Latest news with #AntGroup
South China Morning Post
15 hours ago
- Business
- South China Morning Post
Ant Group pushes wider adoption of AI-enabled smart glasses for mobile payments
The first such payment outside mainland China was recently completed in Hong Kong using Meizu 's StarV smart glasses, according to a statement on Thursday by the company, an affiliate of Post owner Alibaba Group Holding That transaction was made via AlipayHK, the Hong Kong platform of Ant Group's flagship Alipay app, using Meizu's smart eyewear to scan the QR code and use voice command. The whole process – including voice interface, intent recognition and voice authentication – was powered by Ant's artificial intelligence (AI) system. The mobile payments functionality shows that proponents of AI glasses are expanding use cases to help broaden the adoption of smart eyewear. The Ant-Meizu initiative comes days after a similar launch on the mainland by augmented reality (AR) glasses maker Rokid with the Hangzhou -based fintech giant. The Rokid eyewear introduced on Tuesday supports in-store payments by scanning the QR code and confirming payment with a voice command. 'In the coming years, this technology could enable people to complete transactions simply by looking at or gesturing towards a product,' Ant said in an earlier statement on Tuesday.
CNBC
2 days ago
- Business
- CNBC
Klarna CEO wants to turn the platform into a 'super app' with AI
Klarna's CEO is so bullish about artificial intelligence that he sees it changing the way the fintech's 100 million users bank every day as he sets out to diversify the company's services. On Wednesday, Klarna — a pioneer of the popular "buy now, pay later" payment method — is announcing the launch of mobile phone plans in the U.S. via a partnership with telecom services startup Gigs. The plans come with unlimited data, calls and texts and will cost $40 a month. The new phone offering aligns with CEO Sebastian Siemiatkowski's vision to make Klarna more of an all-encompassing personalized financial "super app" that can offer services outside the realms of traditional finance. It isn't the company's first attempt. Previously, Klarna tried to make itself more akin to a "super app" — similar to Ant Group's Alipay and Tencent's WeChat Pay — offering additional services through multiple different buttons. This ended up being "confusing for the customer," Siemiatkowski told CNBC in an interview. But the Klarna boss stressed the part AI can play in Klarna's fresh attempt. "I think in this new AI world, there's a better opportunity to serve customers with different services and then adopt the kind of level of articulation and visualization of those services than there was historically," he said. "With AI, you can abstract and adopt the experience much more to the specific user you're dealing with," Siemiatkowski said in an interview. Super apps are popular in China and in other parts of Asia. They're meant to serve as a one-stop shop for all your mobile needs — for example, having taxi-hailing and food ordering in the same place as payment and messaging services. While super apps have flourished in Asia, adoption in Western markets has nonetheless been slower due to a number of reasons. Siemiatkowski says he's spending a lot of his time focusing on AI. "There's a tremendous opportunity for that — but it's just getting it to work," he said. "Everyone who has used it knows it can spit out some exciting stuff but then you need to make sure that it works every time." Going forward, Klarna's chief sees the platform becoming more of a "digital financial assistant" for users' every-day banking needs. "If we have some information that suggests that you are overpaying for your carrier subscription or your data or whatever, we can now offer you both a suggestion of a better price model, but also with a click, implement that and make it a reality," Siemiatkowski said. Acknowledging issues with Klarna's previous attempt to become a super app, Siemiatkowski says the technology just wasn't "mature" enough at the time. Klarna reported a $99 million loss for the quarter that ended in March, citing one-off costs relating to depreciation, share-based payments and restructuring. Still, Klarna has a perception problem to overcome. In the U.S., the firm has become synonymous with the "buy now, pay later" (BNPL) payment method, which allows consumers to pay off orders over monthly installments — typically interest-free. By contrast, in Europe, consumers recognize they can use Klarna to store their deposits and pay for things in one go as well as via a credit plan, Siemiatkowski noted. He also expressed frustration with "the kind of memes that we get in in the U.S. when it's like, 'Oh, Klarna launched with DoorDash ... it is a sign of the macroeconomic environment," referring to a tie-up the company announced with food delivery app DoorDash earlier this year that was met with backlash online. Siemiakowski said this kind of reaction wouldn't happen in the German or Nordic markets, where Klarna operates more like online payment system PayPal. He sees a future where Klarna works as a more all-encompassing financial ecosystem with add-on services such as features for investments in stocks and cryptocurrencies — which, he adds, is "not that far off." "Offering people the ability to invest in both stock and crypto is is what's becoming a kind of more standard part of a neobank offering," he said, while stressing he doesn't want to compete with popular U.S. stock trading app Robinhood. Klarna paused plans to go public in April, after U.S. President Donald Trump announced sweeping tariffs on dozens of countries. Siemiatkowski said that Klarna has already achieved what it set out to do in order to be ready for that milestone — namely, building up a brand in the U.S. "The U.S. is now our largest market by number of users. It's a profitable market for us," he said. "Those things have been accomplished." Whether the company does or doesn't go public, the business strategy for Klarna remains the same. "That is just a healthy way to drive liquidity for our shareholders, as well as give the company more ways to fund itself, if it would like to do so, and ... to show that this is a an established company," Siemiatkowski said.
