Ant Group expands Alipay+ E-Wallet ecosystem to 10 Asian markets in major cross-border initiative

13/11/2023 News

Ant Group, the financial technology giant, has introduced a pioneering initiative, the “Alipay+-in-China” (A+China) Program, marking a major expansion of the Alipay+ cross-border mobile payment ecosystem. This groundbreaking move allows users of 10 leading Asian e-wallets in countries including Malaysia, Mongolia, Singapore, South Korea, and Thailand, to seamlessly utilize their home e-wallets in the Chinese mainland, covering a substantial population of over 175 million.

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The A+China Program is not only a global first but also a strategic move by Ant Group to facilitate the introduction of international mobile payment services in China ahead of the Hangzhou Asian Games. Under this program, users have the flexibility to bind their international bank cards to an updated international version of Alipay, enabling them to enjoy a host of mobile payment and digital life services during their stay in China.

Seven new e-wallets, including mPay, Hipay, Changi Pay, OCBC, Naver Pay, Toss Pay, and TrueMoney, have joined the A+China Program, bringing the total number of overseas e-wallets accepted in the Chinese mainland to 10. This expansion enhances the Alipay+ cross-border mobile payment ecosystem, allowing users to experience secure, smooth, and cashless payments across Alipay’s extensive merchant network.

Ant Group is actively promoting the A+China Program through extensive educational and marketing campaigns, especially targeting top tourist cities in China. The initiative has received support from the People’s Bank of China, NetsUnion Clearing Corporation, international card organizations, and other financial institutions.

Douglas Feagin, Senior Vice President of Ant Group, emphasizes the importance of expanding partnerships and merchant networks, stating that it aligns with Alipay+’s future strategy to invest in payment and digital marketing technologies. The A+China Program positions Alipay+ to tap into the vast merchant network of China, comprising tens of millions of points of sale.

This groundbreaking initiative is a testament to the collaborative efforts of multiple parties, fostering an open and inclusive cross-border consumption environment in China. Ant Group's commitment to leveraging digital technologies to enhance user experiences and support small businesses reflects its broader mission to contribute to a better world.

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