Jack Ma’s Alibaba and Ant Financial leave Paytm Mall
The Indian firm’s valuation fell from $3 billion in 2020 to $13 million now – a drop of almost 99%.
Ant Financial
China’s central bank issues Ant Group ultimatum after blocked IPO
The Peoples’ Bank of China wants Ant to overhaul its business or face the consequences.
Chinese regulator approves Hong Kong leg of Ant’s $30bn IPO
The company still needs approval from the Hong Kong stock exchange’s listing committee.
Alibaba’s Ant plans Hong Kong IPO
“It is looking at selling between 5% and 10% of its shares in an IPO,” according to sources.
Myanmar’s Wave Money lands $75.3m from Ant Financial
Wave Money has tapped more than 21 million people in Myanmar.
Alipay plans digitisation for 40 million Chinese service providers
The move marks a shift in the business from financial to digital services.
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
Tencent brings third player UnionPay to China’s mobile payments arena
UnionPay’s QuickPass serves just 240m users, whilst 1.2bn use Tencent’s WeChat.
Razer Fintech, Grab and Singtel bid for Singapore digital banking licence
There are only five of the new licences up for grabs.
Ant Financial to raise $1 billion fund for Southeast Asian and India start-ups
The fund is for payments and online finance start-ups.
China’s Ant Financial is actively looking for Singapore banking licence
The Monetary Authority of Singapore (MAS) has five licences on offer.
Alipay aims for integration with 10m European SMEs by 2024
Chinese payments firm continues its acceptance march in Europe.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
Ant Financial Forms JV with CIMB Subsidiary for Digital Financial Services
In another step to expand its global footprint and promote financial inclusion, Ant Financial Services Group on July 24 announced it’s entering into an equity joint venture with CIMB Group Holdings Berhad subsidiary Touch ‘n Go Sdn Bhd (TNG). The JV will introduce a “world-class mobile platform for payments and other financial services,” the companies said.
An Ant Can Teach A Big Lesson To U.S. FIs
Ant Financial created the world’s largest money market fund in four years by enabling mobile wallet users to move money to the fund simply within the mobile app. The program’s meteoric rise shows that consumers are willing to adopt financial services from new players and the mobile device can supercharge that consumer shift of assets if incumbents don’t react quickly enough.
Ant Wins MoneyGram Board Approval after Upping Bid to $1.2 Billion
China’s Ant Financial Services Group appears to have beat back a surprise challenge by Euronet Worldwide to acquire MoneyGram. After raising its offer for the money transfer giant by more than one-third, to $1.2 billion, Ant’s bid has earned the approval of MoneyGram’s board of directors. But the deal still must win regulatory and shareholder approval before Ant officially acquires MoneyGram and gains a massive foothold in the global remittance market.
MoneyGram Board Says Company Can Further Consider Euronet Proposal
Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.
Investment Roundup: Fintech Financing Heats Up
With funds flowing from some of the biggest names in payments, including PayPal and Ant Financial, March got off to a hot start for worldwide e-commerce and fintech investment. Providers around the globe have landed hefty financing rounds from some venture capital, payments and financial services heavyweights during the first half of the month.
Euronet Outbids Ant Financial for MoneyGram
Payments processor Euronet is dangling more money and the potential for faster, simpler regulatory approval in front of MoneyGram investors, significantly outbidding China’s Ant Financial Services Group for the No. 2 U.S.-based money transfer company.
Ant Financial Makes Giant Leap into Remittance Biz with MoneyGram Buy
Ant Financial Services Group, the online and mobile financial services affiliate of Chinese e-commerce giant Alibaba Group, has just become a competitive juggernaut in the remittance business with the acquisition of MoneyGram, the second-largest provider of money transfer services based in the U.S. The transaction of approximately $880 million for all of MoneyGram’s common and preferred shares announced Jan. 26, not only helps MoneyGram compete with Western Union, it helps the combined company compete with startups that have been trying to shake up the market for years.
