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September 27, 2017Blog Posts

Ant Financial and CK Hutchison form mobile wallet JV


Alibaba’s Ant Financial has formed a joint venture with telecoms outfit CK Hutchison to take over the running of the Chinese conglomerate’s AlipayHK mobile wallet in Hong Kong. Dedicated to local-currency payments in Hong Kong, AlipayHK attracted over 100,000 active users in the first two weeks after its launch last May. The mobile app is now accepted in over 4000 outlets in Hong Kong.


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