Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Friday, December 28, 2018 12:11:58 PM
By: Zacks Equity Research | December 28, 2018
Alibaba Group Holding Limited’s (BABA - Free Report) affiliate, Ant Financial, is leaving no stone unturned to bolster presence in the global digital payment sector.
The company is making aggressive efforts to buy London-based currency exchange startup, WorldFirst. The startup provides currency-hedging services to facilitate online overseas money transfer?.
Reportedly, Ant Financial is in talking terms to acquire the startup at about $632.5 million.
U.K. Fintech Space Holds Promise
Post the acquisition, Alibaba will be able to foray into the booming fintech market in the U.K. that holds significant growth opportunities.
Per the latest report from Statista, this particular market is riding on well-performing digital payments segment. The total transaction in the market is projected to reach $149.9 billion in 2018.
Further, the report suggests that the total transaction value is expected to reach $219.4 billion at a CAGR of 7.9% between 2018 and 2023.
We believe that Alibaba is well poised to benefit from the market on the back of Ant Financial’s strategic investments and robust services portfolio.
Alibaba Group Holding Limited Price and Consensus
Growing Global Presence
Expanding global footprint of Ant Financial is a key catalyst for business growth. Apart from U.K.’s fintech market, the company has successfully forayed into other international markets on the back of strategic acquisitions and partnerships.
Early this year, the company announced the acquisition of 20% stake in bKash, a Bangladesh-based mobile financial services provider. Further, its partnership with Pakistan-based Telenor Group to acquire 45% stake in Telenor Microfinance Bank led to the expansion of Alipay in Pakistan.
Further, Alibaba extended partnership with First Data (FDC - Free Report) for the deployment of Alipay at the latter’s point-of-sale in North America. Also, the company’s tie-up with Paytm has enabled it to penetrate the Indian online payment space.
Additionally, Ant Financial’s increasing global investments are major positives. Investments in Thailand, Korea, Indonesia, Hong Kong, Malaysia, the Philippines, Pakistan, Bangladesh and India bode well for the company’s global expansion initiatives.
Read More »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent BABA News
- AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension • IH Market News • 09/19/2024 10:26:48 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/13/2024 08:01:58 PM
- Apple Loses EU Dispute; Google’s $2.7 Billion Fine Upheld; Oracle Shares Surge 9% • IH Market News • 09/10/2024 10:02:31 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/06/2024 08:00:22 PM
- Broadcom Down 10% Post-Earnings, UiPath Up 8%; Qualcomm Eyes Intel Assets; Salesforce Acquires Own Company • IH Market News • 09/06/2024 11:59:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/05/2024 08:01:03 PM
- Alibaba.com Unveils Game-Changing AI Sourcing Agent, Helping SMEs Simplify Global Trade • PR Newswire (US) • 09/05/2024 06:00:00 PM
- Alibaba.com and Mastercard Team up to Launch U.S. Co-Branded Business Credit Card Powered by Cardless • PR Newswire (US) • 09/05/2024 06:00:00 PM
- Qualcomm Develops Mixed Reality Glasses; Verizon to Boost Dividend, Eyes Acquisition; Samsonite Plans US Dual Listing • IH Market News • 09/05/2024 10:11:35 AM
- Alibaba International Wraps Up 2024 Global E-Commerce Challenge, Highlighting Youth Innovation • PR Newswire (US) • 09/04/2024 01:34:00 PM
- Alibaba International Wraps Up 2024 Global E-Commerce Challenge, Highlighting Youth Innovation • PR Newswire (US) • 09/04/2024 01:13:00 PM
- High Volatility Expected in Nvidia Report, Ambarella Soars 20%, Hertz Strengthens Board, Apple Cuts Jobs • IH Market News • 08/28/2024 09:50:36 AM
- Cruise and Uber Join Forces for Robotaxis, Alibaba Shifts Primary Listing to Hong Kong, Altria Hikes Dividend 4.1% • IH Market News • 08/23/2024 12:20:26 PM
- Alibaba Group Announces June Quarter 2024 Results • Business Wire • 08/15/2024 10:30:00 AM
- U.S. Futures Rise on Easing Inflation, Oil Prices Rise • IH Market News • 08/15/2024 10:09:48 AM
- Google Forced to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- Google Mandated to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- Form 13F-HR - Quarterly report filed by institutional managers, Holdings • Edgar (US Regulatory) • 08/14/2024 08:03:09 PM
- Starbucks Rises 3%; Disney Unveils New Films and Expansions; Uber CEO Questions Tesla Robotaxi Viability, and More • IH Market News • 08/12/2024 09:46:16 AM
- TSMC July Revenue Surges 45%, Nasdaq Accelerates Penny Stock Delistings, Moody’s Downgrades Intel to BAA1, and More • IH Market News • 08/09/2024 09:44:44 AM
- Alibaba Group Will Announce June Quarter 2024 Results on August 15, 2024 • Business Wire • 08/02/2024 09:00:00 AM
- Apple Delays AI Features, Abbott Shares Plunge 7% After $495M Fine, Philips Soars 10% • IH Market News • 07/29/2024 10:24:10 AM
- NBA Signs $77 Billion Broadcast Deal, CrowdStrike Criticized for Insufficient Reward, Honda Shuts Down Chinese Factory • IH Market News • 07/25/2024 10:15:46 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM