Alibaba is in advanced talks to buy an approximately US$500 million stake in One97 Communications, the parent company of Indian mobile payment platform Paytm. “Both Alibaba Group Holding’s e-commerce arm and its online payments unit Alipay are set to participate in the transaction, which will conclude later this month,” the Financial Times reports. When NFC World+ contacted Alibaba for information the e-commerce giant said it has “no comment to offer on this matter”.

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