While Amazon has taken only baby steps into the fast-growing Southeast Asian market, Alibaba and its Ant Financial spin-off have marched in with all guns blazing.
Inevitably, Alibaba's biggest impact across Southeast Asia is in online shopping. While the region's main markets are just a fraction of China's $1.2 trillion online spending power -- Indonesia, for instance, is just $8.2 billion -- the company has growth potential in mind.
Alibaba has used a multi-pronged strategy in Southeast Asia, supporting a string of acquisitions, starting 2013, with a push into online financial services through its Ant Financial subsidiary.
As a matter of fact, Ant Financial's strategy outside of South East Asia, in markets such as Pakistan and Bangladesh, has been to take a stake and a partner with an established online finance firm, often a service launched by a telco company.
This is an excerpt from the article published on TechInAsia. You can read the full article here.