AliPay (an AliBaba Group company) gets US Money Transmitter License

AliPay Money Transmitter License

AliPay Money Transmitter License

Similar to the story of Microsoft getting its money transmitter licenses that I broke here, here is another Goliath which has applied for money transmitter license: Alibaba.

AliPay, an AliBaba Group company was recently awarded a money transmitter license. AliPay is actually owned by ANT Financials (which is an AliBaba Group Company).

ANT FINANCIAL SERVICES GROUP

Financial services provider focused on serving small and micro enterprises and consumers

Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision “to turn trust into wealth,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Micro Loan and Sesame Credit.

Source: http://www.alibabagroup.com/en/about/businesses

Post AliBaba’s US IPO, I was pretty sure they (AliBaba) would be applying for a US Money Transmitter License the US, for they would need one for their broad range of products / services and would not rely on a 3rd party to provide them this coverage. The natural name for the license would be AliPay US as it would most likely be operated as a separate company in the US for all things payments.

The license was granted on 11th of May, 2015 and just showed up on the NMLS public access pages. Washington State was the first one to award them the license.

 AliPay AliBaba Money Transmitter License

Source: http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1277102

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