Ant Group

Ant Group's Alipay is linking to Pakistan's NayaPay as part of a push to support tourism to China, Revolut has obtained a license from Mexico's National Banking and Securities Commission, and more.

Ant Group, the company behind Alipay, plans to set up independent boards for its international, database and digital technologies operations as it pushes forward the overhaul of its fintech business, according to a memo seen by Bloomberg.

In addition to Ant's possible deal to buy MultiSafepay and Adyen's work with Straumur, Visa has partnered with TECH5 on government ID and Mastercard is expanding its virtual-card network through Rawbank.

Germany, traditionally a cash-heavy economy, is seeing a rise in debit card use. Meanwhile, Indian regulators accuse several crypto exchanges of violating anti-money-laundering rules.

China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.

China’s central bank said its planned digital currency will coexist with technology platforms like Ant Group’s Alipay, Tencent and WeChat Pay, which currently dominate the online payments market.

Ant Group created an investment advisory platform on its Alipay app, allowing companies that offer robo adviser services to reach its 1 billion users.

Ant Group and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.

illionaire Jack Ma’s Ant Group delivered about $2.3 billion in profit in the quarter right before Chinese regulators brought down the hammer on the financial technology giant’s record public offering and ordered it to scale back its sprawling business.

Ant Group Co.’s valuation may be cut further under new measures proposed by China to curb market concentration in its online payments market, according to new estimates from Bloomberg Intelligence.