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Business Spotlight

China's Ant eyes Southeast Asia e-payment dominance with IPO

Shakeup in crowded industry expected as COVID pushes cashless demand

KENTARO IWAMOTO, Nikkei staff writer | Singapore

SINGAPORE -- These days restaurants, taxis and even vending machines in Singapore accept Chinese e-payment service Alipay -- despite the fact that few Singaporeans use it.

"We have Chinese customers, so we introduced it," one restaurant manager in the central business district told Nikkei Asian Review.

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