Mynt, the Philippine mobile payment operator part-owned by Ant Financial, is expanding its microloans offering by opening up its platform to bank partners.
The move aims to use the risk-management capability of its Chinese shareholder to diversify into the internet finance marketplace. Mynt’s chief executive, Anthony Thomas, said the purchase of a 45 per cent stake by Ant Financial last year has equipped the Manila-based firm with the ability to seek out new revenue sources away from the mobile payment and remittance services run by its licensed operating arm, GCash.
Source: South China Morning Post
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