PayPal has been negotiating incessantly with Chinese regulators for the past four years to obtain a payment license to enter the large market, as The Paper reported on August 10.
In one month, Chinese Starbucks customers will no longer need to wait in line for their cup of coffee as the coffee giant forms new partnership with the Alibaba Group.
Ant Financial Services Group announced today that they have raised approximately $14 billion in the Series C equity financing round, including a RMB tranche raised from Chinese investors by Ant Financial and a USD tranche from international investors by Ant International.
Alibaba’s financial report for the past quarter (January 1 to March 31, 2018), and for the fiscal year of 2018 has just been published by Alibaba Group Holding Limited (NYSE: BABA) today.
On May 3rd, Alipay announced the addition of two new money market funds to Yu’e Bao, the idle funds management platform within the Alipay app with the world’s largest money market fund.
The leading mobile financial services provider of Bangladesh, bKash Limited and Ant Financial Services Group, operator of Alipay, announced a strategic partnership on April 26 to promote financial inclusion for the unbanked and underbanked communities in Bangladesh.
In April, Pandaily went to Ordos, China with Ant Forest and its users, to participate in a green movement involving 300 million people — Ant Forest. Ant Forest is a special feature of Alipay, a payment app and platform under Ant Financial, that was created as a social corporate responsibility (SCR) project.
Ant Financial Services Group announced today that Lucy Peng will be stepping down from her role as Executive Chairman of Ant Financial to focus on her new role.
China has rapidly developed into the world’s long-standing leader in mobile payments. Foreigners visiting China are always surprised by the prevalence of convenient mobile payments. In recent years, Alibaba and Tencent has accelerated their overseas development, especially in Southeast Asia.
Chinese mobile payments have made new moves in going abroad. On March 15, Ant Financial’s Alipay platform entered the markets in Cambodia, Laos, the Philippines and Burma to serve Chinese tourists.