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Alibaba Will Buy Interswitch Soon - Prediction

Finally, it happened - Alibaba has bought WorldFirst, the UK firm.

Ant Financial,  the financial services behemoth affiliated with Chinese e-commerce giant Alibaba, has made its first big move into Europe. It’s acquired London-headquartered payments company WorldFirst in a deal that sources tell us is valued at around $700 million.

I had noted that Alibaba will acquire Nigeria's Interswitch, mentioning WordFirst in the piece.

Interswitch Verve is a solid product and can be scaled all over Africa; Interswitch missed the opportunity as I explained in the monopoly hangover piece. No other sub-Saharan African company has that type of product. So, it is natural that Ant Financial will come for it. Another company to watch is WorldRemit which does remittance; Ant Financial may also decide to pick it if the WorldFirst deal fails.