China's central bank agrees Ant Group's Alipay has no controller

China's central bank agrees Ant Group's Alipay has no controller

The Alipay logo is displayed next to a QR payment code on the app, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo

China’s central bank has agreed that popular payment app Alipay has no controller following a sweeping business overhaul of Jack Ma’s Ant Group, the fintech giant that owns the app, according to the website of the People’s Bank of China.