Indian version of "Alipay" received investment from Ant Financial to introduce Chinese technology

　　Since Alibaba Group and its financial subsidiary Ant Financial invested in Paytm in 2015, Paytm, a well-known mobile payment and business platform in India, has experienced rapid development.

　　It is understood that as early as September 2015, Paytm received a second round of financing of US$680 million, making Alibaba and Ant Financial well-known shareholders of Paytm.

　　Paytm CEO Vijay Shekhar Sharma said Ant Financial's investment symbolizes a milestone in Paytm's development.

　　In this investment, Paytm has received important technical support: QR code QR code technology, risk control technology, anti-money laundering tools, etc.

　　Sudheendra Kulkarni, chairman of the Indian Observer Research Foundation think tank, said that India's traditional banking industry has been slow to meet the needs of such a large population. He also pointed out that it is very important to get ordinary people to join the digital economy, which will promote social progress and end poverty.

　　Wang Jun, a professor at China Europe International Business School, said that from the cooperation between Paytm and Alipay, we can see that India is actively learning from China.

　　Paytm's users have reached 220 million, becoming the third largest mobile payment platform in the world.

　　Paytm internal employees told the media on April 12 that its users grew by one million per month. In India, Paytm's trademarks appear in various physical stores, such as gas stations, flower markets, bakeries and bars.

　　Paytm has more than 200 million transactions per month, and the transaction volume is five times the total of all traditional card swiping terminals in India.

　　China's mobile payments and digital technology will unleash the huge potential of the Indian market. Now, through the establishment of the financial system, India will accelerate its escape from the nightmare of poverty.

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