Ant Group Announces Appointment of First Southeast Asia Head

Ant Group announced today that it has appointed Jia Hang as the general manager of the group's Southeast Asia region. It is reported that this is the first regional head of the Southeast Asian market of Ant Group. Ant Group stated that this newly created position will help strengthen the group's talent and capacity building in the Southeast Asian region, and can better support the development of individuals and businesses in the region, especially assisting small and medium-sized enterprises to ride the wave of the digital economy.

According to the data, Jia Hang has more than 20 years of experience in payment and financial technology. He has worked in UnionPay International for nearly 10 years and is a former UnionPay executive. He joined Ant Group in May 2015 and served as senior director and vice president. He has served as a supervisor of Ant Group since December 2016 and has served as the chairman of the supervisory board since August 2020.

Jia Hang said that Ant will use the payment cross-border mobile payment service to accept popular digital payment methods from around the world to better serve over 1 billion Southeast Asian consumers. It is understood that from around 2015, Ant Group began to deploy payment business overseas.

From 2016 to 2018, Ant Group built a local "Alipay Wallet" by investing in shares + technical output, that is, by taking shares in local companies.

Since 2016, Ant has launched strategic cooperation with Ascend Money, a Thai payment company, to jointly build TrueMoney, a Thai version of the wallet; invested in Kakao Pay, a mobile financial subsidiary of Kakao in South Korea; invested in Mynt, a digital financial company owned by Globe in the Philippines; and cooperated with local Indonesian companies to launch digital wallets. Wallet DANA; launched AlipayHK, an independent e-wallet app for Hong Kong users; formed a joint venture with CIMB Bank of Malaysia; built a mobile wallet Easypaisa in Pakistan; and built a local version of Alipay with a Bangladeshi company.

Obviously, in the past few years, Ant Group's overseas expansion has extended to more than ten countries including India, South Korea, Thailand, Bangladesh, the Philippines, Singapore, Indonesia, Myanmar, Vietnam, and Pakistan. Last year, the international layout of Ant Group began to enter the harvest period.

On November 3, 2021, Kakao Pay, known as "Korean Alipay", went public with a market value of over $20 billion. Ant is its second-largest shareholder, holding 39.1% of the shares, and the major shareholder is its parent company Kakao, holding 47.8% of the shares.

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