China’s Ant Financial Services Group has said it wants to increase operations in Japan and is actively seeking a partner there.
Ant, the financial services subsidiary of Jack Ma's e-commerce giant Alibaba has been spreading its influence to the south with recent ventures in Thailand, Indonesia, Australia and The Philippines.
On a global basis the company upped its offer for for U.S. money transfer service «MoneyGram International» $1.2 billion bid
Now it is looking at spreading its influence across North-Asia. With a deal in Korea already in the bag after a $200 million investment in South Korea’s mobile platform company Kakao Talk, the focus has turned to the world's thrid-largest economy Japan.
Meeting The Demand
«In Japan, there is a strong need of financial services from small and micro enterprises, and Ant is willing to share its standards and experience with local partners,» a company spokesperson said.
According to an article in the The South China Morning Post the Ant Financial spokesperson declined to provide a timeline for the company’s expansion plans in the world’s third-largest economy.
Ant also plans to double the number of Japanese stores that accept Alipay, the firm’s flagship payment app targeting Chinese tourists, to more than 45,000 this year.
