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BUSINESS & TECH

Ant Financial Steams Into Uncharted Waters of Global Markets

By Zhang Yuzhe, Qu Yunxu, Wang Qionghui, Huo Kan and Han Wei
Ant Financial Services Group is forging partnerships in Asia, Europe and the U.S. in an ambitious bid to connect its payment service, Alipay, with more customers and merchants globally. Above, a store employee holds a billboard promoting Alipay in Akihabara area of Tokyo on Jan. 29. Photo: Visual China
Ant Financial Services Group is forging partnerships in Asia, Europe and the U.S. in an ambitious bid to connect its payment service, Alipay, with more customers and merchants globally. Above, a store employee holds a billboard promoting Alipay in Akihabara area of Tokyo on Jan. 29. Photo: Visual China

(Beijing) — China’s largest internet financial-services provider, Ant Financial Services Group, is making mighty strides abroad by forging partnerships in Asia, Europe and the U.S. in a bid to connect its payment service, Alipay, with more customers and merchants globally.

Ant Financial, the former finance arm of e-commerce giant Alibaba Group Holding Ltd., last week announced a partnership with U.S. credit-card processing service First Data Corp., which will allow Alipay users to make payments at the 4 million U.S. merchants served by First Data. The deal came while Ant Financial was pushing for another deal to get a foothold in the global payment market via a $1.2 billion bid for U.S. money-transfer specialist MoneyGram International Inc.

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