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China: Popular payment app Alipay allegedly before forced split Market Research Telecast

September 14, 2021
Source: marketresearchtelecast.com marketresearchtelecast.com
News Snapshot:
China’s leadership plans to split the popular financial app Alipay and move important parts to new applications. That reports the Financial Times and explains that Alipay should also be obliged to provide important user data for the new apps. From the popular app, which has more than a billion users, parts would then have to be removed that fulfill the functions of a credit card (“Hubaei”) and one for small loans (“Jiebei”), writes the newspaper. It is precisely these two parts that are responsible for the latest financial successes of the group, which was recently the focus of the authorities...
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Tags: Alibaba | Alipay | Ant Group | app | applications | Beijing | Business | China | Chinese | credit | credit card | currency | data | finance | financial | fine | ipo | Jack Ma | media intelligence | News Media | online payment | online shopping | Renminbi | technology | Yuan

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