Merger of parent Ant Financial with helloPay seen helping Alibaba transform its annual Singles’ Day online shopping promotion into a fully fledged international event
Chinese online payments giant Alipay is set to expand its operations in Southeast Asia through the merger of parent Ant Financial Services and helloPay, a move that could also advance Alibaba Group’s efforts to build the international coverage of its annual Singles’ Day online shopping promotion.
Ant Financial, an affiliate of e-commerce powerhouse Alibaba, announced that merger on Wednesday, roughly a year after Alibaba took control of helloPay parent Lazada Group with a US$1 billion investment.