Ant Small & Micro Financial Services Group, Jack Ma’s payment-processing affiliate of Alibaba (BABA.NYSE), announced their intentions yesterday to expand their overseas presence, Bloomberg reported. Alibaba indicated in an August filing with the U.S. Securities and Exchange Commission that its financial affiliate may conduct an IPO in the future. Alipay, which was transferred from Alibaba to Small & Micro Financial in 2011, currently has 17.9 million users in over 100 countries, with the mobile version handling 45 million transactions per day. In addition to Alipay, Small & Micro’s services include the money market fund Yu’E Bao, investment platform Zhao Cai Bao, small loans business Ant Credit, banking operation MYbank and the Alipay Wallet application.
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