Ant International expands Alipay+ bank network with Hang Seng Bank

Ant International has added Hang Seng Bank arsenic a banking spouse to Alipay+, its unified wallet gateway.

In a statement, the institution said the Alipay+ web present includes much than 50 integer wallets and fiscal institutions, covering some accepted banks and digital-only providers.

Hang Seng Bank is Alipay+'s archetypal banking spouse successful Hong Kong.

Under the partnership, Hang Seng Mobile App users tin marque payments by scanning QR codes successful the Chinese Mainland and overseas. The work is disposable astatine much than 100 cardinal merchants crossed implicit 55 countries and regions, utilizing the Hang Seng Mobile App.

"Through Alipay+, banks are capable to rapidly physique caller gross streams, summation integer engagement and present caller value-added services for users done cross-border payments", the connection said.

Ant International linked the concern to rising request for outbound cross-border payments from Asia Pacific, which it said is expected to turn faster than the planetary average.

The institution cited projections that consumer-to-consumer (C2C) and consumer-to-business (C2B) outbound cross-border outgo measurement from the portion could scope 3.7 trillion by 2032, astir doubling from 2024.

According to Ant International, Alipay+ is accepted successful much than 220 markets. The institution said it connects with much than 10 nationalist QR systems, including Malaysia's DuitNow, Thailand's PromptPay and Uzbekistan's HUMO.

Banks successful respective markets person already linked their mobile app users to Alipay+ for cross-border payments.

These see Public Bank Berhad successful Malaysia, Bank of the Philippine Islands and Asia United Bank successful the Philippines, OCBC successful Singapore, Kasikorn Bank and Siam Commercial Bank successful Thailand, and Vietcombank successful Vietnam.

Ant International provides integer payments, digitisation and fiscal exertion services.

The institution precocious closed a Series A equity financing circular of astir $1.2bn. It plans to usage the backing to accelerate planetary enlargement and enactment merchandise improvement crossed merchant payment, relationship absorption and different fiscal services.

"Ant International expands Alipay+ slope web with Hang Seng Bank" was primitively created and published by Electronic Payments International, a GlobalData owned brand.