China's biggest mobile payments platform is The Naughty New Mom Is My First Love Teacher (2025)spreading to the rest of Asia.
Alipay, from ecommerce giant Alibaba, has a whopping 450 million users in China, who use their phones to pay friends, buy stuff online, and even offline at restaurants and merchants.
On Wednesday, Ant Financial, which runs Alipay, announced its merger with HelloPay.
SEE ALSO: Ecommerce in China: How the World's Biggest Market Buys OnlineHelloPay is the three-year-old payment platform created by ecommerce site, Lazada, which has been dubbed the "Amazon of Southeast Asia."
Last year, Alibaba bought a controlling stake in Lazada, in a deal worth approximately $1 billion.
Alipay is keen to grow outside of China.
While HelloPay is hardly as ubiquitously used in Southeast Asia as Alipay is in China, the merger should pave the way for Alibaba's plans to spread Alipay outside of China.
However, the new localised Alipay platforms in the region aren't compatible with the main Alipay platform. That means users in China wouldn't be able to pay in Southeast Asia, and vice versa.
HelloPay's country-specific versions will be rebranded as Alipay Singapore, Alipay Malaysia, Alipay Indonesia, and Alipay Philippines.
There will be no change for HelloPay’s users and payment partners, confirmed Douglas Feagin, Senior Vice President of Ant Financial, in an emailed statement to Mashable.
This merger follows Ant Financial's keenness to spread globally. Earlier this week, it offered $1.2 billion for US-based Moneygram.
Looks like there's no escaping Alibaba, wherever in the world you might be.
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