Ant Group is building a mobile payment network that positions the Chinese fintech giant as an alternative to traditional card networks Visa and Mastercard, according to a report published by The Information on January 7, 2026. The strategic expansion represents one of the most direct challenges yet to the card networks’ dominance in global cross-border payments.
Ant International, separated from its parent in 2024, has notched key wins like becoming China’s first Foreign Institution Partner for cross-border QR payments. This lets users from 12 countries scan and pay seamlessly. In November 2025, DBS Bank teamed up with Ant to let 3 million PayLah! users shop at Alipay+ merchants via ISO 20022 and Swift. HSBC and Swift trials with blockchain tokenized deposits show Ant layering new tech atop legacy rails.
The Chinese company has secured recognition as an inaugural Foreign Institution Partner in China’s Cross-border Interconnection Payment Gateway, enabling it to facilitate scan-and-pay transactions for seven major international bank card brands and users from 12 jurisdictions. Alipay+ transactions via national standardized QR codes nearly doubled in the first half of 2025 as the platform integrated with payment schemes in Singapore, Malaysia, South Korea, Cambodia, Sri Lanka and other markets.
The push hits as cross-border payments hit $303 billion in 2025, eyeing $553 billion by 2033. Alipay+ saw 6.5 million first-time users and 30% volume growth in H1 2025, with Saudi Arabia next on deck via mada. While Ant partners with Visa and Mastercard in spots, its network growth signals fiercer rivalry ahead.
