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China to break up Ant’s Alipay and force creation of separate loans app – FT

September 13, 2021
Source: causeaction.com causeaction.com
News Snapshot:
https://www.oann.com/china-to-break-up-ants-alipay-and-force-creation-of-separate-loans-app-ft/?utm_source=rss&utm_medium=rss&utm_campaign=china-to-break-up-ants-alipay-and-force-creation-of-separate-loans-app-ft FILE PHOTO: An Alipay sign at the Shanghai office of Alipay, owned by Ant Group, an affiliate of Chinese e-commerce giant Alibaba, in Shanghai, China, September 14, 2020. REUTERS/Aly Song/File Photo September 12, 2021 (Reuters) – Beijing wants to break up Alipay, the hugely popular payments app owned by Jack Ma’s Ant Group, and create a separate app for the company’s highly profitable loans business, the Financial Times reported on Sunday. The plan will also see Ant turn over the user data that underpins its lending decisions to a new credit scoring joint-venture, which will be partly state-owned, the...
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Tags: Alibaba | Alipay | Ant Group | app | Beijing | Business | China | Chinese | credit | data | e-commerce | finance | financial | Giant | loans | media intelligence | News Media | newspaper | Office | online payment | online shopping | photo | Reuters | RSS | Shanghai

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