Don’t let Ant Group’s name fool you, it is anything but small. The centacorn formerly known as Ant Financial finally filed to go public, jointly listing in both Shanghai and Hong Kong, and sharing more details on the business. Founded in 2004 as an offshoot of Alibaba, the far-reaching behemoth has come to dominate the payment and financial services markets over the last 15 years. The scale and scope of the company make it far more than ‘just another wallet’.
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China Opens Its Payments Doors
Being a tourist in China just became a whole lot easier. Alipay and WeChat Pay — the dominant, QR-code based payment methods that have taken the world by storm — are now available for use by foreigners. This is a significant milestone for the companies and the country, and a harbinger for global expansion.
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