CIMB’s Touch ‘n Go, Ant Financial to develop mobile wallet solutions

: CIMB Group Holdings Bhd’s subsidiary Touch ‘n Go Sdn Bhd (TNG) has signed a (JV) agreement with Ant Financial Services Group, the parent company of Alipay and the world’s leading digital financial services provider to enable mobile wallet solutions in .

The JV will introduce a world-class mobile platform for payments and other financial services.

The JV will see TNG becoming the majority shareholder and Ant Financial a minority shareholder. The investments by both parties were not disclosed.

This is Ant Financial’s first investment in Malaysia.

CIMB’s which opened at a high of RM6.40 on news of a corporate announcement today, closed unchanged at RM6.35 in morning trade, with some 2.26 million shares changing hands.

Source: The Sun Daily

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