© Reuters. The Alipay brand is displayed subsequent to a QR cost code on the app, on this illustration image taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photograph
BEIJING (Reuters) – China’s central financial institution has agreed that in style cost app Alipay has no controller following a sweeping enterprise overhaul of Jack Ma’s Ant Group, the fintech large that owns the app, in keeping with the web site of the Folks’s Financial institution of China.
In January, Ant Group stated its founder Jack Ma will now not management the fintech large and quit most of his voting rights.
On Saturday, an Ant Group spokesperson stated the company governance optimization introduced on January 7 has been accomplished and it’ll not have an effect on the corporate’s day-to-day enterprise operations.