The resistance is very low to adopt the money market fund when it was offered to them – high interest deposits with a few clicks – why not? TechNode", "Ant Financial acquires UK payments firm -", "Trump administration to consider adding China's Ant Group to trade blacklist - sources", "U.S. Explores Curbs on Ant Group, Tencent Payment Systems", "Exclusive: Trump administration shelves bid to blacklist China's Ant Group - sources", "Alipay Overtakes PayPal As The Largest Mobile Payments Platform In The World", "Chinese money market fund becomes world's biggest", "Data From Alibaba's E-Commerce Sites Is Now Powering A Credit-Scoring Service", "Pay with your face at this KFC in China", "Ant Financial Group to create one brand across its financial products", "Hoping to Strike Gold Again, Silver Lake Leads Investment in Koubei", "How Ant Financial grew larger than Goldman Sachs", "Alibaba Finance Affiliate Launches Fund Investment Smartphone App", "Millions Rush to Join a Wild New Health Plan From Jack Ma's Ant", "Chinese initiative Ant Forest wins UN Champions of the Earth award", "Alibaba-linked Ant Forest wins top UN green award -", "Megvii, the Chinese startup unicorn known for facial recognition tech, files to go public in Hong Kong", "Chinese AI start-up Megvii raises $750 million ahead of planned HK IPO", "Alibaba-backed facial recognition startup Megvii raises $750 million", "AI unicorn Megvii not behind app used for surveillance in Xinjiang, says human rights group", "Addition of Certain Entities to the Entity List", "李开复"口误"?起底"数据交易"传闻下的旷视科技:卖摄像头才是"主业",蚂蚁是最大股东", "Fintech: AI powers financial services to improve people's lives", "Alibaba's Ant Financial partners with Hutchison to develop its Alipay service in Hong Kong",, Financial services companies established in 2014, Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Articles containing Chinese-language text, Articles containing simplified Chinese-language text, Creative Commons Attribution-ShareAlike License, Zhou Zhifeng (Board Secretary and General Counsel), Angel Zhao (President of International Business Group), Huang Hao (President of Digital Finance Business Group), Geoff Jiang (President of Intelligent Technology Business Group), Douglas Feagin (Senior Vice President of Global Business).
I have only covered the mobile payment, money market fund and micro-lending. It operates Alipay, the world's largest mobile and online payments platform as well as Yu’e Bao, the world's largest money-market fund. I have mentioned in previous occasions that the biggest threat to finance isn’t coming from a fintech company but more likely from a popular mass market product / service company. The Chinese government started tightening the regulations and a state-run television attacked online money market funds like Yu’e Bao. Alibaba was focused on B2B and Taobao was launched to move into the C2C space. Most people would think that Alibaba owns Ant Financial. But Jack just went ahead without consulting the board. Get instant access to all our premium content, archives, newsletters, and online community. Sesame Credit assigns Sesame Scores to users based on creditworthiness, which is based on the following five factors: This is an application of big data in finance and Alibaba being the largest e-commerce company will have more data points than any other banks. Until recently, Ant Financial is most commonly known as the parent of China’s default payment app Alipay, and therefore, a financial service in the eyes of most. We get an unusual interest in it and have received questions about how to subscribe to the IPO. Ant Financial is opening up its technology capabilities to financial service institutions for them to solve problems in financial security, massive financial transactions, and blockchain applications announced Hu Xi, Deputy CTO of Ant Financial and Partner of Alibaba Group, at The Computing Conference. Alipay – a mobile wallet app supports make and accept payments. More by Emma Lee. Mybank has lent ¥2 trillion to 16 million small companies in 4 years.

Merchants in foreign countries have an incentive to accept Alipay as they could attract Chinese tourists to spend at their stores. But it wasn’t easy to get the transactions going because the buyers and sellers were not familiar with this new way of commerce. A believer of the Factor-based Investing approach and runs a Multi-Factor Portfolio that taps on the Value, Size, and Profitability Factors. Alipay co-developed the online payment infrastructure with a bank so that it could get on the banking network. This site, like many others, uses small files called cookies to help us improve and customize your experience.

