SEOUL, South Korea, Sept. 28, 2017 /PRNewswire/ -- The online payment platform Alipay, a product of the Chinese Internet commerce giant Alibaba Group, will be expanding its business in Canada through cooperation with Canadian technology firm Snap Pay Inc reports Hollis Kookmin Financial.
The payment platform Alipay was launched in 2004, and now has more than 520M active clients. Thanks to the deal, more Canadian retailers will be able to accept Chinese currency from buyers.
Hollis Kookmin Financial feels that this deal highlights the growth opportunity not just in Alipay but in a lot of Chinese companies that are looking to break into new horizons.
"This gives investors a real confidence boost to start investing in Asian equities." said Yun Hoon who is Head of Research & Analysis at Hollis Kookmin Financial.
Thanks to cooperation with Canadian partners, the payment platform will expand the possibilities of its application in the spheres of education, winemaking, catering, and retail trade.
Besides supporting merchants who deal with Alipay to sell products to the Chinese market, the service can help in person business as well, as Canada is growing into a significant tourist destination for Chinese people.
Commenting directly on the partnership of Alipay and Snap Pay, Head of Mergers & Acquisitions at Hollis Kookmin Financial, Harvey Fletcher said: "Canadian merchants will find the door open to one of largest markets in the world,"
According to representatives of Alibaba Group, Chinese consumers can bring huge profits to Canadian companies, as the middle class is growing in China.
Hollis Kookmin Financial have indicated that this move along with other mergers and acquisitions will see an increase of foreign private clients looking to invest into new financial markets overseas.
About Hollis Kookmin Financial
Hollis Kookmin Financial offers wealth management solutions to individuals, corporate companies and other entities around the world. Our extensive network is formed from the head office, located in Seoul, South Korea and our retail operation is located in Montreal, Canada.
Media Contact - Yun Hoon, Research & Analysis, yun.hoon@hkfglobal.com, +82 2 6433 9620,
SOURCE Hollis Kookmin Financial
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