Ant International is appointed as an inaugural foreign Institution Partner (FIP) of China’s Cross-border Interconnection Payment Gateway (CPG), under the guidance of the People’s Bank of China and the Payment & Clearing Association of China (PCAC).
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Eric Jing, Chairman of Ant Group and Ant International, and Cyril Han, CEO of Ant Group, celebrating China's Top International consumer destinations with card and wallet partners.
Ant International and Alipay are the largest player in the CPG scheme with the largest number of card network and wallet partners, the broadest use cases and largest business volume.
The new CPG scheme is designed to raise connection efficiency and improve system stability for overseas payment partners. Its timely launch opens a safe and smoother highway for these partners to access the Chinese market.
Alipay+, the cross-border payment and digitization services under Ant International, will leverage this new direct connection setup to accelerate growth of its partner eco-system to expand global coverage. This will enable an even more convenient and secure travel experience for international consumers while helping international wallets connect their digital growth networks to 80 million Alipay merchants across China.
As a unified wallet gateway, Alipay+ now partners with 36 e-wallets and eight national QR payment schemes and payment systems worldwide, connecting over 100 million merchants to 1.8 billion consumers accounts.
As the FIP with the broadest fintech coverage in the new CPG scheme, Alipay+ now enables seven major international bank card brands and users from twelve countries and regions to scan-and-pay transactions in the Chinese Mainland. On top of that, Alipay+ also has various technology partnerships with over twenty e-wallets and payment networks across Asia, Europe and other regions.
Alipay+ has built extensive partnerships with government-sponsored mobile payment schemes in emerging markets, to support national agendas for digitization and inclusive growth. Eight national QR schemes and payment systems are developing active international presence via Alipay+, including SGQR (Singapore), PayNet DuitNow (Malaysia), ZeroPay (South Korea), Bakong (Cambodia), NCHL/FonePay (Nepal), LankaPay (Sri Lanka), QRIS (Indonesia), and HUMO (Uzbekistan).
Asia-Pacific region reported USD 9.8 trillion in e-wallet transaction volume in 2023, accounting for nearly two-thirds of the global total, and maintains the world’s highest e-wallet penetration rate.
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About Ant International
With headquarters in Singapore and main operations across Asia, Europe, the Middle East and Latin America, Ant International is a leading global digital payment, digitisation and financial technology provider. Through collaboration across the private and public sectors, our unified techfin platform supports financial institutions and merchants of all sizes to achieve inclusive growth through a comprehensive range of cutting-edge digital payment and financial services solutions.
To learn more, please visit https://www.ant-intl.com
About Alipay+
Ant International's Alipay+ is a unified wallet gateway with cross-border payment and digitization services that help connect global merchants to consumers. Consumers enjoy seamless payments a broad choice of deals and the convenience of digital services using their preferred payment app/e-wallet while travelling abroad. Many small and medium-sized businesses already use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
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