Is Ant Financial hitching its global expansion to an antiquated payments wagon that is being undermined by a wide range of remittance startups? That appears to be case for Ant’s proposed $880 million acquisition of 72-year-old MoneyGram, which was announced today. Ant Financial is the financial service spin-off from Chinese e-commerce giantRead More
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Alipay’s domination in the mobile payments world is reaching new heights — 30,000 feet, to be exact. Finnish airline Finnair today announced its decision to offer mobile payment service Alipay on flights between Helsinki and Shanghai. Alipay is one of the most popular digital payment methods in its home country of China,Read More
Here there be dragons, and they’ve started to rule over unicorns—well, in matters of funding, anyway. According to a new report released by Citigroup on digital disruption, the second of its kind, China has now overtaken the U.S. to claim the No. 1 spot for investments in fintech on a global scale.Read More
Aim big, they say. Ant Financial did just that. The Alibaba affiliate that operates the digital payments platform Alipay, Ant Financial said this week it will sign up 2 billion users in 10 years for the pipeline of its fintech businesses. Those include digital payments, wealth management, financing, insurance, andRead More