Alipay+ has taken a giant leap forward this year, enhancing its wallet-based payments and digital services to bolster Ant International’s fintech offerings.
Alipay+ Expands Global Reach
Alipay+ isn’t just growing; it’s exploding across borders! Partnering with 35 top mobile payment platforms, it connects over 90 million merchants in 66 markets. That’s a whopping 1.6 billion user accounts tapping into seamless payments.
Peng Yang, CEO of Ant International, shared his excitement. “2024 has been a transformative year for Ant International,” he said. It’s clear the focus is on inclusive growth, blending AI with cross-border commerce.
SMEs are especially benefiting. Over 90% of merchants using QR code payments via Alipay+ are small to medium-sized businesses. This highlights Ant’s dedication to making digital transformation accessible for everyone.
But wait, there’s more! Cross-border transactions excluding Alipay have tripled year-on-year. Alipay still leads, but the growth is undeniable.
Antom’s Stellar Performance
Antom, Ant International’s merchant payment service, is on fire. From January to November 2024, the total payment volume nearly doubled compared to last year. Talk about growth!
What’s driving this? Antom has beefed up its payment processing across all channels. Card processing volume? Up more than tenfold! Merchants are loving the top-notch authorization rates.
Antom isn’t stopping there. Innovative solutions like Antom Copilot and EasySafePay are making waves. Copilot cuts integration time from days to minutes. EasySafePay? It streamlines wallet payments and boosts success rates. Pretty slick, huh?
WorldFirst Reaches New Heights
WorldFirst, Ant’s digital payment platform for global businesses, hit a major milestone. Five years post-acquisition, it achieved a total payment volume of US$100 billion in 2024. That’s four times what it was in 2020!
Serving over a million SMEs worldwide, WorldFirst isn’t just growing; it’s thriving. Expanding from Asia and Europe to other regions, its momentum shows no signs of slowing down.
The team behind Embedded Finance is also making strides. By leveraging AI and blockchain, they’re creating secure, end-to-end solutions. From risk modeling to credit services, the innovations are impressive.
Embedded Finance: The Heart of Innovation
Embedded Finance is where the magic happens. Credit Tech and Platform Tech teams are pushing boundaries with AI and blockchain. They’re not just keeping up; they’re setting the pace.
Take the Time-Series Transformer AI FX Model, for example. It predicts currency needs with over 90% accuracy. This is a game-changer for treasury management, reducing costs and uncertainties for millions of merchants.
Blockchain technology is another highlight. Real-time cross-border settlements are now possible 24/7, handling over a third of Ant International’s processing volume. It’s fast, reliable, and efficient.
Inclusive Growth with bettr
Ant International is all about inclusion. Through ANEXT Bank, they launched bettr, an inclusive credit service. Operating in places like Bangladesh and Indonesia, bettr partners with local fintechs to offer loans to over 11 million underserved businesses and individuals.
These loans are uncollateralized, based on fairer credit ratings. It’s a big step towards financial inclusion, helping first-time borrowers access the funds they need to grow.
In 2024, loans under management more than doubled from the previous year. That’s a solid testament to Ant’s commitment to supporting SMEs across borders.
Looking Ahead to 2025
What’s next for Ant International? Peng Yang is clear: 2025 will focus on supporting SMEs with innovative, trusted solutions. AI-powered payments, digitalization, and inclusive financing are on the horizon.
Collaboration remains key. Both public and private sectors will play a role in this journey, ensuring that Ant International continues to drive growth and innovation worldwide.
