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    Ant Financial Services Group

    News stories featuring Ant Financial Services Group:

    Ant Financial readying VR payments

    October 13th, 2016

    Alibaba affiliate and Alipay parent company Ant Financial is readying a virtual reality (VR) payment experience that will allow shoppers to pay with a nod of the head. “People using virtual reality goggles to browse virtual reality shopping malls will be able to pay for purchases without taking off the goggles,” Reuters reports. “User identity can be verified on VR Pay via account logins on connected devices or via voice print technology.” VR Pay is expected to be ready for commercial launch by the end of the year. Reports that Alibaba was exploring VR mobile payments emerged in August 2016.

    Ant Financial acquires EyeVerify

    September 14th, 2016

    Alipay parent company Ant Financial has acquired biometric provider EyeVerify. “Earlier this year, Ant Financial and EyeVerify entered into a licensing agreement in which Eyeprint ID was integrated into Ant Financial’s payment authentication platform,” Ant Financial says. The acquisition will allow the company’s Eyeprint ID technology to be integrated into more Ant Financial products and “secure hundreds of millions of consumers’ online data and transactions”. Eyeprint ID works by capturing an image of an eye and matching the unique vein pattern to verify identity. The acquisition cost $100m, Fortune reports.

    IHG to accept Alipay in hotels worldwide

    August 25th, 2016

    Chinese tourists visiting hotels belonging to InterContinental Hotels Group (IHG) will be able to settle their bill using Alipay in locations across the globe from 2017. “The new partnership, which has been agreed by Alipay’s parent company Ant Financial, will initially apply to IHG’s existing estate of more than 270 hotels in Greater China, as well as a number of hotels around the world that participate in IHG’s China Ready Programme,” Ant Financial says.

    Alibaba unveils connected car with Alipay mobile payments

    July 19th, 2016

    Chinese internet giant Alibaba has unveiled a new “internet car” that will let drivers make mobile payments from their seat using affiliate company Ant Financial’s Alipay mobile payment platform. More

    Alipay parent company seeks expansion overseas

    June 20th, 2016

    Alipay parent company Ant Financial is seeking to buy a 20% stake in Thai online payment provider Ascend Money and to increase its stake to 30% at a later date. “Ascend’s subsidiaries include True Money, an online payment service provider, and Ascend Nano, a licensed financial services provider,” Reuters reports. “Ant Financial, whose Alipay payment platform dominates the online payments industry in China, is looking to expand its presence overseas.”

    Ant Financial takes Alipay to Germany with Concardis

    June 3rd, 2016

    Chinese tourists will soon be able to make payments at 210,000 store locations in Germany serviced by payment provider Concardis using Ant Financial’s Alipay mobile payment platform. The move marks the service’s launch into Europe after the company unveiled its expansion plans at Money20/20 Europe in April 2016. More

    Alipay users in China can now make payments through Samsung Pay

    May 20th, 2016

    Alipay users across China will now be able to make in store payments by scanning QR codes through the mobile payment platform using Samsung Pay, as a result of a partnership between Samsung and Alipay… More

    Orix to push Alipay in Japan

    April 12th, 2016

    Financial services provider Orix is to promote Ant Financial’s Alipay mobile payment platform in Japan and encourage more stores to accept the service. “The Japanese group will offer leasing of the terminals, which can cost up to 300,000 yen (US$2,685) or so to buy, to reduce adopters’ upfront expenses,” Nikkei reports. “Orix will market Alipay mainly to retailers popular with Chinese tourists.” The report comes as Alipay announced its expansion into Europe last week.

    Ant Financial seeks US$3bn in funding

    March 8th, 2016

    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.”

    Uber China adds cross-border Alipay support

    February 1st, 2016

    Chinese consumers using taxi hailing app Uber will soon be able to pay for their journeys using Ant Financial’s mobile payment platform Alipay when travelling abroad. “The partnership will enable riders from mainland China to use their Alipay accounts to pay for Uber rides when they’re travelling in other regions,” Uber China says. “Uber riders have been able to use Alipay to pay for their rides in mainland China since 2014.”

    Alipay parent seeks $1.5bn investment

    January 7th, 2016

    Alibaba affiliate Ant Financial, owner of mobile payment platform Alipay, is seeking an investment of at least 10bn yuan (US$1.5bn) ahead of a planned initial public offering, Bloomberg reports. “Ant Financial may use money from the current fundraising for acquisitions,” the publication says. Ant Financial made a strategic investment in Indian mobile payment platform Paytm in September 2015 after closing a Series A financing round that valued Ant Financial at more than US$45bn.

    India’s Paytm moves into banking

    November 12th, 2015

    Indian mobile wallet provider Paytm is to hire 3,000 people to roll out its payments bank services by the first quarter of next year. “The structure of the executive committee for the payments bank is being given shape, while Paytm awaits a final nod from the Reserve Bank of India,” The Times of India reports. The company agreed a “strategic investment” from Alibaba and its affiliate Ant Financial in September.

    Alibaba and Ant Financial make “strategic investment” in India’s Paytm

    September 29th, 2015

    Chinese e-commerce giant Alibaba and its affiliate Ant Financial are to make a “strategic investment” believed to be worth some US$680m in Indian mobile payment platform Paytm through an agreement with its parent company One97 Communications…. More

    China’s FiiSmart to develop smartwatch that supports Alipay

    September 28th, 2015

    Shenzhen-based wearable device maker FiiSmart has launched a campaign on ecommerce giant Alibaba’s Taobao Crowdfunding website for a smartwatch that will support Ant Financial’s mobile payment platform Alipay and allow its wearers to make payments… More

    McDonald’s to accept Alipay in more than 2,100 restaurants in China

    September 24th, 2015

    Chinese customers of fast food chain McDonald’s will soon be able to use Ant Financial’s Alipay QR code mobile payment platform to pay for their food and drink in more than 2,100 restaurants. The roll-out… More

    Marriott Hotels to accept Alipay

    September 9th, 2015

    Visitors to hotel chain Marriott International will soon be able to pay for their hotel stays, food and drink purchases as well as for meeting and event bookings using Ant Financial’s Alipay QR-code mobile payment platform. “Marriott International will initially activate Alipay at 10 hotels in greater China, gradually expanding to other hotels in China and across Asia by mid-2016,” the chain says.

    Alipay 9 launches with support for Koubei merchant payments and P2P transfers

    July 8th, 2015

    Ant Financial has released a new version of its Alipay app for iOS and Android, adding new Friends and Merchants tabs that provide support for peer-to-peer payments and for Koubei, the US$1bn mobile commerce joint venture between Ant Financial and Alibaba that was announced last month. More

    Ant Financial valued at US$45bn

    July 3rd, 2015

    Chinese e-commerce giant Ant Financial has completed a Series A financing round that values the company at more than US$45bn and makes the Chinese government a stakeholder, New York Times reports. The parent company of mobile payments firm Alipay saw its number of annual active users surpass 400m this year, of which 80% are active mobile users.

    KFC China restaurants to accept Alipay mobile payments next month

    June 30th, 2015

    Nearly 5,000 KFC China fast food restaurants will accept Alipay mobile payments next month, following in the footsteps of Walmart which is rolling out support for the service in all of its Chinese stores by the… More

    Alibaba and Ant Financial invest nearly $1bn in Koubei mobile commerce platform

    June 24th, 2015

    Chinese e-commerce giant Alibaba and Alipay parent Ant Financial have each invested RMB3bn (US$483m) into Koubei, a joint venture that will let consumers order and pay for local services in China using their smartphone, “with an… More

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