MoneyGram helps consumers and businesses move money around the world through hundreds of thousands of physical outlets. It’s partnered with Wal-Mart Stores Inc. as the U.S.
retailer’s money-transfer agent, and also lets clients pay for everything from their mortgages to utility bills.
Ant Financial, whose Alipay handles the majority of transactions on Alibaba Group Holding Ltd.’s online shopping sites, last year appointed a new chief executive officer to steer its next
phase of growth and possibly oversee a public market debut in 2017.
Formally known as Zhejiang Ant Small & Micro Financial Services Group Co., the Chinese company has begun making investments abroad, notably in India and Southeast Asia, to
take its model of online finance and local services to emerging markets. Last year, executives of Ant Financial visited Silicon Valley to size up potential investments and lay the
groundwork for an IPO.
Ant started out as a unit of Alibaba before Ma spun it out in 2010, inviting objections from shareholders including Yahoo! Inc.