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- ANT GROUP ALIPAY WECHAT PAY CHINESEALPERREUTERS MOVIE
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Nevertheless, Alipay is still seen as lagging behind WeChat Pay's mini-program functions. Other localized services offered on Alipay include Alibaba-owned navigation app Amap and travel booking platform Fliggy. Since 2017, Alipay has rolled out Alibaba-owned food delivery service Ele.me and restaurant review site Koubei on its platform. "After going public, it will have to expand in local services because it will be more challenging to expand overseas due to geopolitical tension," he added. "Ant will need collaborations with Alibaba or it won't be able to fight Tencent and its companies, Meituan, JD.com and its mini-shops," Yang said.
ANT GROUP ALIPAY WECHAT PAY CHINESEALPERREUTERS MOVIE
In effect, it is playing catch-up with WeChat, which has gained "super-app" status through its offering that ranges from booking a taxi to buying a movie ticket. WeChat is also expanding into e-commerce through its "mini-programs," enabling users to access and purchase products without leaving the app.Īnt Group said it is raising capital to tap into the digitization of the services industry. JD.com and Meituan Dianping have built walled gardens accepting only WeChat Pay. , food delivery platform Meituan Dianping and other brick-and-mortar retailers, as well as its ownership of WeChat. Tencent is a rival to both Ant and Alibaba through investments in e-commerce companies JD.com Inc.
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Tencent Holdings Ltd.'s WeChat Pay rose to 38.8% from 10.0% during the same period, according to iResearch. Alipay's market share fell to 55.4% in the first quarter of 2020 from 82.6% in the third quarter of 2014. Yang said Alibaba's overall retail system will be crucial to help Alipay retain its lead in the mobile third-party payments market turf war, a key revenue driver. A lot of the payment transactions are brought in by e-commerce," said Shawn Yang, managing director of Blue Lotus Capital. "It is hard to imagine Alipay and Alibaba parting ways. The "synergy" between the two businesses is emphasized as one of Ant's strengths in its preliminary prospectus, although Alibaba accounted for just 6.2% of Ant's revenue in the first half of 2020.
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Spun off from Alibaba in 2011, Ant Group is 33% owned by its former parent, while Alibaba founder Jack Ma holds a 50.52% stake. Ant's upcoming dual listing in Hong Kong and Shanghai, through which it could reportedly raise about $30 billion, is unlikely to change this dynamic as the tie-up will become even more important amid increasing competition across its operations, analysts say. Ltd., the most valuable fintech startup in the world.
ANT GROUP ALIPAY WECHAT PAY CHINESEALPERREUTERS SERIES
Follow our series previewing the landmark IPO by Ant Group:Īnt Group's dual-IPO seeks to raise at least $34.4B in world's biggest offeringĬhina payments giants may face limited risk, tweak growth plans as US mulls banĪnt-sized transaction margins will not spoil giant IPO valuationĬhina's startup STAR board will still have long way to go after Ant's mega-IPOĬhina's Ant Group may seek clear blue skies in Southeast Asia to grow via M&AĪnt Group's lack of strong messaging platform concerns investors as IPO loomsīank disruptors doubling down on mobile payments in Chinaīorn in 2004 as a digital payment service to support transactions on Alibaba Group Holding Ltd.'s online marketplaces, Alipay has since grown to become Ant Group Co.