China plans to break up Ant's Alipay

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China plans to break up Ant's Alipay
Image credit: Alipay.

And force creation of separate loans app.

Beijing wants to break up Alipay, the hugely popular payments app owned by Jack Ma's Ant Group, and create a separate app for the company's highly profitable loans business, the Financial Times reported. The plan will also see Ant turn over the user data that underpins its lending ...

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alipay breakup china finance financeit

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