Alex Webb, Columnist

How Jack Ma Can Turn British Coal Into an Asian Gem

Buying WorldFirst gives Ant the technology it needs to service an international marketplace. That’s good news for Alibaba’s growth plans.

February 14, 2019 at 9:00 PM UTC

By Alex Webb

Alex Webb is a correspondent for Bloomberg Quicktake. He previously covered the technology, telecoms and media industries in London, San Francisco and Munich.

Alibaba Generated Over USD 25.3 Billion During Singles\' Day — Photographer: VCG/Visual China Group

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Jack Ma has found a way to turbocharge the benefits that Ant Financial, the Chinese payments giant he controls, can derive from the global ambitions of Alibaba Group Holdings Ltd., his e-commerce behemoth.

Ant, which was spun out of Alibaba in 2014 and is best known for its Alipay service, has agreed to acquire London-based WorldFirst. The little-known international transfers specialist has technology which could serve as an important foreign beachhead for the two Chinese firms.