Economic Times
2 days ago
- Business
- Economic Times
MakeMyTrip is buying out its Chinese stakeholders; these startups have also reduced Chinese holdings
After coming under fire from rivals for allegedly being a China-controlled company, MakeMyTrip is set to join a group of companies that have lowered the stake of their Chinese largest online travel platform plans to raise $3 billion through a mix of debt and equity to buy back shares from Group. Following this, stake in MakeMyTrip will drop to 19.99% from 45.34% currently, and its board representation will shrink to two directors from Indian companies have also been reducing the stakes held by Chinese investors after geopolitical tensions between the two nations. Let's take a look: Paytm Ant Financial, a subsidiary of Alibaba, was a major early investor in Paytm and had a stake of about 25%. Over the past few years, Antfin Netherlands Holding has gradually reduced its stake in Paytm's parent One 97 Communications to under 5%. This began in 2023 when Antfin cut its approximately 23% stake to 20% by selling shares worth Rs 2,307 crore. Later in the year, founder and CEO Vijay Shekhar Sharma acquired a 10.3% stake worth $628 million from Ant, reducing its holding to 9.8%. Last month, Antfin sold a 4.1% stake in One97 Communications, through a block deal worth Rs 2,200 crore. ZomatoAlibaba was an investor in the food and grocery delivery firm through two entities: Ant Financial and Alipay Singapore Holding. The Ant Group had invested Rs 3,246 crore in the company through several tranches between 2018 and 2020. In 2023, Alipay sold its entire stake in Zomato for about Rs 3,336 crore through a block deal. Meanwhile, Ant Group sold Zomato shares worth more than Rs 4,772 crore in two block deals last August, netting 4x returns and bringing its stake down to 2.1%. At the time of Gurugram-based Zomato's initial public offering in 2021, Ant Group was the second largest shareholder in the company after Info Edge, an early backer that still has a 13.7% stake. BigBasket In 2021, the Tata Group and Big Basket finalised a $1.2 billion deal giving the salt-to-software conglomerate a 60% stake in the e-grocer. The deal provided a full exit to Alibaba. Dream11 Chinese firm Tencent invested $100 million in Dream11 in 2018 during a Series D funding round for a stake of approximately 10%. Over time, it has reduced that holding due to the challenging regulatory environment. In an interview with ETtech, CEO Harsh Jain said Tencent now owns less than 10% of Dream Sports. He added that the company won't raise any fresh capital from Chinese investors in the future. Delhivery China's Fosun International in 2021 sold a portion of its stake in logistics company Delhivery to Addition, a company founded by former Tiger Global executive Lee Fixel, and late-stage equity fund Bay Capital. Fosun held around 3.8% in Delhivery and sold 1.3%, sources had told ET then. The company had also said it was looking to exit Delhivery altogether before its public issue. Pratilipi Digital storytelling platform Pratilipi on April 3 raised $20 million in a funding round led by Jungle Ventures. The round included $8 million in secondary deals, and provided an exit of Chinese investors Qiming Venture Partners and Shunwei Capital.
Time of India
2 days ago
- Business
- Time of India
MakeMyTrip is buying out its Chinese stakeholders; these startups have also reduced Chinese holdings
After coming under fire from rivals for allegedly being a China-controlled company, MakeMyTrip is set to join a group of companies that have lowered the stake of their Chinese investors. India's largest online travel platform plans to raise $3 billion through a mix of debt and equity to buy back shares from Group. Following this, stake in MakeMyTrip will drop to 19.99% from 45.34% currently, and its board representation will shrink to two directors from five. Other Indian companies have also been reducing the stakes held by Chinese investors after geopolitical tensions between the two nations. Let's take a look: Paytm Ant Financial, a subsidiary of Alibaba, was a major early investor in Paytm and had a stake of about 25%. Over the past few years, Antfin Netherlands Holding has gradually reduced its stake in Paytm's parent One 97 Communications to under 5%. Live Events This began in 2023 when Antfin cut its approximately 23% stake to 20% by selling shares worth Rs 2,307 crore. Later in the year, founder and CEO Vijay Shekhar Sharma acquired a 10.3% stake worth $628 million from Ant, reducing its holding to 9.8%. Last month, Antfin sold a 4.1% stake in One97 Communications, through a block deal worth Rs 2,200 crore. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Zomato Alibaba was an investor in the food and grocery delivery firm through two entities: Ant Financial and Alipay Singapore Holding. The Ant Group had invested Rs 3,246 crore in the company through several tranches between 2018 and 2020. In 2023, Alipay sold its entire stake in Zomato for about Rs 3,336 crore through a block deal. Meanwhile, Ant Group sold Zomato shares worth more than Rs 4,772 crore in two block deals last August , netting 4x returns and bringing its stake down to 2.1%. At the time of Gurugram-based Zomato's initial public offering in 2021, Ant Group was the second largest shareholder in the company after Info Edge, an early backer that still has a 13.7% stake. BigBasket In 2021, the Tata Group and Big Basket finalised a $1.2 billion deal giving the salt-to-software conglomerate a 60% stake in the e-grocer. The deal provided a full exit to Alibaba. Dream11 Chinese firm Tencent invested $100 million in Dream11 in 2018 during a Series D funding round for a stake of approximately 10%. Over time, it has reduced that holding due to the challenging regulatory environment. In an interview with ETtech , CEO Harsh Jain said Tencent now owns less than 10% of Dream Sports. He added that the company won't raise any fresh capital from Chinese investors in the future. Delhivery China's Fosun International in 2021 sold a portion of its stake in logistics company Delhivery to Addition, a company founded by former Tiger Global executive Lee Fixel, and late-stage equity fund Bay Capital. Fosun held around 3.8% in Delhivery and sold 1.3%, sources had told ET then. The company had also said it was looking to exit Delhivery altogether before its public issue. Pratilipi Digital storytelling platform Pratilipi on April 3 raised $20 million in a funding round led by Jungle Ventures. The round included $8 million in secondary deals, and provided an exit of Chinese investors Qiming Venture Partners and Shunwei Capital.
