Ant Group Builds Cross-Border Payment Network to Challenge Visa, Mastercard Dominance

Ant Group is building a cross-border mobile payment network to challenge Visa and Mastercard,per Jan 7 report. Ant International, split in 2024, wins China’s first Foreign Institution Partner for QR payments in 12 countries. Partnerships with DBS, HSBC/Swift; Alipay+ doubles H1 2025 transactions, adds Saudi Arabia. Targets $553B market by 2033 amid 30% growth.