August 16: Global Times states that Chinese company Alipay will start offering its online payment services in Pakistan by the end of this year, local media reported on Wednesday. Alibaba's Ant Financial had announced in March this year that it would purchase 45 percent stakes in Pakistan's Telenor Microfinance Bank (TMB), which is a subsidiary of the Telenor Group, at 184.5 million US dollars. The step was aimed at further developing Alibaba's mobile payment and digital financial services in Pakistan.
Global Times: Chinese firm to offer online payment in Pakistan by year-end
