China's internet-payments market is the World's biggest, reckons Goldman Sachs, with $11 trn in transactions last year, twice the size of America's credit- and debit-card industry. Ant Financial, a payment company affiliated with Alibaba, controls 51% of it. The Firm is 16 times larger than PayPal (which made Peter Theil famous), on this measure. For the same reason Ant is now the World's most valuable "Fintech" firm, worth some $60 bn, it has 520 m payments customers at home and its affiliates abroad have 112m, mainly in Asia*).
*) Economist August 19, 2017