Macro· Fintech· People

Ant Financial’s future is tech services and not payments: CEO Eric Jing

minutes 2018/11/15 03:58:48
China's Financial News, China News, Ant Financial

Nov 15, 2018 (China Knowledge) - Ant Financial's CEO, Eric Jing, has said in a recent interview with CNBC, that Ant Financial's core business in the future will be technical services, not payments.

Ant financial operates China's largest mobile payment platform - Alipay, with more than 700 million annual active users, making online payments as Ant Financial's main business. The payments account for more than 50% of Ant Financial's revenue.

Earlier, Ant financial has invested in many technologies, such as blockchain, but instead of developing crypto currencies, the company explored the application of the financial technology. It is worth mentioning that Ant Financial has, recently, announced a new brand in fintech and is seeking to sell technical services to financial institutions such as banks.

Eric said, "from the first day, Ant Financial was a technology company. But before that, we just wanted to make sure that we were using technology to innovate and to create instances, to redefine financial services so that people could feel it."

When asked whether the technical services will be Ant Financial's main business in the future, Eric responded, "in the long run it will be, but Alipay will also be a flagship consumer product. We want to be a platform to benefit more people."

For the question of whether or when Ant Financial will be listed, that everyone cares about; Eric also gave a clear response that there is no listing schedule for Ant Financial. Besides that, he added,  "in the future we see a huge opportunity, so for us, initial public offering is just a specific phase of development, which is a natural thing to do. Our ultimate goal is to serve more users."

Copyright © 2018

Send feedback or comments to:

For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today:

To access our page on Bloomberg, type CKFI