Malaysia’s CIMB Group said it is tying up with Ant Financial Services Group, the parent company of Alipay to provide mobile wallet and related financial services. A CIMB Unit, Touch ‘n Go, will be majority shareholder and Ant Financial a minority shareholder. The capital injected by both parties will go towards the creation of a world-class online and offline payments provider, delivering superior mobile wallet solutions and other related financial services, CIMB said in the statement. This will be Ant Financial’s first investment in Malaysia.
