Ant International, the global arm of China’s Ant Group, is expanding its presence in Europe by partnering with fintech companies and financial institutions to grow its merchant network, and sponsoring major sports events to grow brand recognition.

In a recent interview with FXC Intelligence, a data platform for cross-border payments, Douglas Feagin, president of Ant International, shared ambitious plans to expand the Alipay+ network in Europe with more digital wallets, banking institutions and merchants. Additionally, Ant International aims to strengthen the European presence of its other brands, including Ant to Merchant (Antom) and WorldFirst, promising enhanced access to the Asian market for prospective partners.

Expanding the Alipay+ network

Alipay+ is the company’s cross-border payment ecosystem that connects local digital banking apps and e-wallets to a single payment platform. The platform allows users to make payments in foreign countries using their local e-wallets, meaning that users do not need to switch to a different e-wallet when traveling or shopping internationally.

Currently, Alipay+ links 30 digital wallets, including Alipay itself in China, Kakao Pay in South Korea, GCash in the Philippines and TrueMoney in Thailand, serving a total of 1.5 billion end-users. 14 of these 30 digital wallets are integrated with European merchants, allowing seamless cross-border payments for their users.

To facilitate these integrations, Alipay+ collaborates with local acquirers, working with the likes of Barclays in the UK, and UniCredit in Italy to enable their merchants to accept payments from Alipay+ users. This integration allows businesses to reach a broader customer base, including international travelers and online shoppers.

Most recently, Ant International announced a wide-ranging partnership with French banking group BNP Paribas. Among other things, the collaboration will enable European merchants using the bank’s acquiring service to accept payments for 30 Alipay+ wallets.

Ant International has also inked a number of deals with European fintech companies these past couple of months, forging partnerships with the likes of Tinaba from Italy, Nexi from Germany and DNA Payments from the UK.

Feagin emphasized the company’s openness to incorporating more European institutions into the Alipay+ ecosystem, explaining that the aim is not only to serve Asian travelers but also to tap into opportunities to support European customers.

He envisions considerable growth moving forward, noting that European banks are increasingly introducing innovative fintech and digital services to reach different customer bases. This includes solutions tailored for younger customers or those preferring simpler, stored-value accounts instead of traditional bank accounts.

Currently, Alipay+ claims 400,000 European merchants within its network, a far cry from its 80 million merchants in China. These merchants range from luxury goods stores to local businesses and travel services like taxis. Recently, the company partnered with Freenow, a German mobility service, allowing customers of Alipay, AlipayHK and Touch n’ Go to book taxis in seven European countries including France, Germany and Italy.

Enhancing the footprint of Antom and WorldFirst in Europe

Ant International is also working on the expansion of its Antom brand in Europe. While Alipay+ focuses on offline customers, Antom supports online commerce by offering payment and digitalization services in 150 markets and over 100 currencies. It caters to major online marketplaces such as those offered by Alibaba, digital goods marketplaces, including gaming, entertainment, as well as online travel agents.

In Europe, Antom aims to increase merchant access to an increasingly lucrative Asian market, while also increasing cross-border payment options for e-wallet users in the continent. Most recently, the company bolstered its presence through the acquisition of MultiSafepay, a Amsterdam-based payment services provider serving over 18,000 small and medium-sized enterprises.

Finally, WorldFirst, a UK-founded company acquired by Ant International in 2019, will reinforce its standing in Europe by joining the Single Euro Payments Area (SEPA) scheme. The development, enabled by Ant International’s recent partnership with BNP Paribas, will enable WorldFirst’s clients to access payment schemes under SEPA in real-time and automate treasury payments to optimize their operations.

WorldFirst provides business-to-business payment solutions, including a multicurrency account and marketplace cross-border collections. The company has served one million customers worldwide and is connected to over 120 marketplaces.

Sports sponsorships to increase brand visibility

Alongside partnership announcements, Ant International also made headlines this year for its three-way sponsorship of the UEFA European Football Championship (Euro) 2024. The sponsorship, which heavily showcased Alipay+, Antom and WorldFirst branding across the tournament, led to increased brand recognition and transaction volumes in Europe.

Feagin noted that the partnership was an excellent opportunity for brand exposure, aligning with Ant International’s interests and broadening its audience.

Around the tournament, Feagin said Alipay+ saw increased flows in the host country of Germany. In its opening week, Ant International reported a 29% year-over-year increase in visitor spending via Alipay+ partner e-wallets in Europe and a 67% increase in transactions in Germany compared to the previous week.

The Euro is the primary association football tournament organized by the Union of European Football Associations (UEFA). It is one of the most prestigious football tournaments in the world, second only to the FIFA World Cup in terms of its significance and popularity within Europe. This year, Euro 2014 set records for TV audiences, achieving an estimated global cumulative audience in excess of 5 billion viewers.

Headquartered in Singapore, Ant International aims to support merchants worldwide through a comprehensive range of digital payment and financial services solutions. The company aims to become the “most trusted digital services connector”, thanks to its four key businesses and brands: Alipay+, Antom, WorldFirst and Anext Bank, a digital wholesale bank in Singapore.

Featured image credit: edited from freepik