Ant Financial definition
Examples of Ant Financial in a sentence
Ant Financial – Alibaba’s fintech division – partnered with Xuzhou’s Fengxian County to create an “inclusive finance + smart county” (普惠⾦融 + 智慧县域) programme of rural financing for the hitherto un-banked.100 The scheme saw a total of 3.8 billion RMB (530 million USD) of loans issued to 210,000 individuals and companies, while the data collected as part of the programme were also used to provide discounts on rents, hospital deposits, parking spaces and public transport for trustworthy entities.
Ant Financial leverages its customer insights and technologies to help financial institutions, independent software vendors and other partners on its platform to enhance experience of their users and improve their risk management capabilities.
Reference is made to the announcement of the Company dated June 29, 2018 relating to, among others, the entering into of the 2018 Payment Services Framework Agreement between the Company (for itself and on behalf of its subsidiaries) and Alipay, a wholly-owned subsidiary of Ant Financial, for a term commenced from June 29, 2018 and ending on March 31, 2019.
Alipay is a wholly-owned subsidiary of Ant Financial, which together with its subsidiaries were deemed as connected persons of the Company by the Stock Exchange in July 2017 under Rule 14A.19 of the Listing Rules.
Alipay, a limited liability company established in the PRC and a wholly-owned subsidiary of Ant Financial, is principally engaged in providing payment processing service.
Ant Financial provides digital payment services and other financial and value-added services to consumers and small and medium sized enterprises in the PRC and across the world, such as payment, wealth management, lending, insurance and credit system.
Alipay is a wholly-owned subsidiary of Ant Financial which together with its subsidiaries were deemed as connected persons of the Company by the Stock Exchange in July 2017 under Rule 14A.19 of the Listing Rules.