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Business trends

Alipay partners with Yahoo Japan to expand mobile payments reach

CEO of Chinese company says move will attract tourists and help Japanese economy

Eric Jing, CEO of Ant Financial Services Group
Eric Jing, CEO of Ant Financial Services Group, thinks Alipay will help align Japan's mobile payment system more closely with other Asian countries. (Photo by Akihide Anzai)

TOKYO -- Ant Financial Services Group and Yahoo Japan have formed a partnership, hoping to grab a slice of the mobile payments business in Japan, the two companies said Wednesday.

Ant, a financial technology affiliate of Chinese e-commerce leader Alibaba Group Holding, also announced that it will work with regional banks in Japan to promote its Alipay payment platform, which allows mobile phone users to pay by scanning quick response, or QR, codes.

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