The shareholders naturally felt unfair especially when Alipay has turned into a success. But Ant has made an impact in insurance too, signing up 100 million users under Xiang Hu Bao 相互保 within the first year of its launch. Ant Financial seems unstoppable and would probably continue to be a trailblazer in the finance industry. Alibaba was partly owned by Softbank and Yahoo when Alipay was operating. Ant Financial has disrupted the financial industry more than anyone else. Alipay was rebranded as Ant Financial Services in 2014 as their financial services went beyond payments. Ant Financial is opening up its technology capabilities to financial service institutions for them to solve problems in financial security, massive financial transactions, and blockchain applications announced Hu Xi, Deputy CTO of Ant Financial and Partner of Alibaba Group, at The Computing Conference. Alipay’s main mobile payment competitor would be WeChat Pay. I have only covered the mobile payment, money market fund and micro-lending. This led to the creation of the first version of Alipay, which was an escrow service. An author of, Personal Finance Masterclass (Online Course). However, the Alibaba affiliate is gradually finding a new position as a technology services company. Yu’e Bao 余额宝 was launched in 2013 as a money market fund and it became wildly popular. The buyer’s funds would be custodised by Alipay and would only be released to the seller after the buyer has received the item. Open technology capabilities are expected to become the core monetization model of Ant Financial, according to the firm. The online payment system was non-existent and many Chinese did not have bank accounts. Ant Financial has flirted with the IPO idea a few times in the past. It also runs Sesame Credit, a third-party credit rating system. It isn’t confirmed yet! After finding success in mobile payment, Alipay found itself in a world of possibilities – technology can do a lot more to improve the state of the financial industry. It did so again recently. Taobao has a massive customer base and the users are comfortable transacting via Alipay. By outsourcing all of its technical capabilities that have been mastered by running Alipay, the company is turning traditional financial service providers from competitive rivals to cooperative clients. It can extend a credit to purchase an item before you check out if you are credit worthy according to Sesame Credit – bypass the need for a credit card. Jack arrived with an agreement with the shareholders in 2011 – if Alipay goes public, Alibaba will be paid at least $2 billion but no more than $6 billion, plus 37.5 per cent of Ant Financial’s pre-tax earnings before the IPO. Latest news and trends about tech in China. We do not have the financials and an IPO price to determine the deal is a reasonable one but we can conduct some qualitative analysis by looking at the history and the business model of Ant Financial. Alipay has moved beyond China and offered its mobile payment to other countries such as Singapore, Japan, South Korea, U.S., Canada, U.K, Italy, Iceland, Norway, Australia and New Zealand. Mybank has lent ¥2 trillion to 16 million small companies in 4 years. Conducts the flagship Intelligent Investor Immersive program under Dr Wealth. Jack Ma knew that the Chinese government will never grant a license to Alipay because of its foreign ownership. They definitely want a piece of it. Alipay 支付宝 held more than 50% market share in China while Tenpay 财付通 (the company powering WeChat Pay) had close to 40% in 3Q2019. Built a business to empower DIY investors to make better investments. The story was that eBay entered China and dominated the C2C e-commerce market after acquiring Eachnet in 2003. But the challenges didn’t stop there. This was crucial in increasing the transactions on Taobao in the early days and beat eBay eventually. Nio, Xpeng, Li Auto: your cheat sheet to China's listed Tesla rivals, UPDATED: Ant Group IPO delay and Jack Ma's ill-timed speech, Binance in trouble, blockchain security standard: Blockheads, Meituan mulls second IPO, Alibaba inks Farfetch deal: Retailheads, Reports of Huobi COO arrest spurs whale transactions as token sinks, VC Roundup | One of China’s most experienced investors talks VC trends, EMERGE 2020 | Young consumers and buzz boost foodtech in China, Trump backs off Ant Group blacklisting: report, UPDATED: Ant Group IPO delay and Jack Ma’s ill-timed speech, Proudly powered by Newspack by Automattic. After opening up its payments services to a wide range of online and offline businesses, Ant Financial announced an “Internet Booster” plan in 2015 to support the digital transformation of traditional financial institutions by sharing Ant Financial’s technological capabilities. We are looking for stories related to tech and China. Started out as Alipay, Ant Financial tries to solve all the basic technical problems since its inception in 2004. You have to understand that most individuals do not qualify for credit with the banks because they lack data needed for proper credit rating. This legitimised Alipay as a payment solution provider and coupled with the technology, it revolutionalised the way people make payments in China – including the enablement of cashless payments in the stores.

Day Trading HSI & DAX Signals, Blog postCase StudiesVideosInterviews#AskDrWealth, CEO of Dr Wealth. The assets dipped and Yu’e Bao lost its throne to two other money market funds – JP Morgan US Government Money Market Fund and Fidelity Government Cash Reserves. Ant Financial is not resting on the laurels even after conquering the markets with mobile payment and the money market fund – it launched Sesame Credit in 2015. Yu’e Bao quickly became the world’s largest money market in 2017, with assets peaking above ¥1.5 trillion in 2018. He also knew that the board will never allow him to spin off Alipay into a separate company in order to get the license. Ant Financial is really a force to be reckoned with and revolutionising finance in so many aspects.

Alibaba has enough transaction records of their customers and could analyse their purchasing behaviour on their platforms.
You might think this just another credit or lending facility. The new announcement marked the company’s effort to speed up the initiative in providing standardized and comprehensive technical solutions to all the financial services. Jack Ma wanted to compete and win. Open technology capabilities are expected to become the core monetization model of Ant … But Ant has made an impact in insurance too, signing up 100 million users under Xiang Hu Bao 相互保 within the first year of its launch. But this arrangement was superseded after Alibaba acquired 33% stake in Ant Financial in 2019.

China has the high adoption of cashless mobile payments and most countries are just playing catch up. Net Net Hunting Newsletter Hence, Alibaba should have some upside when Ant Financial is spun off through an IPO eventually. Learn more about how we use cookies in our cookie policy. As of September 2017, Ant Financial unveiled its facial recognition payment technology through its Alipay services. 3 megatrends to invest in for the next 30 years, Lendlease Global Commercial REIT expects overall retail sector and leasing demand to remain subdued, Frasers Centrepoint Trust’s DPU declined by 26.1%, 7 hottest Fintech companies you can invest in, 56 Singapore companies that are listed in Hong Kong, BigFatPurse Pte Ltd71 Ayer Rajah Crescent #03-06Singapore 139951Tel: 65-9812 0411Email:, Intelligent Investors ImmersiveGrowth Dragons Investing CourseEarly Retirement MasterclassSaaS Hypergrowth Investing8-Figure Trading BlueprintCryptocurrencyAll Course, Growth Dragons Newsletter

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