Payments News

On The Web

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Companies

How Ant Financial Grew Larger Than Goldman Sachs

“Ant Financial’s road to a $150 billion valuation has been a quick one. The company grew out of Alipay, the digital payments system that launched in 2004 and contributed significantly to Alibaba’s ability to succeed in e-commerce. When Alibaba went public in 2014, it officially launched Ant Financial through a spin-off. Today, the company operates […]
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Companies

Ant Financial Shifts Focus Away From Finance To Tech Amid Beijing Crackdown

“Ant Financial Services Group, the dominant Chinese fintech company, is shifting its main focus to technology services and away from payments and consumer finance as Beijing’s crackdown on financial risk deepens, four sources with knowledge of the matter said. The company, which is controlled by the Chinese billionaire Jack Ma, plans to accelerate the shift […]
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Companies

Ant Financial Is Now A Top 10 “Bank” Globally

“It had been rumored for some time now. Ant Financial, the Chinese financial behemoth, was raising a very large funding round that would value the company at $150 billion. It has been reported extensively today that this funding round has in fact closed. Ant Financial has raised $10 billion at a $150 billion valuation.”
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Companies

China’s payments giant is ready to boost financial inclusion in Africa

“In a partnership with the United Nations Economic Commission for Africa (ECA) along with the International Financial Corporation, the firm says it will promote digital financial inclusion in the continent through investments and technical assistance. The offering will target smaller businesses and would look to cater to largely unserved consumers, including displaced people and refugees with no […]
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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.”
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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.”