external devices

The technology enables users to control prosthetics, computers, or even games using only their thoughts. In 2021, a monkey played table tennis using only its brain, thanks to a Neuralink device, marking a major milestone before human trials began in 2024.

Credit monitoring services may oversell the benefits of dark web monitoring

Currently, technology exists to scrape and download data from webpages, which can then be analyzed to identify a user's information. However, scrapers cannot access or remove personal data from dark websites because they are often protected by paywalls, rendering monitoring ineffective beyond reporting publicly available data breaches.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

This site reaches millions of visitors who are tired of AI chatbots and seeking human connection. Pretend to be an AI chatbot and ask questions, provide answers, and draw for people in real time.

After 25 people used virtual reality headsets to practice flying with virtual wings—flapping their arms—their visual cortex responded to the wings almost as if they were real arms, treating them as body parts.

NBA superstar Victor Wembanyama spent the 2025 summer training with monks in central China to enhance his body and mind.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

The first line of 'immortal' human cells, which can divide indefinitely and are used in scientific research, was nonconsensually taken from a Black woman.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Brandi Chastain, the star of the 1999 US victory over China in the 1999 Women's World Cup, was a last-second choice to take the penalty kick that sealed the victory.

The first robot in literature may have been a 'mechanical man' in 1907's 'Ozma of Oz,' a book in L Frank Baum's 'Wizard of Oz' series.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

The first image of a black hole was captured by creating an Earth-sized virtual observatory from a network of eight radio telescopes.

Marburg virus, related to Ebola, is also extremely deadly, and has no available vaccine.

Artificial coral reefs have been 3D printed from nontoxic, biodegradable terracotta clay, which coral polyps have used as a foundation for rebuilding marine ecosystems.