Alipay Has More than 1 Billion Annual Active Users

A new filing from Alibaba, who owns 33 percent of Ant Financial, reveals that Alipay claims to have 1.3 billion annual active users as of March; the majority of its users come from China, while the rest were acquired through their nine e-wallet partners in India, Thailand, South Korea, the Philippines, Bangladesh, Hong Kong, Malaysia, Indonesia and Pakistan; Ant Financial recently rebranded to The Ant Group as they have repositioned the company as a tech company that offers payments gateways and sells digital infrastructure to banks, insurance groups and other traditional financial institutions; Ant’s new boss Hu Xiaoming set the goal for the firm to generate 80% of total revenues from technology service fees, up from about 50% in 2019. TechCrunch.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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