Ant Group curbs support for overseas e-wallet partners in strategy rethink ahead of listing

//Ant Group curbs support for overseas e-wallet partners in strategy rethink ahead of listing

Ant Group curbs support for overseas e-wallet partners in strategy rethink ahead of listing

China’s Ant Group has been cutting funding and staff support to many of the overseas e-wallet firms it has invested in as it pivots away from earlier ambitions of becoming a global payments leader, people with knowledge of the matter told Reuters.The shift in strategy by the Alibaba Group Holding-backed fintech giant came late in 2019, brought on by a change at the helm and a reworking of priorities as it planned for its IPO and grappled with regulatory challenges at home.(Alibaba is the parent…

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By | 2020-10-30T01:58:51+00:00 October 30th, 2020|Business|Comments Off on Ant Group curbs support for overseas e-wallet partners in strategy rethink ahead of listing