We are advising Clip on the consumer payments partnership

Davis Polk is advising PayClip Inc. (Clip) on its partnership with Ant International, Mastercard Inc. and TelevisaUnivision Inc. to launch a consumer-facing digital wallet and financial services platform in Mexico. In connection with the launch, Clip has secured $500 million of funding, subject to regulatory approval.

Clip is the leading commerce and digital payments platform in Mexico. It empowers businesses to interact and transact with their consumers more effectively through innovative technologies, best-in-class customer service and the ability to accept all payment methods digitally.

Ant International is a leading global digital payment, digitization and financial technology provider focused on enabling inclusive growth through continuous innovation and extensive collaboration. Its brands include Alipay+, the unified wallet gateway with cross-border payment and digitization services that help connect global merchants to a wide variety of payment methods, used by billions of mobile users.

Mastercard powers economies and empowers people in 200+ countries and territories worldwide, supports a wide range of digital payments choices and makes transactions secure, simple, smart and accessible.

Televisa is a major telecommunications corporation which owns and operates one of the most significant cable companies, as well as a leading direct-to-home satellite pay television system in Mexico.

The Davis Polk corporate team includes partner Michael Senders, counsel Alexander J. Yang and associate Jacob Weltman. Partner Aliza Slansky and associate Yueyu Yang are providing tax advice. Partner Byron B. Rooney is providing capital markets advice. Partner Frank Azzopardi and associate Shreya R. Kundur are providing intellectual property advice. Partner Adam Kaminsky is providing executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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