AliBaba is world’s largest e-commerce platform chaired by
Jack Ma. AliBaba group was founded back in 1999. It deals in B2B , B2C and C2C
service via web portals.
In April 2017, Jack Ma had a meeting with then Prime
Minister of Pakistan Nawaz Sharif in Davos where he expressed his interest to
invest in e-commerce sector of Pakistan. Later that year, AliBaba acquired
Pakistan’s biggest online retail store Daraz.pk. Though the amount of
acquisition is undisclosed as per statement by Director Marketing of Daraz
Mehdi Raza “AliBaba has a policy of not disclosing the amount”. Now
AliBaba is planning to acquire EasyPaisa. Remember that AliBaba already
surpassed PayPal as biggest mobile payment platform back in 2013.
EasyPaisa is Pakistan’s biggest micro
financial service introduced by Telenor. For EasyPaisa account,
you don’t need to open a bank account. Your account will be associated with
your sim card. This totally revolutionized the money transfer system in Pakistan
as it became very convenient to transfer cash in remote areas with a nominal
transfer fee. Due to this service, Telenor earned more revenue than it usually
earns from calls and sms.
Competition Commission of Pakistan CCPC gave
go-ahead of investment and AliBaba made its first big move by purchasing 45%
shares of EasyPaisa. We hope that this complete acquisition will bring
significant changes and new features in this service as they brought in Daraz
by launching Signature AliBaba biggest sale of the year 11.11 on 11th
November.
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