Ant Financial, Alibaba’s affiliate that handles banking and payment for Alibaba’s services, finally marked its first global investment reach by extending its service to Philippine. With the new service area, customers in the Philippine finally get a chance to conduct online transactions in Alibaba through safer, more convenient method. By working together with several important corporations in Philippine, Ant Financial marked its first global reach, starting from Southeast Asia region, which has proven to be very potential and a good start in Asian market.
Ant Financial Cooperation with Several Major Companies
Alibaba and Ant Financial do not work alone to extend the global reach to Southeast Asia. The new investment reach to Philippine is the result of cooperation between Ant Financial and several major companies in similar fields. Ant Financial has worked together with Globe Telecom in order to increase its global e-commerce service reach; specifically, Ant Financial has invested in Mynt, which is a company that operates in the field of micro transaction and mobile loan service.
Together with a local Philippine cooperation named Ayala, Ant Financial has invested in Mynt’s major stocks. Both of the companies have purchased 45 percent of Mynt’s stocks, leaving Globe Telecom owning the rest 55 percent. This created strong bargain position for Ant Financial in order to improve its service for the first step of global reach. With the investment, Ant Financial also has a plan: improving Mynt’s existing GCash service. The improvement plant will make this service available for wider range of customers, including those who have limitations in their banking and transaction methods.
In the future, there are possibilities of Alibaba to improve popular shopping network Lazada, because Alibaba has earned $2 billion of valuation from the company. This means that Alibaba’s financial affiliation can reach even more customers and extend global investment reach further beyond Southeast Asia.
Ant Financial and Multiple Investments with Asian Companies
Ant Financial investment with Ayala and Mynt is not something new. Recently, Ant Financial has also acquired investment deal with companies such as M-Daq, Ascend Finance, and Paytm. M-Daq is a Singapore-based company, Ascend Finance is a Bangkok finance company, and Paytm is an India-based company that delves in mobile services. Ant Financial hold shares in Paytm, which signifies its bargain power in India’s mobile service market. These investment plans are parts of Alibaba’s goal to improve and expand its business to as many areas in the world as possible.
Currently, Ant Financial is trying to develop Alibaba’s transaction services into wider fields. The company also aims to become the next top dog in e-commerce business, especially in Asia. Currently, Asian countries have become potential areas for e-commerce business and development, with billions of people living in the continent, and many of them love conducting shopping and payment activities online.
With its multiple investment projects, and its future goal to develop more effective system, Ant Financial has become one of top players in e-commerce, especially in Asia. The new investment plans will be crucial for Ant Financial and Alibaba to expand their market, and even supporting e-commerce websites that Alibaba supports.