Alipay+ is expanding its banking ecosystem as demand for cross-border mobile payments continues to grow across the Asia Pacific region. Developed by Ant International, the unified wallet gateway is welcoming additional banking partners into its network. The platform already connects more than 50 leading digital wallets and financial institutions. Moreover, the growing network includes both traditional banks and fully digital banking providers.
With acceptance across more than 220 markets worldwide, Alipay+ enables banks to launch cross-border mobile payments through a single integration. As a result, financial institutions can introduce new payment capabilities without managing multiple market-specific integrations. Additionally, the platform helps banks unlock fresh revenue opportunities while improving digital engagement and offering more value-added services to customers.
The latest institution to join the network is Hang Seng Bank, which becomes Alipay+’s first banking partner in Hong Kong. Consequently, users of the Hang Seng Mobile App can now complete QR code payments across the Chinese Mainland and international destinations. Customers can use the application at more than 100 million merchants operating in over 55 countries and regions.
Cross-Border Mobile Payments Drive New Growth Opportunities
Demand for cross-border mobile payments continues to rise across Asia Pacific. Furthermore, industry projections indicate that outbound payment volumes from the region will outpace the global average during the coming years. Combined consumer-to-consumer (C2C) and consumer-to-business (C2B) outbound payment transactions could reach 3.7 trillion by 2032, nearly doubling compared with 2024.
This rapid expansion creates new business opportunities for banks. Therefore, financial institutions can deliver faster and more convenient international payment experiences through familiar mobile banking applications. At the same time, customers benefit from seamless transactions without changing payment habits.
Alipay+ also supports over 10 national QR payment systems. These include Malaysia’s DuitNow, Thailand’s PromptPay and Uzbekistan’s HUMO. This allows banks to efficiently scale up mobile payment acceptance in multiple markets. Institutions can use Alipay+’s existing infrastructure to accelerate deployment and market reach rather than negotiating individual merchant agreements.
Better digital banking experience for customers
Alipay+ also empowers banks to engage customers beyond payments, through its Super App Platform. Banks can directly embed partner mini-programs and plug-in services in their mobile apps. Consequently, customers can use one banking app to access travel-booking services, lifestyle features and other digital experiences.
Economic uncertainty is still a concern, but stronger customer experiences are still a priority. McKinsey & Company has found that banks that improve customer experience tend to have higher returns, stronger growth and lower operating costs. These benefits also translate into improved shareholder returns compared to institutions that deliver subpar customer experiences.
Many leading banks already provide Alipay+ payment capabilities via their mobile apps. Among others are Public Bank Berhad in Malaysia, Bank of the Philippine Islands and Asia United Bank in the Philippines, OCBC in Singapore, Kasikorn Bank and Siam Commercial Bank in Thailand and Vietcombank in Vietnam.
In addition to Alipay+, Ant International is also expanding its portfolio of financial technology with sophisticated platform services. Its Falcon TST AI FX model makes long-term FX predictions with a 93% accuracy rate. Global banks like Citi and Barclays already use the solution. Meanwhile, the company’s AI-powered blockchain platform Whale offers near-instant cross-border liquidity transfers around the clock. Standard Chartered and HSBC are partnering with Ant International to embed the technology into their existing banking systems.
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News Source: Businesswire.com
