Alibaba affiliate , Ant Financial and key Alibaba investor, Primavera Capital have placed $410m into KFC owner's spinout, Yum China ; Primavera will invest $410m and Ant Financial $50m . In the case of Yum, the company plans to incorporate Alipay mobile and point of sale payment services across KFC, Taco Bell and Pizza Hut restaurants, and also help them develop and run consumer loyalty programs and other commerce initiatives. This is viewed as a strategic investment for Ant Financial , as part of its "online to offline" plans. “Through this collaboration, we aim to help KFC provide world-class mobile payment services for tens of millions of customers across its brands," said President of Ant Financial's , Alibaba affiliate . This follows Ant Financial's investment in another food industry, $ 1.25bn into Ele.me, earlier this summer .
Alibaba affiliate , Ant Financial and key Alibaba investor, Primavera Capital have placed $410m into KFC owner's spinout, Yum China ; Primavera will invest $410m and Ant Financial $50m . This is viewed as a strategic investment for Ant Financial , as part of its "online to offline" plans. “Through this collaboration, we aim to help KFC provide world-class mobile payment services for tens of millions of customers across its brands," said President of Ant Financial's , Alibaba affiliate . This follows Ant Financial's investment in another food industry, $ 1.25bn into Ele.me, earlier this summer .