Even at a European conference about fintech, one country dominated the conversation: China.
This specific week, hundreds of fintech companies, through startups to tech giants, gathered at the Money 20/20 conference in Amsterdam, Netherlands. One key theme at the gathering was China’s leading role within the fintech industry.
“Alibaba and also also also Ant Financial, we are literally the globe’s largest fintech company, and also also also we are the globe’s largest e-commerce company, and also also also these two massive machines still, on an annual basis, grow at more than 50 percent a year,” Li Wang, Alipay’s head of EMEA, told CNBC’s Arjun Kharpal at the conference.
Li said Alipay, a mobile and also also also online payment platform, has 870 million active users, with 0 million in China and also also also 270 million within the rest of the globe. These user numbers are a testament to how quickly Chinese consumers have leapfrogged ahead of some other countries when the idea comes to using fintech.