World famous billionaire and Alibaba chairman Jack Ma will join world leaders at the Asia Pacific Economic Cooperation (APEC) summit in Da Nang next month.
The six-day APEC summit will open on November 6 in the central Vietnamese city of Da Nang, with world leaders including US President Donald Trump, China's Xi Jinping and Russia's Vladimir Putin expected to attend.
Prior to APEC, Jack Ma is expected to visit Hanoi on November 6 to attend a forum on e-payment services and speak with the capital's students.
Now in its third year, the annual Vietnam E-Payment Forum (VEPF), co-hosted by VnExpress and the National Payment Corporation of Vietnam, provides an opportunity for the government, experts and businesses to sit down together and discuss the latest trends in e-payment services and the best ways to apply them in Vietnam.
This year, mobile payment will be in the spotlight.
As a speaker at the event, Jack Ma, founder and executive chairman of Chinese e-commerce giant Alibaba, will talk about his experiences of developing e-commerce and mobile payment services in China.
E-payment has gradually replaced cash in Vietnam's northern neighbor, and these days, most Chinese people pay for products and services using their smartphones.
According to iResearch, the leading provider of online audience measurement and consumer insights in China, the mobile payment market was valued at US$5.5 trillion last year in China, nearly 50 times greater than that of the US, and Ant Financial Service, a subsidiary of Alibaba, contributed a lion's share of 54%.