Global Payments《2026 年商业与支付趋势报告》指出，AI 赋能、场景融合与技术革新成为驱动行业变革的核心力量，六大趋势重塑商业支付生态，企业需 精准把握机遇以应对效率提升与风险防控的双重需求。 核心趋势一：AI 代理 commerce 崛起 AI 购物代理成为新增长点，87% 的企业对其有所了解，零售行业熟悉度最高（25%）。消费者可通过 AI 代理完成搜索、比价、下单全流程，预计能减少 66% 的电商购物车遗弃率，为全球电商带来 2400 亿美元新增收入。OpenAI、沃尔玛、亚马逊等企业已推出相关功能，通过 Agent Payments Protocol 实现安 全支付。但安全欺诈、纠纷解决与算法偏见仍是主要顾虑，42% 的企业对此表示担忧，目前仅 11% 的消费者允许 AI 代理完成支付。 核心趋势二：POS 革命全面展开 移动 POS 与云端系统成为主流，85% 的美国中型零售商依赖移动 POS 解决方案。现代 POS 系统整合实时数据分析（57% 企业优先选择）、库存管理、 CRM 等功能，支持动态定价与个性化服务。生物识别技术广泛应用，指纹、声纹支付提升效率与安全性，部分餐厅通过 ...

Trade and Economic Data - In the first 11 months of this year, China's total goods trade value reached 41.21 trillion yuan, reflecting a year-on-year growth of 3.6% [1] - Exports amounted to 24.46 trillion yuan, increasing by 6.2%, while imports were 16.75 trillion yuan, showing a slight growth of 0.2% [1] - Trade with countries involved in the Belt and Road Initiative reached 21.33 trillion yuan, marking a 6% increase and accounting for 51.8% of China's total foreign trade [1] - Private enterprises in China recorded a total import and export value of 23.52 trillion yuan, which is a year-on-year increase of 7.1% [1] AIDC Energy Storage Market - The global AIDC (Artificial Intelligence Data Center) energy storage market is expected to experience explosive growth, with lithium battery shipments projected to exceed 300 GWh by 2030, which is 20 times the 15 GWh expected in 2025 [2] E-commerce and Taxation - Japan's government proposed a tax reform that requires e-commerce platforms with annual sales exceeding 5 billion yen to collect consumption tax on behalf of cross-border sellers, effective from 2026 [3] Mobile Gaming Revenue - In November, 33 Chinese companies ranked among the top 100 global mobile game publishers, collectively generating revenue of 19.5 billion USD, which accounts for 35.8% of the total revenue of the top 100 publishers [4] Cross-border E-commerce Developments - The well-known video blogger team "Yingshi Pifeng" has joined Alibaba's international platform, utilizing AI to expand overseas markets and has received cooperation intentions from over 30 countries [5] - The cross-border marketing service provider Miduo Duo has submitted its prospectus for a mainboard listing on the Hong Kong Stock Exchange, showing steady revenue growth from 65.17 million USD in 2022 to 71.13 million USD in 2024 [6] - Amazon is reportedly considering ending its long-term contract with the USPS, which has generated over 6 billion USD in annual revenue for USPS [7] Financing and Growth - AirCloud has completed a Series G financing round, raising 330 million USD, with a valuation of 8 billion USD, marking a nearly 30% increase from its previous funding round [8] - JD Logistics reported a doubling of order volume from its global overseas warehouses during the Black Friday sales event [10] - TEMU signed a memorandum of understanding with bpost to enhance cross-border e-commerce supply chain capabilities [11] - FundPark announced a partnership with HSBC Express Finance to provide embedded financial services to local sellers in Hong Kong [12] Performance of Chinese Goods in Russia - Russian e-commerce platform OZON reported a fivefold increase in order volume for Chinese goods during the Black Friday sales, indicating a growing demand and market penetration for Chinese products in Russia [13]

