Alibaba Group partners with Banking Circle

Friday 28 September 2018 11:28 CET | News

Alibaba Group has signed up with Banking Circle, the global scale financial utility, to use Banking Circle’s  infrastructure and global network.

Established in 1999 Alibaba Group enables businesses to transform the way they market, sell, operate. Alibaba Group also provides the technology infrastructure and marketing reach to help merchants, brands and other businesses to leverage new technology to engage with their users and customers.

Domiciled in the European Union, Banking Circle specialises in providing global payment account transactions and foreign exchange services to financial institutions, including fintechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers.

In June 2018, global investment company EQT (through the EQT VIII and EQT Ventures funds), together with company founders and other co-investors entered into an agreement to acquire Saxo Payments Banking Circle from Saxo Bank A/S and other minority owners.

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Keywords: Alibaba, Banking Circle, payments, money transfer, businesses, e-wallets, alternative payment, merchnats
Countries: World

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