China's Ant Financial buys helloPay
Beijing
ANT Financial, the payment affiliate of Alibaba Group Holding Ltd, has acquired Singapore-based payment service helloPay Group, as part of the Chinese firm's drive to boost its Alipay brand and presence in South-east Asia.
helloPay is the payment subsidiary of e-commerce firm Lazada Group, which is majority-owned by Alibaba after a US$1 billion deal in 2016, and will be re-branded as Alipay in relevant markets, including Singapore, Malaysia, Indonesia and the Philippines, Ant said in a statement on Wednesday.
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