Alipay is the world's leading open digital daily life services platform operated by Ant Group. In 2004, Alipay launched as an escrow service to address the issue of trust between online buyers and sellers in the early days of e-commerce in China.
As of June 30, 2019, Alipay has grown through continuous innovation to serve more than 1.2 billion users worldwide together with its global e-wallet partners.
Working with more than 250 overseas financial institutions, Alipay has created online payment channels for buyers and sellers in more than 200 countries and regions. Alipay supports transactions in 27 different currencies, as well as tax reimbursement in 35 countries and regions. Foreign tourists and foreigners living in China can also use Alipay for mobile payments while in the country.
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WeLab, a leading pan-Asian fintech platform, operates WeLab Bank as well as multiple online financial services in Hong Kong, Mainland China, and Indonesia, with more than 70 million individual users and over 700 enterprise customers. WeLab uses game-changing technology to help users access credit, save money, and enjoy their financial journey.
Powered by proprietary risk management technology, patented privacy computing techniques, and advanced AI capabilities, WeLab offers mobile-based consumer financing solutions and digital banking services to retail individuals and technology solutions to enterprise customers.
WeLab operates in three markets under several key brands, including WeLend, and WeLab Bank in Hong Kong, various business lines in Mainland China, and Bank Saqu in Indonesia.
WeLab is backed by the most renowned investors including Allianz, China Construction Bank International, International Finance Corporation (a member of the World Bank Group), CK Hutchison’s TOM Group, and Sequoia Capital.
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