Ants global play is to be a payments aggregator and it now reaches 1B users

News Summary

  • Built on top of the technology capabilities and know-how of Alipay, Alipay+ offers cross-border digital payment and marketing solutions connecting global merchants, online and offline, with multiple e-wallets and payment methods from different countries and regions and helping the merchants to engage with mobile-savvy consumers of those payment methods.
  • Alipay+ has integrated with 15 payment methods, allowing its partnered merchants to reach over one billion consumers, Angel Zhao, president of international business at Ant Group, said during the Singapore Fintech Festival on Thursday.To create a network effect, Alipay+ has been busy onboarding merchants.
  • It’s built something akin to the Mastercard or Visa network for digital payments, allowing consumers to travel easily with their mobile wallet from home.Ant dubs the payments processing network Alipay+ to distinguish it from Alipay, its consumer-facing wallet that has become ubiquitous in China.
  • A Filipino tourist visiting Japan, for instance, can pull up their GCash wallet and pay at a store that supports Alipay+ by scanning a QR code; they can also display their wallet’s QR code for the cashier to scan.
  • All the while, Alipay+ has automatically calculated and done the currency conversion part.Alipay+ charges enterprise software fees acting as a cross-border payments and merchant marketing solution provider, a spokesperson for Ant tells TechCrunch.But how would a user of GCash know about Alipay+ in the first place?
  • Other Alipay+ partnering wallets across Asia have similarly incorporated these perks.The appeal of Alipay+ for merchants, on the other hand, is that one billion consumers can conveniently pay at their stores.
After trying for years to replicate the success of its QR codeenabled payments solution overseas, Ant Group seems to have finally found a path to scaling. Instead of going after end users, the Aliba [+3909 chars]