Affiliate of e-commerce giant Alibaba drops $1.2 billion bid after failure to win approval from U.S. national security regulator

New funds would come just a month after $4.5 billion fund-raising for parent of Alipay, which hopes to go global

Operator of Alipay steps up overseas expansion in recent months despite mounting challenges ahead

Chinese company offers $1.2 billion for U.S. electronic remittance firm, beating bid of rival Euronet Worldwide, but could still face regulatory hurdles

Chinese company points out that Euronet derives more than two-thirds of its revenue outside U.S., accuses rival bidder of making ‘phantom’ national security arguments

Financial-services firm says it will add jobs if planned purchase succeeds, will store U.S.-user data in America

Leading private financial firm caught off guard by new, higher offer from U.S.-based Euronet, which argues it has better chance of avoiding political sensitivities