Why Alibaba-owned Lazada is doubling down on payments in Southeast Asia

REUTERS/Darren Whiteside

Last week, Lazada, the Southeast Asian e-commerce platform owned by China’s Alibaba, roped in a former Alipay executive as its head of payments for the region — a newly-created role.

The move to hire Dayong Zhang — the ex-Southeast Asia general manager of Ant Group-controlled Alipay — is a sure sign that the company wants to push itself into the growing fintech segment where rivals Grab and Sea Ltd, have had a head start.

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