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Alibaba's Reported Higher Net Income and Revenue for the Quarter

Ant Financial Recieves $60 Billion Valuation

Apr 28, 2016 03:16 AM EDT

Chinese e-commerce giant Alibaba’s affiliate Ant Financial Services Group announced it has completed a huge new fundraising round, which can be used for expanding access to financial services in China's rural areas and improving the company's globalization.

Ant Financial Receives $4.5 billion In Funding.

Ant Financial Surpasses Didi Kuaidi To Receive Largest Funding By A Tech Company

Girish Shetti |

Apr 27, 2016 07:59 AM EDT

Alipay's operating company Ant Financial announced on Tuesday that it has received a staggering $4.5 billion in series B funding. The latest funding has propelled valuation of Ant Financial, which is affiliated to E Commerce giant Alibaba, to $60 billion.

Didi Kuaidi Reported that It is profitable at half of its locations

Didi Kuaidi Teams Up with Lyft to Hail Ride for Chinese Travelers in the US

Charissa Echavez |

Apr 12, 2016 11:18 AM EDT

Chinese travelers who use the ride-hailing app Didi Kuaidi in China can still use the mobile app to book a ride through its new partner Lyft when visiting the United States.

Alipay shoved off issues and confirms it is not charging clients fee for cash withdrawal

Alipay Will Continue Cash Withdrawal Service for Free

Charissa Echavez |

Feb 17, 2016 12:23 PM EST

Shoving off speculations, China's leading third-party online payment system Alipay revealed via a social media post on Tuesday that it will continue to offer its cash withdrawing service for free.

Garnet, a tech consultancy firm, revealed that mobile payment system will soon invade public services

Public Services in China to Accept Mobile Payment Soon

Charissa Echavez |

Jan 30, 2016 07:50 AM EST

A recent report by market research firm Gartner said a mobile payment system will soon be used by residents in more than 70 percent of the cities in China to pay for bills including taxes and electric dues. The firm revealed that a number of local government agencies have been persuaded to switch to the new payment platform.

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