Alipay parent Ant Financial says services to surpass payments business

Eric Jing, CEO of Ant Financial, said the company thinks of itself as a technology firm, and that Alipay was its starting point to show what could be done with tech.

“Ant Financial, from day one, we are positioned as a tech company. But previously we just wanted to make sure we are really using the tech to be innovative, to create examples, to redefine financial services that people can feel, can touch,” Jing said in an interview which aired Wednesday.

Payments accounts for more than 50 percent of Ant Financial’s revenue currently, a source familiar with the matter told CNBC. The source could not talk on the record because those financial details are private. Payments could decline as a portion of revenue.

When asked whether technology services would be the main business in the future, Jing said, “in the long term, yes,” but Alipay would be the “flagship” consumer product.