Where will Ant Group’s next billion users come from as it ploughs its jumbo IPO proceeds into overseas expansion?

//Where will Ant Group’s next billion users come from as it ploughs its jumbo IPO proceeds into overseas expansion?

Where will Ant Group’s next billion users come from as it ploughs its jumbo IPO proceeds into overseas expansion?

Chinese fintech giant Ant Group unveiled a joint venture in Russia last year to build an online payments service with a local e-commerce, social networking and gaming conglomerate. The move prompted Russian banks to revamp the way they connect with younger clients, amid fears they could lose a generation of customers to digital ecosystems.Ant, the operator of payments platform Alipay, has already upended financial services in China, the world’s second-largest economy. Now it is on the cusp of…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-10-15T17:30:09+00:00 October 15th, 2020|Business|Comments Off on Where will Ant Group’s next billion users come from as it ploughs its jumbo IPO proceeds into overseas expansion?