Business Upturn
2 days ago
- Business
- Business Upturn
Alipay Enables In-Store Payment Functionality in China for AR Glasses in Collaboration with Rokid to Build Immersive Commerce
Hangzhou, China: Over 250,000 units of Rokid Glasses have already been ordered, integrated with Alipay's digital payment technology for AR glasses. The integration of payments into AR glasses supports a future of seamless, intuitive commerce—enabling instant, gesture-based transactions, immersive product discovery, and new ways for businesses to engage customers. Rokid, a pioneer in augmented reality (AR), today launched Rokid Glasses, its latest AR device. In China, the product supports in-store payments facilitated by Alipay's digital payment technology and multidimensional risk control solution for AR glasses, providing a seamless and secure payment experience. This press release features multimedia. View the full release here: Rokid partners with Alipay to launch China's first AR glasses with in-store payment capabilities. According to Rokid, the product will begin rolling out to users starting in June 2025, with over 250,000 units already ordered. How Payment via AR Glasses Works: Users link their Alipay account via the Rokid app and enable voice verification. In stores, they say: 'Rokid, pay 10 RMB.' The glasses scan the merchant's Alipay QR code. Users confirm by voice, with payment details shown on the display. Advantages of Payment via AR Glasses: Transactions complete in seconds vs. 20-30 seconds for phone-based QR payments. Hands-free operation—no need to handle a smartphone. 'Equipping Rokid Glasses with payment capabilities brings users a smoother and more intuitive experience, while also ushering the AI glasses industry into the era of payment. We believe this will set a new benchmark for the industry. Behind this innovation is close collaboration with Alipay on both payment and risk technologies. Looking ahead, we will continue to explore new experiences together,' said Zhu Mingming, Founder and CEO of Rokid. 'Rokid Glasses deliver a brand-new user experience. Alipay will fully support the growth of emerging industries and continue to create more value for users,' said Zhang Aijuan, Vice President of Ant Group and Rotating President of the Digital Payment Business Unit. The integration of payment functions into AR glasses points to a future of more seamless and intuitive commerce. In the coming years, this technology could enable people to complete transactions simply by looking at or gesturing toward a product, removing friction from both physical and digital shopping. It may support interactive product discovery—letting users access real-time information, virtual try-ons, or personalized recommendations—and make it possible to pay instantly without reaching for a phone or wallet. For businesses, this opens up new ways to engage customers through immersive experiences and location-specific offers. Alipay continues to innovate payment technology as a merchant's gateway to customer engagement in borderless commerce. In 2024, Alipay Tap! was launched to allow users to make payments simply by tapping their unlocked phone against a merchant terminal or an Alipay Tap! Tag—no need to open an app, scan a code, or navigate through multiple screens. As of April 2025, Alipay Tap! had already attracted over 100 million users. About Rokid Rokid is a product-oriented platform company dedicated to human-computer interaction for over a decade. As pioneers of AR, Rokid devotes itself to the R&D of hardware and software products for AR headsets and ecological architecture. The magic of AR leaves nobody behind. Rokid has successively been rated as the 'High-tech Enterprise of Zhejiang Province' and 'National High-tech Enterprise,' and its related products have been rated as the best wearable devices. Rokid has won the Las Vegas CES Innovation Award for three consecutive years and the German IF Design Award five times. About Alipay As the world becomes increasingly digital, Alipay has evolved from a trusted e-wallet into an all-in-one digital platform for daily services, connecting more than one billion consumers to over 80 million merchants across China. Alipay offers users a secure, seamless mobile payment experience and integrates over 10,000 services across sectors like travel, healthcare, tourism, and entertainment. With digital tools like Alipay Tap!, mini-programs, lifestyle accounts, Alipay enables merchants, institutions, and independent software vendors (ISVs) to enhance operational efficiency and effectiveness. In addition, Alipay is developing a new AI-driven open platform by integrating AI agents to deliver smarter, more personalized services to its users as well as facilitating the digital transformation of the service sector. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
