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Ant Group (Chinese: 蚂蚁集团; pinyin: Mǎyǐ jítuán), formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.The group owns the world's largest mobile (digital) payment platform Alipay, which serves over 1.3 billion users and 80 million merchants, with total payment volume (TPV) reaching CN¥118 trillion in June 2020.
Alipay's new feature allows users to track how the app collects data about them and is an interactive equivalent to a privacy policy, which explains how an app collects, stores, and shares user data. [83] Alipay was banned in India (along with other Chinese apps) on 2 September 2020 by the government amid the 2020 China-India skirmish. [84] [85]
Taobao has developed an extensive set of rules and a constitution which it terms the "General Code". [ 23 ] : 201 The General Code consists of 6 chapters and 31 provisions proscribing the basic access requirements and obligations of users, seller obligations, and the platform's conflict resolution mechanism.
State-backed firms are set to take a sizeable stake in Ant's credit-scoring joint venture for the first time, three people told Reuters last week. The partners plan to establish a personal credit ...
Notably, foreign companies aren't responsible for paying the duties. Instead, U.S. businesses directly pay the tariffs on their imported goods to the federal government, according to the Tax ...
[67]: 33 These measures retroactively recognized the legal status of online third-party payment platforms like Alipay. [67]: 33 Alibaba Group spun off Alipay in 2010 in a controversial move. [176] In 2011, Alipay obtained a license to become one of the first licensed non-financial institutions to conduct payment operations. [67]: 33
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