The company is aiming to have 2 billion customers in 10 years as mobile payments become more mainstream. Part of the strategy is to reach that goal through a series of investments.
More than that, the company has investment into payments service Mynt, a unit of Philippine telco Globe Telecom. In January, Ant Financial said it was buying US money transfer company MoneyGram. The deal has been valued at approximately USD 880 million. In 2016, the company invested in Thailands Ascend Money. The company currently has over 450 million users worldwide.
Kakao is best known for its mobile messenger Kakao Talk and has more than 48 million users. In January, the company decided to spin off its mobile payment service, Kakao Pay, into a separate entity.
Kakao Pay platform, which provides payment transactions, bill payment, remittance and membership management, has more than 14 million members.
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