• Register
Return to: Home > News > Ant Financial takes over Lazada’s helloPay payment platform

Ant Financial takes over Lazada’s helloPay payment platform

Ant Financial, the payment affiliate of Chinese e-commerce giant Alibaba Group, has snapped up Singapore-based payment service helloPay Group for an undisclosed sum.

helloPay, the payment arm of e-commerce firm Lazada Group, operates in Singapore, Malaysia, Indonesia and the Philippines. Last year, Alibaba acquired a controlling interest in Lazada for $1bn.

helloPay will now be rebranded as Alipay. The features and services of helloPay will however, remain unchanged and the service will remain independent of Alipay's mobile app.

Employees of helloPay will join Ant Financial Services Group as part of the deal.

Ant Financial senior vice president Douglas Feagin said: “There will be no impact to helloPay’s users and payment partners. We will continue to innovate and provide users with safe, fast and convenient payment services.”

Ant Financial has invested in various Asian firms in the recent times. In February 2017, Ant Financial invested $200m in South Korean mobile financial platform Kakao Pay as well as acquired a stake in Filipino fintech firm Mynt.

Earlier this month, the company also teamed up with Indonesia's Elang Mahkota Teknologi (Emtek) to launch a mobile payments service.

Top Content

  • RBC net income rises 9% in Q2

    Royal Bank of Canada (RBC) has reported a net income of CAD2.81bn for the second quarter of 2017, up 9% from CAD2.57bn in the same quarter of the previous year.

    read more
  • CIBC retail and business banking unit net income dips in Q2

    The retail and business banking arm of Canadian Imperial Bank of Commerce (CIBC) posted net income of CAD647m for the second quarter of 2017, a fall of 1% compared to CAD652m in the same period last year.

    read more
  • TD Bank Canadian retail unit net income rises 7% in Q2

    TD Bank Group's Canadian retail unit has reported net income of CAD1.57bn for the second quarter of 2017, up 7% from CAD1.46bn in the corresponding quarter of the previous year.

    read more
  • Dubai to grant temporary financial services licence to fintech firms

    Dubai Financial Services Authority (DFSA) has decided to allow fintech firms to apply for a restricted financial services license to foster innovation in Dubai.

    read more
  • Archover secures full FCA authorisation

    ArchOver, a P2P business lending platform in the UK, has received full authorisation from Financial Conduct Authority’s (FCA) to function as P2P lending platform.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.