Because Alipay itself can't provide the return on capital, at the same time, although Alipay obtained the fund payment license in May 212, it doesn't have a fund sales license. To this end, Taobao's sales fund and Alipay's balance treasure business are both conducted by opening accounts directly in fund companies.

in a sense, AliPay borrowed the direct selling license of the fund company to provide its customers with the service of purchasing funds and enjoying the fund's rate of return. In this respect, Alipay must choose at least one fund company for cooperation. Tianhong Fund is the fund company with the clearest attitude and the most active promotion of this cooperation.

Extended information:

Yu 'ebao's account opening process is very convenient and quick, and the necessary information of users such as ID cards and bank account opening during the fund sales process is also provided by Alipay to Tianhong Fund. However, in this process, the user did not directly open an account in Tianhong Fund, nor did he have an independent account password of Tianhong Fund. Tianhong Fund's service to Yu 'ebao customers is also mainly realized through Ali Want Want.

Reference: Yu 'ebao bid farewell to Tianhong Fund? There is still a big move in the opening of the ant financial service platform-People's Daily Online