Ant Financial Steams Into Uncharted Waters of Global Markets
(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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