China's Ant Group scaled back support to overseas e-wallet partners in run-up to IPO

China's Ant Group scaled back support to overseas e-wallet partners in run-up to IPO

Photographer: Shiho Fukada/Bloomberg

China’s Ant Group Co Ltd has been cutting funding and staff support to many of the overseas e-wallet firms it has invested in as it pivots away from earlier ambitions of becoming a global payments leader, people with knowledge of the matter told Reuters.