January 10, 2018
Being denied an opportunity to buy an entrance ticket into the US market, Ant Financial nonetheless finds a way to establish a channel for future endeavors with MoneyGram. This collaboration is as meaningful of a move from one of the Chinese dragons, as an acquisition would be, identifying a very serious intention to finally cross the US border.
With the merger off the table, MoneyGram and Ant Financial have instead formed a strategic business cooperation with plans to work together to develop strategic initiatives in the remittance and digital payments markets.
Companies will collaborate to provide their respective customers with user-friendly, rapid-response and low-cost money transfer services in China, India, and the Philippines, among other Asian markets, as well as in the US and other key regions around the world.
Establishing this new strategic cooperation with MoneyGram will add a partner with global remittance capabilities to our ecosystem and, while Ant Financial won’t have a direct ownership relationship with MoneyGram, we look forward to working closely with the MoneyGram team to make our platform even more accessible – particularly to unbanked and underserved communities globally – and create even better experiences for our customers. – Doug Feagin, President of Ant Financial International
Because of Tencent’s family of businesses – including social, entertainment, news, literature, gaming, payment, sports, and others – they have a unique connected consumer data that goes beyond big data to create a closed-loop view of consumer data. This ecosystem of connected businesses enables Tencent to learn more completely about consumer beliefs, behavior, and preferences, enabling them to connect consumer behavior across channels – something that isn’t available in the US. This unique ability enables Tencent and marketers to draw better consumer-level insight and activate this with cross-channel programming. From a B2B perspective, Helen Luan, VP of Online Media Group at Tencent, indicates that they are able to leverage this unique insight to help brands develop a more complete One View of the consumer and as importantly, develop a more integrated, across platform relationship.
Today, we’re excited to announce we’ll be bringing together all the different ways to pay with Google, including Android Pay and Google Wallet, into a single brand: Google Pay.
With Google Pay, it’ll be easier for you to use the payment information saved to your Google Account, so you can speed through checkout with peace of mind. Over the coming weeks, you’ll see Google Pay online, in-store, and across Google products, as well as when you’re paying friends. – Pali Bhat, VP of Product Management, Payments