Together with Ant Financial, Ascend Money will grow its online and offline payment and financial services ecosystem and strengthen its payment services for users and merchants. The partnership represents Ant Financial’s first-ever investment in a Thailand-based company. With this partnership, Ant Financial, which also runs Alipay, the mobile payment app in China, will provide Ascend Money with technical support for the growth of its business.
Leveraging Ant Financial’s functionalities in payment, Big Data, risk control and cloud computing functionalities, the partnership with Ascend Money aims to offer Thai consumers equal access to financial services.
Currently, Ascend Money provides payment services such as domestic and international remittance, bill payment, top up services, online and offline payments and payroll services. Future services will include lending, insurance and investment.
In early 2015, Ant Financial joined forces with Paytm to promote digital payments to local users in India. Ant Financial is also working global payment partners, including Concardis, Ingenico, Wirecard and Zapper in Europe, First Data and Verifone in North America, Paysbuy and Counter Services in Southeast Asia, Recruit in Japan and KICC and ICB in Korea.
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