Alipay operator Ant Group to create separate app for lending business

Source: Tech – South China Morning PostAnt Group, the world’s largest e-payment platform, has been reorganising its businesses to comply with the Chinese central bank’s instructions in April to sever its Alipay payments service from other services that offer consumer loans.The Hangzhou-based company, an affiliate of this newspaper’s owner Alibaba Group Holding, may create a separate mobile application for the lending business, currently operating under the brand names Huabei and Jiebei, according to a report by the Financial Times…Read More

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