2017年CRI Alibaba, SAIF invests 200 million dollars in Paytm（在线收听）

Alibaba has invested 177 million U.S. dollars into Paytm. [Photo: techweb.com]

Alibaba has announced its buying a major stake in Indian e-commerce firm Paytm.

Alibaba is investing 177-million into Paytm, giving it a 36-percent stake in the firm.

The Chinese company is already the largest shareholder in One97 Communications, which itself controls a stake in Paytm E-Commerce.

Paytm is best known in India for its e-wallet system, which has over 200-million users in India, but also handles direct-deposits for employee payments.

For more on this, we are joined live by CRI financial analyst Cao Can.