Alipay parent Ant Financial disclosed it has 622 million users across its financial services platforms in a document sent to potential investors ahead of its latest funding round, Financial Times reported.
The figure, much higher than the 520 million figure on its website, was revealed in advance of a planned $9 billion funding round. Ant Financial’s Alipay is one of the two dominant mobile payment apps in China – the world’s largest market for the technology – sharing leadership with brands operated by WeChat owner Tencent.
Alipay transactions are available across China and in a number of other countries through agreements with retailers and operators, where the service is primarily marketed at travellers from mainland China. In addition to its popular mobile payments platform, Ant Financial also operates wealth management app Ant Fortune, online bank MYbank, and credit scoring service Zhima Credit.
Source: Mobile World Live