Alibaba’s financial services arm is rumoured to be planning an initial public offering in mainland China in the next two years.
A source familiar with the company’s plans has said that the IPO could happen next year at the earliest, or in 2017, the Wall Street Journal reported.
Zhejiang Ant Small & Micro Financial Services Group, known as Ant Financial, owns the Alipay online payment service, but was spun off from Alibaba in 2011.
The company has been expanding its services by taking advantage of Alipay’s user base of 300 million, and a current funding round is valuing the financial services company at tens of billions of dollars, the report said.
Earlier this month, Alibaba chairman Jack Ma said Ant Financial should go public, but added that he had not yet considered when the affiliate company should be listed because it was “still a baby”.
It's banks, not government agencies, that the British people trust to deliver biometric authentication payment services, says a new Visa study.
With less than two weeks to go until the US liability shift hits its first anniversary, MasterCard published new data evidencing the positive impact the technology is having on issuing banks, merchants and consumers, as well as saying adoption continues to grow.
Three years since the public consultation, and a year since the £20 was revealed to be the next note to have a makeover, 13th September marks the day that the new £5 polymer bank note enters into circulation.
Global card payments are growing at twice the rate of the number of cards in circulation as acceptance booms and consumer habits shift away from cash.