Ant Financial Services Group
News stories featuring Ant Financial Services Group:
February 21st, 2017
Alipay parent company Ant Financial is to invest US$200m in South Korean mobile finance platform Kakao Pay to “expand its online and offline payment coverage”. Ant Financial has also made its first investment in the Philippines, announcing a strategic partnership to “scale up” mobile operator Globe Telecom’s mobile wallet and digital financial service Mynt.
January 26th, 2017
Alipay parent company Ant Financial has entered into a “definitive agreement” to acquire money transfer services provider MoneyGram for about US$880m. “The transaction will connect MoneyGram’s money transfer network of 2.4bn bank and mobile accounts and 350,000 physical locations with Ant Financial’s users,” Ant Financial says. “The combination will provide consumers in over 200 countries and territories with convenient and accessible financial services.”
January 24th, 2017
Alibaba’s payment affiliate Ant Financial is “definitely” looking into using blockchain to underpin its mobile payments platform Alipay, CEO Eric Jing has told CNBC, adding that artificial intelligence and blockchain will be “deeply” integrated into Ant Financial’s operations. “My vision [is] that we want to serve 2bn people in the next 10 years by using technology, by working together with partners to serve those underserved,” Jing says. Alipay now has more than 450m users.
November 15th, 2016
More than one billion online and offline transactions were made through Alipay at this year’s Singles’ Day Shopping Gala, an increase of 48% from 2015, with the peak number of transactions standing at 120,000 in a single second. Gross merchandise volume (GMV) through the mobile payments platform was US$14.6bn, about 82% of total GMV, compared to 69% last year “Peak transactions enabled with banks around the world were 54,000 transactions per second, two times last year’s peak,” Alipay parent company Ant Financial says.
November 4th, 2016
Alipay parent company Ant Financial is investing an undisclosed sum into Thai online payment provider Ascend Money. “Together with Ant Financial, Ascend Money will grow its online and offline payment and financial services ecosystem and strengthen its trusted and convenient payment services for users and merchants,” Ant Financial says. Reports that Ant Financial was seeking to buy a 20% in Ascend Money emerged in June 2016. The company made a similar investment in Indian mobile payment platform Paytm in September 2015.
October 24th, 2016
Chinese mobile payments giant Alipay is expanding its presence in US and European retail stores via a deal with POS maker Verifone. The move will see the Alipay App available on Verifone e355 mobile point-of-sale terminals so that retailers equipped with the mPOS device can accept mobile payments from Chinese Alipay users. “The goal is to enable our customers to walk into a store while traveling abroad and pay for purchases with the Alipay App — just like they do here in China,” says Douglas Feagin, SVP of Ant Financial Services Group and Head of Alipay International.
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.
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.
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.
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.
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.”
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.
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…
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.
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.”
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.”
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.
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.
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….
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…
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