Seeking growth, Alibaba partners with India’s largest online payment provider to help people ‘live without cash’
With the lack of widespread use of electronic payment systems in India, the country is an attractive market for Alibaba to seek further growth through a partnership between its affiliate, Ant Financial Services Group, and Paytm, which has 140 million users in 50 Indian cities. Tencent, which has built financial services atop its popular WeChat app, is also targeting the country and led the investment of $175 million in an Indian messaging startup in August.
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Jan 20, 2017