Chinese E-comm Giant Buys E-cash Processor

CHINESE E-COMM GIANT BUYS E-CASH PROCESSOR

27th January, 2017 at 10:05:10
Source: http://www.azonlinecasinos.com

MoneyGram now belongs to an Alibaba associate, Ant Financial.

MoneyGram, an e-cash processing company and rival to Western Union as a popular method of making online gambling transactions, has been acquired for an undisclosed consideration by Ant Financial, a company associated with the Chinese e-commerce giant Alibaba.

MoneyGram shares rose 10% as news of the deal broke Thursday, but CNN opined that there could be fall-out from the Trump administration due to MoneyGram's popularity as a vehicle for Mexicans resident in the US to send money to relatives in Mexico.

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