It handled more payments last year than Mastercard , controls the world’s largest money-market fund and has made loans to tens of millions of people. Its online payments platform completed more than $8 trillion of transactions last year—the equivalent of more than twice Germany’s gross domestic product.
阿里巴巴集团(Alibaba Group Holding Ltd., BABA)旗下金融服务关联公司蚂蚁金融服务集团(Ant Financial Services Group, 简称：蚂蚁金服)去年处理的支付交易规模比万事达卡(Mastercard Inc., MA)还要大，控制着全球最大的货币市场基金，向数千万人提供贷款。该公司的在线支付平台去年完成的交易规模超过8万亿美元，相当于德国国内生产总值(GDP)的两倍有余。
Ant Financial Services Group, founded by Chinese billionaire Jack Ma, has become the world’s biggest financial-technology firm, driving innovations that let people use their phones for buying insurance as easily as groceries, enabling millions to go weeks at a time without using physical cash.
That success is also putting a target on the company’s back. China, even more than the U.S., is now under pressure to reckon with the disruptive power of a financial-technology giant.
China’s banks complain Ant siphons away their deposits, causing them to pay higher interest rates, and is a factor leading them to close branches and ATMs. One commentator at a state-owned television channel described Ant’s huge money-market fund as “a vampire sucking blood from banks.”
Regulators have issued rules requiring large money-market funds to sharply reduce holdings of assets that allow them to pay high interest rates. They have pressured Ant to slow inflows into its giant money fund.
The authorities are also weighing whether to designate Ant a financial holding company and require it to meet bank-style capital requirements, people familiar with the matter say. That would likely affect its profits, which last year came to $2 billion, pretax, on roughly $10 billion in revenue.