Core Insights - The company reported its Q2 2025 financial results, showing significant growth in user base and loan facilitation [2] - The company has deepened its embedded finance strategy, enhancing user experience across various sectors [2] User Metrics - The platform serves a total of 165 financial institutions, with registered users reaching 276 million, representing a year-on-year growth of 11.4% [2] - The cumulative number of credit users increased to 60.2 million, up 12.3% year-on-year, while borrowing users reached 36.8 million, reflecting a 14.9% increase [2] - In Q2, the company added 1.79 million new credit users, a 40% year-on-year increase, and 1.23 million new borrowing users, approximately 60% higher than the previous year [2] Loan Facilitation - The platform facilitated loans totaling 84.6 billion yuan in Q2, marking a 16% year-on-year increase, with outstanding loans at 140.1 billion yuan [2] - Over half of the new credit users came from embedded finance channels, which saw a year-on-year growth of 103% in new credit users and approximately 155% growth in loan volume [2] Financial Performance - The company's revenue for Q2 reached 5.2 billion yuan, reflecting an 11.2% quarter-on-quarter increase and a 25.4% year-on-year increase [2] - The non-GAAP net profit for the quarter was reported at 1.85 billion yuan [2]

Core Insights - KUN, a leading global stablecoin payment and embedded financial services platform in Asia, announced the completion of its Series A funding round, significantly oversubscribed, with total funding exceeding $50 million since its inception 20 months ago [1][5] - The funding signifies KUN's ongoing breakthroughs in building a global stablecoin cross-border payment network and financial infrastructure, aiming to assist real enterprises in achieving efficient, secure, and compliant globalization [1][4] - KUN has experienced rapid growth, with an average monthly transaction growth rate exceeding 200% over the past 12 months, serving thousands of enterprise and institutional clients [1][4] Company Developments - KUN has established strategic partnerships, including a memorandum of understanding with TradeGo to develop a comprehensive trading service solution for bulk trade, focusing on blockchain electronic bill of lading technology and stablecoin settlement networks [1][3] - The company plans to leverage the recent funding to enhance technology development, particularly in cross-border transaction security, blockchain infrastructure, and compliance capabilities [4][5] - KUN aims to build a one-stop digital payment network that integrates Web2 and Web3 technologies, while expanding its global team and strengthening its core talent [4][5] Industry Trends - The collaboration with Eternium Global aims to create a diversified Web3 payment system, targeting high-growth markets in Latin America, the Middle East, and Africa [3] - There is a growing consensus on the potential of stablecoins to replace traditional systems like SWIFT in cross-border payments, with KUN positioned as a leader in this transition [3][4] - The integration of stablecoins in cross-border transactions is seen as a key infrastructure for the globalization of enterprises, particularly in emerging economies [4]

Core Insights - A significant cross-border collaboration has emerged in Southeast Asia, with OCBC Bank partnering with Ant Group to launch embedded financial services for SMEs in Indonesia, marking Ant Group's first deep collaboration with the Indonesian banking system [1][3] - This partnership represents a new model of "technology integration + scenario embedding" for Chinese tech firms in global southern markets, while also validating Singapore's role as a financial hub serving ASEAN [1][4] Group 1: Embedded Finance - Embedded finance emphasizes seamless integration of credit, payment, and insurance services into users' daily operations, reducing barriers and enhancing efficiency, contrasting with traditional financial services that rely on physical branches and static credit models [3] - Ant Group's expertise in AI-driven data modeling and dynamic risk control enables it to create accurate profiles of small and micro-businesses that traditional credit systems often overlook, addressing the substantial informal financial needs in Indonesia [3][4] Group 2: Market Context - Indonesia is the largest economy in Southeast Asia and the sixth-largest e-commerce market globally, with e-commerce transaction volume projected to surge from $58.4 billion to $95.8 billion over the next five years, driven by millions of micro-entrepreneurs relying on platforms like Shopee and Tokopedia [3] - The collaboration targets a vast market of small businesses that have been marginalized by traditional banking due to a lack of collateral and financial records [3][4] Group 3: Strategic Implications - OCBC's transformation into a regional, technology-driven financial services group has seen success in Singapore and Malaysia, with nearly $200 million in loans issued to small businesses in the e-commerce ecosystem since 2023 [4] - The partnership is characterized by a "dual-track collaboration" where OCBC integrates Ant Group's data capabilities and AI risk management with its local credit channels and customer networks in Indonesia [4][6] Group 4: Future Outlook - This collaboration may serve as a template for reshaping banking functions across Southeast Asia, addressing structural challenges in SME financing and regulatory environments in countries like the Philippines, Vietnam, and Malaysia [8] - The evolving narrative of financial globalization is shifting from mere capital cross-border flows to deep integration around "digital financial ecosystem governance," with the potential for a replicable and scalable digital credit model emerging from this partnership [8]