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Retail Asia18/05/2020

Alibaba-backed Ant Financial grew its client base of mainland Chinese lenders by 175 percent in just two months through April this year, as the nation grappled with the ongoing pandemic. Paying customers from the banking sector grew to over 200 (out of around 4,500 nationwide) during the period which also saw collaboration-related inquiries surge 400 […]

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Retail Asia12/03/2020

Ant Financial Services subsidiary Alipay says it will spend the next three years opening up its online payments platform to support the digital transformation of 40 million service providers across China. “The service sector in China is still in the nascent stages of digital transformation, and that means it has huge untapped potential,” said Ant […]

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Retail Asia30/12/2019

Ant is expected to have significant influence and provide technical expertise to the e-wallet, created locally by a small start-up. Chinese digital finance giant Ant Financial has acquired a «sizeable» stake in Vietnamese e-wallet eMonkey, «Reuters» reported on Thursday. The acquisition, which is below 50 percent, wasn’t publicly reported because of fears over anti-China sentiment in […]

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Retail Asia23/12/2019

Ant Financial and Vanguard establish a joint venture to provide advisory services to China’s onshore retail market. U.S. asset manager Vanguard would provide customized solutions to investors based on their risk profile, time horizon, and investment objectives, according to a report citing a statement, with a minimum investment of 800 yuan ($115) to access the […]

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Retail Asia05/12/2019

Ant Financial is building a roughly $1 billion investment fund to back start-ups across Southeast Asia and India. Alibaba’s financial technology arm is looking to expand its reach across the region using a huge war chest. Plans for the fund are at an early stage. Jack Ma’s financial group is keen to expand outside of China, where […]

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Retail Asia27/11/2019

Jack Ma’s Ant Financial Services may apply for a virtual banking license in Singapore, potentially making a splash in the regional banking landscape. Ant Financial Services is the latest contender to enter the race for a digital banking license. Up to two licenses are on offer for full digital banks, while another three are on […]

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Retail Asia18/02/2019

Alibaba subsidiary Ant Financial says it plans to buy UK-headquartered money-transfer company WorldFirst. And in separate news, the Chinese e-commerce behemoth is in discussions over investing in the Metro China wholesale retail business. The WorldFirst deal will allow Ant Financial to gain market share in Europe’s fintech and payments industries and will give it an […]

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Retail Asia04/06/2018

Ant Financial Services Group (“Ant Financial”) has signed a strategic cooperation agreement with Shanghai Pudong Development Bank Co., Ltd. (“SPD Bank”) to support the bank’s digital transformation with Ant Financial’s technological capabilities. The agreement is the third of its kind announced this month between Ant Financial and established banks, following partnerships with Huaxia Bank and […]

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Retail Asia27/04/2018

The leading mobile financial services provider of Bangladesh, bKash Limited (“bKash”) and Ant Financial Services Group (“Ant Financial”), operator of Alipay, today announced a strategic partnership to promote financial inclusion for the unbanked and underbanked communities in Bangladesh. The partnership involves Ant Financial investing into bKash and increasing its technological capabilities, allowing it to provide […]

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Retail Asia09/02/2018

Apple China will accept Alipay in its stores – the first third-party mobile payment system to be accepted at any Apple store worldwide. This follows lukewarm reception in China for Apple’s own payment system, says Reuters. The IT giant will accept Alipay payments across its 41 brick-and-mortar retail stores in China, says Ant Financial, which […]

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Retail Asia22/01/2018

Alibaba’s Hema supermarket says it will open three stores in the Chinese city of Xian by the end of this year. The offline supermarket’s expansion into the northwestern Chinese city follows an announcement that it will add 30 locations in Beijing by year-end, rapidly expanding its store count in the capital to 35 from the […]

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Retail Asia11/07/2017

Alibaba’s financial arm Ant Financial is looking to create more “cashless” cities across China, with the latest agreement inked with Tianjin municipality in North China. The city-wide “cashless” campaign pushed by the e-commerce giant is the fourth installment to hit China, following similar initiatives in Hangzhou — where Alibaba is based — followed by Wuhan and Fuzhou. As with the […]

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Retail Asia17/03/2017

Alibaba plans to form independent research and development teams to build up core technologies that support its vision of serving 2 billion people in the future. The giant e-commerce and technology company unveiled its grand plan at its inaugural tech summit, “New Technology, New Future”, at its Hangzhou headquarters in China. About 5000 engineers attended, […]

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Retail Asia07/03/2017

Alibaba’s Ant Financial is making its first foray into the Philippines via partnership with Ayala and an investment into Globe Telecom’s Fintech business unit Mynt. The fresh capital infusion will help Mynt achieve its vision of becoming a world-class online and offline payment provider as well as scale up its mobile wallet services and quickly […]

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Retail Asia02/11/2016

Ant Financial Services Group has announced a strategic agreement with Thailand fintech company Ascend Money. Under the agreement Ant Financial will invest in Ascend Money, with the aim of accelerating the growth of a mobile lifestyle and digital financial services platform in Thailand and support the company’s growth in Southeast Asia. Headquartered in Bangkok, Thailand, […]

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Retail Asia01/11/2016

Ant Financial Services Group (“Ant Financial”, or the “Company”), one of the world’s leading digital financial services providers, today announced its global blueprint for promoting digital financial inclusion, and a strategic agreement with Ascend Money, the leading fintech company in Thailand. Under the agreement Ant Financial will invest in Ascend Money, which aims to accelerate […]

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Retail Asia17/10/2016

Yum China, being spun off at the end of this month by Yum Brands Inc, says it can triple its number of restaurants. Yum Brands opened its foray into China with a KFC restaurant in Beijing in 1987. There are now more than 7300 KFC and Pizza Hut outlets. “I really don’t see any reason […]

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Retail Asia04/12/2015

Tech giant Apple will launch its mobile payment system Apple Pay in China by early February, according to a report in the Wall Street Journal. Citing people familiar with the discussions, the newspaper says Apple has reached agreement with China’s four state-run banks to clear the way for the payment system to be used via […]

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Retail Asia03/10/2015

Alibaba’s AliPay has received a major boost in its quest to become a generally accepted payment system in the mainland. McDonald’s China has announced it will accept Alipay in more than 2100 restaurants. The launch will commence in Shanghai this month and spread across all the fast food chain;’s locations in China by March 2016. […]

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Retail Asia29/06/2015

Ecommerce titan Alibaba is forming a RMB 6 billion (US$970 million) three way partnership firm to concentrate on web-connected on-demand providers, resembling meals supply. The JV, referred to as Koubei, is a partnership with its affiliate firm Ant Monetary, which operates the Alipay epayments system integral to Alibaba’s eCommerce websites. Every agency will put in […]

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