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Exclusive: Ant Financial Denies Cooperation with Mizuho Involving E-Money and Blockchain

Abstract : Ant Financial clarified that Alipay's cooperation is limited to offer offline QR code payments service to Chinese tourists, which has nothing to do with J-Coin Pay.

ChainDD
ChainDD

Feb 25

February 25 (ChainDD) In its press conference on preview of its incoming mobile payment service J-Coin Pay, Mizuho Bank, an arm of Japan’s banking giant Mizuho Financial Group, announced its first partnership with Alipay, the core business of Alibaba’s financial affiliate Ant Financial. Ant Financial clarified with ChainDD that the cooperation is limited to offer offline QR code payments service to Chinese tourists when they are visiting in Japan, and is irrelevant to J-Coin Pay that Mizuho is going to launch or any electronic money or blockchain.

As to some Japanese media’s report that Mizuho’s partnership with Ant Financial involves electronic money and blockchian, Ant Financial’s official response to ChainDD said the report is untrue. Alipay only works with Mizuho to provide offline QR code payments service in Japan for Chinese visitors, which has nothing to do with J-Coin Pay that Mizuho will develop. Just like other local financial partners, Mizuho Bank is one of Alipay’s acquirer partners to help increase local merchants that can accept payment by scanning Alipay paycode.

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