Ant Financial Services Group (“Ant Financial”, or the “Company”), one of the world’s leading digital financial services providers, today announced its global blueprint for promoting digital financial inclusion, and a strategic agreement with Ascend Money, the leading fintech company in Thailand. Under the agreement Ant Financial will invest in Ascend Money, which aims to accelerate the growth of a leading mobile lifestyle and digital financial services platform in Thailand and support its growth in SE Asia.
Together with Ant Financial, Ascend Money will grow its online and offline payment and financial services ecosystem and strengthen its trusted and convenient payment services for users and merchants. The deal represents Ant Financial’s first–ever investment in a Thailand–based company and demonstrates the Company’s confidence in the financial services sector in Southeast Asia. With this partnership Ant Financial, which also runs Alipay – the largest mobile lifestyle and payment app in China and beyond with over 450 million users – will provide Ascend Money with strategic and technical support for the growth of its business.
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Source: ASEAN TODAY