Alipay parent Ant Financial is planning to raise up to 20bn yuan (US$3.1bn) in its current funding round at a valuation of more than $50bn, according to The Wall Street Journal. “The fresh funding will give the operator of popular Chinese online payments platform Alipay more financial muscle as it buys stakes in businesses ranging from a Chinese lottery company to China’s Postal Savings Bank,” the publication says. “It also sets the stage for Ant Financial’s future initial public offering — bankers expect it as early as 2017.”
- Apple Pay arriving in Germany?
- Chicago mobile ticket app hits 1m downloads
- Dubai bus passengers to get hands-free smart ticketing
- Visa works on blockchain B2B payment system
- Pizza Hut offers NFC tattoos that let customers order favourite takeaway