Alipay+ expands with new Asia Pacific bank partners
Alipay+, the cross-border mobile payment network operated by Ant International, is expanding its banking partnerships as demand for digital transactions surges across the Asia Pacific region.
Hang Seng Bank became the latest—and first in Hong Kong—to integrate with the platform. Users of the bank’s mobile app can now scan QR codes to pay at over 100 million merchants in more than 55 countries, including mainland China.
Banks tap into cross-border payment growth
The move comes as outbound cross-border payments from Asia Pacific are expected to grow faster than the global average. By 2032, consumer-to-consumer and consumer-to-business transactions in the region could reach $3.7 trillion, nearly double the 2024 volume, according to projections.
Alipay+ allows banks to offer these services without negotiating separate agreements with merchants in each market. The platform already connects with over 10 national QR payment systems, including Malaysia’s DuitNow, Thailand’s PromptPay, and Uzbekistan’s HUMO.
More than 50 digital wallets and financial institutions already use Alipay+, which is accepted in over 220 markets. The single integration reduces technical barriers for banks looking to expand their reach.
This growth isn’t just about transactions. Banks can also embed additional services into their apps through Alipay+’s Super App Platform, such as travel bookings or social features. The idea is to keep users engaged within the bank’s own ecosystem rather than switching to third-party apps.
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Customer experience as a competitive edge
Improving digital engagement isn’t just about convenience—it’s a financial imperative. McKinsey & Company found that banks with stronger customer experience scores see higher returns, faster growth, and lower costs. Those advantages translate into significantly better shareholder returns compared to competitors with weaker scores.
For now, the focus remains on Asia Pacific, where banks in the Philippines and Thailand have already connected to Alipay+. Bank of the Philippine Islands, Asia United Bank, Kasikorn Bank, and Siam Commercial Bank all offer cross-border payments through their mobile apps.
Ant International isn’t stopping at payments. Its Falcon TST AI model, which predicts foreign exchange rates with up to 93% accuracy, is already used by banks like Citi and Barclays. Meanwhile, its Whale blockchain platform enables near-instant, round-the-clock liquidity transfers, with partners including Standard Chartered and HSBC.
The shift toward cross-border digital payments isn’t happening in isolation. It’s part of a broader push by banks to modernize their infrastructure while keeping pace with consumer habits. The question isn’t whether more institutions will follow—it’s how quickly they can adapt before the market moves ahead without them.
For users, the changes might feel incremental. A QR code scan here, a faster transaction there. But behind the scenes, the infrastructure supporting those small conveniences is growing more interconnected by the day.
