Tag: Alibaba
Alibaba-backed Paytm forays into digital gold
Consumers can buy and sell gold using their Paytm account for as low as $0.02 which will then be stored in lockers. Read more: e27.co
SoftBank plans $1.5bn investment in India’s Paytm
Japanese investment giant SoftBank plans to invest as much as $1.5bn into Indian payments firm Paytm. The investment will see Paytm valued at as much as $9m. Read more: www.fintechroundup.com
Alibaba to allow financial institutions to set up shop
Ant Financial's investing app Ant Fortune unveiled Caifu Hao earlier this week. Read more: e27.co
Alibaba buys Paytm stake from Reliance Capital
Reliance Capital has sold its stake in One97 for US$42m to Alibaba. Read more: www.techinasia.com
Jack Ma’s playbook for Ant Financial’s global expansion
Valued at an estimated $60bnn ahead of a possible IPO this year, Ant Financial is now on a streak of overseas deals. Read more: www.techinasia.com
Ant Financial expands reach with $200m investment in Kakao Pay
Ant Financial continues to expand its reach outside of China with a $200m investment in South Korean mobile giant Kakao’s finance subsidiary Kakao Pay. Read more: www.fintechroundup.com
How Chinese mobile payments are quietly conquering the world
The mobile payment space has become fiercely competitive, Alibaba and messaging giant WeChat scrambling for valuable market share. Read more: e27.co
Ant Financial buys US remittance firm MoneyGram for $880m
Chinese FinTech giant Ant Financial is acquiring US money transfer service MoneyGram in an $880m deal. Read more: www.fintechroundup.com
China’s Alipay just saw one billion transactions in a day
The Singles Day shopping spree on November 11 saw 1.05 billion transactions go through the app, up 48 percent on the same day last year. Read more: www.fintechranking.com
Jack Ma’s finance business worth $75bn
Alipay got its start in 2004 as a way for the customers of Alibaba Group Holding Ltd. to more easily buy goods online. Now the parent company is worth $75bn. Read more: www.bloomberg.com