Jack Ma Backed Ant Group's Alipay+ Broadens Payment Reach Across Continents: How It's Shaping Global Commerce? [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
Ant International, the group's global division, launched Alipay+ in 2020. It allows users to make payments with apps from their home countries via Alipay's QR code network and local partners abroad. Douglas Feagin, Senior VP at Ant Group, emphasized that travelers prefer using their trusted home-country e-wallets instead of unfamiliar foreign apps, CNBC reports With this in mind, Alipay+ connects 88 million merchants across 57 countries and regions to over 1.5 billion consumer accounts from 25+ e-wallets and banking apps. They partner with digital payment services like Singapore's SGQR and South Korea's ZeroPay. Ant's early global strategy, focused on Southeast Asia, saw investments in Singapore's 2C2P and South Korea's Kakao Pay, which now facilitate their international growth. The company also expanded into emerging markets like Sri Lanka and Cambodia. It established European partnerships, such as with Italy's Tinaba and Nexi, and in the Middle East through Dubai Duty Free.
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- 5/14/24 - Form 6-K
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