This data is collected, collated and fed back to the merchants who use Alibaba’s ecommerce platforms,
enabling them to better target customers.
“Techfins see data as not just something to help grow their business but as the core of their business.” -Steve Worthington
In 2014, Alibaba created Ant Financial, a financial services arm. In the year ending March 2017 its pre-tax profits rose by 86 per cent to $US814 million. Through its payment platform Alipay, Ant Financial now commands more than half of China’s $US5.5 trillion mobile payments market.