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Fintech
Users of Alipay and its glocal partners exceeds 900 mln
CKN
2018/11/30 06:40:48
3,586
China Financial News, China News, Ant Financial

Nov 30, 2018 (China Knowledge) - Ant Financial Services Group has announced that its payment and lifestyle platform, Alipay, and its glocal partners together have recorded more than 900 million users globally.

The platform is the financial arms of Alibaba Group , which aims to bring inclusive financial services to the world. Alipay was founded in 2004 by the company, and was brought under the management of Ant Financial in 2014.

The platform has recorded over 700 million of active users in China as of September 2018, with 70% of the users using at least three services available of the platform itself.

Alipay started its globalization efforts since the 2007, with its in-store payment service available for use by Chinese users in over 40 countries and regions. Chinese tourists can now enjoy VAT refunds at the airports in 29 countries and regions.

The company seeks to increase its market shares not only in China but globally as it competes with its rival, Tencent’s WeChat pay.

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