Payments News

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Companies

Ant Group Set to Raise $34 Billion in World’s Biggest I.P.O.

“Ant Group, the Chinese financial technology titan, is set to raise around $34 billion when its shares begin trading in Hong Kong and Shanghai in the coming weeks, which would make its initial public offering the largest on record. The company, the parent of the Alipay mobile payment service, priced its shares around $10.30 apiece, […]
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Companies

Jack Ma’s Fintech Giant Ant to Drop ‘Financial’ From Its Name

“China’s largest financial-technology company is rebranding itself to emphasize the tech rather than the finance, after earlier drawing scrutiny from regulators. Ant Financial Services Group, an affiliate of e-commerce giant Alibaba Group Holding Ltd., said it received approval from China’s top business and commerce regulator to change its name to Ant Technology Group Co. in […]
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Companies

China’s $7.6 Trillion Online Payments Market Is No Longer Enough For Jack Ma’s Ant Financial

“Jack Ma’s Ant Financial grew to become one of China’s largest fintech platforms by providing e-wallet services and online investments to hundreds of millions of consumers. But amid mounting regulatory pressure, Ant has sights on a new market. Ant’s president of advanced technology business group, Geoff Jiang, told FORBES ASIA in an interview that the […]
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Companies

Is Ant Financial Still Worth $150 Billion?

“However, a lot has changed since then. The China-US trade war has escalated and tariffs worth more than $600 billion have been slapped on goods. In China, tech startups have seen fundraising dry up , while investors outside of Asia have also turned bearish after dramatic declines in the valuations of some leading technology players […]
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Companies

Ant Financial’s Alipay Strikes Payments Deal With Soccer Body UEFA As It Looks For Global Boost

“Alipay, the payments app operated by Alibaba affiliate Ant Financial, has struck a partnership with European soccer governing body UEFA, the two firms announced Friday. The eight-year deal will see Alipay accepted at venues where UEFA-sanctioned men’s national team events are taking place, including the Euro 2020 and Euro 2024 soccer championships.”

On The Wires

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Companies

Ant Financial Launches Distributed Core Banking Platform With Hoperun Information Technology

“Ant Financial Services Group (Ant Financial) and Jiangsu-based Hoperun Information Technology (Hoperun) today unveiled its Distributed Core Banking Platform (DCBP), a next generation banking product which is designed to help financial institutions shift their business models from transaction-oriented to customer-oriented. The platform also aims to help financial institutions tackle digital challenges, including distributed development, financial […]
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Companies

Ant Financial Launches Ant Financial Technology Brand with Full Suite of Technology Products and Services to Support Growth of Financial Institutions

“Under the new brand, Ant Financial’s technology products and services consist of five product portfolios, namely large-scale financial transaction technologies, financial security technologies, financial intelligence technologies, next-generation interaction technologies and blockchain applications.”